Date:    12/28/1999  12:39 PM

Subject: Proposed Regulation FD

Chairman Levitt:
     
I would like to compliment you on your Proposed Regulation FD, It is difficult 
for me to visualize this as anything other than a select group being allowed to 
trade on insider information.  I am also concerned about brokerage houses making
announcements on changes in ratings on a particular stock, as to buy or sell 
ratings.  Are we to believe that these houses have not placed their respective 
buy or sell orders prior to the release of this information.
     
Respectively,
Bill Brumley