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Post by blu1236 on Oct 22, 2008 14:22:35 GMT -5
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Post by twobits10 on Oct 22, 2008 14:46:49 GMT -5
consider cmkx "announced"......
this is probably the "telling" paragraph:
"Additional data on the SEC’s FY 2008 enforcement results will be available as part of the agency’s Performance and Accountability Report, which is scheduled to be published in mid-November."
2bits
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Post by imSINGLEruRICH on Oct 23, 2008 7:51:51 GMT -5
SEC Announces Fiscal 2008 Enforcement Results
Agency Brings Second-Highest Number of Actions Ever; Significant Increase in Insider Trading and Market Manipulation CasesFOR IMMEDIATE RELEASE 2008-254 Washington, D.C., Oct. 22, 2008 — The Securities and Exchange Commission today announced that the second-highest number of enforcement actions in agency history took place in fiscal year 2008. For the second year in a row, the SEC also returned more than $1 billion to harmed investors through Fair Fund distributions. “The SEC’s role in policing the markets and protecting investors has never been more critical,” said Linda Chatman Thomsen, Director of the SEC’s Division of Enforcement. “The dedicated enforcement staff has been working around the clock to investigate and punish wrongdoing. The staff’s commitment is unwavering year-in and year-out. We look forward to continuing our vital mission of investor protection in the coming year.” The SEC brought 671 enforcement actions during the just-completed fiscal year, with the number of insider trading and market manipulation cases up more than 25 percent and 45 percent respectively over the previous year. In addition, the SEC has more than 50 ongoing investigations relating to the subprime market. The Division of Enforcement also reached preliminary settlements in principle with six of the largest firms in the auction rate securities market. Although not included in these FY 2008 enforcement statistics, these settlements, which are subject to final approval by the Commission, would be the largest in the history of the SEC and would return more than $50 billion to investors. The SEC took a record number of enforcement actions against market manipulation in FY 2008, including charges against a Wall Street short seller for spreading false rumors, and charging 10 insiders or promoters of publicly traded companies who made stock sales in exchange for illegal kickbacks. Among the major fraud cases brought by the SEC in FY 2008, the SEC sued two Bear Stearns hedge fund managers for fraudulently misleading investors about the financial state of the firm’s two largest hedge funds. The agency also charged five former employees of the City of San Diego for failing to disclose to the investing public buying the city’s municipal bonds that there were funding problems with its pension and retiree health care obligations and those liabilities had placed the city in serious financial jeopardy. The SEC brought the highest number ever of insider trading cases in FY 2008, including charging former Dow Jones Board Member David Li and three other Hong Kong residents in a $24 million insider trading enforcement action, and charging the former chairman and CEO of a division of Enron Corp. with illegally selling hundreds of thousands of shares of Enron stock based on nonpublic information. Combating accounting fraud, including illegal stock option backdating, also was a priority for fiscal year 2008. During the year, the SEC charged eight public companies and 27 executives with providing false information to investors based on improper accounting for backdated stock option grants. Another growth area is cases against U.S. public companies that use corporate funds to bribe foreign officials, an activity precluded by the Foreign Corrupt Practices Act (FCPA). In fiscal year 2008, the SEC filed 15 FCPA cases. Since January 2006, the SEC has brought 38 FCPA enforcement actions — more than were brought in all prior years combined since FCPA became law in 1977. Additional data on the SEC’s FY 2008 enforcement results will be available as part of the agency’s Performance and Accountability Report, which is scheduled to be published in mid-November. # # # www.sec.gov/news/press/2008/2008-254.htm
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Post by imSINGLEruRICH on Oct 23, 2008 7:58:09 GMT -5
Yesterday at 7:34pm, scottbro2 wrote
:**That 50 Bil settlement has NOTHING to do with cmkx.
It's related to Auction Rate Securities only.
Just FYI .
Scottbro2
snoopstock5
DIAMOND JEDI WARLORD
Re: $50 BILLION SEC SETTLEMENT«
Reply #22 Yesterday at 9:17pm »
Silver is right go reread read about derivatives. Or should I say OTC derivatives and auction rate securities. However, the bad news is that 50 billion is not Rico charges and 50 billion to Cmkm shareholders is piss in the bucket. You would not even get your money back. If this is all they are talking about we might as well hire a lawyer, who will get 30%, but will get what is legally coming to us and that is Rico. Not necessarily talking about Cmkm, because they supposely covered that already.
.54 x 634 billion = 342.36
I don't see 50 billion going very far except for .0000001 for Naked shorted shares in the Otc derivatives. They are going to have alot of problems with this one because they will have to OPEN THEIR BOOKS. If they dare to claim National Security, it would fall under the Rico act. End of story and end of the SEC, government, banks, politicians trying to get away with mass murder of WE the peoples money.
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Post by imSINGLEruRICH on Oct 23, 2008 8:00:36 GMT -5
supercim
DIAMOND JEDI MASTER
Re: $50 BILLION SEC SETTLEMENT« Reply #29 Today at 1:42am »
IMO, if CMKX gets nothing for 2-3 trillion NSS from that $50 billion settement, Tylers have failed to get justice served.
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Post by imSINGLEruRICH on Oct 23, 2008 15:51:09 GMT -5
 g7allen7
DIAMOND DIGGER
Re: $50 BILLION SEC SETTLEMENT« Reply #49 Today at 2:46pm » $50,000,000,000.00 /800,000,000,000.00= .06 times my shares 32,000,000.00 =$2,000,000.00 Where is the other .48 cents per share or the $15,360,000.00 that is short of .54 cents May our Father in heaven bless those who look out for others, and may the greed of a man eat him up from with inside. Other words they are rotten from their greed. I certainly don't need this much money, but it would be a great to have this kind of money in the hands of people that love our people and our country from those that would sail us down the river to poverty
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Post by imSINGLEruRICH on Oct 23, 2008 15:55:43 GMT -5
Today at 12:44pm, grantwf45 wrote:
I see it this way. By this statement, the SEC has now provided a soft notification that their about to issue large settlement payments to many victims of the Auction rate securities fraud. It just so happens that CMKX'ers have been included in the settlement to hide the naked short and the amount greatly exceed 50B.
kibert79
DIAMOND JEDI
Re: $50 BILLION SEC SETTLEMENT
« Reply #52 Today at 3:41pm »
I don't know about "greatly exceed 50B"......BUT, I could easily see CMKX restitution being "hidden" in an SEC settlement similiar to this one (or part of this one). They will NEVER say, "yup, we let shareholders get naked shorted to the trillions.....here's your money". Any NSS payment WILL BE HIDDEN.
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