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Gold/Mining/Energy : Esprit Exploration Ltd.

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From: no1coalking	8/14/2008 10:41:51 AM
	of 2774

Shorts Hate EEE Because We Fight for Our Technology / These Guys are Market Manipulators: NIPC's Comment Letter to the SEC Recs: 3 If you want to read something scary ... read the footnotes (see an example below). The $140B is just the NYSE not the entire market. i.e., : 13 In Q1 2008, SIFMA reported that NYSE broker-dealers carried liabilities totaling over $140 billion USD in “Fails to Receive”. If 15c3-3 were enforced, these obligations would not exist. Rather these SIFMA broker-dealers would quickly go out and buy-in or otherwise obtain the “fails to receive” for their customers, as 15c3-3 requires. In addition, “fail to receive” are not even defined in securities laws, so their value can not be accurately determined. It can only be surmised that $140 billion in undelivered securities valued via market-to-market accounting would cost much more than $140 billion to buy-in and deliver. This systemic risk is the reason why 15c3-1,15c3-2and 15c3-3 were adopted. By not enforcing these rules and allowing brokerdealers to carry undefined securities on the books, the Commission is allowing the systemic risk to grow into trillion dollar proportions.

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