February 1, 2009
Dear Chairman Mary Schapiro,
One of the biggest errors in judgment of the last Administration was the withdrawal of the uptick rule. It has led to unnecessary ravages in the financial markets. Sound stocks have been damaged. Pension Funds, personal savings and much more have been decimated. The question is to whose gain? It is time to create rules to protect the average American and their savings. I also strongly urge the SEC to aggressively enforce the regulations against naked shorting that have destroyed many companies, and many investors wealth in the US. The unacceptable lack of oversight and enforcement by the former SEC Christopher Cox and the SEC department cannot continue under your watch.
I strongly urge you to reinstate the uptick rule as soon as possible.