Subject: File No. S7-12-06
From: Dewey Cheatem, ESQ.
Affiliation: Dewey, Cheatem Howe (Barbados LLP)

April 25, 2007


YIKES (Exclamation point).

Have you heard what those Okies went and did?

OK State Bill 979 is, as I read it, the polar oposite of our Beloved Get/Stay out of jail travesty, er, regulation REG SHO. Why, it actually prohibits our beloved fraud, naked shorting/failure to deliver.

Why, the nerve of those backwater, fly over state hicks to go and try to protect their own citizens, just because the SEC has been sitting on their hands for the pasr two to three years while American companies and investors are swindled.
Why there is even talk of similar legislation in Utah and Connecticut (exclamation point).

Chris, we CAN NOT have a wave of states doing this. Aside from being JUST A BIT ah, embarassing to the SEC, it really cuts into our ability to carry on our nationwide swindle.

Ya gotta do something (exclamation point). Can't you claim jurisdictional authority to squash these do gooders?

I mean, before long, the SEC wil become irrelevant......

(Note to SEC mid level employee tasked to read these letter so there is plausible deniability as to whether or not the overwhelming majority of Type "A" letters were even read, this is yet another whiny Type "A " letter.)