From: Dean Kothmann []
Sent: December 28, 2004
Subject: File No. S7-23-03

Naked shorting is an unfair, unethical, and soon to be illegal trading practice. How can one sell something that not only one does not own, but one never has to deliver and in any quantity desired. The results are a market that can not be trusted; A market that is set for manipulation; A market that will grow to failure.

Rules of a fine at any level will never be adequate. The action of naked short selling is stealing. A jail term has been established for cheating on business accounting. The violation of naked shorting as well as the use of off shore accounts should carry a jail term.

Dean Kothmann