Subject: File No. S7-08-08
From: Derek Johnston
Affiliation: Engineer

March 24, 2008

I have a comment why another comment period? How much longer are you going to purposefully delay fixing this mess which you have sat back and watched get created over the past years. Do you think a lot of talk and no action is going to fix this mess this time also? When has counterfieting ever been legal? I suggest you start trying to understand property rights first. I and so many other investors have totally lost faith and confidence in our markets that you try and regulate and the lasting affects of your inactions will ring for decades to come. Where are we at now $2 Trillion in Fails to deliver? I'm betting a year or 2 from now and a few mor comment periods more we'll be at $4 Trillion in Fails unless someone has some real balls to fix the real problem.