March 29, 2008
I think that the SEC is and has been the absolute worst enforcement agency for the American public today.. Malfeasance or Misfeasance comes to mind 1st and quickly followed by criminal... If memory serves me one of your personal stated there was no such a thing as short sales or FTD's at a hearing for CMKX Diamonds...
Now we find this regarding short sellers:
Today Bear Stearns and the Commission blame the short sellers for the run on the bank. Suddenly short sellers really can destroy a public company by shorting the hell out of it and disseminating false rumors into the marketplace. Now that the victim is one of the five largest banks in America this is suddenly a serious issue. Before when the victims were smaller companies with lesser public appearance the issue was non-existent, today it is real.
Read the complete story at InvestigatetheSEC.com
So was she correct at the CMKX hearing? It seems to me that so called trained lawyers who are protecting the investing public would certainly know what was happening in the markets... SHOULDN'T they?
Either way CMKX shareholders should have been made well aware of the FTD's / short sales that were transpiring daily .. After all isn't shorting, ftd's or whatever you want to call it a crime? I guess in the eyes of the SEC stealing shareholders money and allowing companies to be put out of business in the past was/is very acceptable..
Now Mr Cox and your committee.. take the time to fix the issue and bring those to justice who have committed the crimes against shareholders/investors...
Mostly, repay those shareholders who were robbed.. I also think there is a provision in place for that.... isn't it?