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This is in regards to SEC Chair Jay

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cowtown jay Member Level  Saturday, 06/20/20 06:22:56 PM
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This is in regards to SEC Chair Jay Clayton. By his own admission, before his appointment as Chair, he was unaware of the substantial problems affecting countless shareholders, such as the tens of thousands of SpongeTech shareholders, in OTC penny stock markets.

Now, he is being considered for appointment as the new US Attorney for the Southern District of New York. That's assuming the current US Atty for the SDNY, Geoffrey Berman, will leave the position. He says he won't accept being terminated from his position, and will not leave. Of note is the fact the Berman was appointed to his position by judges in the SDNY.

It was a federal bankruptcy court judge in the SDNY who heard the SpongeTech case. I could not convince him that naked shorting adversely impacts the issuer. Nor could I convince him to order a list of shareholders, which is a required scheduled item in a corporate bankruptcy.

President Trump refused to nominate Berman to the position he currently holds as US Attorney for the SDNY.

I also think he should not nominate Clayton to that position.

I think there are issues in this case that should be investigated by the Federal Elections Commission. I hope that John Durham has, or will, look into this, also.


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