May 4, 2009
The original uptick rule, put into place in the 1930's, was designed to stop exactly the kind of market melt down seen in late 2008. When it was repealed, it was and open invitation to open short sellers to destroy individual companies without any regard for real market conditions.
The uptick rule, repealed in 2007, needs to be reinstated to reintroduce balance between short sellers and normal market conditions and movements.