August 18, 2009
I am writing to you to express my strong support for your proposal regarding the uncontrolled short selling of stocks. I think this is a very important change that must take place as soon as possible. Too many small, thinly traded stocks have been pounded into the ground by short selling specialists whose only interest is immediate profits at the expense of viable and job producing companies. In my opinion it was a major mistake to disband the earlier up tick rule for selling stocks short.
Thank you for proposing this long over due change.
Bayard Cartmell
Principal
George Elkins Mortgage Banking Company