Subject: File No. S7-08-09
From: Robert Pegan
Affiliation: independent

May 8, 2009

I believe that the uptick rule prevents those with large sums to drive stocks lower by being able to short them and push them down because they have large sums to invest with lots leveraged..and they can make public statements about a stock to assist in driving it down..If Billionaire X says GE is on the verge of having financial problems MANY people will react to that and he then can with his large sums of money assist in driving it down...I may not be completely accurate but close..

Hedge Funds and their mgmt above all others benefit and make money here while the rest of us suffer.. Even Mutual funds cant do that ..