Subject: File No. S7-08-09
From: David Green

May 9, 2009

I agree the uptick rule should be reinstated. However, Liberals (such as Cramer) are well known for wanting to implement NEW rules (i.e. banning "short" ETFs, banning guns), justified by the lack of effectiveness of the OLD rules, which inevitably were NOT enforced. "Naked shorting" HAS been illegal and still IS illegal. The lack of enforcement by Christopher Cox and the SEC caused the problems we recently experienced, not the lack of a law. Short ETF's allow the small investor, those without huge sums of investment capital or margin accounts, to capitalize on a downward moving market. In my opinion, a little enforcement and an updated uptick rule would help restore confidence to a market that badly needs it. But more importantly, how about going after the rumor mongers that spread false information in order to panic the market for personal profit? That's where the criminality lies. Back in September you could see it float around the floor of the NYSE like a fog- and I was watching on CNBC. If I can see it from 600 miles away, how could you people miss it?