Subject: File No. S7-19-07
From: Kenneth L. Raymond

July 18, 2008

It is obvious that there is illegal and/or naked short selling of stocks by market insiders. This is particularly prevalent in precious metal mining shares. The worst offenders seem to be hedge funds. I do not profess to be knowledgeable enough to recommend what you should do to correct the matter. However I an sick and tired of government programs that amount to "eyewash" or smoke and mirrors. We need some substantive enforcement and/or regulatory changes to prevent this stealing from honest investors.
Please do something to correct this situation immediately.