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To: Les H who wrote (140322)12/24/2001 4:32:13 PM
From: sun-tzu  Respond to of 436258
 
all professional trading firms were aware of the SEC's watchful eye regarding unmarked short sales. no doubt GSachs management cautioned their employees about these transactions. the transgressions are almost without a doubt the result of individuals breaking the rules, rather than a coordinated effort directed by management.

with that in mind, the punishment seems fair to me.