Honest people find it difficult to really believe
Post# of 72440
(Total Views: 118)
Posted On: 01/02/2018 5:16:17 PM
Honest people find it difficult to really believe that so many people are NOT honest.
You'd think that illegal acts would be easy to expose. And they would be, if the SEC wanted to do that. But they must not.
Why do I say that?
For instance: there is NO reason for trades not to clear the same day. They could have gone from T+3 to same-day clearance, instead of going to T+2, but they didn't.
They could give the actual short interest for EVERY stock, EVERY day, instead of twice a month, but they don't.
People report illegal stuff to them all the time, but do they investigate in reality? Nope, if you get any response at all, it's an email or letter saying "Thank you for your inquiry" but then they do nothing.
It's not entirely their fault -- they are underfunded and understaffed -- but a lot of it IS their fault. It would cost them NOTHING to require same-day trade clearance, and NOTHING to require short-interest reporting every day.
They COULD do it, they just don't want to do it.
Let's look at Overstock.com -- they repeatedly tried to get the SEC to do something about the over-100% short interest in their stock, and they ended up having to sue. The toothless SEC refused to help them. It was NOT the SEC that helped them -- it was having a CEO with deep pockets and a determination to fight back that saved the company.
sox, honest people like you find it hard to believe that these crooks would do stuff that is so blatant -- but remember, people had to practically jump up and down screaming before anyone would actually investigate Bernie Madoff. A LOT of people knew it was a scam before anything was done. And they reported it to the SEC and other agencies, and no one wanted to do anything.
When crooks see other crooks getting away with stuff, it emboldens them to do likewise.
Our little criminals have a surprise in store. You'd think they would have learned from the Rosen Firm's experience that they shouldn't mess with IPIX, but they haven't.
Yet.
You'd think that illegal acts would be easy to expose. And they would be, if the SEC wanted to do that. But they must not.
Why do I say that?
For instance: there is NO reason for trades not to clear the same day. They could have gone from T+3 to same-day clearance, instead of going to T+2, but they didn't.
They could give the actual short interest for EVERY stock, EVERY day, instead of twice a month, but they don't.
People report illegal stuff to them all the time, but do they investigate in reality? Nope, if you get any response at all, it's an email or letter saying "Thank you for your inquiry" but then they do nothing.
It's not entirely their fault -- they are underfunded and understaffed -- but a lot of it IS their fault. It would cost them NOTHING to require same-day trade clearance, and NOTHING to require short-interest reporting every day.
They COULD do it, they just don't want to do it.
Let's look at Overstock.com -- they repeatedly tried to get the SEC to do something about the over-100% short interest in their stock, and they ended up having to sue. The toothless SEC refused to help them. It was NOT the SEC that helped them -- it was having a CEO with deep pockets and a determination to fight back that saved the company.
sox, honest people like you find it hard to believe that these crooks would do stuff that is so blatant -- but remember, people had to practically jump up and down screaming before anyone would actually investigate Bernie Madoff. A LOT of people knew it was a scam before anything was done. And they reported it to the SEC and other agencies, and no one wanted to do anything.
When crooks see other crooks getting away with stuff, it emboldens them to do likewise.
Our little criminals have a surprise in store. You'd think they would have learned from the Rosen Firm's experience that they shouldn't mess with IPIX, but they haven't.
Yet.
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