Subject: File No. S7-08-08
From: Tim Sutton
Affiliation: Trader

April 23, 2008

Dear Sir/Madam,

What an absolute embarassment this is to our industry. The fact that this FRAUD has been happening for so long with no enforcement should serve as a warning to each and every Investor in our market place.

This is not Nuclear Science and actually is basic enough to teach a six year old. If you buy a stock you pay for it, if you short a stock you deliver the shares.....period. What's the problem here? As the enforcement arm of the markets, why are people selling stock and not delivering the shares? More importantly, WHY ARE YOU NOT ENFORCING THIS? Every time an investor sells a stock, there is an SEC fee attached to this sale, to fund YOU.

Pretty simple, start throwing people in jail and start closing down the Hack Brokerage houses engaging in this BILLION dollar fraud. Start NOW, youy should have been doing this starting 15 years ago...don't wait any longer...make examples and make lots of them.

You have time to worry about and fine Brokerages for not "Time Stamping" tickets and you turn a blind eye to a Billion dollar crime.

You should be embarrased that in the ten minutes I've spent writting this, probably Hundreds of Thousands of shares have been "naked shorted" and why? Because they can and because they know there are no consequences...that is a strong potient for disaster...being able to profit criminaly knowing there will be no punishment.

PLEASE PLEASE...this is the biggest issue in the Industry...start throwing people in jail and start seizing assets of those involved.....TODAY.....


Lack of confidence in the Regulating Body
Tim Sutton