Timster

The Uptick Rule: Mr. Cox, Is It Really That Devilish?

As much as people think that Iraq will be George W. Bush's negative presidential legacy, I believe actually it will be his SEC and specifically Chris Cox. The history books, I believe, when attribute the accentutation of this financial panic to the actions of Chris Cox and Bush's SEC. The removal of the uptick and implementation of strick mark to market rules have given capitalism and markets and very black eye. Cox has done more to damage the world's faith in Capitalism than has ever been done before, in my opinion. Yes, we may have had a recession as all economies go through ecnomical cycles. However, the removal of the uptick rule has done much to accentuate the impact of this recession on our stock markets. Iraq, in the end, ironically, I believe will be regarded as a positive legacy for George W.