Subject: File No. S7-08-09
From: Steve Jackson

May 4, 2009

Your pilot program is flawed in that the market was in strong bull mode during the test period. The giant hedge funds are manipulating the markets with short sales. They have enough maoney to move the market up short term and short it the next day and drive it down while making money in both directions and leaving the public (who think they are making an investment) holding the bag I personally think short selling should be banned completely, not just naked short sales. The XXX ETF'S should also be done away with.
The other thing I worry about is that with the advent of the home computer, the market has turned into an online casino for the general population.