Subject: File No. S7-08-09
From: Robert W Stieber, Ph.D.
Affiliation: Microbiologist

May 5, 2009

1. The uptick rule should not have been eliminated in late 2007. The evaluation used to support the elimination was faulty. The uptick rule should be reinstituted and not be a "watered down' version. The uptick rule was in place for approximately 70 years - a period where the financial markets were in good order.

2. Naked short selling is fraud. Laws against naked short selling should be enforced. Recent and new financial instruments to get around naked short selling should not be allowed.

Thank you.