Subject: File No. S7-08-09
From: Greg Lesko
Affiliation: Deltec Asset Management

June 17, 2009

The uptick rule should be reinstated. There is no question that unfettered short selling of specific stocks contributed to the panic of last fall. Prices is the most precious commodity in the financial markets and should represent the result of supply nad demand. Artificial supply created by naked short selling is a distortion.