From: Bruce M. Barrett [bruce_barrett@fastmail.fm]
Sent: Thursday, November 06, 2003 6:26 AM
To: rule-comments@sec.gov
Cc: chairmanoffice@sec.gov; nazaretha@sec.gov; cutlers@sec.gov
Subject: STOP Naked Shorting-Non Settlement of Trades: S7-23-03

S7-23-03
To Whom It May Concern....That IS US ALL:

Iam taking the time to write this, as Iam sick and tired of being robbed
by Market Makers and others, that are allowed to naked short stocks on
the Bulletin Board, Pink and Gray sheets and never settle trades. It is
legalized bank robbery against every citizen that puts money into the
stock market.  When people rise up, with someone of the character of
Eliot Spitzer, something gets done. He has done that on more than one
occassion and the SEC has responded. But, he has not done it on Naked
Shorting nor on Non Settlement of Trades, so we go thru the four year
slow process that now has come to comments to the sec. Why isn't this
stopped immediately? Why are companies that are the back bone of America,
allowed to be naked shorted out of existence? Why does the Sec seem to
cater to the big boys, and slap their hands, while at the same time turn
a blind eye to the small companies that are being abused, along with
their shareholders on a daily basis? It is time to stop the abuse.  If
naked shorting is allowed to go on, it needs a check and balance sytem in
place and harsh penalties for violating the rules and regulations. None
of this hand slapping and minor fines. Put them out of business if they
abuse or violate the rules. PERIOD.  The big Market Makers laff at the
sec and their minor penalities when cuaght.  IF an indiviudal stole that
much money from shareholders they would be in jail forever. The law is
not being applied nor enforced. It is time that change takes place and
that payments in arrears are made.  My company Pinnacle Business
Management, was stopped trading by the SEC in May 02, for a minor press
release violation. It has yet to find resoltuion and no one will do
business with a company that has the black mark of the sec on it.  They ,
the sec, in affect have put it out of buinsess.  The nakes shorters went
hog wild after the sec put the trading stop on pcbm.  They continue to
naked short it into the ground and no one seems to care. No Eliot Spitzer
to the rescue here, and the sec is in affect aiding aind abetting the
rape and pillage of my company. That is the perception.  We are the share
hodlers, soldiers, marines, sailors, airmen, in Iraq and Afghanistan that
are defending our way of life, while we are being robbed with the aid of
an agency of our government. 


I appeal to the Marine, Mr. Donaldson, to remedy this situation NOW,
don't wait for this comment to be published or more stalling. Do what is
right.  Do it now.  Semper Fi.  Take the lead away from Eliot Spitzer and
do the right thing and put a stop to this. Make good the many companies
that want to get out of the DTC due to the naked shorting and lack of
settlements.  Make them pay up. It is time to do the right thing and it
is way overdue.

Respectfully
//s//
Bruce Barrett 787-775-5326
San Juan, Puerto Rico