Subject: File No. S7-08-09
From: John W Golen
Affiliation: Trader

May 5, 2009

The methods you suggest (to short-circuit or circumvent illicit short selling) are interesting. I don't know how to determine if or how well they would work. I am in favor of anything that restricts naked short selling. I would like to see the rule against naked shorting reinstated. Understanding that there must be compliance with an such rule by foreign markets (which previously allowed naked shorting on American listed securitites), I am in favor of anything that will prohibit shorting without a corresponding buyer.