Date:    01/17/2000  9:50 PM

Subject: Regulation FD

     
Gentlemen:
     
Commissioner Levitt is to be commended for bringing this 
issue into public discussion & scrutiny.
     
I have long felt that there are three layers to the 
securities world:
     
1) The insiders, who are regulated, watched (and punished 
for infractions).
2) The "betweeners" with the privileged info (and profits) 
3) The public, who knowingly constitute a free-for-all for 
the remaining information and in the marketplace.
     
$13 Billion in bonuses to Wall Streeters is obscene.
     
Stick to your guns.
     
R. L. Sosnowski