Subject: File No. S7-20-08
From: Georganne K Rogers
Affiliation: Professional Marketing Director

August 8, 2008

I am really amazed that you have not implemented your temporary rule for the entire banking sector. You above all know that the decline of our markets directly correlates to putting in place new rules last year that favor the short sellers. Ever since then our markets have declined.

If you care about our country and our economy, there is no other answer than giving the banks a reprieve from this naked short selling- not just the favorite banks but all of them. The short sellers now are just targeting the smaller ones harder now that you have taken away there ability to short the large ones. Look at what happened today to Washington Mutual. The market goes up over 300 and poor WM gets slaughtered again. What happens on August 12th when you give these money powerhouses the power back to short Citi and JP Morgan? My guess is a gut wrenching decline. Our country cannot take this any longer as the stock markets drive consumer confidence into the ground.

My question is how can you sleep at night knowing you could do something and instead you do nothing. You could have stopped this long ago but have willfully chosen not to. WHY????