Subject: File No. S7-11-10
From: Clyde C Grady, II
Affiliation: retired ChE, chemist, and computer programmer, MENSA member

June 11, 2010

Steps to find out after the fact how money has been stolen from individual investors should take a back seat to steps to prevent the theft from happening in the first place. The SEC should never have allowed and should not allow 40 "venues" to the market. The SEC should not have allowed and should not allow large trading houses to register trades of any quantity at millisecond intervals. The SEC should not allow "short selling" of stock. The SEC should not allow hedge fund managers and large trading houses to have level 3 access to stock information when individual traders can have only lower level of access. Anyone with experience in the computer control of processes knows that you cannot take control actions at intervals of minutes (ie. take time outs) when the process is being made to vary at millisecond intervals.

The function of the SEC is to protect citizens not to ensure that the exchanges and large trading houses make money by stealing it from individual investors or by extorting bailouts paid by taxpayers.