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Another Article Using the Words Systemic Risk; Hedge Fund SRO Considered

Location: Blogs Bob O'Brien's Sanity Check Blog    
Posted by:   bobo 4/20/2006 4:00 AM

An article came out today that has the Fed discussing systemic risk caused by hedge funds, and alludes to a reverberation effect should they not be managing their risk correctly.

Here's my translation: If these guys start blowing up because they have to buy in their massive illegal short positions, it could crush a lot of really rich guys on Wall Street, and that would be bad, because they are really the only ones that matter.

You can read the article here.

Odd how my blogs from over a year ago discuss hidden contingent liabilities at hedge funds and brokers, used to disguise the true amount of risk and thereby concealing the true systemic jeopardy, and here is the Fed saying roughly the same thing.

Then again, a year ago I was being called a charlatan and a crazy for positing those things, and now my wild-eyed baloney sort of sounds like the latest round of lawsuits. Weird how that works. And yet the propaganda machine continues to chug along, insisting that there is no problem, and that it is all in our heads. That is sounding increasingly feeble by the day.

-------------------

A column in Marketwatch this morning discussed the necessity for a hedge fund SRO.

What an F-d up idea that is.

For those unfamiliar with the history of SROs, that was a compromise position that was reached by Roosevelt with Wall Street, when the nation was justifiably clamoring for strict regulation after the Crashes of '29 and '32. Wall Street was insisting none was required - and the lead dog in that fight was Dick Whitney, head of the NYSE, who was subsequently convicted of embezzlement and sent to Sing Sing for 5 to 10.

But I digress.

Wall Street lobbied hard and long to prevent any regulation, and when it became obvious that there would be some, ran interference by coming up with the notion of the den of thieves policing itself. Because if you had to have a cop on the block, it was better to own him outright than to have an impartial set of eyes.

And the SRO was born. Nobody questions the notion that a self-regulatory entity is a good idea nowadays, as few remember the farce that was the compromise that created the SEC.

And now, hedge funds, who could easily cause systemic crisis or collapse, and who have been caught time and time again being as larcenous as an Afghani bandit, want to police themselves.

Huh. That sure has worked well with the DTCC, huh? You know, the entity that passed rules making it "powerless" to buy-in fails, "powerless" to police the ex-clearing mess, "powerless" to police the NSCC's Stock Borrow Program - and yet is an SRO chartered with regulating its members' business conduct and upholding securities laws?

Hey, I know, let's allow those we are concerned about being crooks to police themselves!

That's a great idea! Why, I can go through the stacks and stacks of letters to the NYSE, also an SRO, complaining about suspicious trading in NFI at the time we now know there were 40+% per day of trades failing, and find all their responses where they indicated they had investigated and found no problems.

Bravo. Nicely done.

Can everyone appreciate why I am less than a fan of these sorts of false panaceas?
Copyright ©2006 Bob O'Brien
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Comments (16)
Re: Another Article Using the Words Systemic Risk; Hedge Fund SRO Considered By hwh on 4/20/2006 9:25 AM
SRO=Systemoic Racketeering Opportunity...hwh
Re: Another Article Using the Words Systemic Risk; Hedge Fund SRO Considered By hwh on 4/20/2006 9:29 AM
Since Mr. Young's Eulogy, the FED becomes the monster so the monster it created won't break it...hwh
Re: Another Article Using the Words Systemic Risk; Hedge Fund SRO Considered By dave on 4/20/2006 9:40 AM
In this article:

http://w3.trib.com/~fredj/ney.html

with excerpts from Ney's books, he makes the claim that the street is so powerful that:

- they set the price that stocks trade at. It isn't a true auction market. The price determines buy or sell volume, not the other way around.

- they are the ACTUAL voters as they control the proxies. In those days, the clearing house was the NYSE central depository, but now it is Cede & Co. Cede & Co. votes the shares and there is no guarantee they follow the instructions of the beneficial owners as the process is not audited. If they don't follow voting instructions, it is only breach of contract and isn't criminal.

- they use their control of proxies to make sure most board of directors (media companies, for example) are friendly to their interests.

