July 25, 2008
Effecting a fanicial gain by flooding the market with the sale of counterfeit unregistered stock thereby driving down stock prices and companies into bankruptcy is outright fraud. Those who engage in this practice should be punished with a fine of at least twice the cost of the damage caused to the victims that suffer a loss.
I can see no sense at all in encouraging the practice of seeking to profit from failure. I want any enterprise or organization that produces products or services of value to succeed. But if it does fail, only market forces, not market manipulation, should cause the failure.