Subject: File No. S7-08-09
From: David Furr

October 28, 2009

Does this headline look familiar?

SEC Head Says 'Uptick Rule' May Be Reinstated
SEC Chairman Mary Schapiro says 'uptick rule' may be reinstated action likely next month

By MARCY GORDON AP Business Writer
WASHINGTON March 11, 2009 (AP)

Well, Whre is the promised uptick rule. We still want it. High speed traders don't want it. Goldman Sachs doesn't want it. Hedge funds don't want it. The individual investor is being robbed every day by the ability of institutional and high speed traders to short at the bid. They can now drive the market anywhere they want to, and the SEC has no tools to stop it. If one of these high speed programs fails, the damage incurred will make Madoff look like a model citizen. We might as well have kept the old administration, they were very good at selective enforcement, and allowing the inmates to run the asylum. Reinstate the uptick rule now. If you wait for another meltdown it will be too late.