Subject: File No. S7-08-09
From: Katherine Merrick

May 6, 2009

I am a senior citizen and have been investing in the stock market all my life. The uptick rule was expained to me in the 70's when I became a more advanced investor. This rule was sound and certainly be reinstated. And the extra condition that with a 10% loss no short selling should occur for at least amonth. Allowing brokerages and other dishonest people to allow short selling beyound the shares owned in the brokerage should be a federal offense with a minamum of 10 years no probation for every sale above the amount the person borrows. Shares can only be borrowed once and if someone sells shares at the brokerage shorts should be immediately called back. Naked shorts are dishonest and the goverment should be held responsible for letting these thieves destroy portfolios that we have worked alife time to have for our retirements. We did without to save to buy shares that will pay dividends that will support us in our old age.
Not allowing shareholders and the mutual and retirement funds that hold shares in American companies vote on the salaries and bonuses for the top executives is another way the goverment has completely failed us. They lay off the lowered paid workers to give themselves an extra million "because everyone is doing it" and I quote Mr. Snow at the CSX annual meeting at the Grenbriar. And the government picked this man to be in charge of our money. Wake up. We are sick and tired of being robbed. Short sellers serve no real purpose and large payments to chief executives do not get or keep good people.
If the SEC won't do the necessary the congress should.