Subject: File No. S7-21-09
From: Frances Borda
Jun. 10, 2010
To Mary Schapiro and her group :
Your job SHOULD BE OBVIOUS TO YOU. Here it is,courtesy of Doug Kass :
- Institute a transaction tax exclusively devoted to high-frequency trading strategies. While I hate this idea, it would immediately and dramatically increase the costs to high-frequency traders and reduce the incentives and edge of many price-momentum strategies).
- Bring back the uptick rule for shorting. This short-sale rule was eliminated in July 2007 -- its original purpose was to prevent traders from being able to force prices downward. Bring it back!
- Disallow the ability of high-frequency traders to see order flow and to discover stop levels.
The only question is, will you wait until the Stock Market has been completely destroyed ???
A Disgusted Citizen,