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To: Wiselight who wrote (31)	9/27/1999 3:50:00 PM
From: nick nelson	Respond to of 104

Phil Gramm on Bloomberg It would appear that Gramm is more an impediment to "free and equitable" markets than Mr. Levitt. Switch-hitter Gramm is OPPOSED to independent oversight of the NYSE - he wants "business-as-usual" - self-regulation. The fundamental manipulation of the markets and the exploitation of individual investors is originating and being perpetuated in Republican Phil Gramm's Senate Banking Committee. <<Phil Gramm first won election to the House of Representatives as a Democrat, but when the Democratic leadership stripped him of his House Budget Committee seat in retaliation for co-authoring the Reagan economic program, he became the only member of Congress in the twentieth century to resign from Congress and to seek re-election as a member of another political party. He won re-election in a special election held on Lincoln's Birthday and became the first Republican elected in the 100-year history of his district.>> What a joke!

To: Wiselight who wrote (31)	9/27/1999 10:38:00 PM
From: nick nelson	Read Replies (1) \| Respond to 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?