July 1, 2009
Please do not allow lobby groups or politcal comments from senators and congressman to influence your decisions.
My husband and I are retired and are unable to short stocks. We rely on our chosen stocks to help us recoup losses suffered. Short sellers consistently drive down the value of stocks daily, especially bank stocks.
Please lock up the dogs. ETF's such as SKF and SRS drive the market down daily. Today was a good example. Both ETF started an uphill climb at noon and by the time the market closed, my profit of $139 dwindled to $32. My husbands investments went from up $1000 to down $88. Not only do ETF's drive the market, but short sellers also have that ability. People like my husband and I do not have a chance to recover our losses if short sellers continue to have the power to control the market.
Please restore the uptick rule and follow through with other regulations as soon as possible. ASAP please