March 10, 2009
I feel the uptick rule should be reinstated and naked shorting of securities should be made illegal. In fact, I feel all shorting should be illegal. Shorting drives the share price down illegitimately and manipulates securities.
In fact, millions of honest investors have been robbed of trillions of dollars and thousands of good companies have been devastated because of shorting, naked shorting, and credit default swaps on companies that have been illegally manipulated.
If investors want to play the downside of the market, let them buy puts.
This absolute fraud and theft in the market must stop. Who wants to invest in a system that is 100% corrupt? At every turn and in every system, we are being robbed, robbed, robbed.