February 20, 2009

Subject: File No. S7-08-09

I am sitting here in disbelief, I was sure that as soon as the new administration took over the first thing you would do is to undo the worst mistake George Bush made as President. That was to appoint C. Cox and allow him to get rid of the uptick rule and allow double and triple leveraged short funds. Why we can not have the same rules as we had from the 1930's until 2005 I do not know. If you can not see what is going on you are all STUPID!! The so called Middle American works during the day and has put their savings into 401K's. These people are not allowed even if they could to invest into these toxic funds. What is happening is people are using these funds to cause panic. I have seen the dow and S and P sitting near break even and when there is a small tick down people jump into the DXD, SDS and other funds that should not exist and crash the market down a couple hundred points in no time.
People are benifiting from these funds at the expense of the avreage American. It is easier to scare hell out of people than to make them buy which is why you never see the market go up 200 points in 10 minutes. Can you please undo what GWB and C Cox did and replace the uptick rule and put the 'panic toxic' funds out of business.