May 4, 2009
Dear SEC Director,
In addition to limitation on short sales, there should also be same or similar limitation on margin long buys. Present proposal seem to me as a panic reaction to market going down and it does not fully solve core problem of artificial market fall or rise. The proposal may only addresses issue of market decline while ignoring other half of the issue related to market rise.
Margin long activity should not be treated any different from short sale activity. Both are driven by motive to profit by driving (or expecting) market further up (or down).
Thanks