Subject: File No. S7-20-08
From: Michael Stoffer

July 23, 2008

Can you explain to me in good conscience how the SEC has allowed naked shorting to take place? I hear the SEC is
going to stop naked shorting only on 17 or so companies. Why not all companies? Doesn't the SEC know the difference
between right and wrong or good and evil? It's as though
the SEC is involved in organized crime. Anyone who sells
shares of a company that they don't own and have not borrowed should be fined and go to prison.