Subject: File No. S7-08-09
From: Gary Laajala

August 20, 2009

I'm an individual investor, or that is, would be. But, in 2007, coinciding with the repeal of the Uptick Rule, I learned the lesson that investing long on securities was just much too perilous. My defensive sell-stops were routinely taken out as the stock's chart dropped off the edge of a cliff. I realize that markets and stocks go up and go down, but this was too volatile, something more was at play here.
Could the recent spirit of deregulation and non-enforcement of financial rules be to blame?

Three things on my investing wish list:

1. Reinstate the Uptick Rule, as it was prior to 2007.
2. Ban Naked Shorting.
3. Ban/ regulate Short-Side ETF's.

Also, consider investigating the unfair ability of market makers to unfairly reach and activate the stop-loss orders of others. In other words, find out why the average investor is victimized by using Sell-stops, and look into why there is such broad discussion of all forms of MMM.

Please act