Subject: File No. S7-08-09
From: Robert Johnson
Affiliation: Retired (Investing in Equities for 35 years)

May 15, 2009

At the least:
Return the "up tick rule". Eliminate "naked short selling"
It is bad enough that you can borrow a stock to sell short, but to not have a stock avaiable to short is pushing short selling beyond the limits of short selling. I do believe that short selling should not exist. If you don't own the stock in your account why should you be able to sell that stock. This is another "game" that was created so that investment houses could make fees and more money betting against each other. We buy an equity "long", because the business is healthy. If the business becomes unhealthy then you sell the stock, not borrow to sell.
It is too bad that someone did not come up with away to short sell a persons home. I can see it now. Hi,neighbor I want to borrow your house to sell short. No you don't have move out. Look at the wealth that would have been created HUM