May 8, 2009
This is to request that you reinstate an uptick rule, prohibit and enforce a prohibition on naked short selling and remove double and triple short ETFs from the market. Prior to this latest and most serious market collapse, I had substantial funds invested in the markets. I have withdrawn the funds and will not be investing anything further until substantial reform takes place.
The naked shorts, I believe are clearly illegal, and the multiple short ETFs should never have been approved since they obviously circumvent margin requirements. The uptick rule is a useful and at times necessary brake that prevents the destruction of basically sound companies. Thank you.