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Non-Tech : Bid /Ask Spreads - Market Manipulation

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To: Terry D who wrote (294)	4/10/1997 11:31:00 AM
From: ----------	of 308

Terry: I totally concur that no side of this, OR ANY, business is totally clean, (ever have a customer fail after price went against him?<g>). You have hit on many good topics. I think payment for order flow is a very very bad practice. By its' very nature, it puts the customers agent (broker) in a possible conflict of interest situation. Fund managers? ::::::rage:::. They want to dictate everything! I do have one question perhaps someone here can answer. WHy is it a foreign investor can easily open an account in the U.S., but I have been unable to open a brokerage account in Hong Kong? I have been told it is "U.S. law", but don't know what law prohibits this, or if it does. As a result, I execute most of my personal Hong Kong trades through Nash Weiss. I must say they have been very reasonable on their prices, and I have no complaints against Nash Weiss. But, I am not buying the stock at the price it traded on the HK exchange. There is always a little "juice" in there, which is understandable. Any experts out there that might explain why us Americans do not have the same economic freedom that many foreigners do? Doug

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