November 18, 2008
From: Padula, Nicholas E.
Sent: Monday, November 10, 2008
To: Servetnick, Dick
Subject: RE: Hedge funds alone in fight against short-selling curb ---IMPORTANCE HIGH!
Amen brother
Nicholas E. Padula
Senior Vice President
Institutional Equity Trading
Stanford Group Company
From: rservetnick@bbandtcm.com
Sent: Monday, November 10, 2008
Subject: FW: Hedge funds alone in fight against short-selling curb ---IMPORTANCE HIGH!
Dear Chairman Cox, I have been urging you since July of this year to reinstate the uptick rule. However you continue to listen to a bunch of academics that have never traded a stock in their life, As a Professional with almost 40 years of daily trading stocks, I urge you to act. Today’t action in General Motors and Goldman Sachs are perfect examples of the devastation you have seeded by removing this rule. How much more damage do you need? Look at the economic havoc that has resulted by the total lack of confidence and fear you have created by your lack of action. You have the power to begin to restore confidence. Time is of the essence. There is no excuse for further delay unless you have something to hide. Sincerely, Dick Servetnick, Lafayette, California