March 3, 2009
There is obvious issues regarding the removal of the uptick rule. The rule should be replaced immediately in order to stop the destructive selling coming from "bear raids' on our nation's major corporations. Prudence would dictate that such a long held rule be replaced and then studied in greater depth (i.e. Not just in a rising market, but in a declining market as well.) in order to clearly discern its utility and to stop any more destruction. Leaving it in and studying it without a clear understanding could subject our nation's markets to needless and reckless forces.
The SEC must act now.