Dave: "This man goes so far as to claim that the regulating of the market is best served by short sellers who are motivated by profits to uncover scams, frauds, etc...!"
That claim is 100% true. See if you can name a single fraud or scam that the short sellers weren't all over first. It isn't easy work uncovering fraud, since the crooks all have accountants, lawyers, financial PR guys, and lazy reporters on their side. Like anything else, few would do it unless paid. Being short and being right is a way of getting paid.
Sure, the shorts make mistakes, and when they do, financially they get carried off on stretchers.
Solv-Ex's problems are not the fault of short sellers. The company raised a huge amount of money, enough to accomplish its goals, were the goals in fact achievable and the money well spent. Either the money wasn't well spent, or it was well spent, but the so called technology has no merit.
Neither possibility entitles the company to a blank check for infinite amounts of additional capital. Other companies, with better ideas and/or better management, could use that money too, you know. |
