Subject: File No. 4-581
From: Robert Jacobs
Affiliation: Certified Systems Engineering Professional, Capt USN (ret)

May 29, 2009

Bottom Line: restore the uptick rule and return the stock market to a market basis, not a casino rigged against the public.

Just like forces in nature, the market needs to be able to move naturally, but it must be controlled (i.e., regulated) so that short term radical moves are dampened out. I believe the SEC has completely failed in properly regulating markets. The short selling is just one example. Get the capital markets under regulation so that stock prices reflect underlying value, not short term betting and the effects of pathological greed.

I am disgusted at the obvious incompetence of the SEC during the last few years.