From:	Rule-Comments
Sent:	Wednesday, August 07, 2002 11:09 AM
To:	Rule-Comments
Subject:	FW: your message to the SEC about short selling

From: 	sdcates2 [mailto:sdcates2@cox.net] 
Sent:	Sunday, August 04, 2002 11:49 AM
To:	chairmanoffice@sec.gov
Subject:	End Short Selling

Dear Chairman Pitt:

Short selling was one of the central issues studied by Congress before 
enacting the 1934 Exchange Act, but Congress made no determination about 
its permissibility although many people blamed "bear raids" for the 
rolling stock market crash from 1929 to 1934 and the market's prolonged 
inability to recover from the crash. Instead, Congress gave the Securities 
and Exchange Commission broad authority to regulate short sales in order 
to stop short selling abuses, but Joe Kennedy, a notorious short seller
who made millions during the crash, was appointed as the first SEC 
chairman who naturally did nothing to stop the abuse.

Congress must revisit short selling in light of the current stock market 
meltdown, and this time, eliminate short selling.

Steve Cates
15850 West Bridgewood Drive
Surprise, AZ  85374
623-544-4275