March 26, 2009
I am sure that the SEC is aware that the "uptick rule" is most effective during significant stress in the economy. Testing during relatively "normal times" will not demonstrate significant benefits. I believe this was the case when it was decided in 2007 to eliminate this rule. Also note the benefits of short selling bans in other countries like Australia.
I would also like to draw attention to Mr. Kessler's article in today's WSJ. His suggestion of how to beat the "vultures" at their own game during their "coordinated bear raids" on companies is brilliant. This would be a great interim strategy until the multi-trillion totally unregulated CDS/CDO markets can be fixed.
It is also disturbing that the same "speculators" are now invited to help fund the bailout of the very bank assets they helped to destroy.
R. J. Braun
West Chester, PA