Subject: Up tick Rule

May 10, 2009

Ms. Schapiro

Don't you think some smart people learned something during the depression and realized that a small group of people with a lot of funds could cause total havoc to the market and ruin the entire market and the lives of many people while they live off of every ones pain. Who at the SEC had the brainstorm to change a law(Up Tick Rule) that has been implemented for over 80 years.There is no doubt that a few big hedge funds who probably have banded together are selling short so much that the market cannot absorb the volume.

Ever since the Up Tick Rule changed during the summer of 07 the market has been going down. 98% of retail investors are getting killed so a few big hedge funds can make a lot of money.

The SEC made a big mistake by changing a rule that has been in place since the depression and it is time to correct the mistake that the SEC made and re implement the UP Tick Rule in its old form Immediately.

Question I read something a politician had said and wondered if it was true ? he said if you buy long you have three days to deliver shares. If you sell short you have 13 days to deliver shares. if this is true WHY DO SHORTS GET TEN ADDITIONAL DAYS ?


Richard Joseph