Page "Uptick rule" Paragraph 12

On August 27, 2007, the New York Times published an article on Muriel Siebert, former state banking superintendent of New York, " Wall Street veteran and financial sage ", and, in 1967, the first woman to become a member of the New York Stock Exchange.

In this article she expressed severe concerns about market volatility: “ We ’ ve never seen volatility like this.

We ’ re watching history being made .” Siebert pointed to the uptick rule, saying, “ The S. E. C.

took away the short-sale rule and when the markets were falling, institutional investors just pounded stocks because they didn ’ t need an uptick.