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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?


To: Curtis E. Bemis who wrote (9514)11/22/1999 5:10:00 PM
From: Sly_  Respond to of 13953
 
From the report you posted:

Unger also recommended that regulators study the impact that chat-room discussions have on individual stock prices.

GOOD GRIEF !! Now big brother is going to study us! Screw Unger and screw the report. Maybe they should study the impact as to how BULLSHIT reports like this has on the stock price. Go blo SEC!




To: Curtis E. Bemis who wrote (9514)11/22/1999 5:11:00 PM
From: Curtis E. Bemis  Respond to of 13953
 
NY Atty. Gen. criticizes Web trading
Reuters Story - November 22, 1999 16:30
NEW YORK, Nov 22 (Reuters) - Online investors expect 24-hour service and direct access to the stock market, but they often are at the mercy of brokerage Web site failures and slow order processing, New York's attorney general said on Monday.

State Atty. Gen. Eliot Spitzer, in a 199-page report on the online brokerage industry, made several recommendations, but avoided mentioning fines or penalties.

Spitzer in February began an inquiry into Web brokerages after industry pioneer E*Trade Group Inc's Web site had technical problems for three consecutive days.

Spitzer announced a $500,000 education campaign to be paid by the brokerage industry's trade group, the Securities Industry Association. The campaign, which will include full-page newspaper advertisements, aims to educate consumers on the benefits and pitfalls of online trading.

Spitzer's report, which will be available on the Attorney General's Web site oag.state.ny.us, comes at a time online trading is still growing rapidly. Investors funnel more than 500,000 stock trades through the Internet each day, or one in six trades. The number of online trades is expected to rise to one in four next year, Spitzer said. ****end snip**********

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