Subject: File No. S7-08-09
From: Alan W Ambrose

May 11, 2009

I have seen firsthand the destruction of our capital markets over the past couple of years, due in large part to legal short selling. We (the general investing public) need some protection against abusive short selling that continues in plain sight, and in the face of regulatory agencies that simply refuse to enforce the rules. I invest now almost as a day-trader, as I know that I cannot count on the SEC to take any meaningful action against the Wall Street players who willfully and deliberately manipulate the share prices of companies as they wish. What is being done to stop naked short selling??? Why is there still a "Madoff exemption" to the naked-short-selling restrictions??? Are you guys aware of who Bernie Madoff is, and what he has admitted to? Why is there still a Madoff Exemption in the naked short selling restrictions? Please help the average guy for God's sake We are being slowly bled to death by Wall Street criminals.