Kerry,
Follow up from Janice's favorite reporter:
otcnn.com
SEC Strikes Back, But FIRE Counters, Carries On
By Jack Burney
Published by OTCNN.com
08/18/2000 08:09 AM CST
Hit by a flood of e-mail to their personal e-mail addresses, the Securities Exchange Commission’ Arthur Levitt, CEO, and Annette Nazareth, Markets Regulations Director, put blocks on e-mail from members of FIRE, an organization of “fed-up” investors, but FIRE countered with block-circumventing instructions and a letter from its leader proposing a “constructive dialogue.”
Mitch Levy, leader of the Federation for Investment Reform and Equality (FIRE), after reports that their e-mails to SEC were being “kicked back,” e-mailed members:
“Let's start e-mailing the letter out as an attachment.
“After round one, they may be using a software program to filter out our e-mails by looking for specific lines of text. They can't do that with an attachment. If you can't do that (use an attachment), change the text in the subject line and maybe that'll work. Let's keep the heat on! They're getting thousands of these e-mails.”
Levy still can’t give an accurate count of letters sent in the FIRE campaign.
“I've had hundreds of people, and possibly more, who of their own volition cc'd me when they sent out their letters,” said Levy. “If I didn't continually remove them from the system, I'd have gone over the limit.
“It’s impossible for me to garner an accurate accounting of participants. We're currently having a Web site designed and this will alleviate the current lack of capacity that I'm dealing with, which in turn should also allow me to get a better feel for our membership.
“In addition, I'm trying to implement another e-mail system to supplement the current one. There will still be a lot of participants who are part of investment groups that I won't know of directly.
“I don't know of any reactions from Mr. Levitt or Ms. Nazareth as we intentionally didn't give them a way to respond. This first campaign was meant to be a wake up call and introduction of our organization.”
Levy has sent the following message to Levitt:
“Mr. Levitt,
“My name is Mitch Levy. I am the person responsible for creating and leading the "Federation for Investment Reform and Equality" whose e-mails both you and Ms. Nazareth have been receiving en masse this week. I would like to open a direct line of communication with you for the purpose of beginning meaningful discussions regarding the reforms that we, the small individual investors, want to see enacted in the markets and exchanges to ensure a level playing field for all.
“I look forward to developing a constructive dialogue and relationship that bridges the enormous gap between the small investor and the SEC. It is my sincere desire to work together as one in this long overdue task.
“Please feel free to contact me via e-mail or phone me…
“Respectfully,
Mitch Levy
Federation for Investment Reform and Equality”
Levy and company aren’t holding their breath.
“Unless I hear from the SEC before Tuesday with a means to discuss our issues with someone of authority, the next stage of our campaign will begin,” Levy told OTC News Network. “It will be another mass effort, with a new wrinkle, that will list our points of contention that we want presented for public comment.”
Levy said he would release the list Tuesday. He wants to be sure that the content isn't revealed until FIRE members can simultaneously receive it.
“We're now beginning a push for national media attention,” I'll soon be asking all of our members to contact their local media around the world to make them aware of our organization and the need for their coverage. What we do in the week of 8/28-9/1 will be dependent on the SEC and their response or what I'm anticipating to be a lack thereof.
“I still don't think they realize just how much power we will wield in the near future. Soon our number of voting members will be a force to be reckoned with. I'd say the campaign is progressing as expected.”
Regards,
John Sladek |
