Subject: File No. S7-08-09
From: Charles Ostrout
Affiliation: Small Business Owner

May 15, 2009

As a retail investor and small business owner (with 401K plan) I urge you reinstate the uptick rule and place a ban on naked short selling. With the recent downturn in the markets, our 401K plan has been decimated by volatility directly caused by hedge funds and naked short selling.

Please help to reinstate stability to the markets by slowing down more volatile trading activities. Reinstate the uptick rule and ban naked short selling.

Thank you