Subject: File No. S7-08-09
From: JOHN J SCOTT, Mr.

May 5, 2009

Do not permit any form of naked shorting- fines and prison for offenders.
Require large short positions to be reported on same footing as longs.
Require three day settlement of trades - Fail to Deliver should be a red flag for investigation - and should have significant fine no matter what the cause.
Restore the uptick rule with a minimun of $.05.
Small retail investors have absolutely no confidence in the SEC - you are seen as partners and enablers.