From: Jack Fenchel
Sent: May 23, 2006
To: rule-comments@sec.gov
Subject: File No. 4-500


The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.

As more and more first-time investors turn to the markets to help secure their futures, pay for homes, and send children to college, our investor protection mission is more compelling than ever.

As our nation's securities exchanges mature into global for-profit competitors, there is even greater need for sound market regulation.

And the common interest of all Americans in a growing economy that produces jobs, improves our standard of living, and protects the value of our savings means that all of the SEC's actions must be taken with an eye toward promoting the capital formation that is necessary to sustain economic growth.

SEC, Not! protecting investors.

How the SEC, can right the wrong and that is.

Starting July, 1, 2006 All stocks bought from a broker would have a L or a U in back of it on the books.

If an investor bought 100 shares of Microsoft, it would be listed as MSFT 100 L or MSFT 100 U on his books.

The investor would have a choice to lock his 100 shares of MSFT or unlock his shares to short selling.

Jack Fenchel

jlfenchel@zoominternet.net