April 21, 2009
I'm in favor of reinstating some version of the uptick rule. Market volatility corresponds with market fear and fear in the marketplace is not what we need for the US economy. When people fear GM will fail, they don't buy. I imagine big investment banks like Goldman Sachs don't want this rule, might lose a billion in profit, who knows. If you want people to start borrowing again for cars and such, you need to have stability in the market, and thus their 401Ks. Otherwise, people are going to continue to hoard cash as they have started to do over the past year.
Please reinstate this rule for the overall good of the American people.