CNBC Barney Frank "I'm hopeful the uptick rule will be re-instated within the month"

[Joanne98]

Great news.

[wryter2000]

1. What's the uptick rule?

If Barney Frank's for it, I'm sure I am, too. :)

[sazemisery]

2. From Wikipedia

"The uptick rule is a securities trading rule used to regulate short selling in financial markets. The rule mandates, subject to certain exceptions, that, when sold, a listed security must either be sold short at a price above the price at which the immediately preceding sale was effected or at the last sale price if it is higher than the last different price. In 1938, the SEC adopted the uptick rule, more formally known as rule 10a-1, after conducting an inquiry into the effects of concentrated short selling during the market break of 1937. <1> The original rule was implemented by Joseph P. Kennedy, Sr., the first SEC commissioner."

[ananda]

3. Link here

http://www.reuters.com/article/etfNews/idUSWEN570520090310

The uptick rule would force short sellers to sell at a higher price
than the previous trade.

[wryter2000]

7. Thanks so much!

I like Thom Hartmann's idea of a teeny tax on each trade. It wouldn't matter for people who are investing over the long-term, but it might deter speculation.

[ORDagnabbit]

4. you know for a free market system there sure are alot of rules

[rocktivity]

5. If I've learned anything at all in the past eight years

It's that a free free market system is a facist system.

:headbang:
rocktivity

[girl gone mad]

6. maybe next they can ban..

selling.