From: Dennis Smith
Sent: March 26, 2007
Subject: File No. S7-12-06

Ms. Morris:

You are kidding with this ludicrous extension of the "comment" period re the criminal "grandfather" clause in Reg SHO, right? Precisely how long should it take to determine that counterfeiting by any other name is still counterfeiting. Plainly, the SEC is stunningly inept at best, covertly conspiratorial at worst; everything points to the latter. Shame on you; the SEC has become the enemy of the working class investor and the bedfellow of the already bloated. More and more average small fish investors (like me) are wising up to whose interests you are really protecting; it sure as hell isn't ours.

Dennis Smith
San Diego