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Pastimes : Investment Chat Board Lawsuits
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To: Geoff Altman who wrote (7691)3/29/2005 2:44:55 PM
From: Jeffrey S. Mitchell  Read Replies (2) of 12465
 
The problem is that there are myriad of problems with Wall Street. What about the CEOs who use their companies as private banks? What about the investment bankers who make a killing on stacked IPOs? What about the analysts who pump up stocks in public that they deride in private? What about the accounting firms who placate wealthy companies by allowing questionable accounting techniques? What about mutual funds that charge excessive fees? How is it fair that a company be allowed to sell their shares publicly without timely and accurate filings? What about all those recidivist scam stock promoters and insiders who never seem to face justice? I'm sure you can name many more examples-- examples that have real-world smoking gun, prosecuted and found guilty proof they exist. Why isn't there a cry for a Congressional investigation on these things? Surely we've only seen the tip of the iceberg?!

The great thing about the freedom of speech here in America, especially post the modern Internet, is that individuals have the ability to try to compete with large corporations for mindshare. I give the anti naked shorting crowd high marks for their attempt to bring their cause célèbre front and center. But as evidenced above, ultimately we need to be rational and think about priority. If anyone truly feels naked shorting should be given priority, the best thing they can possibly do is distance themselves from the NCANs.nets of the world and provide some real evidence for a change. Let's see if the upcoming Dateline show does just that. But I severely doubt it.

- Jeff
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