May 4, 2009
I and numerous friends and relatives have been retail investors for many years, and we have been discussing the uptick rule for many months. We all unanimously agree that the repeal of the uptick rule is the main reason that a mild bear market became a major crash. All of us agree that it is just too dangerous to reenter the stock market until the uptick rule is reinstated in its original form, and don't tell me the technology no longer exists. You can hire a high school kid to reinvent it.
The SEC has betrayed the American People (not just Investors) for years, and a major portion of SEC people should be fired, and many prosecuted.