May 4, 2009
"Naked" short selling must be eliminated since the coverage rule has rarely been enforced. I support Senator Ted Kaufman and his future legislation if the uptick rule is not re-instated with an amount larger than a cent. The old fraction system being replaced by the cent requires at least a $0.10 uptick in order to reinstate the 70 year experience of success.
Rules that are NOT enforced are useless...as the past crash has proven. I do have faith in the new SEC head, that she will fix a broken system.