Did the DTC try to kill the stockgate story???? Read on
The DTCC, which is run under the joint authority of the New York Stock Exchange and NASD, both government-sponsored SROs, may even have run afoul of serious laws against interference with the press, according to attorney Marshal Shichtman, Esq., who is investigating the organization's purported collusion with Investors Business Daily in an attempt to censor or squelch further distribution of FinancialWire.
This comes hard on the heels of an ad in the New York Times (NYSE: NYT) from The Washington Legal Foundation, located at wlf.org, which has considerable clout in the Bush administration, with ten of its board members now serving in various capacities, including three, headed by U.S. Attorney General John Ashcroft, in the Bush cabinet. Its "In All Fairness" advertorial, "What's Up With The SEC?" may be seen at wlf.org
The advertorial alleges that class action lawyers are colluding with short sellers "right under the noses of SEC investigators," whose abuses cause "investors, employees, pensioners and companies" to "lose millions of dollars in stock value each year."
The WLF said that the SEC has been "sitting on several complaints of misconduct" that it and the U.S. Chamber of Commerce have filed that detail "examples of questionable stock manipulation by short sellers and class action attorneys."
The group says that the SEC is "looking the other way while class action attorneys enjoy a free-for-all, reaping millions in windfall fees to the detriment of shareholders," and asks "why isn't the SEC taking legal and regulatory action to prevent stock manipulation and to protect investors from the looting by plaintiffs' lawyers? Shouldn't there be rules and oversight to deter these trial lawyer abuses?"
It concludes that "the SEC must show America that it can get tough with more sinister villains thatn Martha Stewart."
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