Subject: File No. S7-08-09
From: James A Wilson, Mr.
Affiliation: Disabled Veteran -- investor

May 6, 2009

No one should be allowed to borrow stock to sell short because this opens the door wide to insider trading.

No one should be allowed to sell short without having enough cash to cover the same day. Investors who lose value because of short sellers do not get 3 days grace on their losses.

No one should be allowed to sell short if they have any judgements against them for any illegal stock transaction.

No one should be allowed to sell short any stock if they work for that company.

Etrade use to let people open margin accounts with a credit cards. I had to close the account because their account balences made trying to invest with only cash very confusing. I can imagine how they would confuse a short seller who borrowed stock.

Please act your the SEC for God's sake you do not need our premission do what is best. Of Course those making the most profit are going to complaon that is why the rules were changed to begin with Stop messing around and enact the best rules.

Thank you, James