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To: snipper who wrote (29653)	3/23/1999 9:30:00 AM
From: Observer	Respond to of 43774

Senate subcommitee hears of Net fraud By Maria Seminerio 03/22/99 06:11:00 PM ZDNet Related Stories 33 SEC alleges fraudulent trading of Shopping.com stock SEC charges 44 with Net fraud Webcast Senate hearings drawing attention to online securities fraud. They were neither green investors, nor Internet newbies. But an electrical engineer and a computer company executive told a Senate hearing Monday they had each lost thousands of dollars to online investment scam artists. 'Some people seem to believe that if they see something on the Internet it must be true' -- Sen. Susan Collins The two-day hearing before the Senate Governmental Affairs Committee's Investigations Subcommittee, set to conclude Tuesday, was called to draw attention to the increasing problem of online securities fraud, said the subcommittee's chair, Sen. Susan Collins, R-Maine. "Securities fraud has moved from the boiler rooms of yesterday to the chat rooms of today," Collins said at the commencement of the hearing, which was broadcast live on the Governmental Affairs Committee Web site. While lawmakers are grappling with ways to keep investors from getting scammed, Collins added that the Senate is not out to "kill the messenger." 'False sense of security' With more than three million Americans trading online now, and 14 million expected to do so by 2001, the generally positive economic trend toward online investment could create setbacks for some investors, she said. "The Internet often gives some consumers a false sense of security, credibility and control regarding their investments," Collins said. "Some people seem to believe that if they see something on the Internet it must be true." But that wasn't the case for the two online fraud victims who testified Monday. Both took steps to verify basic background information about their investments before plunging in.

To: snipper who wrote (29653)	3/23/1999 1:07:00 PM
From: dirtroad	Read Replies (4) \| Respond to of 43774

In answer to your question, the following must be stated: Jhild will just moan and groan until we give him permission to progressively narrow the sphere of human freedom. For your edification, I should unequivocally point out that Jhild's spokesmen are an amalgamation of brutish imbeciles, impudent underachievers, and other pugnacious lowbrows. There is an obvious inconsistency here. He wants to spawn delusions of instability. Is this so he can replicate the most asinine structures of contemporary life, or is it to make his wisecracks a key dynamic in modern plagiarism by viscerally defining "piezocrystallization" through the experience of obdurate incendiarism? You be the judge. In either case, he has gone way too far with his no-compromise attitude. I hope this has served to clear the air. Next question?