Replies to post #9012 on Hemi Energy Group Inc. (fka HMGP)

[moneymogul2b]

My sister is proof of their devious ways. The SEC is to protect the brokerage, not the investor. They are all in each other's pockets.

[Argyll]

I have had some dealings with the SEC, but I find it difficult to be critical as their budget is cut almost every year, severely impacting any kind of securities fraud enforcement. They have very little money to do much and very little attraction to any high caliber lawyers as they pay meager salaries. And it has been getting worse every year under the present administration which is so devoted to tax cuts.

Yes, people get excited about tax cuts, but it's likely a lot more money would be saved by contributing to and strengthing institutions that work for the common good.

It's been clear in the history of the SEC that as the budget goes, so goes enforcement.

[Montanore]

The SEC is not here to protect investors or even small companies from naked short attacks. Oh, they might crack down on someone as an example from time to time (like Refco), but mostly they're here to protect big money and big interests--as well as keeping the stock market from imploding. That means they must even protect hedge funds and, yes, naked shorts. The market is riddled with counterfeit shares and if they made everyone cover it would set off a bomb ten times the size of the S&L crisis. It would trigger a devastating derivative time bomb.

You're right about them being in someone's pocket. The SEC is controlled by the FED/central banksters/corporatacracy complex. It's there to protect THEIR interests, not ours.

JMHO.

[davidmarkblack]

OT......Ludwig von Mises on bureaucracy.

"The worst law is better than bureaucratic tyranny."

"Nobody can be at the same time a correct bureaucrat and an innovator."

"Seen from the point of view of the particular group interests of the bureaucrats, every measure that makes the governments payroll swell is progress."

"If you have to convince a group of people who are not directly dependent on a solution of a problem, you will never succeed."

"The bureaucrat is not free to aim at improvement. He is bound to obey rules and regulations established by a superior body. He has no right to embark upon innovations if his superiors do not approve of them. His duty and his virtue is to be obedient."

"A bureaucrat differs from a nonbureaucrat precisely because he is working in a field in which it is impossible to appraise the result of a mans effort in terms of money."

"Only to bureaucrats can the idea occur that establishing new offices, promulgating new decrees, and increasing the number of government employees alone can be described as positive and beneficial measures."

"The trend toward bureaucratic rigidity is not inherent in the evolution of business. It is an outcome of government meddling with business."

"No private enterprise will ever fall prey to bureaucratic methods of management if it is operated with the sole aim of making profit."

Ludwig von Mises