Subject: File No. S7-08-08
From: Joseph Arceri
Affiliation: President, Praxis Consulting Group

July 26, 2008

Naked Shorting is illegal. The SEC should enforce this law as it applies to all naked shorting. Merely excluding 17-19 financial firms from this practice implicitly allows it for all others. Enforce the law for all companies. Too many manipulators are using naked shorting to take down companies unfairly. Stop this practice now and reinstate the "up-tick' rule while you're at it.

The SEC has lost all credibility in its non-enforcement of market manipulations.