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Re: mimurray post# 106422

Sunday, 03/05/2006 1:03:40 PM

Sunday, March 05, 2006 1:03:40 PM

Post# of 286279
OT : Mimurray ...others : The recent Refco scandal demonstrates that the SEC should be decommissioned , not just for their egregious lack of supervision in the OTC / P.S. markets , but in the National Markets as well !!!! Unbelievable losses to ALL investors ....and there is strong evidence of major naked shorting / fail to locate selling by perpetratrors in Refco ( RFXCQ.PK ). **** Refco was an IPO in 2005 and was supposed to be under the microscopic scrutiny of the SEC . The SEC failed miserably !

I knew when REG SHO was released that the " grandfathering "
clause that allowed ALL prior naked short positions to be
technically forgiven that the SEC was in collusion with ALL entities that had engaged in counterfeit naked shorting . An estimated $3 to $5 TRILLION dollars of counterfeit naked share sales over many years that never had to be accounted for is cause for Congress to decommission the SEC , in my opinion .

I have studied this criminal epidemic in great detail .

Bugs Bunny would do a better job of protecting public investors , IMO .

To bite the worm of incite is to bite the HOOK of the antagonist . They win .