Subject: File No. S7-19-07
From: Michael H. Lambert, Esquire
Affiliation: Self employed trial lawyer

August 13, 2008

I am in favor of total enforcement of naked shorting rules. If they cannot be enforced as evidenced by current SHO list abuses, then eliminate them. They allow MM to abuse the stock of small companies, they allow foreign country abuses of stock as the current rules are not enforced. If enforcement neglect is the product of incabilities to regulate as enacted, then your solution is self evident and the response(elimination) must be immediate. Equalize the playing field, enforce the existing rules by action, not more words-- the current rule requirements already exist, but go unenforced to the detriment of companies and their their lay investors.