Subject: File No. S7-20-08
From: Kevin Dalton

July 24, 2008

Naked shorting without delivering the shares is theft and it is clear that it is deliberate.

All companies in the exchanges should be protected against this practice, all trades should be settled in 3 days, and all short positions should be public if they reach the same threshold as the longs are currently required to reveal.

If you can't do the above, you cannot expect the people who will be ex-investors to participate further in this scam called the stock market.

Best to you all.