October 21, 2009
I was initially very happy to see that the SEC was going to re-instate the UPTICK rule. Now I am SHOCKED to see this proposal.
It appears that short selling without uptick rule is FAR too luctrative for the HEDGEFUNDS and politician friendly large institutions like GS to fully abolish it, SO let's just propose an ammendment.
Gouging the small long term investor for short term profits using FLASH TRADING computer systems in conjuction with rampant NAKED short selling is just too good to be true to the tune of BILLIONS of dollars, I would say this is obviously CRIMMINAL if justice ever prevails.
How many people are culpable? Who was responsible for ARRANGING the removal of the UPTICK. The better question may be WHY?
I beleive a full investigation or in depth probe is warranted in both the cases of the UPTICK rule and ILLEGAL flash trading programs used daily by the biggest HEDGEFUNDS AND INSTITUTIONS who are freely raping the market every day. Unfortunately I beleive this will never happen because there are way too many politicians and bankers profiting from these activities.