From: Steve Patterson [info_society@yahoo.com]
Sent: Wednesday, August 22, 2001 10:54 AM
To: rule-comments@sec.gov
Subject: Irration exuberance, irrational selling

I think there's way too much margin in use. There's way too much
liquidity and volatility. First we have irrational exuberance, now we
have irrational selling. Someone needs to control the use of margin,
control the use of short selling, and control the holding period for
stock purchases. Of course that some is you, Mr. Pitt.

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