Subject: File No. S7-08-09
From: Randy Silver
Affiliation: Investor

May 12, 2009

The reason one should buy stocks directly,( or indirectly through mutual funds or ETF's) is to invest in companies.
Stock markets should be used to raise capital and a free market for the valuation and exchange of that capital.
There is no reason for short selling or ETF's that have short postions.If one choses to invest in a company , they should do so. If not, don't. Short selling is gambling or a device used to destroy the value of companies. Shorting does not do anything positive for the capital markets. Some do claim that it increases liquidity. If so, the damage is far worse than the benefit. I do understand that a complete ban on short selling will destroy the options market, but they never should have been created in the first place.
I am in favor, at minumum of the reestablishment of the up tick rule, but I would be more in favor of a complete ban on short selling.
Thank you for your concideration,
Randy Silver