April 21, 2009
It is of my opinion that the removal of the UPTICK rule, lack of enforcement on naked shorting, and BOGUS busted trades are all linked to some type of corruption in the regulatory agencies, exchanges and more.
This new SEC MUST rectify these injustices that have turned our stock markets into casinos that are fixed against the retail investor.
If the SEC does not start to protect the little guy, he or she will vanish from the stock market for good.
I recommend the SEC inplement a uptick rule that prohibits shorting on the bid. DO NOT implement one that only goes into effect after a 10% decline (this is not a fix).
And this public comment period is strange, I am not sure what the SEC expects to get out of this.