Kevin, you seem to need to go through posts and nitpick. I was jokingly going to quote the definition for anal, but I knew you'd take it the wrong way. <gg> You insist on putting words in my mouth and then object when I respond, claiming I am using too broad a brush. Perhaps you should practice what you preach.
My posts are not inconsistent. I see a value to relatively unregulated entities such as hedge funds. However, IF they are going to get involved in manipulation, particularly where they have grown to such a degree, as measured by wealth and percentage of trades, then they need to be wrapped in regulation. Repeating my prior post, I don't mean just the paper pushing type of regulation. (E.g.,Sorbanes Oxley, where there was good intent but has really been just the auditors' dream job.)
Their books need to be open. Relationships and transactional trails and sources of information in and out need to be available for law enforcement or the SEC. If, and I say if, they are involved in 10(b)-5 or manipulation per other regs and code sections, there must be a way to track this down.
If hedgies are manipulating through overseas transactions, the mechanisms need to be put into place, through law and treaty, to track down manipulators. If there are relationships between hedgies, brokers and/or MM's that go over the line, there must be methods to trace this corruption.
Now, back to your obsession with Byrne. He is not the first person I'd pick as a spokesman. Would you pick Asenio or Tex Mex Tokyo Joe or whatever his name is/was, or even Anthony as a spokesman for shorts? My guess is that they would not be your first choice but they would bring attention to the issue. I'm delighted that the light is being turned on so that perhaps the public and politicians can get involved.
I'm willing to say that the whole thing could turn out to be the tempest in the teapot and, as many here claim, hedgies are just wonderful human beings, here for the good of their investors, playing by the rules, who need no regulation.
However, I am very pleased that Byrne, with his unique style, has created some excitement. Look at the number of posts on this fairly dormant board. IMO, hedgies don't want their business discussed, except in a promotional setting. This helps get them out of the shadows and I thank you for assisting. <ggg>
As for Rocker's countersuit, they had no choice. They are in court and every defense needs a countersuit. You must know that. You throw everything in, subject to Rule 11 and even the latter is often ignored by big time counsel. I suspect that the Rocker boys are very sweaty over the publicity they are receiving. Byrne doesn't care. He's got that type of personality that seems to love publicity and thinks that none of it is bad. (Not my cup of tea but like I said, good for bringing a fairly obtuse set of issues into the public's view.)
Now go find some more posts to nit pick. This is fun. |
