Subject: File No. SR-NASD-2007-023 Don't kid yourselves, NASD Intimidates its members who oppose By Law Changes

April 16, 2007

Standard practice to intimidate and audit Member firms who oppose NASD By Law Changes, no wonder no one comments on these changes.

NASD Execs desparate to keep their high payin jobs they will say or do anyone who gets in their way. NASD job is to regulate brokerage firms and protect the public, yet same firms who caused the wonderous OATS system more or less control the regulators, same firms involved with Long Term Capital, Mutual Funds, same did (or did not do) due dilligence for fund raising for such deals such as Enron, Worldcomm, Adelphia, on and on.

Now these same Enron money funding firms who the NASD/NYSE regulators failed to stop, allowed to buy them off with $, now are payin themselves big bonuses, and helpin runnin our gubmint agencies, guess dats da way its always been but da rest of the world markets of financing is catchin on to these practices and are raising capital in Hong Kong and London and other places. Why deal with these nitwit rules/regs/organizations....

This consolidation went unmentioned most of 2006 thru NASD sponsored functions near the holiday time and then NASD puts full court press on BD's to approve this during the holiday time.

NASD seems to want transparency, there is nothing transparent about this deal, members not shown any financials of these regulators, how much money do these people squander? I'm not sure, but a lot, to much . How much cash is in the bank? What is going to be done with the money? How are the cost savings achieved?

Has the IRS given a legal opinion on the $35k prior to this no, this has been hastily pushed through, with a clear disregard for the membership but a clear regard for the top execs at the NASD & NYSE, Ketchum was with NASD, incestuous. Biz as usual...

So this merger shouldn't go through as is, merge the two entities, cut the fat at the top of both orgs, let the NASSA & SEC administer, put these folks out to pasture, a bunch of regs has been passed, banks who years ago forbidden for good reason from being in the security biz now gaining control, as well as the big 30 BD's, the remaining 5000+ over regulated

Gotta go,

I.P. Daily