September 15, 2009
THIS IS NOT A CUT AND PASTE--AND I WROTE THIS.
Dear Sir or Madam,
I believe that a market works efficiently when long traders and short traders have equal opportunities. Give the short traders the same opportunities that the long traders have access to make the game fair for both sides and you will have taken one step to restore confidence in the market. Here's why...
We have all witnessed a rally that is unbelievable (and I think unsustainable) since March this year. None of my friends or family are willing to invest in this bubble and we are scared to because a correction has not taken place and seems impossible with the current UP-TIC rule.
Also with the current UP-TIC rule that favors longs...our stock market has become a place for greedy pigs-regardless of being employed or not. If the economy is dire and unemployment is bad, people should be encouraged to pay off debts and take care of their household and start new businesses if they cannot find work. Free enterprise and small business is what makes America great, but betting on big corporations who lay-off everyone they can does not.
Right now, the current UP-TIC rule puts the available money out there (especially those who were laid off and cashing in their 401Ks) into the hands of big corporations and does not promote entrepreneurship or small business growth. I think law makers have forgotten what makes our country wealthy and great, which is small business.
Make the game fair for both long and short investors. This will teach people to become financially responsible and kick the greedy pigs out of our stock market.
If the stock market bubble were popped, perhaps it would put some of the Federal stimulus money back in the hands of small businesses, taxpayers and entrepreneurs and put America back to work.
We're counting on you to make good choices that make our country strong. Please make it fair for every investor.
Ed Hunt[Personal information redacted]