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To: Babe' Boua who wrote (4131)	1/27/2003 4:38:27 PM
From: marcos	Respond to of 12465

SEC Seeks New Powers Against Law Breakers Monday January 27, 3:58 pm ET WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission, seeking more power to collect fines and ill-gotten gains from corporate lawbreakers, said on Monday it wants to be able to override state laws against home repossession and to hire private collection attorneys. In a report to Congress, the SEC said it was already channeling fine revenues into new restitution funds for cheated investors set up by the Sarbanes-Oxley Act passed in July amid scandals at Enron Corp. and elsewhere. Sarbanes-Oxley also asked the SEC to recommend ways Congress could further help the agency do better at collecting fines and disgorgement orders it issues and at getting money back to stockholders victimized in securities fraud cases. "Returning funds to investors is an important commission objective," the market-regulating SEC reported. "Nevertheless, there continue to exist several practical and legal obstacles to providing compensation to injured investors." Targeting homestead laws in Florida and Texas that let the rich shelter assets in huge mansions, the SEC asked for "new legislation to exclude securities cases from state law property exemptions, such as homestead exemptions." The SEC also said in its report: "We recommend new legislation granting express authority to the commission to contract with private collection attorneys." Last July, the investigative arm of Congress concluded that weak internal controls were hampering the SEC's ability to collect ill-gotten gains from corporate wrong-doers. The General Accounting Office faulted the SEC's systems for collecting on disgorgement orders it issues to force corporate executives guilty of wrongdoing to cough up their fortunes. The SEC collected only 14 percent of the $3.1 billion it ordered disgorged from 1995 to Nov. 16, 2001, GAO found. Of that total, 29 percent of disgorgements were waived, or allowed to go uncollected, while the remainder was never brought in, often because the money, or the guilty, were gone. ' ca.us.biz.yahoo.com We all know to whom this applies, don't we .... regardless of whatever pitiful spin you try to put on it .... heh heh ... got to love karma ... may it grow up one day to be truckma

To: Babe' Boua who wrote (4131)	1/27/2003 6:56:42 PM
From: John Sladek	Read Replies (3) \| Respond to of 12465

Babe, If you continue to pick winners like medinah, then get used to it. I beg Regardin the rest of my post: I. If my concern were damage control, then why am I posting here on a rather obscure thread on SI, rather than on the Medinah thread? I mean really, for damage control to be effective, doesn't someone have to actually read it? II. Furthernore, WLD made his statements publically on this thread, he was misquoted somewhere else, publically. Somehow you think that I should be talking about this in private? III. Notwithstanding, when I think of this board, I think of people like Jeff Mitchell, dantecrisco, Mighty_Mezz, WLD, The Truthseeker and many others who have made this thread one of the most informative and interesting on SI. For some strange reason, when I think of this thread, I don't think of you. IV. Furthermore, I think that you are dead wrong in your interpretatinon of WLD's post. Obviously, his statement was not intended to indicate that he is a criminal as your cheap smear implies. You have been corrected on this matter several times but you foolishly persist. You should probably cease and desist if you want to maintain whatever thread of credibility you have left on this thread. I think that any reasonable jury would agree with my interpretation over yours.