Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: H James Morris who wrote (124876)	5/10/2001 12:54:03 PM
From: Glenn D. Rudolph	Read Replies (3) \| Respond to of 164684

"WASHINGTON, May 9 (Reuters) - About two dozen securities firms have agreed to pay roughly $4.5 million to settle charges they defrauded municipalities nationwide through so-called "yield-burning" practices, lawyers said on Wednesday. Dwight Brock, clerk of the Circuit Court of Collier County, Florida, who brought the groundbreaking 1998 class action suit against the 25 brokerages, welcomed the preliminary settlement approval by Judge John Steel of the U.S. District Court for the Middle District of Florida this week. Thomas Grady of Florida-based Grady and Associates, who represented Brock, told Reuters none of the 25 brokerages admitted wrongdoing in settling claims that they charged inflated prices for U.S. Treasury securities which localities nationwide bought to help refinance more expensive debt. The high prices "burn" down the yield to comply with tax regulations. " When are we going to start getting criminal charges? The sluts make enough money the fine does not matter but locking up management might make them think twice. Maybe the sluts could first to a secondary for some firms that handle private prisons so we can handle the extra criminals.

To: H James Morris who wrote (124876)	5/11/2001 7:55:33 AM
From: Victor Lazlo	Read Replies (2) \| Respond to of 164684

<<Victor, the sluts get fined again. This time for screwing the tax payers.>> I'm sure the entire Fed govt could be paid for with fines like these, and all of us would not have to pay any taxes, if only the SEC and other agencies woud try harder.... :-) <<Btw You must be glad go out of RMBS, just like I feel about getting out of B2B close to the top of the bubble.;-) >> You've got that right HJ! I did consider getting back into RMBS a couple of times, but their earnings reports just were't impressive enough for me, or for other investors either, aparrently. Victor