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janice shell

10/20/11 10:23 PM

#16940 RE: Renee #16939

Yes. Obviously they're concerned about that.

Which is why they MUST make TAs file opinion letters on Edgar. That would probably solve the immediate problem. I don't think many lawyers would willingly write fraudulent letters knowing they'd be publicly available. Even the issuers might hesitate to request them.

But as they all said, you close one loophole, and they'll try to find another.