June 23, 2009
Securities and Exchange Commission
Dear Sirs:
I am encouraged to learn that return to the uptick rule is being considered. I briefly viewed your File Number S7-08-09 which refers to the uptick rule. I am concerned that you are taking a very long time to make this badly needed change. We recently experienced a near melt down of our nation's financial system. Removal of the uptick rule and subsequent manipulations or "bear raids" played a part in the failures (e.g. Bear Stearns and Lehman Bros.). Without the uptick rule small investors must presume an ever more volatile and manipulated market. Many will choose not to invest or will reduce their exposure. Please implement the uptick rule as soon as possible.
Sincerely:
John Burtt