Hello Mr. Owl,
Thanks for the comments.
From where I perch... Elgindy isn't much worse than anyone else. True, he has no respect for rules or laws, but then respect for the SEC and its list of "do's and dont's" is pretty hard to find any where these days. As best I can tell Elgindy's principle problem seems to be a complete lack of empathy regarding anyone or anything else.
That seems to pretty much cover it. Those whom he attacked and wound up in similar environments to that in which he currently finds himself, were given little "empathy" and were in fact ridiculed, even post mortem.
I would be very surprised if this were not a problem to one degree or another for at least 98% of humanity. Most people want traffic laws enforced against every one... yet most people also disregard those laws to some extent and hope to avoid being caught. There's reason to believe that the same is true in every other area of the law.
I'd have to disagree here to some extent although having a long time affection for speed on the highways, I pause in response.
ah pause-------
I think most of us want fair laws, easily understood, based on common sense and then fairly enforced. I don't see much need for a 55 mph limit on highways where most are going 70-75. Yet, if studies show lives and fuel are saved with 65 mph, I'd probably adhere to it. With technology and refinement and with a willingness to pay for a high speed lane, or a post midnight "autobahn" type existence, the populace might be convinced to live by fair laws.
What I'm saying is that it takes a bit more effort to "do it right" rather than "good enough for government work."
Getting into the securities area and more on-topic, I've often written that the focus should be to start from scratch and do a "common sense" approach. No longer should there be a war between those favoring one scam viewpoint or another. Common sense should prevail. We have the technology to have efficient and fair viewing of information, access to markets, trading, etc.
There is no need for vested interests to control the market these days nor for vigilantes to scam others under the guise of outing scams.
MM function can be service oriented, technology can supplant windfall profits, but it takes some effort.
Before insiders and management can flood with stock, let them be required to put up a notice on Edgar IN ADVANCE. The price will drop no doubt but in advance rather than giving them an unfair edge.
No need to favor shorts over legit shareholders. Markets are there for capital formation and enterprise growth.
If it were up to me I believe I'd let him go... But I'd probably neuter him first... and everybody else in his line of capable of making babies.
Letting go isn't really the issue. Will he be permitted to do what he did before? Will he play the game that he who has the power to stomp on others just goes ahead and does it? And then, ironically, when he falls victim to a greater power, complains about the rules of the game? I don't revel in the punishment. Let others worry about the ramifications of a new trial. I'd prefer to prevent the abuse that occurred and which apparently is not recognized by the "legion of thieves" to use another's terminology. |
