Subject: File No. S7-08-09
From: john g gaw, esquire

June 10, 2009

While I believe there are appropriate uses of short sales, I believe the use of short sales as a strategy to force the price of a stock down so it will violate loan covenants with the resulting consequences is wrong and has resulted in hugh damage to the investing public, especially the small investor. Effective regulations should be put in place and enforced.