August 6, 2009
As and individual investor and concerned citizen, I am in support of reinstatement of the "uptick rule". The need for this action was demonstrated by the rapid and outrageous price increases of Oil/gasoline, which burdened the country and caused increased pricing of anything requiring transport, last year. The huge increase in cost was not a result of supply and demand, as first reported.
Furthermore, the short selling of financial institutions, contributed to the failure of the banking system, resulting in the economic conditions we are currently experiencing. These issues must be addressed and regulations instituted and ENFORCED to prevent this country from manipulation by a "make-a-fast-buck-any-way-you-can-mentality" of hedge funds and large trading institutions. Lack of regulation or failure to enforce existing rules has lead to the fraud and manipulation which has unfolded over this past year.
Please consider this when acting on this rule, as well as other rules which should be implemented to address the above mentioned problems.
Sincerely,
Bonnie Sweningson
Wisconsin