February 23, 2009

Subject: File No. S7-08-09

Dear SEC,

Now that there is new management there it is absolutely paramount that you waste NO more time in re-instituting the uptick rule and eliminate leveraged short ETF's. They are being used to systematically decimate shareholder wealth, and soon there will be ZERO investor confidence in our system and its fair and equitable rules.

If not done ASAP, you will no longer have and "secutrities and exchanges" to preside over..........


Tom Kraus