Subject: File No. S7-20-08
From: Jong Moon

July 25, 2008

Is SEC only protect 17 banks in USA ?

All those guys who sell naked short move to the another bank and distroy the actual value of the bank.

For example,(I also a stock holder)Washington Mutual,has 3 times more volume than average volume.(181 Million / 65 Million average)

According to this company,(http://www.shortsqueeze.com/?symbol=wm) 276 Million shares are short.(I am not sure naked short included or not)

If Institutional Mutual Fund Owners(They hold 85% : 526 Institutions) individual investors don't sell the stock, how they buy stock to cover ?

Lot's of honest investors lose their hard making money to short sellers.

This kind of matter should be controled by SEC.(For all public company not allowed to sell naked short)

Thank you.