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To: LLCF who wrote (71807)	2/26/2001 1:28:21 PM
From: Andrew G.	Read Replies (1) \| Respond to of 436258

LLCF: We are making each other chuckle here, no doubt. Before I get off SI this afternoon, a few comments. "far easier ways to police program trading," Policing and program trading don't belong in the same sentence. The mechanism of programmed trading is completely unregulated as far as I know. Most of the systems are proprietary and carefully kept secrets. That goes for all forms of trading and exchanges. Remember an article/interview with Bloomberg years ago. When reporter asked how it (their trading system) worked, if I recall correctly, he replied facetiously(?), "If I told you, I'd have to kill you". 'wonder if that has changed any? "Individuals account for little of the trading activity. Actually, if true, it would bolster the case against your proposals IMO." LLCF: You do understand my point don't you ? Namely that Institutions/Houses control the lions share of the volume and consequently the value of corporate equities and by which the publics assets are at their mercy. I don't think this is a good system and I gather there is plenty of similar sentiment. "In fact, today annual meetings are more egalitarian than ever." But for what end, if the float dictates the price ? My point is that as long as there is a public float, the stock is subject to rampant manipulation. TA disappears when there's no exchanges. Suddenly, a company and an economy MUST function based on fundamentals unless there are other incipient forms of manipulation. But we need to take out these problems as they present themselves. This is a difficult subject to discuss in broad generalities because the current system is inherently complicated by many factors. However, the gist of what I'm saying is that we don't need exchanges to have a thriving and functioning economy. It is the desire to gamble and the power to manipulate markets by the powers that be, that allow the system to thrive and subsist. Only a public outcry and pressure to reform what change this system. Regarding, your reference to "outlandish advertising by corporations for alcohol, junk food, etc". People can vote with their dollars. Social pressure, and weakness of human nature are vehicles by which effective marketing can capitalize. This is NOT the case with our financial markets which would require LEGAL changes in the way they are conducted and what is permitted. Both would require a different attitude from the public. One that may be similar to the often quoted Network movie exclamation :"I'm mad as hell and I'm not going to take it anymore"