Subject: File No. S7-08-09
From: Richard L Hurley
Affiliation: IT Professional

May 5, 2009

It's obvious to 401K investors that the ridiculous mark to market accounting rule changes, the elimination of the uptick rule in 2006/7, false rumers, and illegal naked short selling allowed the hedge funds and short sellers to steal a huge percentage of 401K investments.
The idea of a circuit breaker will not work because the shorts will steal 10% a day and after 10 days a company is gone. The only answer is to re-instate a tougher version of the old uptick rule. This will help restore confidence in the markets and provide investors a measure of protection against the hedge funds and short sellers.