Subject: File No. S7-19-07
From: william a johnson
Affiliation: retired

July 10, 2008

Shame on you securities and exchange commission for letting the illegal failures to deliver go on so long. Our reputation overseas has been destroyed. No wonder that the markets are down as our banks are shown to be on the brink of disaster. All of this and you are still looking for more and more comments from the public. Come on, it is time to correct these problems, not talk about them. And, not by issuing more money to save the banks, which will result in enormous inflation for the average person trying to raise a family. Laws are already in place to take care of illegal statements in real estate mortgage deals. So many problems and so little enforcement. Options backdating, taking away the uptick rule. Round up some of the perps. That would be a good start.