March 25, 2009
I am writing this message for the SEC to PLEASE reinstate the uptick rule. The law was changed back in 2007 and should be immediately reinstated. The change had caused great harm to the stock market allowing hedge funds to run rampant destroying many good companies. I've lost most of my retirement money because of this!
The biggest problem is that the short seller doesn't even have to borrow the stock anymore. The ability to borrow was a safe guard to insure an orderly market. Again, please reinstate these rules back on the books to prevent a further manipulation of the stock market.
Thank You,
Bob Kodadek