Subject: File No. S7-19-07
From: Fred A Bufanio
Affiliation: Private Investor

July 19, 2008

We find ourselves as a nation with many problems in the financial community. It has been made clear that even the leaders of this industry are subject to bad judgement or greed. I feel it is the Commission's responsibility to err on the side of too much regulation in the matter of Regulation SHO. As a private investor I must have the confidence that I'm on an even playing field. My hope is that the Commission will plug every hole in the system to stop 'naked short selling'.