Subject: File No. S7-19-07
From: James Allen

July 18, 2008

This is ridiculous. Sure, protect the primary dealers and GSEs, but leave everyone else to twist in the wind. Furthermore, those that you "protect" are the same market makers that do most of the naked shorting to begin with. I would certainly appreciate knowing why Goldman Sachs needs SEC protection from naked short selling more than, say, Wachovia.