March 8, 2009
We (Americans) have been taught for the last 20 years to invest in our retirement funds. To put away money in the US stock market to help us fund retirement. Now over the past couple of years the SEC has approved action that is helping destroy those investment dollars. Americans have lost billions in retirement plans because of two irresponsible SEC acts.
1) Elimination of the uptick rule ( which slows the drastic pace of market declines)
2) authorization of the ultra short ETF's , mainly the financial SKF
Please reverse these now. We ( the vast majority of americans holding stock ) have lost years of hard earned money because of these mistakes made under the former sec. chair. Please do the right thing. CHANGE these policies. Sincerely, Hal Hollman