April 26, 2009
I believe the short sale uptick rule need to be re-established. It is my opinion that if that rule had been in place and enforced over the last year we would not have had the financial meltdown we witnessed. Under the Bush administration the SEC abdicated it's responsiblilty. It's time that you begain to enforce the rules on the books, add the uptick rule, invistigate shady delaings and hold people accountable. This is the only way you can restore confiidence in the SEC and our financial system.
I am a firm believer in Jim Cramer and his philosophy. Listen to what he has to say on the uptick rule.