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To: Catfish who wrote (55000)	9/24/2001 10:54:45 PM
From: Rande Is	of 57584

LaFalce also asked Pitt to analyze current market conditions to determine whether short selling or other similar activities have contributed to recent market declines. I don't think that is the question the politician should be asking. Of course short-selling "contributes" to declines. That goes without saying. No "analyzing current market conditions" necessary. The question that the well-meaning politician should be asking is, "what is the percentage of foreign short-selling in the past few weeks, compared to say 1 month ago?" Seeing that this is a matter of national security, one would think that we would be leary of allowing foreign banks to manipulate our markets at a time of extreme vulnerability. . . and would wish to know if that is what they may indeed be doing. Isn't that obvious? Yet the "ranking member of the House Financial Services Committee" in Washington is clueless. Why does this not surprise me? Another question is, "what amount of naked shorting is going on in the markets?" My guess is the answer will be astounding. A temporary halt to short selling is not the answer either, IMO. A permanent halt to illegal short-selling is what the politician should be seeking. Rande Is

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