Subject: File No. S7-12-06
From: Jean Westcott

April 9, 2007

To the entire staff of the SEC,

Thank you for this opportunity to comment on this critically important issue.

Unlike years ago, the public can now easily see via the high visibility the internet provides how corrupt this is. Every hard working American with 401 K's and retirement funds, nevermind the average retail investor are to entitled to have real shares for real money. Many if not most of these victims are unaware of how they've been defrauded.

I can guarantee you that investors are required to pay for trades before they receive settlement benefits and there is no multi billion dollar discrepancy there. If Wall Street can figure out a way to make sure trades are paid for, they can figure out a way to settle the trades and GIVE THE DESERVING PUBLIC THE STOCK THEY PAID FOR We will not settle for less.

There's nothing complicated about it at all.

Stop aiding and abetting the fraud now and get rid of the grandfather clause and any other loopholes that circumvent the law. Make trade settlement as timely as payment requirements are for stock purchases which is immediately.