Subject: File No. S7-08-09
From: Michael G Post
Affiliation: none

February 19, 2010

Upon reflection, my first reaction was a knee-jerk one. What in fact is needed is for the people who actually own the stock that is sold short to be adequately compensated for the loan of their stock to the short seller. Right now the brokers get compensated for the loan of the stock, instead they should earn a small commission and the actual owner should get the rewards of the stock loan. You don't need an uptick if the stock lender has to get permission from the true owner and the true owner gets compensated.