May 5, 2009
Please re-instate the uptick rule ,along with the circiut breakers.
We have seen the devastating effect short selling can have on a companys stock price, especially when done in a concentrated and collusive manner as was recently the case with Lehman Brothers, Morgan Stanley, Bank America and Ford, to name a few.
Many of the "rules/controls" put in place during the 1930's
to slow down/mitigate the destruction of wealth, was removed and look what happened. Maybe these rules need to be modified to reflect the current investment enviroment
(computers...) but some sort of control does need to be in place, i don't think that is in doubt.
The lack of regulation and monitoring of Hedge Funds,Bankers and Brokerages have almost ruined this economy,and this country.
With less and less companies having pensions its important
that the market have some control to prevent free falls like we have seen in the past year. People's retirement are invested like no time in the past. Talk about to big to fail what would happen if 50% of americans lost there life savings
Of course government employees have a pension supplied by my tax dollars so no worries there....
As an aside i also believe these double/triple ETF's should not be allowed.