(Total Views: 351)
Posted On: 08/22/2018 12:52:58 PM
Post# of 74805
Understood, but not to say all MM's are crooks. Fact is they provide a greatly needed service to small companies that wish to go public but are far too small to qualify for the big exchanges.
The problem lies with lack of funding for a much more robust SEC which would be required to pursue "smaller" issues, and above all, to create new and more comprehensive regulations and then actually have the manpower and funding required to enforce those regulations. They have a tough enough go of trying to enforce what's already on the books, like naked short selling of stocks.
I read through the SEC's site all the time. https://www.sec.gov/
It's mind boggling how many crooks there are out there, and it's safe to say the cases/convictions listed each year cover just a small fraction of the fraud that's actually committed. They have no choice (for one reason or another) but to prioritize where they look and what they pursue.
Another unfortunate reality is how it's been uncovered in the past that certain fat cats in certain very large investment banks have much more influence than they should have over certain regulatory organizations and individuals within those organizations.
Those "certain" investment banks often get directly involved in "investment" activities (anything highly lucrative) such as naked short selling (and paid bashing, of course) of the common stock of OTC companies, supposedly illegal as all hell, but never have the hammer fall on them. Wonder why?
Well, if they're too big to fail as we learned the hard way 10 years ago (sub prime meltdown) when regulations were too lax to keep the evil/foolhardy greed mongers in check, ya think maybe their "contributions" could make them too big to fail in other ways as well? lol
The problem lies with lack of funding for a much more robust SEC which would be required to pursue "smaller" issues, and above all, to create new and more comprehensive regulations and then actually have the manpower and funding required to enforce those regulations. They have a tough enough go of trying to enforce what's already on the books, like naked short selling of stocks.
I read through the SEC's site all the time. https://www.sec.gov/
It's mind boggling how many crooks there are out there, and it's safe to say the cases/convictions listed each year cover just a small fraction of the fraud that's actually committed. They have no choice (for one reason or another) but to prioritize where they look and what they pursue.
Another unfortunate reality is how it's been uncovered in the past that certain fat cats in certain very large investment banks have much more influence than they should have over certain regulatory organizations and individuals within those organizations.
Those "certain" investment banks often get directly involved in "investment" activities (anything highly lucrative) such as naked short selling (and paid bashing, of course) of the common stock of OTC companies, supposedly illegal as all hell, but never have the hammer fall on them. Wonder why?
Well, if they're too big to fail as we learned the hard way 10 years ago (sub prime meltdown) when regulations were too lax to keep the evil/foolhardy greed mongers in check, ya think maybe their "contributions" could make them too big to fail in other ways as well? lol
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