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To: H James Morris who wrote (9673)7/9/1998 10:52:00 AM
From: umbro  Respond to of 164684
 
off-topic:
This fraud has been in the news for a while now. It started
several years ago, after some university profs. did a study that
showed the MM's were working together to keep retail customers
from getting best prices. I've gotten a handful of class-action
booklets that seem to list just about every NASDAQ stock, and
various timeframes, and saying that I'm part of the suit, unless
I say otherwise. I didn't keep the booklets, or read the details.
I figure my compensation will be good for a cup of coffee at
Starbuck's when it comes through.

The industry's claim is that this is "just the way things were done"
(and I think that's true), and "it has been fixed now" (ie, it
isn't as obvious. :)). Actually, with the new NASDAQ system that
combines customer quotes and MM quotes into one system, that might
become true, but I'm not sure if that's employed on every stock
(and probably not at all on BB stocks).