Subject: File No. S7-08-09
From: Jeffrey J. Wells
Affiliation: Retired VP Branch Manager, Federal Reserve Bank of Atlanta

May 11, 2009

-The "Uptick Rule was good in the first place and should be reinstated to avoid the excesses that have occurred in the past few years.

I believe in free markets, but with reasonable regulation to avoid the imperfections and excesses that inrich some and hurt many.

We small investors can use all the help we can get to level the playing field.