Naked Shorting-Hedge Fund & Market Maker manipulation? Message Board

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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?

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From: ravenseye	5/16/2007 12:13:04 PM
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Friday, May 11, 2007 Rep. Frank planning hearings on accusations against SEC By Jesse Westbrook BLOOMBERG NEWS U.S. House Financial Services Committee Chairman Barney Frank said his panel will hold a hearing next month to scrutinize the Securities and Exchange Commission, in response to criticism that SEC policies are increasingly favoring companies over investors.... telegram.com ...The Government Accountability Office, Congress’s investigative arm, initiated a broad investigation of the SEC’s enforcement practices in October. The probe, requested by Iowa Republican Senator Charles Grassley, was started after former SEC lawyer Gary Aguirre said his superiors wouldn’t let him pursue an insider-trading probe at hedge fund Pequot Capital Management. Aguirre’s attempts to investigate Pequot preceded Cox’s tenure as chairman.... ...Next month’s hearing may serve as a reminder to the SEC that some lawmakers don’t like the agency’s recent decisions, said Nell Minow, editor of the Corporate Library, a corporate governance research firm in Portland, Maine. “The primary weapon that Congress has in a situation like this is public humiliation,” said Minow. “Congress is very good at reminding the independent agencies that they control their budget and have the ability to make legislative changes.”

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