Subject: File No. 4-581
From: Larry E Licht

June 21, 2009

-I have stock in a company that is heavily naked shorted with millions of fails to deliver. I would like to know how someone can sell something that they don't own. Not borrowing stock to short before hand is just not legal. If I took money from someone with out delivering the goods I would be in jail. Why can dealers, brokers, and MM get away with this. Ban NSS altogether with fines greater then their gain, and wipe it out all together. Make borrowed shares a must before any trade can be made. Seems pretty simple to me, or maybe I am too honest to engage in this type of trading. Restore confidence in the system.