March 7, 2009
Dear Trading and Markets,
Given the recent events occurring in the market, it seems obvious that there is significant manipulation taking place with regards to naked shorts, and shorting in general. Furthermore, given the fragile economic environment and the predatory and malicious nature of these attacks on weaker companies it is apparent that the "free market" approach is not working. I urge you to once again halt the naked short selling, and at least place a temporary resumption on the uptick rule. Clearly this has gotten so bad that this is long overdue, if it does not happen quickly the American economy will likely collapse further into a provoked depression, with much of the blame on the poor reactions of the SEC.
Regards,
Christopher D. Mroz
JP Morgan Securities