February 27, 2009
In reading Doug Kass' recent commentary on the street.com, I agree with his recommendation that you restrict or eliminate inverse or bear market indices, which short the market and wreak havoc on those of us with our retirement funds invested in the market, without any analysis whatsoever--they just short, e.g., financials, which reduces the value of the stocks of good companies as well as bad ones. I also urge you to reinstate the uptick rule, which also makes it more difficult to short the market unreasonable. No one has an inalienable right to create or use investment vehicles, especially ones that destroy wealth without any consideration for the value of the companies it attacks or for those holding shares in them. Please act before it is too alter. Thank you.