June 5, 2009
I would really like to see the uptick rule reinstated. I'm very upset with the previous administration run under Mr Coxx. His decision to remove the rule I believe ultimately encouraged the capital destruction of the markets in the past year. I love the free market, but like anything where greed is involved, it needs rules.
I am 18 years old, and in 2008 My state mutual fund lost over 4,000 of my college savings in 4 months. My sister lost 1/3 of her college money in the events. I realize that this isn't anything. Not even a blip on the radar, but I am now at a community college while the funding can recover. Do not value the hedge fund managers over people like me. It is inherently American to do so, and it has cost a lot of people a lot of money. Do not mislead yourself, this rule was removed so that HEDGE FUNDS could short stocks into oblivion and get rich doing so. Please change it back.