Replies to post #118659 on Bancorp International Group Inc (fka BCIT)

[camper9]

On the contrary, I agree with you about the legalized gambling aspect. One does DD and one places the bet on the table.

What I was saying is that one does not expect the "house" to be crooked. In other words, the underlying transactional infrastructure has to have integrity.

And that integrity is exactly what failed here. Someone, according to the SEC documents, was able to put counterfeit shares into the system, and those shares were never "validated".

Is that a problem? Absolutely in the affirmative.


So, in summary, if you prefer to call investing little more than legalized gambling, I am OK with that. However, I will insist that the underlying transactional infrastructure for that legalized gambling have integrity.




      ¶ Well,,, Don't take this the wrong way

[dwiz5]

clue me in please...tia

[turn2him]

itsmikie:

IMO, as the onion is pealed back(or the 'truth' told) on Madoff, we will see how involved people within the SEC were involved that looked the other way - at what price? Just as the DTCC did with Pammy and Mario. These were just the fall guys. The web is much deeper.