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To: Victor Lazlo who wrote (658)	10/23/1999 7:27:00 PM
From: Smart Investor	Read Replies (2) \| Respond to of 2249

Wrong! Stock market is definitely not auction. Do not forget that many of the big boys and scums are playing with other people's money. Also, if the market gets out of control, the tax payer will be the ones to bail it out in the end. Just like the Saving and Loan fiasco. However, tax payers will not be called upon to bail out the auction house.

To: Victor Lazlo who wrote (658)	10/23/1999 8:55:00 PM
From: Walkingshadow	Read Replies (2) \| Respond to of 2249

WARNING: WAY OT!! Victor-- <<< Re further regulation, the stock markets are basically auctions.>>> True enough. But even in auctions there is order and regulation designed to protect both buyer and seller. Imminently practical for all concerned, given the human tendency to take advantage when given half the chance. <<<Would you call for regulation of how high someone can bid at auction for a Monet, or a Picasso?>>> Perhaps I'm missing something, but I don't see the validity of the analogy between an art auction and the equity marketplace. The stakes are radically different. In an art auction, you have wealthy people attempting to buy things they really don't need, though they may want. The potential repercussions of the activity there will have little or no effect on the global economies and the lot of the worlds peoples. In the stock market, on the other hand, the magnitude of capitalization is huge, the number of participants large, and therefore what occurs in these markets can and will have a significant downstream impact on the world's economies and the lives of people. JMHO, but I agree with what I see to be the "prime directive" of the Constitution: "to provide for the common welfare." If that means more regulation, so be it. The basic problem here is familiar----that unopposed power will invariably have undesirable, self-destructive consequences to society, and even to those wielding that power. Checks and balances are fundamentally brilliant, in my book. Again, JMHO; your results may vary. Cheers, Walkingshadow

To: Victor Lazlo who wrote (658)	10/24/1999 11:14:00 AM
From: Ricky Rydell	Read Replies (1) \| Respond to of 2249

The stock market is a rigged auction where shilling is legal and the big boys hiding in the back pull the rug out from under you. Sure you cannot regulate how high someone can bid for stock, but they regulate how low you can bid. If there is a run on a stock or in the market they reserve the right to halt trading to save their @ss. Just like an auction. Don't you wish you had such a deal? Day traders will learn quickly that the only ones that are sure to make money are insiders and institutions. It took me awhile to figure this out back in 1995, but you'll catch on. >>>>> Message #658 from Victor Lazlo at Oct 23 1999 1:39PM Re further regulation, the stock markets are basically auctions. Would you call for regulation of how high someone can bid at auction for a Monet, or a Picasso?