Subject: File No. S7-08-09
From: Bruce H McDonald

May 10, 2009

Any proposal you are suggesting would probably one probably drafted by the large investment bankers, hedge funds, personnel from Goldman Sachs or JP Morgan.

The President should just make the decision for you.

It is your committee that changed the rules to begin with and caused most of the problems in the financial crisis today.

It is your department that allowed every company in America to be shorted virtually and some actually out of business while you "watched".

What sense does it make to allow people to short securities that they have no interest in ?

What does a certificate of stock ownership mean if it can be shorted by those without in investment in the company.?

Look at Citi right now, can you honestly tell me that their aren't more shares shorted than exist(if you count the unissued shares that will be caused by the exercise of preferred shares?

Look at investor boards and note the existence of paid stock bashers

Look at the ficticious media stories planted by large short positions to cause and investor reaction.

You worry about Sarbannes Oxley and enforcing it on the other side of transactions

What is fair about the markets you regulate?

I am convinced(albeit somewhat of a conspiracy theorist) that the regulators are in on the whole thing and in the pockets of JP,GS and others.

You allow naked shorting for private placement, you allow Bernie Madaoff's.

Why would I want to comment on or expect your agency to create rules for the good of the investor...everything you do is only for a certain class of "investor".

You somehow managed to enforce Sarbannes Oxley by spending your entire time reading footnotes in financial statements when you should be trying to determine also who is manipulating markets, ruining companies, their ability to borrow(without resorting to PIPE financing/shorting), offshore companies and individuals ruining every pension asset in America, control over the naked shorts clearing house/reg sho that isn't enforced...on...and...on...

I think the President just needs to make a rule and get Congress to approve it and then assign regulators for the regulators. Just think how big government can get if we need regulatory agencies to examine regulatory bodies for compliance. What a country.

Yes I am bitter....yes my assets have been ruined...yes my pension assets are ruined...I actually try to make money in the markets...it's really not possible when in the control of others...Did you discuss things like Dendrpeneon's recent performance? Drop of 90% in a 70 second "bear raid"...guess that's ok too

I own three stock right now:

Citi...heavily manipulated

KOG....just had private placement of securities(they aren't announced until after dilution has happened) because of shelf registrations

Whiting Petro(not really sure if anything bad is happening yet or not)

You say, "Bruce" why do you keep doing this to yourselfAnswer..I have lost three times most of my assets in the markets....never mind

why ramble

Bruce McDonald