The time is now for Americans to demand their Senators put a stop once and for all to the notion that an SRO is the proper party to oversee and arbitrate all financial transactions in which their members are also permitted to be advisor to you and principal traders trading their capital against you.

In no other facet of society would you permit such a relationship. I'll draw a hypothetical comparison, which thankfully does not exist.

Say you have a marital dispute. Say your lawyer, as permitted by the Bar, could both counsel you and take advantage of you by trading against you. Your spouse is in the same situation with another lawyer from the same law firm. And after they have had their way with the both of you, say they could take what's left of your estates to a third lawyer in the same firm to settle the balance. The third lawyer, i.e., the managing partner, is the SRO.

I ask you: Do you honestly think you and your spouse would stand a chance of being treated fairly? You can see how ridiculous that situation would be, but it does exist in financial markets. It is exactly what has gone on since the 1930's.

When somebody says to you "Trust me with your money," it ought to be a prerequisite in law that they cannot trade against you. But it is not.

When somebody is appointed to arbitrate financial disputes, it ought to be a prerequisite in law that they must be independent and objective. But it is not.

When financial scoundrels need to be investigated and prosecuted, it ought to be done by an arm of the law. But it is not.

So, in the matter of self-regulation before the Senate Banking Committee, it should NOT be a choice of NYSE Group or NASD, or both; but neither!

So call or write your Senator and tell them to STOP THE NONSENSE. It will take you two minutes, and you will be doing a lot for society.

Thank you.

In closing, I want you to know that I have presented this same case in person in formal hearings of both the Senate of Canada Banking Committee (Hansard transcription available) and the Canadian Securities Administrators (Canada's equivalent of the SEC).

This is not a new issue with me. What I lack are the Little People -- the owners of capital -- to stand in line behind me and push for much needed change.