From: Volker Piasta (web.de) [piasta@web.de]
Sent: Sunday, September 28, 2003 7:14 PM
To: rule-comments@sec.gov
Subject: naked shorting (s7-24-99)

Limiting the delivery of naked short to 3 days is too much a compromise. 
I don't see any reason why it should take so long. You cannot sell something 
that you don't own. Where it is necessary for tecnical reasons (market makers), 
the coverage should be limited to the same day. Market makers are anyway able 
to manipulate the price with many tricks (naked short, not showing true bid/ask 
sizes...) to the damage of other market participants. A real free and equal 
market must give the same information to all. This is not the case. Privileges 
must be reduced to the absolute minimum.

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