There were actually new regs almost a year ago governing naked short selling, which at the time had been suspected by many on this board of being responsible for the precipitous fall Paivis had made (since then, of course, it fell another 99%).
And how many corrupt penny stocks are there? Ballpark? Hundreds? The CEO of one of them being hauled off doesn't necessarily mean much.
Just my take on it based on my experience here. I suspect that it's buyer beware when it comes to scammy penny stocks and that this particular SEC generally takes a hands-off approach. Granted, the SEC should change under the next administration, but the impact of those changes probably won't be felt for months.
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