Subject: File No. S7-19-07
From: Dennis Smith
Affiliation: Consultant

July 22, 2008

Now that your (select) brokerage buddies are experiencing the same "naked shorting" or failures to deliver they themselves are guilty of perpetuating on others, the SEC leaps in to prevent "selective" naked shorting of those entities only, a real slap in the face (not to mention the wallet) to all "others" who have for years been greatly harmed by the miscreants you are obviously in bed with. The SEC, particularly under Annette Nazareth, clearly facilitated this fraud while denying the phenomena even existed. It would seem now the cat is out of the bag, but even now you are soliciting more "comments" before banning naked shorting across the board. What do "comments" have to do with the illegality of repeatedly selling what you don't own? The public isn't quite as dumb as you think, in fact we are truly mad as hell and, well, you know the rest. Do the right thing before your compronised agency goes up in figurative smoke and you're all out of your cushy jobs, making it more difficult to career segue to a plum position with one of the SEC's cohort banking/brokerage buddies the agency is hell-bent on protecting. What ever happened to the idea of protecting everyone? Not enough money it for you?