Subject: File No. S7-19-07
From: nan v krish

July 12, 2008

SEC I am appalled that you wasted almost one full year because some commenters urged commission to obtain empirical data that demonstrated relationship between fails to deliver and market maker exemption. It became important to you to satisfy these commenter queries(and you took off on a wild goose chase)and waste time. WHAT ABOUT THE OTHER 90% COMMENTERS WHO WERE SCREAMING TO ELIMINATE THE MARKET MAKER EXEMPTION? Are they not human beings? Isn't their pain and anguish real?