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To: LPS5 who wrote (285)	7/30/2000 3:34:59 PM
From: Janice Shell	Respond to of 1426

I believe that a large part of the misunderstanding, angst, and general origin of conspiracy theories arise out of the erroneous presumption that what market makers/dealers do is a service, and not in fact what it is: a business. I agree. But just for laughs, did you know that ALL futures exchanges (at least in the U.S.) are technically not-for-profit organizations? I'm not making this up.

To: LPS5 who wrote (285)	7/31/2000 4:06:48 AM
From: X Y Zebra	Read Replies (1) \| Respond to of 1426

And to anyone who would complain about the dealers' ability to short issues nakedly, well, that's how it goes. It's just this simple: if you want the dealer to be on the other side of your trade and put his firms' capital at risk, you can't also tie his/her hands. Incidentally, these same people will complain - at times, in the same breath! - about wide spreads and volatile stocks ;) I doubt the chorus of conspiracy central would ever allow a rational thought to enter their mind, as Janice points out: All they are interested in is in their one home run without the effort to educate and/or risk management. "Just because" is their justification, they DEMAND they should make a killing, nothing else. general origin of conspiracy theories arise out of the erroneous presumption that what market makers/dealers do is a service, and not in fact what it is: a business. I attribute much of the message board banter to that sad, and common, misconception. In their eyes, the conspiracy theorist return of 1,000% or more is all it counts, anything else short of that... It is not their fault. Thanks for your response.

To: LPS5 who wrote (285)	8/1/2000 10:14:08 PM
From: Sam Scrutchins	Read Replies (1) \| Respond to of 1426

>>>> This, also: if the regulatory bodies think that making dealers reveal their short positions will lead to a better market structure, they'll make it so. If such is the case, I can't imagine it being released any more regularly than existing short sale reports are, which is month-to-month. <<<< I posit that all short positions of market makers and specialists should be reported daily after the bell. In so doing, the market will become much more efficient, IMHO. Sam