Casavant Mining Kimberlite International (CMKM) Message Board

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Gold/Mining/Energy : Casavant Mining Kimberlite International (CMKM)

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To: StockDung who wrote (2142)	6/10/2006 11:15:35 PM
From: rrufff	of 2595

You'll note that Joe Nocera didn't give an ounce of evidence that NSS does NOT exist nor did he indicate that anything should be done. It was basically a hatchet job. "I don't agree and Byrne's a nut." It's kind of like saying, "A little scamming is ok. After all, it doesn't affect ME and Byrne should just forget about it or I'll keep writing these stories trying to make him look crazy." What I often post is that this stuff isn't really rocket science. The answers are verifiable. Why don't trades settle? What is the scope of the problem? The lost certificate, the death of a shareholder, as the DTCC claims, does not justify the number of fails. There is no justification for a stock staying on the Reg Sho list for a year, other than to admit that there are loopholes and manipulation. The answers are there. The information should not be hidden. Let's see how bad the problem is. Let's eliminate the grandfathering of fails. It only protects the industry. Bring registration and regulation that is effective to the hedge fund industry. Change the role of MM's and bring our markets into the 21st century. Require full disclosure, full filing in advance on Edgar for at least 7 days before promoters, insiders, vulture funds, hedge funds and associated traders can dump shares on the market. If all this is done, then no more will scammy companies have the excuse that NSS is the reason for their problems because NSS will not exist. Toxic deals will not be done and foisted on the public. Scammy companies will not go public. There will be less incentive for touts who do nothing but create paper. There is a difference between "scammy" and "speculative" which many nay-sayers do not seem to grasp. I prefer the equation to read: Speculative + full disclosure = known risk. What we have now is hype + hidden details = scam. The companies like Overstock and Vonage have legitimate complaints if they are being shorted in a manipulative fashion. Why would anyone oppose the elimination of loopholes that foster this scenario? We all should be in favor. Then Vonage and Overstock would be valued based on performance and, yes, there are some very severe arguments pro and con with respect to the performance of both companies.

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