January 22, 2009
To the SEC:
Please acknowledge the removal of the uptick rule has contributed significantly to the recent correction in the markets and reinstate the rule. It is evidently clear that the removal of a rule in place since 1934 has not served the general investment public well. The only people to benefit are large hedge funds that prey on the ability to drive a stocks price down to nothing.
The research done prior to the ammendment of rule 10-A was far too short. That study should have taken place over a minimum 10 year period to ensure at least one bear market was involved in the study.
I'm confident congress will for you to make this change in the not too distant future, but I do think it would show a lot of class and consideration to act on your own.
Thank you for your time,