Subject: File No. S7-08-08
From: greg a randall

April 16, 2008

The abuse of "naked" short selling is a travesty against our fine market. The fundamental analysis of any company starts with total shares outstanding. Naked short selling allows these entities involved in this practice to increase the number of shares outstanding. Any new rule or regulation that doesn't strictly prohibit this practice will be insufficient. There should be no loopholes and no exceptions. In the day of T-3, and soon to be T-1 trade settlement, the inability to deliver securities in a timely manner seems kind of odd to me, considering the majority of security transactions are settled electronically. Please realize this "naked" short selling is leading to manipulation of security prices and also is leading manipulation of our markets. Please level the playing field