Subject: File No. S7-08-09
From: George E Arras, Jr.
Affiliation: Stock broker

May 8, 2009

I believe the elimination of the uptick rule was both ill concieved and ill timed. It served well for 70 years and should be reinstated. I believe the untethered ability to sell short exacerbated the declines over the last two years. The SEC should also stictly enforce the rules against "naked short selling" and severely punish abusers.