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To: Rande Is who wrote (54822)	9/4/2001 12:35:42 PM
From: Kanetsu	Read Replies (2) of 57584

Thank you for addressing my points specifically, that's all I wanted. Hate to quibble, (ok so I love to quibble <g>)but I never meant that discussing the daytrading margin rule was irrelevant, but rather that it was not a result of Naz "Big Boy" manipulation. I feel your reasoning on that issue is flawed. And though they may have been discussing it in '98, the reason it actually got done was a result of all the people who got burned and cried about it lately. I don't think some minor revisions to short selling will have the catastrophic effect you predict. Notice all the current restrictions sure didn't help most naz stocks from losing 80-90% of their value. Reading the SEC notes you posted, they specifically said they could reinstate certain rules in times of volatile market conditions, i.e. if the market or specific stock was down more than a certain percentage. And it is not an excuse that the rule needs to be revised to accommodate sophisticated financial products. I work with these products and the existing rules are cumbersome. Remember that excessive regulation costs money too. Ultimately a stock is worth what someone will pay for it, plain and simple. The short sale issue is a red herring.

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