Subject: File No. S7-08-09
From: Michael Sacks
Affiliation: Financial Software Manager

May 14, 2009

Please take the following actions to protect capital formation in the capital markets:

1) reinstate the uptick rule with no carve-outs or exceptions.

2) enforce the law with respect to naked short selling

3) ban the ultra-short ETF's, which make a mockery of margin constraints.