Subject: File No. S7-19-07
From: Larry Jelen

July 18, 2008

It is truly a shame that the naked shorting activities by the Wall Street predators is allowed to persist at the current levels. This amounts to nothing more than legalized theft in my opinion and is a classic example of the the disconnect between Main Street and Wall Street and their ability to gain from others' losses by assuming the attitude that the rules do not pertain to them somehow. Market confidence will never return to previous levels unless the common man has some assurance he is on a level playing field.

Respectfully,

Larry Jelen
Individual Investor