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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
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To: kknightmcc who wrote (2380)3/28/2007 1:53:13 PM
From: rrufff  Read Replies (1) of 5034
 
sec.gov

This is a must read - too long and PDF to post

Conclusion:
There is not direct response to this issue because the investing public, on both sides of this
argument, are forced to live with the total lack of transparency by the SEC and SRO’s relative to
market trading activities. The public’s concern however is the clear transparency of the Commission
staff working this issue and their objectivity at looking carefully at how these markets really trade.
James Brigagliano, the supervisor responsible for this reform and this latest delay, informed a group
of Hedge Fund Managers at a recent Managed Fund Association seminar that “The Securities and
Exchange Commission is stepping gingerly into the issue of short-selling abuse and is following a
"carefully honed approach" so that it does not impose too many restrictions on prime users of shortselling,
namely hedge funds.”
By all accounts Mr. Brigagliano’s role is not to insure that the fast moving hedge funds, for which Jim
Cramer claims are manipulating our markets, are provided all the luxuries of liquidity freedoms they
need in order make a profit. No, Mr. Brigagliano’s role is to insure that the public issuers and public
investors are fully protected from ALL market abuses that will impact investor confidence and
eventually the formation of these capital markets.
I ask that if the Commission plans on continuing with this ruse that the Commission addresses the
specific questions raised in this memo. How detailed an analysis did the Commission conduct and
what were those results?
In closing, my parting shot will come from former Hedge Fund Manager Jim Cramer who claims stock
manipulation is easy "because the SEC doesn't get it,” To date Cramer has proven to be 100%
accurate with his statements.

David Patch
www.investigatethesec.com
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