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Non-Tech : Bid /Ask Spreads - Market Manipulation
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To: Earl Gipson who wrote (13)8/19/1996 10:45:00 AM
From: Robert Everett   of 308
 
Earl,

I don't know why I was dropped, butI lost my entire message. Here is it's essence:

You are doing great! Knowledge is the beginning of wisdom, so keep it up.
I have always felt the NASD was worse than a sham. They are an absolute evil. They give the impression of investor oversight, but , in fact, look out for the interests of the National Assoc. of Securities **Dealers** not the brokers or their customers. The Congress tried to reduce the power of the SEC in this most session, but were detered by much pleading and nashing of teeth by the firms!! Why? Because they hide behind the NASD. We would be better off with a completely free market 'a la the 1920's. At least, then we would all know it is every man for himself. Caveat Emptor!

Don't paint the NYSE with the same brush. Although not blameless, the exchange's own rules tend to be self governing and do protect investors much better.

Next time we can talk about the OTC practice of "wharehousing" stock and then putting it out at a "net price" to its customers. What a deal! I have two words for that: " Anal Walletdetchtomy".

Also, some time we will ask the musical question: " Where does love go when it's gone," or, " Where are the dealers when my stock goes down?

C'iao

Bob
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