Grifco Inc (GFCI)

[back2basics]

Sam, I'm steadily becoming more dissapointed/disallusioned by my Government in so many ways. Securities regulators allow investors to be the prey of major scams and manipulation that has nothing to do with bring capital and business together for mutual benefit.

The DTC completely failed us with the CTBG distribution. They had over a year from the effective date in June 2006 until they approved the distribution in late July 2007.

If they had been doing their job, or even cared, they should have known the 1.89 div ratio was bogus, yet they allowed brokerages to put those share in our accounts, unrestricted. Had they simply restricted the delta between 1.89 & 1.29, no one would have been hurt.

They compounded things by notifying brokerages of the impendeing share buy back a full month before we knew anything about it. That left us exposed to thieves in the DTC and brokerages to quietly buy GFCI shares at .02 & under and them sell them to us at from .07 to .10.

I have no evidence that it happened that way, but I firmly believe thieves within agencies are alway alert to opportunities to work the system to their benefit.

And finally the DTC flat ignored the Judge's TRO, putting a stop to unilaterally forcing us to buy, and ordered the brokerages to proceed.

We almost surely had a case against the DTC, but they know how to make it too expensive to sue them.

Another brick from the wall of confidence I once had.

B2B