Been giving this a lot of thought.
I know i have been back and forth on this but it is no easy deliberation.
I am resolute now more than ever, the sec is not going to admit error IMO, EVEN if they do, we will still go grey and need a 15c211 and MM, to return to pink.
Just can't find many examples of them admitting error before, and without specific knowledge on what press releases and what inadequate or inaccurate info they are specifically addressing, we have no idea where this is going.
Now of course wishfull thinking would like to see a complete recant and reinstatement to pink, with no harm done, I just dont think it's in their vocabulary.
Larry has much to get done in the coming days. Until the sec's intentions are made clear to Larry we wait, no point guessing further until then.
Now I do have issues with the pink guy saying skull and crossbones, blanketing us under the umbrella of spammers.
Seems a bit premature, and immature for a man in his position.
That in itself couped with the sec's recent comment telling companies to basically "quit whining" is the subject of much debate on boards everywhere, and in front of and behind closed doors. As honorable as their intentions may be, people are not going to take this kind of abuse lightly. We shall see what prevails.
SEC Enforcer to Business: Quit Whining
« on: March 09, 2007, 08:21:29 AM »
--------------------------------------------------------------------------------
The nation's top securities watchdog yesterday mounted a forceful defense of the government's ongoing crackdown on corporate fraud, amid industry complaints that authorities are overreaching in their drive to police misconduct on Wall Street.
Linda Chatman Thomsen, the enforcement chief at the Securities and Exchange Commission, told an assembly of corporate lawyers that businesses should stop "blaming everyone else for [their] issues" and instead take steps to prevent fraud and investor abuse inside their own operations.
"Greed and money continue to be powerful, powerful motivators that aren't going away," Thomsen said, according to a copy of remarks she delivered to the Corporate Counsel Institute at Georgetown University in the District. "We've got plenty to do, and we're doing it."
The vigorous defense comes as the U.S. Chamber of Commerce prepares to issue a report Wednesday calling for less-burdensome regulation and more-targeted enforcement of U.S. companies to protect the competitiveness of the markets. The Chamber report follows two similar studies: one issued by a panel formed with support from Treasury Secretary Henry M. Paulson Jr. and another sponsored by Sen. Charles E. Schumer (D-N.Y.) and Michael Bloomberg, the Republican mayor of New York.
In recent weeks, securities enforcers have filed charges against brokers and managers for taking part in a six-year-long insider-trading ring and for tampering with the dates they awarded stock options to themselves and favored employees.
Yesterday, Thomsen sounded alarms about another area of interest: whether executives are taking advantage of a legal safe harbor to sell their stock and profit before their companies report bad news. In 2000, the SEC passed a rule that allows corporate officials to develop a formal trading plan that sets out prearranged dates when they can sell shares without facing insider-trading allegations. But academic studies suggest that the rule may be a cover for improper activity, Thomsen said.
"We're looking at this hard," she said. "If executives are in fact trading on inside information and using a plan for cover, they should expect the 'safe harbor' to provide no defense."
AI
