Subject: File No. SR-NASD-2007-021

August 7, 2007

Nancy M. Morris, Secretary
U.S. Securities and Exchange Commission
100 F Street NE
Washington, D.C. 20549-9303

Dear Ms. Morris:

Imagine you or someone close to you was injured by a member of a large and powerful gang. You seek justice for your injuries, but you find that the tribunal who will pass judgment on those that injured you is comprised not of neutral individuals, with no bias or perception of bias, but instead comprised of gang members and those beholding to the gang>

That is the system investors find themselves in today. When investors file a claim under mandatory arbitration in far too many cases the finders of fact are industry members and those who in some way owe a debt of allegiance to the industry. This must stop.

While the proposed amendment is better than the current system, it is still akin to the notion that you can be a little bit pregnant. As a public arbitrator you cannot be neutral, or give the appearance of neutrality, if you or your firm receive any compensation from the industry you are being asked to possibly rule against. Remove the possibility of bias, and you remove the bias.

The following quote is taken directly from the SECís website, ďThe mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.Ē

Donít just say it, do it. Protect the investor.

Yours truly,

Richard A. Lewins, Esq.
Special Counsel
Burg Simpson Eldredge Hersh & Jardine P.C.