April 7, 2009
Lets reinstate the rules the way they were, if it cannot be policed increase the required uptick spread and when the rule is violated make the punishment have some teeth.
If nothing else this will help keep the short sellers from continually driving down equity prices for their own gain. A backstop that takes effect only when an equity drops a certain percentage will not solve this problem.
The problem is the continual slow calculated drain, and I for one will never have any confidence in the integrity of this "free" market until this is corrected.