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

To: Mark Fowler who wrote (137164)	1/16/2002 10:31:51 PM
From: KeepItSimple	Read Replies (1) \| Respond to of 164684

Pretty soon every single publicly listed company will be reporting pro-forma earnings. And they will continue doing it until the public or the SEC stops letting them get away with it. As far as the public ever getting a clue, I give that ZERO chance. They couldnt read an income statement if their lives depended on it. The SEC is another matter. They should have nipped this in the bud when Amazon blazed the trail for fraudulent and misleading accounting practices. But they haven't- and it has something to do with the fact that when people "retire" from the SEC, they ALWAYS go into the private sector, most often with large investment banks as figureheads with fat salaries designed to lend an image of respectability. Today's slap on the wrist to donald trump's company is a fucking joke. I noticed today they also busted a guy in california who pumped worthless stocks on his message board and made 4 million bucks. The biggest claim by the SEC? That the guy made "unrealistic" price targets for stocks that he already owned shares in. HELLO? MCFLY? Anyone remember qualcomm $1000 or amazon $400 price targets? Every broker on earth was playing the game in 1999 and 2000. Why doesn't the SEC look at them? Simple- the SEC employees are bought and paid for by the promise of $200k yearly salaries for sitting on the board of investment banks as soon as they leave the public sector. This is the #1 reason that all this bullshit is allowed to continue. The SEC is utterly corrupt and impotent. Until someone cleans house there and passes a law restricting such "post-SEC jobs" there will never be any substantive action taken by the SEC, period. Until that happens, the only thing the SEC will ever do is prosecute 14 year old kids who are pumping stocks. Because those 14 year old kids can't afford to put them on the take. What a country.