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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (35603)11/9/1998 2:04:00 PM
From: Ilaine  Read Replies (1) of 132070
 
>>>>>Right now, new securities are being created at a record rate. When suckers are biting, the scamsters issue stock.<<<<<

Hi Mike, I have been wondering about this. Washington Post today had an article about hard times at Oncor, one of the multitude of biotech start-ups along Route 270 in Maryland, now trading OTC as a "penny stock," after losing money for fifteen years!!!???? It is said that Harvard got stuck with millions in worthless stock. I don't understand the concept of publicly offering stock in a company that has a promising process but is years from offering said product for sale (if ever). What gives?

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