From: mjbeem [mjbeem@islc.net]
Sent: Monday, January 14, 2002 6:44 PM
To: rule-comments@sec.gov
Cc: orielly@foxnews.com
Subject: FILE S7-16-00 AND ELIMINATION OF THE INVESTIGATION, ENFORSEMENT DUTIES 
OF NASD FROM THE NASD

DEAR SEC
I COULD NOT BELIEVE MY EYES WHEN I SAW THIS PROPOSAL.  PLEASE MAKE IT LAW.  AND 
CONTINUE TO CHIP AWAY AT THE GOOD OLE BOY SYSTEM THAT EVERY ONE KNOWS IS ALIVE 
AND WELL IN THE CURRENT ACTIONS OF THE BROKER/DEALER NETWORK. 
 
THE ENRON SITUATION IS NOTHING COMPARED TO THE MILLIONS OF VIOLATIONS THAT OCCURS 
EVERYDAY WITH  "BEST EXECUTION" PRACTICE OF BROKER/ DEALER CLUB/MARKET MAKER CLUB.
 
if YOU NEED PROOF OF VIOLATIONS I CAN SUPPLY ALL YOU NEED.  ETRADE AND THEIR MARKET 
MAKERS DO NOT KNOW THE CURRENT RULES EXIST. ALL OF THE CONTACT I HAD WITH E*TRADE 
ON THIS SUBJECT WAS PASSED OFF AS A PROBLEM WITH THE MARKET MAKER, THUS NOTHING I 
COULD DO.
 
APPROXIMATELY. 2000 LIMIT ORDERS SENT TO ETRADE WERE EXECUTED AT THE LIMIT.  THE 
LIMIT ORDER HAS BECOME "THIS IS WHAT THE CUSTOMER WILL PAY ORDER"  I SUBMIT TO YOU, 
99.95% OF ALL ETRADE'S CUSTOMER'S LIMIT ORDERS WERE FILLED AT THE LIMIT PRICE 
SUPPLIED BY THE CUSTOMER. MY "PERFECT EXECUTION PRICE PICKS" SENT VIA LIMIT ORDERS, 
FILLED AT OBVIOUSLY BETTER PRICES THAN THE ONE OR TWO "TEST MARKET ORDERS" I SENT 
MONTHLY. MANY OF THE MARKET ORDER PRICES I OBTAINED WERE ALMOST COMICAL.
 
THIS INFORMATION ALONG WITH OTHER DOCUMENTED VIOLATIONS THAT WERE FAR EASIER TO 
INVESTIGATE WERE SENT TO THE NASDR. THEIR INVESTIGATIONS ALWAYS SIDED WITH THEIR 
EMPLOYER, THE NASD.  
 
HOW MANY MORE YEARS WILL IT TAKE FOR THE SEC TO REALIZE THE "SRO" "concept" AND THE 
CUSTOMER'S NEEDS TAKE PRIORITY OVER THE BROKER/DEALER RULE,  ARE SO OUT DATED, THEY 
ARE A JOKE TO THE NASD. 
 
THE LARGEST "PILE OF MONEY" IN THE UNIVERSE, IS NOT GUARDED, REGULATED, ENFORCED, 
INVESTIGATED AND ARBITRATED BY AN UNBIASED SOURCE. WAKE UP.  THE ENRON ISSUE IS 
SUBJECT TO SEC OVERSIGHT.  THE NASD IS NOT.  THE SEC HAS A FORM LETTER, TO MAIL 
CITIZEN COMPLAINTS ABOUT BROKER/DEALERS.  THE LETTER INSTRUCTS THE COMPLAINING 
CITIZEN TO CONTACT THE BROKER/DEALER TRADE ASSOCIATION (NASD) TO INVESTIGATE THE 
COMPLAINT.  THE INVESTIGATION IS A JOKE, THE APPEAL TO OMNIBUSMAN IS A DOUBLE BARREL 
JOKE. AND I AM TOLD THAT THE APPEAL TO A JUDICIAL SYSTEM IS ONLY ALLOWED TO ARBITRATION 
RUN BY THE NASD, WHO SUPPLIES ATTORNEYS TO DEFEND THEIR MEMBER IN THE HEARING. NO PART 
0F THE ABOVE IS ALLOWED TO TAKE PLACE IN THE SUNSHINE, AND RECORDS OF INVESTIGATIONS 
ARE SEALED, AND NOT AVAILABLE UNDER THE FEDERAL "FREEDOM OF INFORMATION" ACT.
 
SORRY, I AM WRITING TO PEOPLE THAT KNOW THE ABOVE IS ALL TRUE.  IF ANY IS NOT CORRECT 
PLEASE LET ME KNOW?  I HAVE ALL THE DOCUMENTATION YOU NEED.  WHEN THE NASD GOT BACK TO 
BE IT WAS CONCERNING SOME STUPID MINOR ISSUE CONCERNING NOTICE ON A OPTION EXPIRATION, 
THAT WAS A NON ISSUE COMPARED TO THE THOUSANDS OF DOLLARS THEY CAUSED ME TO LOOSE.  I 
EVEN HAVE AN ARMY GENERAL AS A WHITENESS ON THIS END, TO A CALL THEY CLAIM WAS NOT MADE, 
BECAUSE LIKE EVERYTHING ELSE T WAS MY FAULT.  I HOPE I AM ALIVE WHEN THEY MAKE THEIR 
FIRST MISTAKE.  I WOULD LOVE TO RESOLVE MY ISSUES IN THE SUNSHINE SO THEY CAN PROVE THAT 
THEY ARE FAIR.  NO WAY.  OFFERED TO GO TO ARBITRATION IF I COULD HAVE A WHITENESS.  NO WAY,
AN ATTORNEY AND NO ONE ELSE.  THEY SAID THEY WOULD NOT HOLD THE HEARINGS IF I WANTED 
ANY ONE ELSE IN THE ROOM?  PLEASE WAKE UP, OF TELL ME IT IS CONGRESS AND CORP. DONATIONS.