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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
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To: kknightmcc who wrote (3865)9/30/2008 9:09:49 AM
From: rrufff2 Recommendations   of 5034
 
I agree in general but I do feel that the "all or nothing" approach is a basic problem in our world today. Our politicians have to be "right." Instead, they should realize that compromise and common sense create a greater good than ideological obstinance.

I've outlined the start of some common sense approaches and strongly believe that the average individual, working with others, can come up with better solutions than government and private "leaders" who have incentive to be "right" and use that to bloat their own advantages.

As for Sarbanes-Oxley, there is a lot of good underlying the law. The problem is that it was also an "all or none" approach that basically created another layer of CYA red tape laden auditors. Management and the auditors can pretty much cover their posteriors with magic words and a fast shuffle around systems. It doesn't lessen fraud.

I believe that limits on corporate and management pay, along with strong enforcement of both law and fiduciary principles would have done better in protecting retail investors.

As for "mark to market," it is intended to help disclosure but, again, takes an "all or none" approach. It should be less formal, less debit-credit accounting, and more common sense.

Simple - works.
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