May 4, 2009
I'm writing to ask that the SEC restore the "uptick rule" and in the fashion as originally designed and utilized in the 70 years prior to its elimination in 2007. While the market no doubt suffered tremendous losses due to the housing market and mortgage debacle, the actions of naked short sellers plunged it to undeserved low levels.
Please do not put into place some watered-down version that may be politically acceptable, but not in the best interests of companies and investors. Surely, it does not take super-human intelligence to look at what happened during 2007-2008 to see the need to stop abusive behaviors of self-interested short-sellers.
Thank you.
Joseph W. Ingels