PLNI - Game Over Message Board

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Microcap & Penny Stocks : PLNI - Game Over

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To: inchingup who wrote (6713)	9/12/2006 7:23:59 PM
From: scion	Read Replies (1) of 12518

I don't think the SEC does a good enough job on anything except major, high profile frauds. Even then they're a toothless tiger, and fines are often not collected because the crooks claim they're penniless and the disgorgements don't happen. If they can't police the penny stock scams effectively it's partly because they don't enforce existing rules strongly enough. Add to that the inability to prosecute without the involvement of the DoJ and you have an agency without any real power to stop frauds before the inexperienced investors get ripped off. The SEC is the agency that bolts the stable door after the horses have bolted. Another often cited excuse is lack of manpower to uncover - so why not contract that job out to an independent company instead of offering "bounties" that never get awarded. do you actually believe that anyone at the SEC really cares about fraudulent little companies? Good reading - ragingbull.quote.com

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