Subject: File No. S7-20-08
From: Joel Kopel

July 24, 2008

Your selective enforcement of naked short selling for "your" favorite banks is highly illustrative of your partiality in enforcing the law. Why do you not enforce the law regarding naked short selling for all companies? Have your responsibilities to the investing public been compromised?

It's about time you protect all investors, not just ones who apparently have aligned their interests with yours. Did you forget your obligation to the entire investing public?

Your selective enforcement of the law is disgusting. It's no wonder our financial system has collapsed