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.
It has contributed to erratic and unstable markets.
It has enabled predatory manipulations of markets at the expense of responsible investors and traders.
It has given inordinate and unfair advantage to large financial entities at the expense of individual investors
Sound stocks have been damaged.
Pension Funds, personal savings and much more have been decimated.
It is time to create rules to protect the average American and their savings.
Please reinstate the uptick rule before it is too late. This is urgent.
Please act now to correct this egregious practice.
Thank You.
Respectfully,
Larry P. Nims,Ph.D.