May 4, 2009
Dear SEC,
I am writing to comment on the several proposals before you to revise the rules about short selling.
I congratulate you on recognizing the need to action and the willingness to address this critical issue. However, I feel very strongly that the best course of action is to simply reinstate the uptick rule that was in place from the thirties through 2007. The proposals before you now all are unnecessarily complicated and fail to address the real issues as elegantly or efficiently as the original law.
Please, bring back the uptick rule, stop naked short selling, and eliminate the leveraged short ETFs that destroyed so many of our financial institutions and nearly brought down the whole system.