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Re: downthehatch post# 1321

Thursday, 07/21/2011 3:32:46 PM

Thursday, July 21, 2011 3:32:46 PM

Post# of 2470
Ding,Ding,Ding, Ding! We have a winner, somebody finally gets it!

It appears some people missed the key point of the article, that the problem for some auditors is not that they found fraud, but that they were put into an untenable position by conflicting US and Chinese laws:
The conflict is this, for those who didnt quite read the full article:
If the auditors comply with an SEC request for their work papers, they may violate Chinese state secret laws. If they refuse the SEC request, due to concerns about violating the Chinese secrecy laws, they put the company at risk of de-listing.

So some auditors may have resigned for reasons that have nothing to do with fraud.



Which made a perfect storm for Shorts that knew this!!!!

By the way, ABAT (back to $2), CBAK and CRTP (hit $1) all had huge rallies today, after days of non stop increases in price off of major lows. CSGH may be next! CRTP made a 300% net gain off the bottom already, trading in pinks with no market makers!!!!

Ambition with out knowledge is like ship in dry dock. Going nowhere fast!