NO QUARTER FOR CORRUPTION (Focussing on The Fed./FRBS)

[Telephonics]

In reference to the forum-- The credential of the panelists were impeccable. SEC,DTCC Academia and State Regulators all were impressive. I was somewhat disappointed by the small number of attendees. something between 75-100. As the meeting went forward one could get the feeling that the larger part of the audience were strongly biased against the SEC and even some of the panelists had a difficult time not berating the DTCC and its staff members who were present. I shall try to scan a letter from the sponsoring entity and addressed to the SEC wherein recommendations are made in regard to controlling naked shorting.