stockaholic- I think westergaard's problems aren't exactly what you mean by your posts about manipulation and message boards. He apparantly didn't reveal he was compensated, so he would be breaking the 17b rule, if it's proven. but people just posting crazy things I don't think can get into trouble unless they trade or are in charge of people that trade, and they are like mouthpieces for them.
The message boards do affect prices of stocks, so I think the SEC needs to address the message board phenomena as soon as they can. I seem to remember reading that there's one senator or congressman who wants the sec to rewrite or review the entire sec acts, and update them.