February 1, 2009
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.
Please reinstate the uptick rule before it is too late and enforce and strengthen the naked short rules.
(Study the Hong Kong naked short rules....failure to delivers are settled at the market on the 4th day....funny, don't you think, that so called communist capitalist can have better rules than those in the USA - who are our rules protecting, what does your agency plan to do to protect smaller investors from the crooks that regularly abuse naked shorting? Anything?)
Let's see some "CHANGE" for the positive as promised by Obama as opposed to the same old protection for the well connected and financially powerful..