February 27, 2009

Subject: File No. S7-08-09

Why are you not reinstating the up-tick rule to prevent against the onslaught of unscrupulous and perilous bear raid tactics by individuals, investors, hedge funds and investment houses against our publically traded institutions.

Coinciding with the elimination of the up-tick rule in 2007, our market has declined nearly 50 - 60%, with individual, large, multi-national, Fortune 50 companies, like Bank of America, Wells Fargo, CitiGroup, declined over 90% from last year!!!

While it's clear we are in a difficult operating environment, the price action of these companies in no way reflects the true underlying value of the companies. They may say that our markets are orderly, but it cannot be farther from the truth in times like these. Companies have absolutely no means to defend themselves against these sorts of short selling tactics. They are asked to operate in a public marketplace with their eyes covered, hands behind their back, feet tied and mouth muzzled.

Level the playing field, re-establish the uptick rule, at a minimum. Re-evaluate the mark to market accounting to assist companies value assets that have no readily tradeable market in the short term. Publically come out in defense of corporate America, not punish them!!

Please, these actions are absolutely essential to re-establish order and sense to our marketplace. Failure to do so would be condoning such acts, which I'm sure you do not.