Post by imSINGLEruRICH on Feb 6, 2008 23:37:17 GMT -5
Thanx Sooner for bringing this over.....
This ya gotta see.
jcline
vegas member
SEC/NSS Reform Watchdog
Ad Placed in Wash DC Newspaper
investigatethesec.com/drupal-5.5/files/CAPT%20Ad.pdf
camrhon.proboards102.com/index.cgi?board=safe&action=display&thread=1202348481
Tues... Feb 5th... Dave was out of town and just opened up his mail to find it and got it up on our website.
Came from Overstock's attorney to us. I belive it was also place in the DC paper today in a different section.
Date:Wednesday, February 06, 2008 9:44:28 PM
REMEMBER A TIME WHEN STOCKS WEREN’T WORTH THE PAPER THEY WERE PRINTED ON?
In the era preceding the Great Depression, powerful investment pools bought and sold "phantom" shares that they did not actually own, with disastrous effects on our capital markets. Rather than learn from the past, we may be destined to repeat it.
Today this illegal practice is more widespread than ever and the SEC is unable to stop it:
Over the past three years, over 6,500 companies have been victims of illegal phantom trading.
Those companies employ, collectively, 22.75 million people.
"Abusive naked short selling is of great concern to the entire Commission, to all of our members and the professional staff at the SEC. The regulation that was first adopted to get after this and related problems, Reg SHO, has proven insufficient to stop the problem… people victimized by it have a great deal of right on their side to complain about it."
Christopher Cox, Chairman of Securities & Exchange Commission
"Objective academic analysis has established that naked short selling has been a widespread practice and one which, when allowed to persist, can pose a threat to the integrity of equity markets."
Robert Shapiro, Former Under Secretary of Commerce for Economic Affairs
As Congress moves to stabilize our markets, protect our pensions and safeguard our economy, it must stop the harmful and illegal practice of phantom trading once and for all.
To learn more, go to www.stopphantomshortselling.org.
1133 Connecticut Avenue, NW, Fifth Floor Washington, DC 20036
This ya gotta see.
jcline
vegas member
SEC/NSS Reform Watchdog
Ad Placed in Wash DC Newspaper
investigatethesec.com/drupal-5.5/files/CAPT%20Ad.pdf
camrhon.proboards102.com/index.cgi?board=safe&action=display&thread=1202348481
Tues... Feb 5th... Dave was out of town and just opened up his mail to find it and got it up on our website.
Came from Overstock's attorney to us. I belive it was also place in the DC paper today in a different section.
Date:Wednesday, February 06, 2008 9:44:28 PM
REMEMBER A TIME WHEN STOCKS WEREN’T WORTH THE PAPER THEY WERE PRINTED ON?
In the era preceding the Great Depression, powerful investment pools bought and sold "phantom" shares that they did not actually own, with disastrous effects on our capital markets. Rather than learn from the past, we may be destined to repeat it.
Today this illegal practice is more widespread than ever and the SEC is unable to stop it:
Over the past three years, over 6,500 companies have been victims of illegal phantom trading.
Those companies employ, collectively, 22.75 million people.
"Abusive naked short selling is of great concern to the entire Commission, to all of our members and the professional staff at the SEC. The regulation that was first adopted to get after this and related problems, Reg SHO, has proven insufficient to stop the problem… people victimized by it have a great deal of right on their side to complain about it."
Christopher Cox, Chairman of Securities & Exchange Commission
"Objective academic analysis has established that naked short selling has been a widespread practice and one which, when allowed to persist, can pose a threat to the integrity of equity markets."
Robert Shapiro, Former Under Secretary of Commerce for Economic Affairs
As Congress moves to stabilize our markets, protect our pensions and safeguard our economy, it must stop the harmful and illegal practice of phantom trading once and for all.
To learn more, go to www.stopphantomshortselling.org.
1133 Connecticut Avenue, NW, Fifth Floor Washington, DC 20036