Post by kranker on Nov 6, 2005 14:25:48 GMT -4
Faulking Truth to Senator Shelby: PUT THE DAMN FIRE OUT!
by Mark Faulk
Dave Patch of www.investigatethesec.com spoke with Senator Richard Shelby's aide Jonathon Grassio today, who told Patch that "the Senator did not derail any hearings and that the Banking Committee was 'committed to this issue.'" He also said that they were "monitoring Regulation SHO."
For starters, my article is 100% accurate, and although I called Shelby's office, and his Press Secretary's cell phone as well, they chose not to comment on my story. That says it all, in my opinion. I also emailed the article to the "Honorable" Senator Shelby, and he still hasn't responded to me. What's the matter, Senator, don't you like me anymore? If you have issues with my facts (and they are facts), then call me.....we'll talk.
Now let's get to Grassio's "monitoring Regulation SHO" comment. Monitoring Regulation SHO? Didn't Senator Bob Bennett tell former SEC Chairman William Donaldson over six months ago, "My main message here is that the evidence is Rule SHO is not working." So, a key member of the Banking Committee has already stated that Regulation SHO wasn't working SIX MONTHS AGO. And since then? There are still a number of well-known companies who have been on the "fail to deliver" list since day one, now 173 days and counting. How is standing around watching shareholders not get the stock that they bought for over six months "committed to the issue"?
Grassio also told Patch that he was "oversimplifying the issue." Patch's response is well worth reading, and right on the money, so I'll link his article below and add my trillion dollars worth. Hmmmm.....Mr. Grassio, how about this for "oversimplifying"? You go onto Ebay and buy 100 tickets to a sporting event for $50 each, but instead of sending you the tickets, the seller instead just makes an entry in his ledger that you bought the tickets, and promises to send them to you in three days. Then, he tells you that the tickets are there, but still refuses to actually send them to you. "Trust me," he says.
So what do you do? "Monitor" the situation for six months? No, you report him to the proper authorities after the three days (and maybe a little grace period....just to be nice), have him arrested and charged with internet fraud, and maybe even bank fraud. He goes to jail, and even if you never see your money again, at least no one else can be victimized by this crook. It really is that simple.
Monitoring Regulation SHO? That's the equivalent of firefighters "monitoring" a fire while the entire neighborhood goes up in smoke. Just when do you actually step in and start dumping water onto the fire? There will be plenty of time to figure out exactly what caused the fire later, but for now.....JUST PUT THE DAMN FIRE OUT! We've already burned down enough neighborhoods, destroyed enough lives. And THAT'S the Faulking Truth.
www.investigatethesec.com/FT220905.htm
by Mark Faulk
Dave Patch of www.investigatethesec.com spoke with Senator Richard Shelby's aide Jonathon Grassio today, who told Patch that "the Senator did not derail any hearings and that the Banking Committee was 'committed to this issue.'" He also said that they were "monitoring Regulation SHO."
For starters, my article is 100% accurate, and although I called Shelby's office, and his Press Secretary's cell phone as well, they chose not to comment on my story. That says it all, in my opinion. I also emailed the article to the "Honorable" Senator Shelby, and he still hasn't responded to me. What's the matter, Senator, don't you like me anymore? If you have issues with my facts (and they are facts), then call me.....we'll talk.
Now let's get to Grassio's "monitoring Regulation SHO" comment. Monitoring Regulation SHO? Didn't Senator Bob Bennett tell former SEC Chairman William Donaldson over six months ago, "My main message here is that the evidence is Rule SHO is not working." So, a key member of the Banking Committee has already stated that Regulation SHO wasn't working SIX MONTHS AGO. And since then? There are still a number of well-known companies who have been on the "fail to deliver" list since day one, now 173 days and counting. How is standing around watching shareholders not get the stock that they bought for over six months "committed to the issue"?
Grassio also told Patch that he was "oversimplifying the issue." Patch's response is well worth reading, and right on the money, so I'll link his article below and add my trillion dollars worth. Hmmmm.....Mr. Grassio, how about this for "oversimplifying"? You go onto Ebay and buy 100 tickets to a sporting event for $50 each, but instead of sending you the tickets, the seller instead just makes an entry in his ledger that you bought the tickets, and promises to send them to you in three days. Then, he tells you that the tickets are there, but still refuses to actually send them to you. "Trust me," he says.
So what do you do? "Monitor" the situation for six months? No, you report him to the proper authorities after the three days (and maybe a little grace period....just to be nice), have him arrested and charged with internet fraud, and maybe even bank fraud. He goes to jail, and even if you never see your money again, at least no one else can be victimized by this crook. It really is that simple.
Monitoring Regulation SHO? That's the equivalent of firefighters "monitoring" a fire while the entire neighborhood goes up in smoke. Just when do you actually step in and start dumping water onto the fire? There will be plenty of time to figure out exactly what caused the fire later, but for now.....JUST PUT THE DAMN FIRE OUT! We've already burned down enough neighborhoods, destroyed enough lives. And THAT'S the Faulking Truth.
www.investigatethesec.com/FT220905.htm