August 21, 2007
As you progress in your efforts to close the loopholes involved with naked short selling, 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. I think that is an obvious commonsense recommendation...".
Thank you for your consideration and continuing efforts to protect the average investor.