Subject: File No. S7-08-08
From: wally collins

June 10, 2008

The S.E.C is always playing 'catch up' with the crooks although showing sympathy for many victims,. yet never recovering any losses,..its always ,we will close that the'loophole',..for instance the SHO regulations(grand father)clause, all the crooks that had ruined many people were given a (free-ride) then another 'loophole' closed but now that (SEC) have closed that 'loophole' AND NOW after 3 years and Billions lost by companies and investors we have a anti-fraud bill 10b-21
again allowing the 'crooks' to be ahead of the curve..The rules have always been in place for you to follow.