Subject: File No. S7-08-09
From: newton c fawcett, Ph.D.
Affiliation: independent investor/trader

June 19, 2009

Proposed changes are an improvement, BUT THE REAL PROBLEM IS FAILURE OF THE SEC TO ENFORCE THE LAW WITH REGARD TO NAKED SHORTING Why doesn't the SEC continue to ignore the law? Naked shorting is illegal Yet the SEC continues to turn a blind eye to the naked short raids of hedge funds on small companies for purpose of driving their stock price down, and perhaps taking over the company. This is CRIMINAL activity that the SEC continues to turn a blind eye to Why doesn't the SEC require delivery in the case of short sales like the rest of the civilized world?

Newton C. Fawcett
Hattiesburg MS