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Non-Tech : Traditional brokers/SEC conspiracy

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To: Wiselight who wrote (31)	9/27/1999 10:38:00 PM
From: nick nelson	Read Replies (1) of 104

Old news but perhaps helps define the "obstructionists" businessweek.com Mr. Levitt seems to be quite committed and dedicated to reforming markets to better protect the "public interest" and individual investors - something that apparently switch-hitter Phil Gramm has been doing the utmost to PREVENT and to maintain the "Status Quo!" All the decimalization and demutalization of markets in the world is NOT going to have the efficacy for individual investors that mandating a National limit order book with time-order priority, and with MANDATORY fulfillment of the existing NBBO, would have if REQUIRED right now! What good are all the ECN's in the world going to be if the NYSE is permitted to continue their monopoly on Listed stocks? What good is an ECN if every market maker on the Nasdaq can crawl out of his closet, displaying NOTHING other than cowardness, print to tape at the NBBO, and than sneak back into the shadows waiting for the next SUCKER retail investor to set the NBBO price for the closet-fagot to pick-off! a corellation? demutualization.org Stock in the NYSE will be sold first to large brokerage houses, than to the wealth institutions, and only a very small MINORITY amount will ever trickle-down to the retail investor... this is DEMUTALIZATION?

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