April 12, 2007
RE: NASD/NYSE Merger.
To Whom it may concern: I believe the proposed merger is not in the best interest of our Industry, and ask the SEC to Stop the merger and give SRO changes the honest scrutiny it deserves.
A major question I have is,"Why should every piece of letterhead, signage, and advertising be changed just to accomodate and help 180 of the NASD's 5,100 member firms?" What about the other 4,900 plus firms.
I fail to see how this merger is going to be of any real benefit the vast majority of Firms. Who will actually own the new entity and have control over the $1.6-billion of cash the NASD has in the bank? That question has "yet to be determined". It appears to be all about money--big money for some and to heck with the rest. GREED?? YOU BET. Please leave well enough alone.