NO QUARTER FOR CORRUPTION (Focussing on The Fed./FRBS)

[Telephonics]

http://www.faulkingtruth.com/Articles/Investing101/1056.html


Faulking Truth recommends abolishing the SEC
by Mark Faulk
April 27, 2006


For years, stock market reform advocates such as Dave Patch at www.investigatethesec.com have been calling for an inquiry into the Securities and Exchange Commission. Over the past few years, Patch has been joined by a handful of other outspoken advocates, and gained the support millions of others who can clearly see the trouble that our financial system is in. Still, the SEC has done nothing to fix the overall problem, instead choosing to apply band aids in the form of minor penalties handed out low level criminals, and in fact, has done everything within its power to hinder attempts by the companies themselves to police their own situations. Either they don’t get it, or they just don’t care. It’s time for drastic measures, because it’s become painfully obvious that the SEC is not going to help the shareholders of this country OR the companies that are being forced out of business on a regular basis.


As we listened to SEC Chairman Chris Cox talk in circles (and end up right back where he started…which is nowhere at all), during his appearance in front of the Senate Banking Committee two days ago, it occurred to me that a full scale investigation would be a waste of taxpayers’ money. It’s too late for that.


Let’s start with a couple of Chairman Cox’s statements in response to Senator Bob Bennett’s questions about the still rampant issue of naked short selling…or as I prefer to call it, STOCK COUNTERFFEITING, commonly known as stealing. Keep in mind that I was first informed of Senator Bennett’s involvement in this issue over 20 months ago, and to date, NOT A DAMN THING HAS BEEN ACCOMPLISHED BY OUR ELECTED OFFICIALS TO RESOLVE THIS MASSIVE PROBLEM.


Is everyone ready for this? Seriously, be sure you’re not in the middle of drinking something hot, because you might end up spitting it all over yourself in disbelief. And it wouldn’t hurt to put scissors and other sharp objects out of reach, just in case you have an overwhelming urge to stab yourself repeatedly upon reading his Orwellianesque logic.


Okay…NOW are we ready? Fasten your seatbelts, it’s going to be a bumpy ride.


To read the rest of this commentary, go to:


http://www.faulkingtruth.com/Articles/Investing101/1056.html