March 2, 2009

Subject: comments from a small investor

Dear Chairman Schapiro,

I am a traditional investor and have sadly watched my portfolio shrink to more than half its previous worth in the last few months. I believe that the SEC has been asleep at the wheel the last few years. I cannot believe that men such as Bernie Madoff and Allen Stanford have been able to orchestrate such astonishing theft. I am beyond angry. Here are a few of my constructive suggestions for reform:

• The SEC needs to enforce those rules already on the books concerning naked short selling.
• The SEC needs to reinstate the uptick rule because anything that contributes to the volatility of the market right now is very bad.
• Private equity funds and hedge funds must definitely be regulated.

Thank you,