Post by fastwalker on Jan 29, 2006 23:35:01 GMT -4
As a group, shareholders are regularly overlooked in the market place and simply told to be cognizant of the perils of investing.
No thought is given us regarding the abuse we are forced to endure, well maybe we are afforded an after thought, but only when those who manipulate the market for nefarious purposes, are brought into the light of justice, or caught scrambling to do a CYA.
The face time we usually get as shareholders of a company going south, is usually limited to a lot of blustering and chest pounding by our elected officials over how bad they feel for us, who have been cheated.
However, that is often the extent of action being taken by our elected officials regarding our plight of abuse in the marketplace.
I would point out, absence of malice, that the current stagnation with see from our elected officials regarding real marketplace reform is most likely due to one of two things. First and foremost is the assine comments that belie the underlying attitude of the "in-power" Republicans. Who seems to think that it is somehow necessary for the public well being , that he “clean the Democrat’s clocks.”
I guess in lay man’s terms that means the Republicans will do what they d**n well please and screw the rest of us , if we attempt to interfere, or even question their motives?
Being a Texan, I understand that type of attitude from the politicians.
The Democratic on the other hand are the minority, so they are in fact simply “lame duck,” with no real power to effect any change, or stoppage on any thing the Republicans may want to actually do.
So lets stop the debate before it gets started. When the problems we are faced with today are really looked at, a reasonably prudent person can quickly assess the blame, where it should be.
Not on the current lame ducks, or even on Bill Clinton, that President is now some five plus years removed from having any significant impact on anything currently happening today.
Nothing and I do mean nothing is being reacted to by this administration, in fact everything being done by the current elected officials is done strictly a proactive basis, to effect change that benefits them, those in power now.
Face it people, members of Congress have real skills when it comes to creating the appropriate hearings to address an issue. But, as we see in the current environment of non cooperation between the parties, these events are one sided and are usually a high-profile media event, that serves only to get them in front of the camera for their own political agenda.
Instead of bickering and playing at politics, they should just ask the average person the man or woman in the street, who is trying to make a living or some extra money on the marketplace, what they think may be the problem(s) we are facing today.
By the average Joe in the street, I don't mean some pre-qualifed flunkies tapped by FOX news, or for that matter, some other media shill.
We don’t need our lawmakers creating a media circus out of the NSS issue, Just as we don’t need a “study,” or other knee-jerk, popularity-poll- driven legislation that ends up creating more problems in the market place than it fixes.
We certainly don’t need the SEC establishing criminality friendly laws that excuse those who manipulate the market and take our money.
One has only to look back at the myriad of proposals put forth for preventing another "Enron." Then jump forward to now, to ascertain what we actually got stuck with.
For all intents and purposes, it is a cumbersome mechanism that once it was in place, was simply viewed as just another speed bump over which the market manipulators would roll to manipulate the markets.
It comes as no surprise that we are actually faced with an unresponsive SEC administration, where the current state of the market place is concerned. Or for that matter, any serious discussion by the current administration to even look at the issue being discussed.
They are almost solely focused on terrorism and the Middle East, where potential nuclear proliferation may be a precursor to starting a conflict of disastrous consequences . That is not the issue at hand, I understand the ramifications of what is involved there.
For those of us complaining about the NSS problem, I would ask that you don't confuse our intention.
Clearly problems exist, over there which needs to be addressed. However, we have a serious situation here that if allowed to continue, may bankrupt America, financially and spiritually as well.
We are well beyond Enron and other company’s of such ill repute. Yet we are still seeing the same type of vile corruption being fostered on the American public, under many guises, it is, regardless what the SEC says, a real time event that must be taken seriously now, if we are to prevail in the long run.
Granted we all understand the magnitude of the task being attempted by the Security and Exchange Commission, how they are routinely involved in many ongoing investigations encompassing all levels of the business world, accounting companies, energy companies, software companies, telecommunications companies and more than likely many other companies in a variety of the remaining industries. No doubt it is a daunting task.
However, that does not negate the clear and present requirement to act in a timely manner, on the entry level complaints being filed by John Q. Public on their websites.
What we need from those charged with protecting our rights and our investments is not some clever worded or off handed "caveat emptor," but instead, a multi - tiered approach that identifies, recognizes and rectifies the problems of manipulation in the marketplace, at whatever level it exist and regardless of the political connections.
