Uptick Talk – Gary Ackerman
Cramer welcomed Rep. Gary Ackerman, a Democrat from New York, and a senior member of the House Financial Services Committee, to the show to discuss his take on the uptick rule. Ackerman recently introduced legislation into the House of Representatives to reinstate the rule. “You should be sounding the sirens,” Ackerman told Cramer. “There’s a robbery going on.” Ackerman said its unbelievable that the SEC allows short sellers to pound stocks lower without having to wait for an uptick, or even without first finding shares to borrow. Cramer said he doubts the law will pass because powerful hedge funds have a way with influencing votes through donations and lobbyists. Chat and share ideas with the best small cap traders LIVE each day free at Stocknetworkonline.com
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