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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
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To: rrufff who wrote (3574)7/19/2008 2:17:16 PM
From: rrufff   of 5034
 
Take a look at this part of the previously cited article about Gary Aguirre

Lack of effective oversight, he says, has resulted in a set of financial conditions that are uncomfortably similar to those that precipitated the 1929 stock market crash—rampant corruption and an uncontrolled, unregulated market. Aguirre points out that the hedge-fund market, outside the purview of the SEC, now controls trillions of dollars and will soon be as powerful as the regulated market. The recent government bailout of Bear Stearns is writing on the wall, he says.

“You and me, we are now underwriting the cowboy speculation of Wall Street,” he says. “The financial markets have been operating like a casino, at a magnitude that makes Las Vegas look like a miniature-golf game. Gigantic gambling going on, in the trillions of dollars. If we have a Bear Stearns style of meltdown at a JPMorgan . . . there won’t be enough money to bail them out.

One of the hypocritical crusaders recently compared some of this piece to the conviction of someone for extortion and use of purloined FBI data with some type of irrational justification thrown in.

It amazes me that these characters just "don't get it." There's plenty of scamming out there in the market and it's not just on one side of the market. It doesn't take vigilantism or getting rich shorting manipulatively under the phoney justification of doing something for society. It involves effective and efficient regulation and providing equal access to markets and information for all of us.

To those self-styled "cybersleupps," it's time to get off the "our scam is ok, everyone else's is not," bus.
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