May 9, 2009
I urge the reinstatement of the UPTICK RULE.
The practice of NAKED SHORT SELLING also has undermined the common investor and made for unfair practices on the downside and should not be allowed.
The ULTRA SHORT ETF'S are simply a way to go around the existing rules for preventing the above desstructive practices. I urge that they be abolished.
I believe that if the above practices had not been allowed the massive decline in our financial markets would not have taken place and possibly the rapid destruction of wealth would have been avoided.
This is very important as it affects how capital is raised and maintained and can help mitigate the fear that destroys wealth. This fear can keep investors out of our markets, both foriegn and domestic. Keeping the capital markets healthy effects retirement which will lesson the stress on Social Securtiy.
I have co-signed the letter from Jim Cramer, Eric Oberg, Scott Rothbort, and Bill Furber. I watch Mad Money on a daily basis and find a wealth of knowledge and common sense displayed on Jim Cramer's TV show.
Thank you for allowing the public to express an opinion that effects us all in such a meaningful way.