Subject: File No. S7-08-09
From: Bion Bierer
Affiliation: Retired corporate manager

May 5, 2009

The basic purpose of the stock market is to provide publicly listed organizations with the ability to manage capital according to the needs of their business enterprises and simultaneously allow shareholders to participate in the fortunes of the company. Otherwise, why would a reputable firm want to list a security? The removal of the uptick rule for short sales, a rule that worked well for many years, by its removal helps large speculators unduly influence share prices for short term trading profits and take advantage of whatever slippage might occur in borrowing shares to cover their short sales. The uptick rule should be reinstated to help preserve the integrity of operation of the securities markets, an integrity that has weakened to the dismay of this individual investor.