From: Allen Fisk [alfisk@sprintmail.com]
Sent: Monday, January 05, 2004 12:46 PM
To: rule-comments@sec.gov
Subject: Reg SHO - File No. S7-23-03

Dear SEC,

As long as rules fail to identify individuals within financial companies and
their superiors and prosecute them as the criminals they are, naked shorting
and similar schemes will continue.  These activities remind me of some of
the tactics employed in the late 1960s used by the raiders to defraud
shareholders in taken over companies by issuing stock warrants then making
sure they became worthless.  It is hard to believe that a stock buy-in is
not absolutely required of those dealers shorting stocks or allowing their
customers to short them.  A fine allows them to simply do more of it to
cover the fine.  Fines are relative, Jail and expulsion from the business
are absolute.

Allen Fisk