July 12, 2008
Re: Comments on Proposed Amendments to Regulation SHO
File No S7-19-07
I appreciate the opportunity to provide comments on the Commissions proposed amendments to Regulation SHO.
I believe the naked shorting problem in our financial system to be the worst injustice ever unleashed on the American investing public. I have seen many companies that have been destroyed by this practice. Many average Americans have seen their retirement savings reduced or eliminated because of this very problem. It is beyond belief that this practice has been allowed in this country. To have grandfathered previous naked shorting is nothing but a slap in the face of the investor. Many people that are aware of this practice are to afraid to put any additional money into a market that is not fair. It is my opinion that if this problem is not fixed immediately, this country may never recover. My belief is that it may already be to late and that serious consequences are inevitable. If I were to counterfeit 20 dollar bills out of my basement, I would be put away without delay but for some reason if you counterfeit stock, you need a comment period to take any action. Please enforce the laws you have on the books against fraud in the market.