Subject: File No. S7-12-06
From: Paul LaSala

March 29, 2007

Naked shorting is downright stealing from the hard working average American investor. As we stand today, the proof is overwhelmingly clear that this rape occurs every trading day and nobody at the SEC has the courage to right this wrong
REG SHO has absolutely done nothing to stop the raping.
The "grandfather clause" MUST be rescinded immediately as the first step and then take giant leaps to correct this travesty