Subject: File No. S7-12-06
From: Darryl B Marlowe

March 28, 2007

How many friggin' times do we need to write comments for this issue of Naked Shorting and abolishing the illegal Grandfather Clause? I mean really, this is completely ridiculous.

Naked shorting stocks and then grandfathering failures to deliver goes against the vary reason that the SEC was created. The SEC is supposed to protect investors not perpetuate fraud and illegal activity from the same brokerages, market makers and executives of Wall Street that they were put in place to regulate.

End this nonsense before We the People stand up and cast out of office those that trample on our rights.

"Governments are instituted among Men, deriving their just powers from the consent of the governed, That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.

But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security." (The Declaration of Indepenence, 1776)

You have enough comments and have taken more than enough time to eliminate the Grandfather Clause in REG SHO. Now do your job and eliminate it as well as Naked Short selling of securities, and take a little pride in the fact that you are cleaning up a mess that should have never been tolerated in the first place.