Subject: File No. S7-12-06
From: Joseph Simoldoni

January 15, 2007

PLEASE.... Do your Job and protect investors from Wall Street Bankers FRAUD. ELIMINATE THE SHO GRANDFATHER CLAUSE

MAKE THEM COVER ALL SHORTS, COUNTERFITE AND NAKED. This is Financial Terrorism PERIOD THEFT....PERIOD

If this is not handled properly the US Markets will eventually collapse. Stop it before it happens, unless this is all part of your plan and you (The SEC) are in fact in on the whole deal.