From: smfehrmann@firstenergycorp.com
Sent: Tuesday, November 04, 2003 1:36 AM
To: rule-comments@sec.gov
Subject: (s7-23-03)

I believe that naked shorting should not be allowed without the approval of
the shareholder of the shares to be borrowed. Shares that have a sell order
on them should not be allowed to be shorted. All short sales should be
completed no more than two days from the execution of the sale. Any market
maker or clearing house that violates the rules should be penalized up to
and including having their license to operate revoked, fines, and prison
time if the act was deliberate. A clearing house should be responsible for
the acts of their employees.



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