Subject: File No. S7-12-06
From: Rick Contreras

April 29, 2007

If the SEC says they can't stop the crooks who steal peoples investment by nanked shorting a stock on shares that do not exist to be shorted and who then pay no taxes on thier ill gotten gains, BUT THEY CAN REDUCE this activity by 79% if the

1). grandfather provision is eliminated
2). and the options of market maker exception are narrowed

then for sake of the investor, legal treasury, even our national security (imagine what foreign big pockets could do) it is essential the SECs recommendations to revise the rules to

1). eliminate the grandfather provision
2). and narrow the options of market maker exception

be approved immediately. I agree 100% with Michael Ryan's U.S. Chamber of Commerce letter on this matter.