Subject: File No. S7-12-06
From: Jack Janisch

May 1, 2007

To whom it may concern,
I am a small investor and an American, born and bred. An investor in stocks of all ranges and denominations with my own personal money. When I purchase stocks , I pay for them immediately with finances from MY OWN personal money.

Over the years i have watched my personal investing wealth diminish greatly due to NSS in the Market Place. This practice has been stealing MY money from my personal accounts far too long to be acceptable.
If I were the one stealing from the government, we all know that I would be incarcerated for dollars unlike those who have and ARE stealing 6 billion dollars per day in Fail to Delivers, 6 Billion dollars per day.

The SEC the DTC has known about this for years which makes me think the GOVERNMENT has known about this also and has been accepting it.
Now you want to take ALL of those stolen shares and protect them under the "Grandfather Clause." I can't understand WHY you do not force the thieves to pay for thier sins due to the fact THEY have been getting away with STEALING 6 billion dollars a day for ever?
My grandfather always taught me to stand tall, be proud of America, work hard, invest in America and you and your country will stand tall and proud together.

I can't see how you stand tall and proud with such a giant addiction on your shoulders. Yes, an addiction. An addiction to greed which has you hunched over like a crippled old man from the weight of it.

This grandfather clause has to be erased, never to be implemented again in ANY form whatsoever. You have to start protecting ALL investors and punish those who are systematically depressing and eventually collapsing our economy.

Kill the Grand Father Clause.

Jack Janisch