Submitted by Don Coyne, Sep 18, 2008 16:22

McCain is right. The SEC under Cox is largely responsible for the increased volatility in the stock market. This is a copy of an email I sent to clients and friends on July 27, 2007: "NO TICKIE, MUCH SICKIE by Don Coyne The powers that be seem excessively cruel; They've abolished the required uptick rule. And so the market seems more of a beast Since daily ranges have now increased. As shorting traders go to town And push the market further down, They'll also help each rally extend As covering comes in to help the trend. It now will test most traders' ability To cope with the increased volatility. Earlier this month the short uptick rule - which only allows short trades to take place when a stock trades higher than the previous trade - was eliminated by the SEC. Now any individual stock can be shorted all the way down. I don't know what they were thinking, but it does seem likely to contribute to more and greater wide-range days." Don Coyne, Coyne Capital Management dscoyne@hotmail.com

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