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Microcap & Penny Stocks : PanAmerican BanCorp (PABN)
PABN 0.000010000.0%Nov 28 9:30 AM EST
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To: Gordon Gekko who wrote (8723)7/26/1998 11:27:00 PM
From: Skeptical_Investor  Read Replies (1) of 43774
 
GEKKO,
"Reports from America say that the United States Securities and
Exchange Commission has begun an investigation into claims made by
a company called Pan American BanCorp. after the government of
Belize published a statement disassociating itself from the claims of the company."

"Reports from America" not "Reports from the SEC"...not "Reports From the Government of Belize"... on this webpage
bze.net
But, not on the original "release" on this webpage,
belize.gov.bz

Could someone know (think they know)of an investigation?
yes. If they were contacted by the SEC, or, as probable in this case they were given false information second hand about it. "Reports from America" is news reporting jargon for "I have no idea, but it sounds good" Then they can say, when asked who told them, that it's a "protected confidential source" and they don't have to tell. (when they were really trying to just ham up the article, and that's it)

I suspect with all the hub-bub that there is a SEC investigation going on... but I have no idea. The SEC No-Actions are listed in Nexis/Lexis. But that is after the investigation. After the fact.

Does the SEC have a rule of confidentiality concerning its investigations to protect the company and the investors?(in case they [the SEC] are wrong)

Yes.

So, ...Who Knows?
BTW the Reporters and the Politicians don't have to be directly dealing together to have the same political agenda. Obviously the media is skewed but they could be just 'skewing' themselves.
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