May 11, 2009
Please reinstate the uptick rule. After learning about the naked shorting on Jim Cramer's Mad Money, I was outraged that this be allowed. How could the SEC not protect the average investor. How could this be allowed to destroy our market and make it impossible to invest espeically in the current climate. Using tax dollars to prop up banks and then allowing some investors to short bank stocks without even securing the shares is just plain wrong. We are only asking that the SEC make investing a level playing field and not allow some to take unfair advantage and commit illegal trading and beat down our financials. Hooray for Jim Cramer calling attention to this and letting his conscience be his guide. Investors like myself now feel like we are all alone with no protection or faith in our system since we are not protected. Why change rules like the uptick? They work and were put in place for a reason. Please reinstate it