Subject: File No. S7-12-06
From: Stephen Shimic

April 2, 2007

Eliminate the "grandfather clause" immediately. The SEC has no right to allow counterfeit and generations of bogus shares that were counterfeited prior to Jan 2005 to remain intact, eroding our market.

The grandfather clause is an illegal manipulation which continues to allow off shore hedge funds and others to rape, pillage and plunder the American economy.

If the SEC is our only regulator and allegedly exists to protect the investor, it should never have allowed such a fraud to happen in the first place. This is treason.

We are now in the process of rescinding a SEC perk for those that illegally sold shares that they did not own. This in turn caused the American investor and numerous companies to lose hundreds of billions of dollars bankrupting those individual investors as well as driving many companies out of business.

Rescind the grandfather clause that was thrust upon us without voter or investor comments. It appears that a second comment period is nothing more than another stall tactic by the SEC. Time to rescind the grandfather clause.