Subject: File No. S7-20-08
From: Paul Guajardo

July 19, 2008

To my knowledge, shortselling is illegal in Europe. If the European markets can do without shortselling, so can we.

We need to permanently ban all shortselling of any kind, forever. If people want to profit from the decline in the value of a stock, but a put option like they do in Europe.

Market Makers have provided ENOUGH liquidity. Shortsellers now and always have diabolically caused fear, uncertainty and doubt along with an erosion of confidence in investing in stocks at all. If they had their way, all stocks of all companies would be worth zero.