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To: Andrew G. who wrote (71735)	2/26/2001 11:39:52 AM
From: LLCF	Read Replies (1) \| Respond to of 436258

<. Remember that if a company is corrupt it will eventually be sued by it's shareholders regardless of whether it is required to make public disclosures of it's earnings. Annual and quarterly meetings are still held by privately owned companies. If you are a shareholder, you have rights regardless of whether a company's stock trades on an exchange or not.> This is a one giant step backwards IMO. You would be going back to allow equity holdings for rich and powerful only. <They get rid of the casino approach to valuing American business. Businesses will return to focusing on fundamentals and not hyping a stock to the public and the public can invest in corporate America knowing that market gyrations are not going to blow their life savings.> Agree with the problem, and agree about the FED. However, look at what your saying. HYPE?? What about the adverts touting junk food, cigarettes, dairy & meat lobbies producing drug laden products??? My point is that why would you pick only on the financial communtity for a pervasive problem in our society? If anything 'shareholder groups' are another power center to fight many ills in society. If these were all private corperations run in back rooms by men with cigars we'd be going back 100 years. I think your dead wrong here... IMO the pervasive problems you site have as much to do with societies current morals [lack of?] and/or priorities in general than it does with the financial system, which I concur has it's problems. <Let me ask you this? How would you like your house, and every other house on your block to be listed on an exchange that moves like our stock exchanges ?> It would be nice if there were an exchange open to all that I COULD list my house on if I wanted. <ie the value of your house (although it does fluctuate in value daily) is subject to market speculation that could rise or fall by large % points and sharply affect your net worth and ability to borrow on a DAILY BASIS . I think many people would be panic stricken by that thought, but yet our homes ARE subject to market fluctuations. > Actually, the way mortages are structured the fluctuation in the value of my home doesn't affect me unless I want to sell it, or buy another. Homes have always been subject to market fluctuations... I don't get your point. < The way exchanges are made visible and tradable to the public and the liquidity of the market is what makes them so vulnerable to ramped speculation, automated trading by large players, and a total lack of confidence in the stability of the system.> If there were no confidence in the system you wouldn't see the speculation we see today... IMO the problem is that the masses have now put WAY TOO MUCH confidence in a system they know little about. DAK

To: Andrew G. who wrote (71735)	2/26/2001 11:52:23 AM
From: Don Lloyd	Read Replies (1) \| Respond to of 436258

Andrew - Not a plan but my 'heretical' idea to do away with the stock exchanges altogether (and the FED too). I believe that there should be no public float for any stock. i.e., I believe we should do away with stock exchanges. If people want to invest, they can do so through bonds or privately held stock. Remember that if a company is corrupt it will eventually be sued by it's shareholders regardless of whether it is required to make public disclosures of it's earnings. Annual and quarterly meetings are still held by privately owned companies. If you are a shareholder, you have rights regardless of whether a company's stock trades on an exchange or not.... Before you eliminate stock exchanges, perhaps you should step back and make sure you understand what purpose(s) they serve, and why they came into being in the first place. The plans of even the best socialist planners almost always have unintended consequences that far outweigh the intended results. Regards, Don