Subject: File No. S7-08-09
From: Bruce E Maryanoff, Ph.D.
Affiliation: Long-time investor

May 29, 2009

For more than 50 years, the uptick rule has served the large majority of investors by stabilizing equities markets and protecting stocks from noxious "bear raids". There was no good reason to abolish it. That action derived out of sheer ignorance of the relation between markets and human behavior. It is essential to the smooth functioning of such markets, and the economy as a whole, to restore the uptick rule.