Subject: File No. S7-12-06
From: William J Robbins

March 16, 2007


I viewed a program on You Tube called Phantom Shares which has created quite a buzz at work. I spent the past two days doing some research on internet sites called the as well as reading past articles about naked short selling found on google search. I do not pretend to understand the concept of naked short selling, but I am smart enough to realize there is a serious problem. I am not a trader and do not invest my own money. I am a family man trying to make a decent living. My wife and I work hard to give our children a good life. We have 401k and recently discussed financial planning for college educations for our children. Based on what I have read over the past two days, we are scared of losing our money and have lost faith that our interests are really protected. I have read most of the comments posted here and there is nothing I can add that has not already been said. I don't understand how Goldman Sachs can not admit fraud but yet is willing to pay a two million dollar fine. Doesn't the fact they are willing to pay a fine kinda admit guilt? I read several articles about banks and brokerages being fined but not admitting guilt and nobody ever goes to jail. I don't understand? If I stole $100 dollars from my work, I would go to jail. If somebody gave me $5,000 for my car and then I sold it to somebody else, I would go to jail. I don't get it. I guess the old saying the rich get richer is true. I don't know what the answer is because I don't understand, but I think I understand that it is the SEC's job to protect me and my investment. At this point, we are going to take our money and put it in the bank and we are not even sure if that is safe anymore. On behalf of myself, my wife, my children and family, I beg you to do the right thing and protect us average middle class Americans from evil people stealing our future. Thank you for your time.

William Robbins