February 1, 2009
Dear Chairman Mary Schapiro,
One of the biggest errors in judgment of the last Presidential Administration was the withdrawal of the uptick rule. As a result, 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. Those hedge fund and short sellers, of course, want to continue to plunder honest corporations and mining operations. Please reinstate the uptick rule before it is too late.
Victor R. Scarano, M.D., J.D.
Director, Forensic Psychiatry Services
Texas Law & Psychiatry, P.L.L.C.