Funr (FUNR)

[SharonB]

osignal: I am more worried about the broker to broker trades that are not reported as FTD instances. I don't see where the Grandfather Clause will help in that case for many of the companies or the removal for the up-tick rule recently enacted for that matter. In fact it would hurt ILCO or any company under a bear raid. This was a gift to the hedge funds that I think is terribly wrong.

It was worth noting that the subject NSS and phantom shares were brought up by Senator Bennett of UTAH at the referenced meeting below.
Committee: US Senate Committee on Banking, Housing, and Urban Affairs on 7/31/2007
Title: The State of the Securities Markets To view Senator Bennett go to the following link. http://banking.senate.gov/index.cfm?Fuseaction=Hearings.Detail&HearingID=274
That will lead to the following link after installing free real player. Then you will be re-directed to:
http://banking.senate.gov/07_07hrg/073107/archive.ram .
Go to 01:22:00:00 time to see Senator Bennett’s starting comments. The closing comments end at 01:31:00:00. The whole hearing is informative. You might want to listen from 01:16:00 about hedge fund valuations and just keep listening through the Bennett section at a minimum. IMO.

Link to PDF Finance Comm to SEC re Aguirre etc (SEC dropping the ball)
http://www.finance.senate.gov/sitepages/leg/LEG%202007/36960.pdf
(It is located in the article after opening up.
http://www.nytimes.com/2007/08/04/business/04pequot.html?_r=1&adxnnl=1&oref=slogin&adxnn.... )
SharonB