Subject: File No. S7-12-06
From: Boyd Zander
Affiliation: Structural Engineer

April 4, 2007

The ability to naked short stocks and fail to deliver for any period of time flat out wrong.

Grand fathering naked short shares is complicity on your part to the crime of counterfieting shares.

Fix the problem, don't be a part of it.

Regards,

Boyd Zander