Subject: File No. S7-12-06
From: Linda M Vance, Mrs
Affiliation: homemaker

March 27, 2007

-To Whom It May Concern,

As an American Citizen as well as an investor, I am appalled that the SEC would even need comments on this subject. Regulation SHO, or better known in the investment community as Regulation NO-SHO has been a total insult to the American people. Naked Short Selling is fraud and theft, and the Grandfather Clause is unconstitutional. Knowing that our financial system is being run in a manner that rapes and pilages its own people is a sickening thought and one that the American people have a right to know. To hear our President even suggest that we think about privatized accounts using such a corrupt system such as our markets, is a thought I cant even fathom. The Grandfather clause must be recinded, the fails must be covered, and the people that think they are so above the law that they can kill the American dream by running so many companies out of business with their own greed, must be prosecuted. I once believed that institutions such as the SEC, and the DTCC stood to protect the people from such actions as fraud, only to find that you are the very ones that promote and protect it. I am hopeful that not all are corrupt, and that these individuals will stand up and fight for what is right and fair. Please save our financial future before its too late. The rules that govern corruption in our markets are their. Please enforce them. Regulation SHO's grandfathers clause must be recinded and Naked Short Selling must stop.

Linda Vance