Subject: File No. S7-19-07
From: Andre L. Roy
Affiliation: individual share holder

September 11, 2008

The Rules for shorting shares should be to the advantage of the individual share holder of the securities. They are taking the risk and the SEC should be there to protect them, because they are the ones that make the Markit work.

Rule 1 Shorted shares should pay interest to the holder on the value at the time of the short, the same way share holders pay for margin.

Rule 2 Hedge Funds must cover all postitions by Dec 31 of the same year of the short or the Q4 of the companies annual report. All shorts should be disclosed by name.

The SEC should do more to protect the individual investers.
between the Hedge Funds and overseas Naked Shorters.

Also I like to know if Goldman Saks was shorting FNM while at the same time doing work for the Dept of Treasury.