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Pastimes : Investment Chat Board Lawsuits -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey S. Mitchell who wrote (7195)	2/5/2005 8:47:42 AM
From: rrufff	Read Replies (1) \| Respond to of 12465

Jeff, I don't disagree with most of your post. However, the conclusion represents your bias. That's not a bad thing, but please recognize it. Personally, I believe that the naked shorting scams are harder to ferret out because 1) shorts by nature are generally better prepared - (a compliment LOL) and, therefore, the crooks, make better crooks. Look at all the posters who thought that Anthony would get off. 2) naked short scams are hidden better because of connections with legitimate or supposedly legitimate hedge funds, MM's, brokers and financial institutions. 3) Much are offshore operations, that make it very difficult for one country to get everything it needs to stop it. Remember the 100's of posts about Lebanon and offshore transfers. That seemed the weakest part of the case and very little developed from it. There was lots of speculation between the pro and anti Pugs crowd, but apparently very little evidence. If this were a US transfer, then there would be more evidence and less speculation. I don't disagree about all the scam types you mention. I believe that much is inter-related. I would hope that there is more investigation, rather than less, in this area. I believe that as more is discovered with respect to those who are involved, the connections to vulture funding, crooked ceo's, MM's excesses, etc., will all be more likely to be discovered. Finally, mechanisms to provide for cooperation between nations is essential as trading in our markets will within 5 years be fully world wide, if they are not almost there now. The scamsters know where to run and set up their sleazy organizations. If they are trained in shorting techniques, they do what comes naturally. We need international cooperation to shut them down.