WarpCore61, I empathize with your concerns. However, the "mess" you mention will be resolved easily. Shares will be bought by brokerages.
Let us remember the SEC is right on top of Globetel and GTEM. This will prove to be in Globetel's favor imo.
The times they are a changin! Better late than never!
Schekin
from pontiyak,
'Fed and S.E.C. to Redraw Wall Street Regulations, Report Says
June 23, 2008, 7:31 am
The Federal Reserve and Securities Exchange Commission are finalizing an agreement to start the process of redrawing how Wall Street is regulated, The Wall Street Journal reported.
The agreement, which could be announced this week, aims to fill gaps in regulatory oversight and will increase cooperation between the central bank and the S.E.C. in the wake of the near-collapse of Bear Stearns, the report said.
The type of information to be shared between the two would include data regarding settlements, trade and positions. The S.E.C. will also get information from the Fed on short-term financing from the banks that clear trades and hold collateral for the securities firms, the report said.
Under the agreement, the Fed would be able to see an investment bank’s trading positions, its leverage and its capital requirements, The Journal said.
The change will expand the Fed’s oversight of the financial system to include investment banks, the report said.
Currently, the S.E.C. has oversight of brokerage firms while the Fed has oversight of bank holding companies and commercial banks. "
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