May 8, 2009
Please reinstate the uptick rule as it was for the 70yrs prior to 2007.
Why in one of the greatest times of financial uncertainity would you consider a modified uptick rule based on national best bid or a circuit breaker halt rule? The previous rule worked well for 70 yrs. It prevented predatory piling on.
Remember the old saying,
"If it works, don't fix it"?
In your case it should be changed to
"If it worked, don't change it when you reinstate it".
Thanks,
Peter Shanovich