Subject: File No. S7-21-09
From: Frances Borda

Jun. 10, 2010

To Mary Schapiro and her group :

Your job SHOULD BE OBVIOUS TO YOU. Here it is,courtesy of Doug Kass :

  1. Institute a transaction tax exclusively devoted to high-frequency trading strategies. While I hate this idea, it would immediately and dramatically increase the costs to high-frequency traders and reduce the incentives and edge of many price-momentum strategies).
  2. Bring back the uptick rule for shorting. This short-sale rule was eliminated in July 2007 -- its original purpose was to prevent traders from being able to force prices downward. Bring it back!
  3. Disallow the ability of high-frequency traders to see order flow and to discover stop levels.

The only question is, will you wait until the Stock Market has been completely destroyed ???

A Disgusted Citizen,
Frances Borda