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

To: Jeffrey S. Mitchell who wrote (7222)	2/9/2005 9:41:58 AM
From: jbIII	Read Replies (1) \| Respond to of 12465

It appears he's from Vegas ( found on RB , no link) Dow Jones Says Short Sale Ad in Washington Post Draws ‘No Comment’ From SEC / FinancialWire® February 9, 2005 (FinancialWire) The full-page ad placed in the Washington Post (NYSE: WPO) by opponents of illegal “naked” short sales, and reported in FinancialWire yesterday, has begun to attract the attention of other media, including the Dow Jones (NYSE: DJ) newswires, which said the SEC “declined to comment.” Dow Jones Reporter Judith Burns pointed out that the ad, a letter to President George W. Bush and other government officials, calls into question the President’s “campaign for personal Social Security accounts.” She said the ad, from the Nationial Coalition Against Naked Shorting, was financed via online fund-raising by 44-year-old Robert O’Brien, a retired entrepreneur living in Las Vegas, and who was drawn into the controversy dubbed “Stockgate,” by trading abuses in NovaStar Financial Inc. (NYSE: NFI). The ad is posted at investrendinformation.com The National Coalition Against Naked Shorting said unchecked short-sales abuses have inflicted serious damage on numerous companies and investors, and "until the illegal abuses in the markets are corrected, private investments in Social Security can hardly be considered secure or justifiable,” according to the DJ Newswires. "These are angry people," O'Brien told Burns in a telephone interview. "They don't feel like anyone is listening." She noted that short selling, “which is legal, involves sales of borrowed stock, and produces profits for the sellers when stock prices decline. So-called ‘naked’ short selling occurs when the sellers do not have the shares to sell and have no intention of getting them.” "Passing rules is great," O’Brien told Burns. "Enforcing rules is better."