May 5, 2009
I am in favor of reinstating the short selling rules of 1934. The rules worked well for 75 years. Once the rules were removed the banks could not raise capital and the tax payer ended up paying trillions of dollars to try to fix the banks. The last time the government had to bail out the banks was after The Great Crash of 1929 when there was no uptake rules.
The Security and Exchange Commission job is make sure the stock market is not run like a casino.