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Non-Tech : Bid /Ask Spreads - Market Manipulation
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To: ---------- who wrote (291)4/7/1997 11:04:00 PM
From: hcm1943   of 308
 
Here is where everybody is going to get screwed royaly

all in the name of fairness by those wonderful minions

in Washington, Your friends and mine " CONGRESS AND THE

SEC". Later this week a friend of mine who has done a

study on spreads and decimal pricing is going to D.C. to


to tell these idiots in our capital just what they want

to hear. ( I've known this gentleman almost 15yrs and

can speak to his bias). What these fools don't realize

is that when you try to dictate markets (spread, #of

shares a mm must take, whos order takes precedence) and

a myriad of other rules what they take away is the

incentive of the MM to make a market because "they" who

don't know or understand risk have removed the profit

potential from the risk taker.

As and aside: I just came back from having dinner with a


Dr. friend of mine and the discussion went to fee

spliting, I found it ironic that one of the only

professions where fee spliting is not frowned upon or

even illegal and is most prevalent is in legal

profession. Seems to me the lawyers make the laws to

protect lawyers. Shakespere, where are you when we need

you



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