Consider this, if we were to look at change, the first order of business, IMHO, would be to establish a consistently acceptable format / concept on which we all, layman and professional alike would agree and understand without clarification from an attorney.
If we could perceive and establish as a base, a strongly functional, yet flexible regulation based on the previous criteria, we could establish as bill that envisioned such grand plans, in plain and simple American language, that would go to defining criminality by clearly stating s in plain English what constitutes a crime where securities are concerned.
Once established, then such laws would be linked to all other applicable laws that would strengthen and further define the scope and breadth of the criminality.
The second aspect of this format / concept would also address, in no uncertain terms, the requirement of the agencies to protect the shareholders / investors by ensuring that all applicable agencies, share in and or receive information identifying the suspected or real criminal activities of the primary companies in which the shareholder has invested, with attention to any linkage of subsidiaries that may be harboring funds of that company engaged in illicit activities.
The third concept is enhanced regulatory coordination.
The bill would require functional interaction by the Governmental regulators and a civilian watch dog / oversight committee, who would have the ability to not only cooperate with various Governmental agencies, but would also be recognized by said agencies, in their capacity as a watch dog, to exercise regulatory responsibilities and real oversight functions.
The SEC may balk at sharing access to “sensitive” information relevant to potential charges that may stem from ongoing investigations, but if the watch dog committee personal are screened and of sufficient integrity and also bound by law against disclosure, then that system would work and the joint effort would or could achieve a higher level of success, instead of the civilian side being “closed out” from pertinent data / information and ability to act.
The fundamental changes sought in the present non-productive, non responsive system, are being sought because the current situation has failed, due to an absence of valid checks and balances that routinely ensure total compliance.
If the concept has any chance of achieving substantial results, the structure and dynamics of the committee must be free of political appointees and political influences.
How else can we necessitate enforcement of the existing securities laws and regulations and bring about change, if the watch dog committee has to serve a silent master?
While I ran off topic a bit, the crux of my comments are directed at finding and implementing real time solutions for a serious situation that will eventually bring about , if we allow it to persist, the unrecoverable, or at least a the long term decline and possible economical collapse that will adversely impact American’s standing in the World community, and also drop us even deeper into the growing abyss of dependency on the whims of foreign money.
fw
No thought is given us regarding the abuse we are forced to endure, well maybe we are afforded an after thought, but only when those who manipulate the market for nefarious purposes, are brought into the light of justice, or caught scrambling to do a CYA.
The face time we usually get as shareholders of a company going south, is usually limited to a lot of blustering and chest pounding by our elected officials over how bad they feel for us, who have been cheated.
However, that is often the extent of action being taken by our elected officials regarding our plight of abuse in the marketplace.
I would point out, absence of malice, that the current stagnation with see from our elected officials regarding real marketplace reform is most likely due to one of two things. First and foremost is the assine comments that belie the underlying attitude of the "in-power" Republicans. Who seems to think that it is somehow necessary for the public well being , that he “clean the Democrat’s clocks.”
I guess in lay man’s terms that means the Republicans will do what they d**n well please and screw the rest of us , if we attempt to interfere, or even question their motives?
Being a Texan, I understand that type of attitude from the politicians.
The Democratic on the other hand are the minority, so they are in fact simply “lame duck,” with no real power to effect any change, or stoppage on any thing the Republicans may want to actually do.
So lets stop the debate before it gets started. When the problems we are faced with today are really looked at, a reasonably prudent person can quickly assess the blame, where it should be.
Not on the current lame ducks, or even on Bill Clinton, that President is now some five plus years removed from having any significant impact on anything currently happening today.
Nothing and I do mean nothing is being reacted to by this administration, in fact everything being done by the current elected officials is done strictly a proactive basis, to effect change that benefits them, those in power now.
Face it people, members of Congress have real skills when it comes to creating the appropriate hearings to address an issue. But, as we see in the current environment of non cooperation between the parties, these events are one sided and are usually a high-profile media event, that serves only to get them in front of the camera for their own political agenda.
Instead of bickering and playing at politics, they should just ask the average person the man or woman in the street, who is trying to make a living or some extra money on the marketplace, what they think may be the problem(s) we are facing today.
By the average Joe in the street, I don't mean some pre-qualifed flunkies tapped by FOX news, or for that matter, some other media shill.
