And, just over a week ago, CNBC's James Cramer encouraged his viewers to contact the Securities and Exchange Commission and Congress to complain about the change, saying that "tens of billions of dollars" have been lost because of the change, and that SEC officials "are total morons" about the issue. http://online.wsj.com/article/SB120701263355579045.html?mod=googlenews_wsj
Give me a break... I think the SEC are ineffective and are a captured regulator. Regarding the uptick rule change though, they actually got that one right for a change. I want to know why the SEC never did anything about Cramer passing rumors to CNBC anchors and then trading off the activity from the broadcast. If I was going to call or write the SEC it would be about that not the uptick rule.
http://grassley.senate.gov/public/i...42d-ab92-0f7f-d2fc05447312&Month=12&Year=2007 The only IG in the history of the SEC resigned the day of the Senate Judiciary Commtt hearing on Aguiree, which was 12/06/06. Phenomenal piece of history. The "IG" of any institution is an independant investigator. I look for some good things from him. We'll see