Calypso Wireless (fka CLYW)

[downsideup]

"the SEC's stunning failure to detect Madoff's fraudulent scheme for 16 years"...

I think the question is why anyone with any awareness would find it stunning to learn that the SEC wasn't doing its job ?

Here, obviously, a good number of the shareholders aren't in the mode of sitting around waiting for the SEC to do their job to rescue them from bad actors. CLYW does provide a particularly good example of how it is that the regulatory failures at the SEC have broad, negative consequences for the economy at large.

I think the SEC does KNOW what has been happening here... and still expect it is unlikely they'll do anything until they are FORCED to act, in pretty much the way they were finally forced to act in too obvious instance in the Madoff affair. I still think it is vastly more likely that the FCC investigations, and those of other agencies, rather than any SEC interest, will be likely to result in enforcing the laws in a way that matters to CLYW holders.