We don’t need our lawmakers creating a media circus out of the NSS issue, Just as we don’t need a “study,” or other knee-jerk, popularity-poll- driven legislation that ends up creating more problems in the market place than it fixes.
We certainly don’t need the SEC establishing criminality friendly laws that excuse those who manipulate the market and take our money.
One has only to look back at the myriad of proposals put forth for preventing another "Enron." Then jump forward to now, to ascertain what we actually got stuck with.
For all intents and purposes, it is a cumbersome mechanism that once it was in place, was simply viewed as just another speed bump over which the market manipulators would roll to manipulate the markets.
It comes as no surprise that we are actually faced with an unresponsive SEC administration, where the current state of the market place is concerned. Or for that matter, any serious discussion by the current administration to even look at the issue being discussed.
They are almost solely focused on terrorism and the Middle East, where potential nuclear proliferation may be a precursor to starting a conflict of disastrous consequences . That is not the issue at hand, I understand the ramifications of what is involved there.
For those of us complaining about the NSS problem, I would ask that you don't confuse our intention.
Clearly problems exist, over there which needs to be addressed. However, we have a serious situation here that if allowed to continue, may bankrupt America, financially and spiritually as well.
We are well beyond Enron and other company’s of such ill repute. Yet we are still seeing the same type of vile corruption being fostered on the American public, under many guises, it is, regardless what the SEC says, a real time event that must be taken seriously now, if we are to prevail in the long run.
Granted we all understand the magnitude of the task being attempted by the Security and Exchange Commission, how they are routinely involved in many ongoing investigations encompassing all levels of the business world, accounting companies, energy companies, software companies, telecommunications companies and more than likely many other companies in a variety of the remaining industries. No doubt it is a daunting task.
However, that does not negate the clear and present requirement to act in a timely manner, on the entry level complaints being filed by John Q. Public on their websites.
What we need from those charged with protecting our rights and our investments is not some clever worded or off handed "caveat emptor," but instead, a multi - tiered approach that identifies, recognizes and rectifies the problems of manipulation in the marketplace, at whatever level it exist and regardless of the political connections.
Consider this, if we were to look at change, the first order of business, IMHO, would be to establish a consistently acceptable format / concept on which we all, layman and professional alike would agree and understand without clarification from an attorney.
If we could perceive and establish as a base, a strongly functional, yet flexible regulation based on the previous criteria, we could establish as bill that envisioned such grand plans, in plain and simple American language, that would go to defining criminality by clearly stating s in plain English what constitutes a crime where securities are concerned.
Once established, then such laws would be linked to all other applicable laws that would strengthen and further define the scope and breadth of the criminality.
The second aspect of this format / concept would also address, in no uncertain terms, the requirement of the agencies to protect the shareholders / investors by ensuring that all applicable agencies, share in and or receive information identifying the suspected or real criminal activities of the primary companies in which the shareholder has invested, with attention to any linkage of subsidiaries that may be harboring funds of that company engaged in illicit activities.
The third concept is enhanced regulatory coordination.
The bill would require functional interaction by the Governmental regulators and a civilian watch dog / oversight committee, who would have the ability to not only cooperate with various Governmental agencies, but would also be recognized by said agencies, in their capacity as a watch dog, to exercise regulatory responsibilities and real oversight functions.
The SEC may balk at sharing access to “sensitive” information relevant to potential charges that may stem from ongoing investigations, but if the watch dog committee personal are screened and of sufficient integrity and also bound by law against disclosure, then that system would work and the joint effort would or could achieve a higher level of success, instead of the civilian side being “closed out” from pertinent data / information and ability to act.
The fundamental changes sought in the present non-productive, non responsive system, are being sought because the current situation has failed, due to an absence of valid checks and balances that routinely ensure total compliance.
If the concept has any chance of achieving substantial results, the structure and dynamics of the committee must be free of political appointees and political influences.
How else can we necessitate enforcement of the existing securities laws and regulations and bring about change, if the watch dog committee has to serve a silent master?
While I ran off topic a bit, the crux of my comments are directed at finding and implementing real time solutions for a serious situation that will eventually bring about , if we allow it to persist, the unrecoverable, or at least a the long term decline and possible economical collapse that will adversely impact American’s standing in the World community, and also drop us even deeper into the growing abyss of dependency on the whims of foreign money.
fw