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To: LLCF who wrote (71760)	2/26/2001 12:09:20 PM
From: Andrew G.	Read Replies (2) \| Respond to of 436258

"This is a one giant step backwards IMO. You would be going back to allow equity holdings for rich and powerful only." "If these were all private corporations run in back rooms by men with cigars we'd be going back 100 years. " Not if only the rich and powerful are shareholders. That's my point. Privately held shares can hold more wait than public float which is subject to speculation and programmed trading. Today, few attend annual meetings, but they could look like town meetings of interested investors. This might happen if they knew that 'investing' vs 'trading' was of paramount significance to the shareholders and the company. "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. " You and I agree on that100% " It would be nice if there were an exchange open to all that I COULD list my house on if I wanted. " Interesting. I wonder if you would feel the same if some arbitrager pressured you to sell your house and bought the houses on your street in a leveraged buyout and forced anyone out who didn't want to sell ? ie I'm trying to point out that the RE market/mortgages are structured differently than the stock exchanges and it is this difference that makes people more comfortable with the home ownership vs stock ownership. "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." What % of equity markets is controlled by Institutions ? What % of market volume is by individuals/day traders vs Institutions/Houses ? The 'confidence' you refer to has been relegated to the volume-makers. Individuals account for little of the trading activity. The assumption that Mutual Funds, Money managers and Investment bankers know what their doing with the publics cash is false. Would you bet on what the weather will be like a month from now ? Will it be rain, snow or sunshine ? Financial planners and Funds are clueless and I think that most intelligent people know that. LLCF: my point here is that it is not 'confidence' that the public confers but 'permission'. They permit their assets to be used for speculative purposes, speciously referred to as 'investing'. I must leave now, but if you or anyone respond to this, I'll reply later. There is, in my mind, no matter more relevant to the freedom of speech as it relates to these message boards as our freedom to question the mechanism and means by which we conduct our financial affairs. It is fraught with error, trickery and deceit. We need change, not complaints. The time is long overdue to start articulating how and what changes can be made to improve our system and create a more trustworthy means by which we invest in corporate America.