Subject: Uptick Rule

February 4, 2009

Dear Chairman Schapiro:

With the rumor mill apparently swirling around Bank of America (BAC) and what appears to be a bear-raid in progress, wouldn't it be a good time to re-institute the uptick rule, enforce pre- borrow requirements, and suspend short-selling of financial stocks. President Obama deserves better from you in these early days. The SEC needs decisive leadership. I mean no disrespect, but since your swearing-in, you have been as absent as Chairman Cox.

Peter R. Mack
Peter R. Mack & Co., Inc.