Subject: File No. S7-19-07
From: wally collins, sr
Affiliation: small investor

December 7, 2007

Elimination of the grandfather clause,again was your way of 'embracing' Wall Street.There is no penalty for all the lives and dreams destroyed by 'counterfiet share trading'
Trillions of dollars stolen by your 'loopholes' that allow thieves to steal the Public into ruin.
Now the penalty for them is keep all the money you have stolen and just never trade securites again find another way to Rip of the Blind Public ok
There needs to be an ammendment to force them to pay back the money they have stole.