From: Bill Katakis [bkatakis@adelphia.net]
Sent: Thursday, October 23, 2003 2:02 PM
To: rule-comments@sec.gov
Subject: naked shorts and shorting public comment

I respectfully request that the practice of shorting any stock be strictly 
prohibited.  At a time when there is zero trust in the market and the time 
to rectify things is at hand if we are to have a viable economy, I request 
that you:
 
1.  Discontinue the practice of naked shorting and make it illegal with 
strict prison sentences.
 
2. Stop all shorting of stock. Here is why.  Shorting a stock has the same 
effect as if someone took title to your home, without your permission, and 
took a mortgage against it, lowering its value, while you sit trusting and 
naive, expecting your home to appreciate in value.  Shorting is so dishonest 
that more words fail me.  It is an abomination to average investor, and a 
stalwart leftover from the many many years where ripping off stockholders 
was the norm.  Please restore trust to the market.  This can only be done if 
shorting is made illegal and impossible.  Puts should be equally illegal and 
impossible.  To bet that the price of a security will go up you should buy 
the stock or buy a call , to bet that a stock will go down you simply sell 
it or don't buy it.  All else is theft by those who owe us a fiduciary trust 
upon which we depend for our retirements.  
 
Thank You,
 
Bill Katakis
321 Venice  Dr.
Northwood, Ohio 43619