Subject: File No. S7-19-07
From: Dirk A Greene

September 12, 2007

The US market as well as all markets around the world must have fairness and transparency, in particular the elimination of nakes short sales and forcing settlement of trade within the T+10. I believe in a level playing field, where one wins or loses on effort, doing their due diligence and doing the right thing in all matters...the greater good.

I am asking the SEC to stop the manipulation of our stock markets. Investors are losing their financial security and futures through sanctioned stealing (naked short sales = fails to deliver). We are losing our position as world leaders through the actions of greed and lawlessness. Hundreds if not thousands of businesses are going bust because their stock value was manipulated and driven down to nothingness through NSS. The SEC and DTCC must take action to once and for all stop this practice, eliminate NSS and the Grandfather clause entirely, part I and part II.

As orginally enacted, regulation SHO failed to hold the markets accountable to the investor. Ironically, the SEC trusted the "honor system" of the member firms compliance operations and took out proposed language in regulation SHO that would have made it a requirement for the registered clearing agency that processed the transaction to refer the party failing to deliver to the NASD and the designated examining authority for such broker-dealer for appropriate action. That's asking the industry to be honorable and transparent without oversight, a practice that is never effective. Also within the original regulation, a grandfather clause was added which wipes the slate clean for brokerages found manipulating stock prior to SHO. This is plain wrong. The grandfather clause must be eliminated from the regulation and the stock market held accountable for past wrongs and injustices. The recent amendment acheives a part correction, but not entirely, take corrective action on part I and and II. Grandfathering is simply an evil, unfair, and orchestrated way for a privileged few to circumvent the very laws to which the majority must adhere. In the interest of fairness and equality, Wall Street is not the place where grandfathering should be tolerated. "Grandfathering is an outdated practice whose use should be limited to procedural matters such as building and zoning variances". Grandfathering past injustices simply does not right the wrong committed to the investor who has suffered significant financial harm.