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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: StockDung who wrote (96822)11/28/2006 10:14:36 AM
From: Patchie  Read Replies (3) of 122087
 
My opinion:

1. No CMKX will not bring down the entire financial system.
2. CMKX was a scam from both sides. The Company management unloaded tons of shares into the market in a scheme to defraud and the shear volumes and volume of interested investors allowed Wall Street to do the same without settlement. Both are guilty as sin and should pay equally.

As to how big a problem the share issue is, I can only ask why firms like Ameritrade continue to refuse to make cert delivery to shareholders on a stock that is de-listed and requested delivery by shareholders.

Now, who else is culpable? The regulators. They actually sat back and watched it all happen. The NASD is going after Nev West but that is smoke and mirrors because Nev West was communicating directly with the SEC each and every time the shares were being brought in for sale. The SEC telling Nev west to go ahead and sell them. Now the SEC doesn't have the courage to step up and say they screwed up and could have shut this down much earlier with a smaller victim base.

As for Mark's book, I wouldn't be dismissing it so quickly. I think the story Mark comes up with may surprise you when he identifies who the bad guys really are.
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