October 10, 2008

Subject: File No. S7-08-09

It is a pity your entire operation cannot be dissolved tomorrow. You bowed to the pressures of the big boys and allowed such incredibly irresposible instruments as naked short selling to make its ugly comeback. Knowing the history of this insidious trading tactic you gave it full license knowing the hugely negative impact it would have on 'targeted' stocks and their individual investors. You knew and bowed to the pressure of wall street greed. And you eliminated the up-tick rule.....again bowing to the pressure. You abdicated your responsibilities to protect the individual investor & succumbed to the pressure. The new administration should start at the top and remove every last one of you......as government hacks you surely will not step up to the plate and resign which is the honorable thing to do.