Subject: File No. S7-08-08
From: Jack F avery
Affiliation: Retired

April 28, 2008


In lieu of outlawing naked shorting all together, I recommend that the word "intentional" be deleted in reference to the failure to deliver clauses.

If traders/brokers fail to deliver in 3 days, they should be sanctioned regardless of intentional or unintentional. They have committed a fraud and counterfitted shares.

Jack Avery