From: Martha G. []
Sent: December 24, 2004
Subject: File No. S7-23-03

I'm not a stock expert, but I do know this. Naked short selling is already illegal, so what's wrong with this whole picture? If the US government begins to implement stiff fines on naked short sellers, just imagine all the revenue it will bring in. I can see that deficit shrinking already. The same regulations should also apply to Canadian brokerage houses used by naked short sellers from the US. Hit them where it hurts and maybe they'll think twice about continuing this illegal activity.

Martha G.
Oshawa, Ontario, Canada