July 25, 2008
My opinion is that it is about time the SEC enforced the law .Many new American businesses with great products have been destroyed by these shananigans. I don't think microsoft would have survived in this environment. Since it was started by a couple of kids in a garage. Put the violators in jail where they belong especially managements and the "John Leismans of the world" who conceal (as in overstock .com) and therefore are complicit in violations of the law. Many have lost fortunes and have since joined the ranks of those who maintain the notion that the stock exchange is to be avoided it is frought with criminals. And they are right. There are many business selling for less than book as Tesoro(TSO). This company has 7 refineries and has a market cap of 2.13 billion dollars which is less than it would take to buy one used refinery (a new one costs between 3-4 billion). The SEC needs to stop this carnage and arrest and punish these criminals with the RICO act and jail sentences