Frank: Uptick Rule Coming Back

I will give credit where credit is due. Barney Frank says that the uptick rule, which only allows short-selling of a stock after an uptick, or higher stock price than the previous trade, will be re-imposed within a month. Frank also said that the mark-to-market accounting rules need to be improved. Both of these items are long overdue and while they won't cure all the market's ills, it is definitely good news and at least symbolically important.

The shorts won't be happy, but too bad. It's the first positive thing Barney Frank has done in this mess, so for that, I applaud him.