Subject: File No. S7-08-09
From: s s

May 5, 2009

Please overlook errors in grammar and spelling.

There is nothing wrong with short selling and in the present of environment of penny and fractions of pennies being involved in trading the up-tick rule is meaning less to me as an investor and at times trading for weeks and months, I do not day trade.

However what good scrutiny is how the companies, frankly of all sorts and most glaring of late the REITs which

1. have been issuing common shares (who approves them?) upon which brokers/banks such as Goldman Sachs which then pump it up and up and up and up (you should really stop all these pump dumps)

2. same companies issuing secondary common shares then slash their dividends and (here's what's really criminal though legal) they issue common shares in liu of dividends - which of course will result all the people who have been and will continue to be sold these REITs as source of revenue will then have to borrow money to pay taxes on the dividends which they never received (never mind not recieving the cash div. which they were relying upon to live on, which entails all the older people now having to borrow money in their 70s and 80s to pay taxes - and then having the shares that they just received in place of cash div. go down over 50 75% - this is criminal

Of course there is so much more to mention (which I am certain you are oblivious to) but this recent common shares in place of dividends really takes the cake for me.

There is far too much that is criminal in the stock market and you people know it. The pump and dump is astonishing, the thieves never rest a day or blink an eye taking your money no matter how small the amount and no matter how many billions of dollars they have accumulated.

All thieves.