Subject: File No. S7-08-08
From: Lee J Basey
Affiliation: USPTA

May 19, 2008

In regards to naked shorting. We (the public) have been bashed over the head by the SEC for years saying its never happened. We are just shareholders who are crying over our shareprice going down. Even the head of the SEC was guilty of more times than one saying that publicly.
In regards to CMKX: We are still being told it never happened. It was just unregistered shares being sold into the market. BALONEY Every broker selling CMKX knew they were selling shares into the billions day after day after day. And it continued for months. The SEC has never admitted all the brokers who broke the law. Not one has been penalized with the exception of Nev West. Who is quilty but is being made the scape goat.
Why was Robert Mahue not charged by the SEC?
Why was Roger Glenn not charged by the SEC?
Why was Donal Stocklein not charged by the SEC?
There is so much evidence to charge brokers, the above individuals, The SEC itself with. IMO if the SEC doesn't do right by the shareholders I can tell you there is going to be a lot exposure to the public on these issues.
The SEC is basically worthless when it comes to protecting shareholders. And if they do charge company officials with a crime. The cheating officials make 50 million and are fined one million. And of course no criminal charges are ever brought.
To put it bluntly people are feed up with the "SYTEM"
And all we ever ask for is an equal playing field. I meet with a group of shareholders regularly. Over a thousand people in our group. NOT ONE OF THEM HAS MADE A PROFIT SINCE WE WENT AWAY FROM USING FRACTIONS TO TRADE
This is a very sad state of affairs for the American people. We are sick and tired of the SEC and of how it operates.