February 1, 2009
Dear Chairwoman Mary Schapiro,
I believe the previous administration made a huge mistake when they allowed the uptick rule to expire. I realize that the rule was put in place during difficult times many years ago, and may need to be updated to take into consideration the many systemic trading changes, along with the computerized systems and procedures that are in place in todays world. We are again in difficult times, and I think it is the ideal time to reinstate a modernized version of this uptick rule, that proved its usefulness over many decades.
A new Administration is now in place. Please take advantage of your opportunity and position to make a positive change for our financial future, and also to stand up for the average citizens all over our country, who have had to watch their retirements and savings decimated by unscrupulous short sellers taking advantage of in place regulations that are not being enforced.
Please help level this playing field for us little guys. We after all are the ones that ARE playing by the rules. We voted for change. Please don't disappoint us.