Subject: File No. S7-12-06
From: Patrick McClain

March 30, 2007

I have been screwed by so many companies doing reverse splits, where the SEC does not investigate or put a stop to the share dumping. I have been screwed by companies like Global Crossing, who flat out lied to their shareholders, watched them go through proceedings, only to be back to trading as though nothing happened. I have invested in companies, where the SEC did not investigate their false claims, until years AFTER and wrongdoing, and received NOTHING for my invested dollars. I have seen scam after scam, where the SEC turns a blind eye. Now is the time to revoke the "grandfather clause" that, once again, screws the investors and looks out for the big guys. The "clause" should have never been included in the first place. It was and still is, just another way for the SEC to work with big business and the scammers to rip off the American public. Why was the SEC formed? Honestly, I think that the SEC needs to be investigated by Congress, whether this clause is eliminated or not. Obviously, this comment period is just another stall tactic. I think these criminals have had more than sufficient time to cover their illegal trading practices. Is anyone really listening? Does the SEC exist to help the scammers? Screw the masses? Just another pointless exercise in democracy.