June 11, 2009
We want to request the reinstatement of the Uptick Rule. This needs to be done ASAP. Short selling in it self is questionable but the ability to short a second and third time before a buyer steps in results in a downward spiral that is artificial and very dangerous to investors. This opening for negative impact on stocks also provides access for manipulation from our country's enemies.
Back in 2007 when this rule was removed we did not realize the impact this action would have on investors. We are not professionals in the investment arena but we do want to be able to invest in our country. Without this rule being reinstated the risk of professionals in the area taking unreasonable advantage of us and others is too great.