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Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes -- Ignore unavailable to you. Want to Upgrade?

To: Wayne Rumball who wrote (16513)	5/11/1998 3:24:00 PM
From: John Mansfield	Read Replies (1) \| Respond to of 34592

Post to all - SEC Chairman Arthur Levitt ' Monday, May 11, 1998; Page F10 Arthur Levitt, the chairman of the Securities and Exchange Commission, recently sat down with a group of Washington Post editors and reporters to talk about the bull market, Internet investing and banking mergers. Here is an edited transcript of that conversation. .... <SNIP> 'Can you talk a little bit about the challenges facing enforcement, given the technology boom involving the Internet? 'Well, the fact that it is out there is the other side of it. It is there for people to see and we've got people watching it, and people reporting to us. Our program of investor education has been enormously helpful to the extent to which nearly 30 percent of our enforcement cases are now coming from investor referrals. We intend to use the Internet as a tool to inform investors, to warn investors, to post major scams that are out there. If I had a choice, in terms of balancing the enormous damage that the Internet can do in terms of hucksterism and the enormous good that it can do in terms of educating investors and enabling companies to do a better job, the decision would be an easy one. I think the Internet will be a very powerful, positive force. Technologically, we're not there, and that is going to be one of the major thrusts of our new emphasis on technology -- ways of monitoring the Internet in terms of fraud, ways of answering questions that we are unable to answer at this point in time and providing certain kinds of information to individuals who are able to understand it and use it effectively and keep it from others who may not be able to use it effectively, and responding to those who have no computer literacy whatsoever, and a host of other concerns. But, we are bringing more Internet cases than we have before, and I think that's understandable, but the Internet will be a major focal point of our movement toward greater technological ability. ... washingtonpost.com