Replies to post #1515 on The Authoritative NSS Page (NAKED)

[fourkids_9pets]

as janice would *post* christ on a crutch
let's expand horizons

they suck because they like most others *imo*
in washington are corporately owned ~

the problem has become the *greed*
(for lack of a better word)
has overtaken to the point where the
street and *others* would eat their
young if it proved profitable enough

again ~ i look forward to consistency
i look forward to agencies not having
turf wars and data on publicly traded
co.s being *shared* including all shares
of every publicly traded co. being tagged
and tracked and *delivered* b4 they can
be *re used* .. i look forward to every
publicly traded co. having to file but
not with the consequences of sox which
has crippled legit micro caps which then
created loopholes that could be exploited

i look forward to every poster who posts
on a SMB (please note the word stock) being
held accountable for what is posted including
having to disclose *compensation* regardless
of which side of the trade they are on ;-)

i look forward to having the answers known
re: the rumors of the PRIMARY MM on the OTC
taking a stake in SMB located overseas

if true the possibilities are mind boggling

and i can only hope those that illegally manipulate
a stock's pps regardless of who and how it's done
are dealt with accordingly .. it's little wonder
*retail* has any faith in anything the SEC has done

as i've said for years .. they are either complicit
(yep that would mean they aid/abet and collude)
or they are just damn incompetent ~ not a lot of
room for *in between* here .. *imo*

i can only hope the experiment of may 6th had some
unintended consequences of its own ~ and the SEC
can't pull the SOS it always does .. the image i've
had for at least 3 years now is that of an ostrich

--
4kids
all jmo

[janice shell]

What is *fractured* is the intelligence of the microcap investor. Most are easily conned and most are naive in believing what company officers say without ever using logic to refute their statements. The SEC and Congress can't fix intelligence (or lack thereof). All they can do is provide transparency and hope that investors look at it objectively instead of burying their head in *wishful thinking* investments.

Hear hear!!

[breezin_chs]

patchman, interesting discussion.

I agree that the SEC has finally woken up, although it took a near meltdown of the economy to force them to acknowledge the problems.

Today we have transparency on fails in settlement.

Today we have more reporting cycles for short interest data.

Today we have regulators who are taking enforcement action against those that continue to violate Reg SHO rules.

All true, but all relative. I wish you could devote some time to the loopholes, which are darned near invisible. Yes, we need Ed 101.

When the SEC recently approved new short selling restrictions (tepid, IMO), for ex., it stamped Does Not Apply to unlisted stocks; OTCBB and the Pinks. In your opinion, why? To be clear, as I read it, the over-the-counter market below refers to the OTC derivatives market, which nobody has a handle on, a frighteningly unregulated $45 trillion market.

http://www.sec.gov/news/press/2010/2010-26.htm
SEC Approves Short Selling Restrictions

The alternative uptick rule generally would apply to equity securities that are listed on a national securities exchange, whether traded on an exchange or in the over-the-counter market.

Per the new restrictions above, my opinion is that the SEC and FINRA simply don't have the tools to read the Pinks with any accuracy, which is why the SEC is finally getting out a consolidated microscope.

http://sec.gov/news/press/2010/2010-86.htm
SEC Proposes Consolidated Audit Trail System to Better Track Market Trades

May 26, 2010 — The Securities and Exchange Commission today proposed a new rule that would require the self-regulatory organizations (SROs) to establish a consolidated audit trail system that would enable regulators to track information related to trading orders received and executed across the securities markets.

In your opinion, are the loopholes below valid? Invalid?

the other nooks and crannies of the system - broker-level netting, pre-netting, Stock Borrow Program, ex-clearing and off-shore failures.

Has any financial gizmo replaced Reg S?

Until the Reg S loophole closed, companies were able to issue unlimited quantities of free trading shares to "foreign entities" who were exempt from registration. This allowed small companies to engage in highly toxic financings and led to many abuses in illegal short selling.

We haven't even gotten to the stock-loan issue, which is unreal, IMO.

Finally, a revealing comment in testimony before the SEC by Dennis Nixon, CEO of IBC:

On March 23rd, the day it hit a ten year low of $6.55, the stock traded over five million shares. Short volume rose by 891% to eleven million shares. Nixon said, “We’ve spent thirty years building this company, only to have it destroyed in 45 days.”

Nixon detailed the lengthy process that companies are required to go through to issue new shares, saying “I don’t understand why the long side of the market has such stringent regulations while the short side of the market is the wild, wild west.” Gesturing to the industry insiders on the panel, he added, “Why does this go on? Because these guys make a lot of money doing this.”