Re: Draft Letter to TJ Sattler

----- Forwarded by Richard B Sanders/HOU/ECT on 11/26/2000 09:20 AM -----

Carey M Metz
10/26/2000 07:11 AM

To: Richard B Sanders/HOU/ECT@ECT
cc:
Subject: Re: Draft Letter to TJ Sattler

Here is a letter detailing what I feel our response should be. It makes no
absolute statement regarding pricing errors, but does commit to the validity
of "in the market" online trades. I do want to check the audio tapes to
review exactly what the trader said, before we send anything back. I feel
this letter highlights the difference between the situation on June 1 and the
other events. I also feel this should significantly quiet their stance.