The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: Secret_Agent_Man who wrote (18432)	3/10/2009 1:58:20 PM
From: Slumdog	1 Recommendation Read Replies (3) of 71475

UFB!! House Frank Urges Reinstatement of SEC’s Uptick Rule By Christopher Stern March 10 (Bloomberg) -- U.S. House Financial Services Committee Chairman Barney Frank called for reinstatement of the so-called uptick rule as lawmakers aim to bolster markets roiled by the worst financial crisis since the Great Depression. Frank said discussion of the uptick rule, which aimed to curb speculators who seek to drive down stock prices, with U.S. Securities and Exchange Commission Chairman Mary Schapiro left him confident the agency can restore it quickly. “I am hopeful that the uptick rule will be restored within a month,” the Massachusetts Democrat told reporters in Washington today. Frank spoke after meeting with Democratic leaders including House Speaker Nancy Pelosi and House Ways and Means Chairman Charles Rangel on ways to restore confidence in the economy. Regulators are considering restrictions on speculators after the Standard & Poor’s 500 Index fell 53 percent in 20 months after the uptick rule was eliminated. Schapiro said in January during her confirmation hearings that examining the rule is “one of the things that I would be committed to doing very quickly.” Federal Reserve Chairman Ben S. Bernanke told Congress last month that the measure, removed after 69 years on the books, should be revisited.

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