Subject: File No. S7-08-09
From: Mitchel W Eisenstein, LMSW, DC
Affiliation: Master of Social Work, Doctor of Chiropractic

May 11, 2009

Dear SEC Chairman,
Rennaisance Technologies, one of the most profitable hedge funds in the world, is nestled imperceptibly in my town. But who knows how they operate? NO ONE, they operate in a complete vacume. Their website has no email addresses, they are accountable to no one for their investments. What this means is that the average investor is a such a complete and total disadvantage to investing compared to sophisticated computerized, programmed trading, that this hedge fund can make on average 40% returns per year when the average investor lost 50% of his entire portfolio. Much of this was due to naked short selling, which allows hedgefunds and investment banks to leverage money at 30 to 1 and bet that a stock will go down. Without the uptick rule, all the hedgefunds can get together on rumor and drive a good company out of business at worst, and at best, create massive volatility in which the average investor is terrified and sells at a loss but which the hedge funds thrive in. These wolf packs are predators against legitimate investment. They are making money off of money alone. There is not even a little concern about the fundamentals of a company except as a measure of how long to hold an investment. How can an individual compete against these microsecond hedges? why am I constrained against selling the same stock twice in one day, but a hedge fund can just trade every other second, infinitely. Where is the equality? Is this not a monopolistic destruction of the capitalist system when the market is prevented from balance by rules which let the wolves destroy the citizens for which this nation was created and is sustained. A nation whose laws protect and promote demagoguery, and a weakening of freedom of the indivuduals right to the pursuit of happiness, is a nation in crisis and it needs to be addressed with strong and forceful measures. Whilst providence favors the hard workers, and rewards them in equal measure, there are those who are not privy to the secret knowledge which would allow them to compete. We are thus witnessing the stratification of our society into layers of the impoverished, and where jobless recovery's are lauded by clueless economists who have now connection to the destruction of the american family. Restore the uptick rule, and go much further. There needs to be a social contract in america, which keeps companies from disposing of workers like so much waste. Yes we should not go back to being held hostage to corrupt unions, and unions should have limitations on them as well.