Subject: File No. S7-12-06
From: robert c lembo

April 3, 2007

Protecting investors from obvious manipulations of the system
should be the top priority of any regulatory agency since having an even playing field is the very least one should
expect in an already risky situation.
It makes me both angry and sad that illegal naked shorting is
allowed to even be debated. It must be stopped and those guilty should be penalized with a heavy hand with the intent of deterring others from doing the same.
The taint of corruption at ALL levels of this issue is one that will be hard to sanitize, given the publicity and awareness that has finally come to light.
The public deserved better. Now is the time for correction of a situation that most believe is beyond correcting. We'll see if the fox is guarding the hen house soon enough.