Subject: File No. S7-19-07
From: Reinier M Tervooren

July 21, 2008

Re: ruling=s71907

Dear Sir,

The fact that the SEC all of a sudden finds it necessary to tighten the rules on naked shorting to protect the companies essentially represented by your board members leaves a very bad taste of selective justice.

Naked shorting is fraud and counterfeiting even when highly lucrative to some financial institutions who incidentally are represented on your board.

It appears the SEC is not sufficiently independent to establish its own regulatory rules in the interest of the nation and enforce the existing rules rigourously.

The rampant and uncontrolled Naked Shorting has resulted in hundreds of bankrupcies, ruining very large numbers of small investors and discredits the U.S. stock market as a fraud ridden environment. This can't be in the interest of the U.S.