Subject: File No. S7-12-06
From: Gilbert M Erskine

April 23, 2007

As of 04/23/07, there have been 857 comment letters on Amendments to RegSHO since the first one on 07/16/06.

A 100% audit of these letters show---

Individuals opposed to amending RegSHO 9
Organizations opposed to amending RegSHO 14
Letters not relevant to RegSHO 7
Individuals organizations in favor
of amending RegSHO 827 (96.5%)

As more and more investors have become aware of the enormity of the problem of abusive naked short selling, the bulk of letters favoring amendment cite---

1 Elimination of the grandfather clause
2 Elimination of the option market maker exception
3 Concern over the breakdown in enforcing
law and policy at the SEC
4 Other detail concerns relating to transparency
and appropriate disclosure of information

The NCANS letter of 09/30/06 has (adjusted) 1,049 signers.
Many individual's on other dates have written more than one letter. A conservative estimate of individuals organizations favoring amending totals 1,800. This dwarfs the 23 individuals and organizations opposed to amending.

A number of individual's letters detail specific instances of the devastating loss of investment capital when, as shareholders, their companies have been targeted for rampant abusive naked short selling practices.

The SEC's INVESTOR'S ADVOCATE formally states, "This mission of the SEC is to protect investors...As more investors turn to the stock market to secure their future, our protection mission is more than compelling than ever."

The question that everyone has now---

Why is the SEC so slow, so blind, so ineffective, in
dealing with such a major problem in the American capital markets?