Subject: File No. S7-12-06
From: Brian J Birchenough, Mr

March 27, 2007

The existing naked shorting activity in our investment markets is continuing to thwart the large foreign investment dollars that are waiting for the USA to clean up our markets. What an embarassment to our mighty nation Aren't you supposed to protect us investors? This fraudulent activity has not only been tolerated but covered up by your agency (SEC). Chairman Cox stated that the "grand father clause" would be eliminated and now we hear you want to delay it again. Meanwhile our own president is promoting the stock market as a vehicle to enhance our retirement funds. Please wake up and stop protecting the multibillionaires and remember the millions of small investors.