August 25, 2009
The "circuit-breaker" approach to the uptick rule will still allow fear to be used as a weapon. Once the pile-on starts, a temporary pause is a useless stop-gap measure. Once trading resumes, the pile-on can continue.
Put the original rule we had for over 68 years back - AND LEAVE THE DAMN THING ALONE.
I also wanted to thank you for your efforts to curb naked short selling, catch Bernard Madoff when you were alerted by Harry in 2000, and maintain an orderly market with Rule 201 Regulation SHO. Is there anything else the SEC can do to further damage the United States?