From: Dan Silverstein
As the Managing Member of an investment company which invests from time to time in Pink Sheet stocks I am dismayed that illegal short selling apparently is a practice that continues to elude the intervention of federal and state regulatory agencies.
I believe the problem is serious enough to merit immediate consideration. As we all know too well these days well connected investors have the ability to circumvent securities laws to advance their own interests. While public outrage may be characterized to some extent as "a pox on all your houses", the real underlying danger is in an erosion of confidence in the capital markets system.
Anything that erodes confidence in the likelihood that the little guy is getting a fair price is as insidious an enemy in economic terms as any that we imagine to be plotting our downfall by political or military means.
Consequently, I view this ongoing assault on low priced securities as a problem of such seriousness that I can not understand how it can be ignored by our regulatory agencies