Subject: File No. S7-08-09
From: Marc Lee

June 8, 2009

I have no problem with short selling, it's a legitimate part of the game. I also feel that panic is so much easier to foment in the public forum than is confidence or optimism or reassurance that it is not a balanced forum without regulating short selling to a degree. This is just basic history. The uptick rule was put in place just for this reason, it worked well for 70 years, and should be reinstated. I also firmly believe that the rules against naked shorting need to be enforced more strictly-
No Borrow = No Sale.-
Please reinstate the uptick rule and enforce the current rules regarding naked shorting.