Subject: File No. S7-08-09
From: William A Runner, Jr.
Affiliation: Retired VP, Bache Halsey Stuart, First Eastern Bank, PNC Capital Markets

May 31, 2009

Last summer I heard Mary L Shapiro speak in Wilkes Barre, Pa. and after her talk we spoke for a few minutes concerning hedge funds and the fact that I firmly believe that the SEC should control them. The time she spent with us was deeply appreciated and informative.

I feel that the removal of rule 10a-1 in 2007 was directed by Wall Street and the hedge fund industry and should be reinstated. The problems that the lack of an uptick rule created have been discussed totally. Simply reinstate it. Do not listen to Wall Street, hedge funds etc. they simply want control and of course more commissions.

Thank you for considering this most important vote.