Subject: File No. S7-08-09
From: John Veneziano
Affiliation: Retired Morgan Stanley

May 8, 2009

The Short Sale rule should definitly be reinstated to perform the function for which it was intended and the reason it was formulated and put into effect. That intent was to Stop and Slow Down drastic market price declines as we have seen in the past 18 months.

Also, in the COMMODITIES FUTURES MARKETS, I would like to see the "SPECULATORS" BANNED from trading in the OIL AND GAS futures. In my opinion they are the primary contributors in most instances for accelerating the rise in prices of oil and gas, causing economic hardship on consumers, higher product prices and impeding economic growth.

Thank you for allowing me to present my comments.

John Veneziano