:):) LOL!.
Ya know its truly a revelation. Before all this stuff occurred in the market, I made reference to where this market was heading. Not only to Finra, not only to the SEC, but to our State Governor, and a few members of Congress. I emphasized the recurring things in the OTC market, and the hundred of millions of lost investment money in the OTC to retailers just in a span of 5 years and it may be more realistic to state billion(s) with a 10 year time frame based on the activities of these crooks utilizing 504's, and S-8's filings, among the various other filings, and the selling of non registered securities. This sector has more than 20,000 companies, and at least 6500 that actively trade, so these figures are not exaggerated. This legal corruption feeds thru the rest of the market like cancer.
Who would have guessed that the OTC market would play such a significant role in taking down world economies, along with major companies, and banks worldwide?. This is and has been the back alley for the selling of CDS insurance in particular AIG. Goldman Sachs, Lehman, JP Morgan, Bear Stearns among the many other have patronized this shady establisment.
Whether its the seniors or here where companies do not even have to file on their activities companies are being used as ATM's, or better said, their own piggy banks. Here lies the major legal corruption. There are more ways than one these people loot companies who either employee them or they themselves have founded. It may be independent, or a partnership, they richly reward themselves with stock investors hard earned money. Its done with certs, stocks, stock options primarily and the use of market makers to do their bidding. Until this is "Banned", "Barred", thru Congress and enforcement thru regulatory agencies expect more of the same. This is the root of the corruption, and from here it can be expanded upon.
These people are no better than anyone else who is expected to
receive a paycheck from the companies that employee them. People have to show up an earn them to receive one, and so should they, in paycheck form only.
There are also ways and means of reeling in the activities from Off Shore Hedge-funds, and the ends to their means of being able to short on borrowed stocks, and naked shorting on any an all instruments such as derivatives, barring this activity since putts and calls already exist. Last but not least there really needs to be some regulatory reform on Market Makers, and the need for real oversight over them so they cannot either manipulate, nor personally trade on their inside information, which they do!.
Ya know there are just some common sense things that Congress can do to eliminate this racketeering, and then make the jail sentences longer, and fines bigger for all those who want to break law. Not everything is within their power to do. They cannot regulate what Ceo's an key execs can earn, for this shareholders need to have a voice, but they can pass legislation putting new restrictions on shares that give them control of the company, and then in addition to this eliminate pay thru stock, an options. If these people want to own shares outside of these then they should have to buy them like everyone else, "on the open market". Anything short of this will eventually lead us down this road again, and next time it could be truly horrific.
Not one, not one person working within a publicly traded corporation is worth a multimillion dollar paycheck. Just give a little thought to how much money $5,000,000 is in annual salary. Its staggering. But this is pocket change for most, and for us its hitting the lottery. When we see the exorbitance of some of these pay packages, plus their severance even if they only serve short term is absolutely insane, and it feed that greed, and it matters less if the company(corporation) fails or succeed.
Reform is just a word unless the Congress working with the President has some real teeth. Teeth like a chain saw.
