Subject: File No. S7-24-08
From: Charles L. Peden

September 26, 2008

It is not clear to investors what (if anything) the SEC is doing about companies that are consistently showing up on the threshold securities list.

I would particularly like to know why CALM is continuously on the list. CALM has short positions in over 50% of its issued shares. This would not raise an alarm if those shares were being delivered, but they obviously are not. It continues to show up daily on the threshold securities list. Are investors allowed to sell shares without borrowing or delivering them?

Is Mr. Cox going to continue to allow naked short sellers to take advantage of the loophole in the way market makers provide liquidity?

Where is the enforcement against naked short selling?