Subject: File No. S7-24-15
From: Hans Hillmann

April 7, 2020

To whom it may concern, If markets only went up your proposal to not allow investors the right to purchase inverse or leveraged funds would be justified. But markets also go down and inverse funds allow investors to profit in down markets as well. This would take away a 50% chance for investors to profit. I think the sec needs to make stock buybacks illegal. Because tax payers always seem to have to bail companies out during the kind of crises that we now find ourselves in. BA or Boeing is a prime example. The SEC was formed because of the Great Depression. Stock buybacks and low interest rates and over stimulating the late cycle roaring 20s bull market all contributed to the Great Depression of the 1930s. President Trump played with tariffs and trade wars the way President Hoover did 90 years ago with the Tariff act of 1930. Where was another tariff act prior as well in 1928. Trumps tax stimulus plan that juiced the stock market these past few years is scary. Because it is simular to the tax cuts that happened back in 1926 and 1928. Winston Churchill said it best when he said that those who do not learn from history are doomed to repeat it. If what Irving Fisher said weeks before the Great Depression began, that stock prices have reached a permanently high plateau. Then I would be the first in line to agree with you and you would be fulfilling part of the reason you exist to protect the public or investor. Otherwise by limiting choice I see your proposal as something that is nothing more than keeping money in the hands of the few and keeping the rest poor if you can.