Subject: File No. S7-12-06
From: Adam Hull

September 2, 2006

Naked Short Selling is a means of counterfeiting securities. The U.S. Constitution mandates that the Federal government:

Article 1, Section 8, Clause 6: To provide for the Punishment of counterfeiting the Securities and current Coin of the United States

Counterfeiting of securities clearly falls within SEC's jurisdiction. Therefore, the grandfather clause, which gives protection to counterfeiters, is unquestionably treasonous. Abolish it now