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To: Jeffrey Beckman who wrote (21252)	5/3/1998 9:53:00 PM
From: John Carpenter	Respond to of 95453

Conversely, people hate to buy at the ask which offsets the effect of people hating to sell at the bid. The bid/ask spread on CXIPY is ridiculous and it's not justified by CXIPY's risk. This issue held up the best during our sector correction. Although I normally feel that regulatory remedies cause more problems than the problems they were designed to rectify, the CXIPY bid/ask spread is unjustified. The market makers should be grilled on this one.