March 27, 2007
It is my opinion that the erosion of investor confidence will continue to spread as long as the fails to deliver Grandfather clause of Reg SHO continues to exist. Confidence in the system is absolutely essential if the investing publlic is to bring their hard earned savings to an enviornment where delivery of property is not mandated....without exception. The hint of improper trading practices cannot continue to exist and, in my opinion, that is exactly what the grandfather clause of reg SHO allows. It is imperative that this loophole be closed immediately.
Michel G. Maggio