Subject: File No. 265-27
From: Mike Nelson

January 26, 2012

I am of the opinion at this point the staff is providing window dressing based on political pressure

You raise the accredited investor threshold and then say we are going to make it easier to market to an audience we willfully shrunk

You have told Penson not to accept orders on stocks under $1: you discriminate based on price

You believe that capitalism is a continuing criminal enterprise and that if you made money on Wall Street you had to have victimized someone under your zero sum theory

You and FINRA and DTC conspire to choke off access to capital to small companies without due process (Issuers are frozen out of DTC without due process and phone calls aren't answered)How nice and convenient that DTC, an SRO, does the dirty work) Masterful Stroke Indeed.

Well, thats why there are no IPO's in the US anymore


You export a massive business offshore

You choke to death small business through cost to and the cost of remaining a public company

The pendulum has gone far, way too far

I would expect no less from career bureaucrats..