Subject: File No. S7-20-08
From: Davd A Sapio
Affiliation: Former CEO

July 28, 2008


Please investigate the naked short selling on American Capital Ltd. (ACAS). I have lost substantial funds for my retirement by this illegal practice. American citizens are being fleeced by powerful rumor mongers who own short naked short positions on solid BDC companies that pay a good dividend.

Please Help

Dave Sapio