October 2, 2008
In relation to the shorting ban on financials, which is set to expire on 10/17/08 or three days after the bailout bill is passed, I respectfully request that you extend the ban against short-selling at least for FNM (Fannie Mae) and FRE (Freddie Mac) until they are no longer under governement conservatorship. It makes absolutely no sense to allow short-selling in a stock once they are under conservatorship since it puts taxpayer money at risk, could lead to higher interest rates, could make it harder for a housing recovery, could jeopardize their debt payments, etc. Since they were seized for a public purpose in trying to stabilize the housing market and are absolutely critical for our country to find a housing bottom and avoid a very severe recession and are under conservatorship, I implore you to do the right thing and not let short-sellers destroy Fannie and Freddie and the very purposes on the conservatorship.
Thank you for your consideration.