What is the SEC really saying behind those closed doors to these clowns that want to make a lot of money off the suckers?
They can register but the SEC can put up roadblocks. They can piss and moan and cajole and talk to the financial media and politicians about how the SEC is squashing free enterprise.
And they can keep trying for approval which could take months and sometimes months is all you have to make a ton of money off the suckers.
And they can give up and go to the pink sheets to make a ton of money off the suckers.
The Nasdaq's third tier, the AMEX can be just as bad, and last but not least, the OTC, it seems, are financial venues that reward failure.