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Technology Stocks : Globalstar Memorial Day Massacre -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (300)	6/18/2000 3:30:00 AM
From: Jon Koplik	Respond to of 543

Copy of my e-mail to S.E.C. re : GSTRF / Ed Snyder / Chase H & Q ************************************ During an interview on 6/16/00 with Radio Wall Street, radiowallstreet.com or : radiowallstreet.com while discussing Qualcomm (and Globalstar) Mr. Ed Snyder of Chase H & Q made the following comments : (around 4:35 into the interview) : "as Globalstar fails ..." (around 7:45 into the interview) : "when it [Globalstar] starts to fail ..." I am wondering if any securities laws exist to prohibit a Wall Street professional from making statements such as these regarding the failure of a publicly traded company, especially when there is no sign of bankruptcy. (As a stockbroker in Houston TX in 1986, I was warned by my branch manager (when advising some of my clients to sell short various Texas-based bank stocks) that there is a securities (or banking) law "on the books" making it illegal to say things such as "I believe XYZ Bank will fail." I respected and obeyed the law. I assume this law is something that resulted as part of the reforms from the 1930s). Also -- regarding an employee of Chase H & Q (a subsidiary of Chase Manhattan) publicly making statements such as "as Globalstar fails ..." : 1. Chase Manhattan is a large creditor of one of Globalstar's main (now bankrupt) competitors : Iridium. 2 Chase Manhattan is currently involved in negotiations with Globalstar regarding renewal of an already existing $250 million credit line to Globalstar. I hereby request that the Enforcement Division of the S.E.C. look into : A. Whether Ed Snyder of Chase H & Q can be ordered to "cease and desist" from making statements about the failure of Globalstar, especially given the fact that Ed Snyder is an employee of a bank that is involved with Globalstar's (and Globalstar's competitors') funding. B. Whether clients (or employees) of Chase H & Q bought put options on Globalstar, or took any unusual action in Globalstar related securities in advance of Ed Snyder's comments on Globalstar that came out on 6/16/00. Jon Koplik.