Subject: uptick rule

January 31, 2009

One of the simplest but most important and effective initiatives that the SEC could undertake immediately to combat market volatility is the reinstatement of a so-called uptick rule.

For more than 70 years, the uptick rule curbed short-selling runs until, short-sightedly, the Commission revoked it in 2007. So much for the inteligence of the commission.

The lack of a price test in our exchanges created an environment that provided short sellers with the ability to both exploit and accelerate the failures of a number of companies, including Bear Stearns and Lehman Brothers, the collapse of which had a devastating effect on confidence in the U.S. financial markets.!Not that they didn't deserve the beating they got for being greedy and stupid, but it does hurt comapnies needlesly in almost all circumstances.

I urge the commission to use some common sense for once and re-institute the uptick rule.

Michael A. Trusky