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Re: NiteShift post# 8285

Saturday, 07/17/2010 7:40:28 PM

Saturday, July 17, 2010 7:40:28 PM

Post# of 8745
NiteShift I think you are missing the point here.

There were so many dirty hands in the cookie jar here that the "common shareholder" was unlikley to be the one who ever made any money.

And, this is likely the reason the SEC was so quick to step in.

I see at least 3 individuals who the SEC has litigated for their actions related to penny stocks.

You think those 3 are 100% reformed and were here to give back to the general public as some sort of 12 step recovery program?

The SEC had no choice. This stock was going to get worked by some very seedy individuals who are very well known to the SEC.

Allowing them the opportunity to dupe the public again would be much worse than pulling the plug don't you think? Regardless of your thoughts can you explain which situation is better?

(1). SEC turns the other cheek and lets the usual suspects pull the same old scheme on a new batch of investors?

Or.

(2). Pull the plug and use delinquent filings as the easy way to shut it down before anybody else gets hurt?

Seriously, what choice did they have given the circumstances and the players involved?

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