Subject: File No. S7-20-08
From: Michael Rice
Affiliation: Founding Partner Sterling-Rice Group

July 24, 2008

Naked Short Selling is illegal and destroys investor confidence in the market and the SEC. It is time to draw a hard line (vs a soft one) on this issue and let those who have made windfall profits from this illegal activity restore some of that value back into the market.

It is the right thing to do. I hope you will not cave in to the few that have hurt so many retail investors. Thanks you for listening.

Michael Rice