Subject: File No. S7-08-09
From: Robert Smith
Affiliation: concerned investor

April 25, 2009

Please do not reinstate the uptick rule or place new restrictions on short selling. Short selling is healthy for the markets since it provides another set of buyers and sellers, which allows for an efficient and liquid marketplace. The recent downturn wasn't caused by short sellers, but was created by mismanaged companies and the collapse of the housing bubble. Thank you.