From: Sean McGowan [spmcgowan@jpmcgowan.com]
Sent: Thursday, August 16, 2001 12:41 PM
To: rule-comments@sec.gov
Subject: Trading in Subpennies

What in God's name are you trying to accomplish by trading in
subpennies? I feel, and I can assure you that I am not alone, that the
SEC is not helping one bit in their efforts to level the playing field.
In fact, the SEC is doing more harm than good and trading in subpennies
is just plain ridiculous. I am not going to list the reasons b/c it
would take all day and you are not worth my time and I am sure that the
masses will outline their reasoning against such an outrageous proposal.
The SEC has already put enough people out of work and have ruined enough
lives and if subpennies are indeed introduced to the markets, even more
people/firms will fold and we will all have the SEC to blame and then
who is going to pay your fees? Maybe you too will suffer the same
consequences that your overzealous and unnecessary policies have caused
and it couldn't happen to a nicer agency.