Subject: File No. S7-08-09
From: E Michael McConnell

September 18, 2009

18 September 2009

Chairman Schapiro:

One of the biggest errors in judgment of the last Administration was the withdrawal of the uptick rule. It has led to unnecessary ravages in the financial markets. Sound stocks have been damaged. Pension Funds, personal savings and much more have been decimated. The question is to whose gain? It is time to create rules to protect the average American and their savings.

Please reinstate the uptick rule before it is too late.

Thank You,

Michael McConnell