Subject: File No. S7-25-08
From: Stan Farler

September 17, 2008


I saw comments about your new short selling rules today on CNBC and then read them on your website.

It appears to me the new rule which is the old rule that was not enforced is finally an attempt to catch the fox in the hen house. The problem as I see it is that ALL the chickens are already dead.

Why did you give short sellers this one last day to pulverize Goldman Sachs and Morgan Stanley? It seems they just thumbed their noses at you.

Stan Farler