Subject: File No. S7-19-07
From: cmkm diamonds cmkx shareholder

September 12, 2007


The existing system has many loopholes that have been shamelessly exploited for years.

It has been noted that the SEC has let Wall Street dictate the majority of rule changes you've made in the past few years.
It is wrong that the benefits of those changes benefited few (wall street) and harmed the rest of majority (companies, individual investors). These are not fair markets as long as the financial benefits, privileges and rights of few are greater, more important and more protected by sec and the system then the application of equal rights and fair markets for all.

#1.
Regulation SHO had not been implemented or enforced the whole time it existed.

Trading desks repeatedly created fake, counterfeit, highly dilutive shares of a particular issuer by selling short from one account to another account, so that the second account would thus be "long" the same shares.

SEC must move to a regulatory position as promptly as possible that allows no transaction whatsoever in registered securities without actual delivery of shares by the seller within ten days (T+10).

#2. The Option Market Marker exemption allows for unlimited quantities of stock to be sold, exceeding issuance. This has harmed investors, by creating counterfeit stock. This rule needs to be repealed.

Please strip the short sale exempt rule from your records and make all adhere to the same 3 day settlements, no exemptions.

#3. Please include a provision to limit the amount of shares floating around the Depository Trust and Clearing Corporation.

As stated by Sen. Bennett (UT) in his address to the U.S. Senate (7/20/07), "Once they (DTCC) have reached the point that 100 percent of the shares they have on deposit have been loaned out, they can't loan out any more.

#4. Further, eliminating the UPTICK RULE, has facilitated bear raids, in which we have seen since the rule was implemented, that should be reversed as well. We need the uptick rule reinstated.

#5. The only way companies could even get the count of their shares is by calling for certificates. Paper certificates need to still be available to shareholders and companies when they want to get the real count of their shares on the market. It is the right of the shareholders invested in a particular company and its management to call for pull of certificates in order to protect themselves from abuse of illegal counterfeit naked short shares. SEC as a regulatory agency should be supporting companies in correcting the wrong that has been done upon them and not trying to stop them from pulling the certificates while SEC is aware of manipulations in the market place that still have not been corrected.

#6. Transparency on the amount of naked shorted shares fake, counterfeit dilutive shares, those shares over the count of shares issued by the company itself has been veiled and denied by DTC to be told to the companies itself. Now why is it that companies themselves are being denied information on amount of naked shorted illegal fanthom shares of their company in the market? That is not right. Specially when DTC is in the know of the numbers over the legal count of shares and how many are out there over the legal amount issued. What we need here is transparency.

All of these things have contributed to unfair markets we have today. As long as the markets are unfair and laws are slanted to benefit special minority interests,and no transparency, somebody will be taking advantage of special privileges and others will suffer and loose because of it unfairly.

You have received so many comments now and in the past from people that have already been damaged by all these wrongs as individual shareholders in companies they invested in, companies built and lost due to wrongs in the market, jobs lost, savings and retirement money lost, comments about how wrong things are even by those that are working in financial markets themselves.

It is quite clear that SEC is aware of all the problems as others are as well that have posted their comments. They not just posted the problems but the solutions as well. Now its time for SEC to show that fairness in the markets for all is what they are most serious about and in timely matter as well.

There are other business fields that do have fair rules for all. Equal fair rules for all. There is no reason that our financial markets can not have fair rules for all and prosper. Prosperity for all and same fair rules for all.

We need that as soon as possible. SEC has a real opportunity for greatness here but time is of the essence. You got our full attention SEC.

Thank you.