SEC Watchdog Website -

Discussion in 'Wall St. News' started by wilburbear, Apr 14, 2007.


    Their main topic is naked short selling, but they have great links to SEC documents that are misleading, or obviously inadequate responses to regulatory matters. Members of Congress even receive some of these inadequate replies.

    Speaking of Congress, Barney Frank will hold the SEC's purse strings as Chairman of the House Committee on Financial Services. Can anyone obtain his direct email?

    I've spoken to him personally. He's not a very nice man at all, and complained he had no power. Well, now he does. Let's see if he does the right thing.

    All these guys know the score. They artfully dodge us because as PBS pointed out last night, 2/3 of the contributions to politicians from hedgies go Democratic.

    That's good though, because when all the pensions are gone, it'll take the Dems to drain the Treasury to bail everybody out.

    By the way, documents have leaked from within the SEC. If anyone should have a business or government document that should be leaked, for the good of the public, please investigate the link given above.
  4. nothing has been leaked from the SEC that I know of. The Eagletech case is made from documents obtained thru discovery.

    Do you know of leaked stuff?
  5. that's from 2003. you're better to look at the Eagletech lawsuit. That's good stuff. The reporters should start putting that out this week or next. Lots of groundwork to come out about that story.
  6. ak15


    "Moreover, it found that specialists routinely discriminated against orders from brokerage firms that catered to day traders."

    This phrase says it all. However it should have been worded as follows "specialists and Nasdaq MarketMakers routinely........."
  7. and what did they DO about it. The idea that people in the industry steal on a daily basis is old, old news. Here is the real news, and it is one Patrick Byrne has been telling for 2 years.

    The Regulators let them. That is your problem. The regulators let them.

    In the Eagletech thing, they found "we have instance after instanced of SEC investigations starting, and abruptly stopping. Why"?

    Simple. Go look at PBS, Gary Aguirre. When they get to someone influential, they stop. Take the Goldman Sachs naked shorting, mismarked longs, what every you want to call it. They were fined just 2mm for something very harmful. But they made a fortune. Do you not think the CEO, if it was Corzine or Paulson at the time I can't remember, do you not think he knew??? And what did he do? If you owned an office, and that guy was one of your brokers, he goes down, and you go down big time.

    I do appreciate the thought though, albeit it old article. But, do you think it stopped? This is what we find. We get a sanction here, a small fine there, but they let it keep happening.
  8. Top 10 SEC Enforcement Developments of 2006
    Marc Dorfman and Ellen Wheeler

    Securities Regulation & Law. April 9, 2007

    EXCERPT: Marc Dorfman and Ellen Wheeler are members of the Securities Litigation Enforcement & Regulation Practice Group of Foley & Lardner LLP. Beth Davidson, Jodie Fredericksen, Adrian Jensen, Jennifer Molina, Anne Richardson, and Deborah Wells, associates at Foley & Lardner LLP, also contributed to the preparation of this article. Foley & Lardner LLP represents parties who are the subject of SEC enforcement inquiries and actions, including in cases discussed in this article. During 2006, the Number One SEC enforcement development was the expansive and widespread investigations of stock options backdating. By the end of 2006, the SEC and the Department of Justice had only begun filing what will likely be a substantial number of civil and criminal actions in this area. Also during 2006, the SEC provided for the first time explicit guidance as to what factors it would consider in determining whether to assess civil penalties on a corporation. The SEC's guidance on corporate civil penalties is the Number Two SEC enforcement development of 2006. The remaining Top Ten developments illustrate other significant issues and trends in the SEC enforcement program: Number Three is a district court opinion suggesting limits on cooperation between the SEC and criminal authorities. Number Four is a case alleging improper investment adviser fee arrangements. Number Five is a decision by the D.C. Circuit upholding SEC sanctions imposed on a lawyer for negligence. Number Six is the continuing focus on market timing cases. Number Seven is a pair of decisions by the SEC potentially opening the door to asserting the Fifth Amendment privilege in NASD proceedings. Number Eight is an enforcement action against outside directors. Number Nine is the case brought against the City of San Diego. Number Ten is the first case brought under the USA Patriot Act.
  9. If you want to really get your mind blown, check out the rate of FTDs.

    It is so bad that the SEC literally refuses to release the true data on the number of FTDs, despite request after request after request.

    I'd love to be able to relentlessly short specific companies without having to have any $$$ or even margin, and even not having been able to pay past deliveries, as traders have done (see Sedona Corporation for an example of a company that got royally screwed by the corrupt and ineffective SEC).

    Why do we even have an SEC? They do more harm than good. They are an appendage of the big boys on Wall; they are their water boy.
    #10     Apr 15, 2007