Subject: File No. S7-12-06
From: Thomas Stephenson

March 28, 2007

Personally I welcome the reopening of the comment stage of this process. It shows possible capitulation on the part of people seemingly influenced by peddlars of the now shattered illusion that Naked Short Selling doesn't exist. If we all think back as little as a year ago, we can see just how vastly the investing public has changed and recognized this horrendous injustice that we have all at one time or another endured.

Naked short selling DOES exist. It is time for us all to encourage any of our associates, friends, families, and fellow traders to write comments on this rule. Obliterate any chance that the purveyors of the "non existant" argument for all time. Let's remove all doubt that the grandfather clause should be instituted immediately, and furthermore, make those responsible for naked shorting responsible and LIABLE.

Perhaps just as if not more important would be the SEC changing their policy of the non addmission of guilt wording we see in so many settlements. Embarrass some of the financial terrorists that are corrupting middle America and make them go away. Free our markets Free our Economy