May 4, 2009
I am a 58-year-old retired school teacher who now works part time at our local library. I am one of the "little guys" whose stock portfolio suffered enormous damage (loss of $55,000) in 2008. I am convinced that much of the carnage was due to NAKED SHORT SELLING and the elimination of the UPTICK RULE. I feel as though there are two stock markets - one for the unscrupulous shorts and one for those of us who believe in American corporate ingenuity and enterprise. Like millions of Americans, I fear getting back into the stock market because it feels "rigged." I beg you to return some stability to the markets by eliminating "Naked shorting" and by returning the "Uptick Rule" to the stock market. Thank you for listening.