Subject: File No. S7-08-08
From: Karin H Acuna
Affiliation: Retired Insurance Broker

August 21, 2008

The moment the emergency order re Naked Shorts expired, the price of oil goes back up
and so does gold and commodities in general.
This is not due to the Georgian conflicet etc., that is baloney. This is due to rampant naked short trading again
with no oversight. Why was the emergency order not extended
until a permanent rule put in place to curtail the rampant
fraud perpetuated by wall street. This type trading is
destroying America's best Companies when there is no
real basis for the overall decline of the market, at
least not this extent. The SEC is negligent in its duty
to police Wall Street and establish fair trading rules.
The sheer amount of letters addressed to the SEC re the
Naked Shorts is testemony that the average Johnb Doe
investor is fed up with the corruption. Why not reinstate
the emergency order until new laws can be implemented
curtailing this fraud? The SEC appears to be sitting on its hands. A Congressional investigation ought to be held
on this matter. GET GOING on this issue, NOW. This is
bankrupting America.