Subject: File No. S7-08-09
From: Adam Axler

May 10, 2009

Dear SEC,

Please change the course of your recent administration by actually functioning as a market watchdog. Reinstating the uptick rule is not the way to do this. In this era where accounting is suspect at best, reducing the ways in which we can punish those companies that are lying to their shareholders is counterproductive. Even abolishing short-selling entirely two times last year did not prove effective as a means of propping up the market, nor should it have. It is time that large banks face the fate that the rest of America and its small businesses have over the last 18 months.

Thank you,