Naked Shorting-Hedge Fund & Market Maker manipulation? Message Board

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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?

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From: basserdan	10/12/2008 11:09:04 AM
	1 Recommendation of 5034

The SEC's unfair disclosure: hiding its Bear blindness Loren Steffy October 07, 2008 One of the more pervasive questions in the entire financial meltdown is how the Securities and Exchange Commission could not have spotted the problems brewing at Bear Stearns. tinyurl.com Just days before the firm's collapse, SEC Chairman Christopher "Keystone" Cox, who's been a friend of Wall Street and the scourge of investors, deemed it sound. A report by the SEC's inspector general found that Bear had failed to properly account for default risk in modeling its investment in mortgage securities. But now, as Bloomberg News reports, a different picture tinyurl.com emerges from an unedited version tinyurl.com of the IG's report. It seems that 136 references to the SEC's ineptitude were deleted, at the commission's request, from the version of the report tinyurl.com that the SEC released in late September. The unedited version was requested by Sen. Charles Grassley, R-Iowa. It shows that the SEC's regulators "stood by as shrinking capital ratios and growing subprime holdings led to the collapse" of Bear, Bloomberg reported. According to a statement from Grassley: People can judge for themselves, but it sure looks like the SEC didn't want the public to know about the red flags it apparently ignored in allowing Bear Stearns and other investment banks to engage in excessively risky behavior. That would be about typical for the SEC under Cox. As I've been saying for a while tinyurl.com , and as John McCain said in the last presidential debate, this guy needs to go. Posted by Loren at October 7, 2008 05:45 PM blogs.chron.com

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