The "No Loss Sale" Rule

"Cox: But I was getting a pedicure the other day and I thought, 'Why not just short selling?' What about ALL selling?' Why not make a rule that prohibits selling a stock for a price lower than the last trade. We'd stop losses altogether. Everyone would make a profit. Unlike some of these other measures you've heard today, it wouldn't cost taxpayers a penny. So, what do you think of the Cox No-Loss Sale rule?"