From: RRUFFF@aol.com
Sent: Friday, November 28, 2003 1:01 PM
To: rule-comments@sec.gov
Subject: File No. S7-23-03 Proposals on Naked Shorting

Dear Sir/Madam:

It would be best to take a global position and eliminate manipulation in the 
markets that occurs when there is naked shorting.  First, much of the naked 
shorting occurs in situations where there is manipulation as a result of toxic 
financing.  Rules need to be promulgated immediately to protect the investing 
public from the death spiral that results when lenders short the stock of 
companies to which they have provided financing with convertible securities.

Naked shorting does occur in many other situations and is often a concerted 
effort that combines groups of shorts and hired "paid bashers" that have taken 
advantage of the ability to manipulate thinly traded stocks by planting false 
claims on message boards.  

Until this type of activity is restricted, it is unlikely that the American 
public will feel protected and able to compete on a level field with rules 
and regulations that are fair to all.

Thank you,

Paul Davis