On Tue Jul  4 08:58:47 2000,
The following information was submitted: 
Host: 209.86.186.72
submit_by = scottmacm@ragingbull.com 
Name = Scott MacMillan
Professional_Affiliation = Investor
Subject = Market Makers
Comments = The idea that market makers ("MMs") do anything to benefit the 
markets, through short selling or otherwise, is outdated.  It is not reasonable 
to believe that MMs contribute to an "efficient market" when their trading 
practices are so often coordinated and designed to benefit only themselves.  Any
benefit the markets might derive from the activities of MMs is pure coincidence.
     
     
The MMs do not have any responsibility to provide benefits to the markets. There
are no rules or regulations that require them to do so, or to make any effort to
do so.  To allow them to operate almost unchecked based on the premise that they
"might" do something positive when their own behavior is intended to be 
self-serving is naive.
     
Many investors are literally afraid to invested in OTCBB stocks because of the 
ability of MMs to manipulate those stocks.  
     
MMs should not be allowed to sell short in their own accounts.  Their interests 
should, by law, have to be consistent with the interests of their clients.
     
You are taking too long to deal with this matter.  Public hearings are worthless
when it comes to esoteric matters such as those at issue here.  Most "investors"
think "MM" is a candy, "M&Ms."  
     
The solution is simple:  Change the rules so MMs cannot manipulate stock prices.
 You know many people object to "Big Brother" (the government) watching out for
us, yet you put the MMs in that very role with respect to the markets.  They 
watch out only for themselves.
     
Thank you.
     
Scott MacMillan
2400 N.W. 40th Circle
Boca Raton, FL 33431