Subject: File No. S7-08-09
From: Timothy Scott

May 5, 2009

Short selling did not cause the problems in the market. It did exacerbate them.

Naked short selling deserves jail time.

I am in favor of the uptick rule.

I also think fractions should be brought back. Trading in pennies has caused much wilder volatility than when stocks were priced in fractions. There are less shares available at all price levels. It was thought penny increments would give investors better, fairer prices. With few shares available at each level it is harder for investors to get a fill at the price they want.