May 7, 2008
To The SEC:
Sirs, please note my opinion on the proposed changes to SEC regulations regarding "naked shorting":
1)Fines must be increased significantly to act as a deterrent to FTD's
2)Broker and Dealer licenses should be suspended or revoked based on patterns of participation in this scam 3)Restore the uptick rule 4)Specify what constitutes "intent". Intent is very difficult to prove in the field as well as in court.
It is my opinion that this problem threatens the very fabric of our system of securities trading in the US and undermines investor confidence around the world. There is much more at stake here than a few scattered shareholders in a small number of companies' securities. Criminals must be prosecuted or the markets will eventually implode and collapse upon themselves. Please do not delay
Thank You.