February 1, 2009
Dear Mary Schapiro:
Does it seem strange, the sheer, crazy volativity that has come to the financial markets since July of 2007. Of course that is when the the short sale uptick rule was eliminated.
If you chart volativity comparing the period of 1929, and 2008, it indicates clearly 2008 was 40% more volatile.
You have no choice but to reinstate the uptick rule NOW, today, not tomorrow. Lets face it, the markets need a real shot to the upside soon, or the Country faces a terrible confidence test.
One more thing. If the SEC does not go after the criminal element which has blatently broke the law regarding "naked shorting", the agency will be doing a grave disservice to us who have raped and pillaged by this slug segment of society.