Subject: File No. S7-08-09
From: Michael Doyle
Affiliation: INVESTOR

May 16, 2009

On the subject of naked short selling if you don't have the shares how can you sell them. If the market maker doesn't have the shares guess what the price goes up not down THIS IS SUPPLY AND DEMAND A MARKET MAKER IS NO EXCEPTION
I can't sell something I don't have that's fraud