- the politicians report to them as they have the money

The Ney books date back to the 70's, but so does Cede & Co. That's when the non incorporated partnership, owned by employees of the NYSE appears to have been set up.
Re: Another Article Using the Words Systemic Risk; Hedge Fund SRO Considered By pinkice on 4/20/2006 9:53 AM
self-regulated - what a hoot!! no different then saying i will regulate my diet and close my eyes all the eating all the biggie french fries, big macs, and chocolate i want. guess what - my system is a systemic mess and i pay the price. the only difference with fraud street is that main street pays the price. imho - sro's need to go and need to be replaced with independent organizations - ones with checks and balances that can't be bought off or manipulated.

let the hedgies and broker-dealers blow-up - poor babes may not get big bonuses or stock options anymore. in fact how much of the record earnings stem from ill-gotton gains directly related to nss and the FTD issues. SEC - do your job and regulate.

main street wants wall street brought to justice.
Re: Another Article Using the Words Systemic Risk; Hedge Fund SRO Considered By dave on 4/20/2006 10:05 AM
October 12, 1971, Senator Metcalf complained about lack of disclosure of Wall Street's ownership of the media and in particular complained that no one seemed to know who Cede & Co (which is the actual owner of all street form shares) is.

He thought that it was a corporation owned by the stock clearing corporation which was owned by employees of the NYSE.

I believe Cede & Co. is a real private partnership with real shareholders.

SENATOR METCALF:
Mr. President, last week, while paging through my copy of TIME,
I noticed some familiar names in an odd place. The name was
the "nominees," "street names," or "straws" used to hide the
identity of various financial interests. I found these street
names in TIME's ownership statement, which appears on page 92 of
the magazine of October 11.

Periodical ownership statements are supposed to be published at
least once a year .....

According to the weekly news magazine, it is owned by TIME, Inc.,
of which ten stockholders each own or hold one percent or more
of the total amount of stock. .....

First on the list is Carson & Company. It's address is box 491,
Church Street Station, N.Y. 10018. ..... Carson & Company really
means Morgan Guaranty Trust.

Further down on TIME's report on its principal stockholders
appears the name Powers & Company. It has a different post office
box at the Church Street Station -- box 1479 ..... you can see
by the nominee list that it is also Morgan Guaranty Trust.

Powers & Company shares box 1479 with another of TIME's
stockholders -- Tegge & Company ..... Tegge & Company shows up in
this year's edition of the nominee list as yet another pseudonym
used by Morgan Guaranty Trust.

TIME includes among its reported stockholders Chetco, at 35
Congress St., Boston, and Ferro & Company, at the same address.
Both, according to the nominee list, are really the National
Shawmut Bank of Boston.

TIME likewise lists without further identification Pace & Company,
box 926, Pittsburgh. And who is Pace? It is really Mellon Bank
& Trust, according to the nominee list.

Another of TIME's stockholders is reported as Cede & Company,
box 20, Bowling Green Station, N.Y. Persons who follow regulatory
matters will recall that Cede & Company shows up repeatedly on
ownership reports of power companies, airlines, and railroads,
and that not long ago the Interstate Commerce Commission expressed
mild interest in finding out who controlled all those Cede & Company
shares ..... The nominee list shows that Cede & Company is the
Stock Clearing Corporation, at 44 Broad Street. I would add that
the Stock Clearing Corporation is a wholly owned subsidiary of
the New York Stock Exchange. ..... I leave it to the would-be
Lieblings to ferret out press ownership and its implications.

Perhaps university STUDENTS and FACULTY will want to develop the
larger issue of identifying the persons or groups who vote the
proxies that corporations send, I suppose, to those post office
box headquarters of phantom companies.
Re: Another Article Using the Words Systemic Risk; Hedge Fund SRO Considered By dave on 4/20/2006 10:11 AM
Controlling proxies means that the beneficial voter gave you the power of attorney to vote their shares.

Note the two quotes form Metcalf and Neys:

"Perhaps university STUDENTS and FACULTY will want to develop the
larger issue of identifying the persons or groups who vote the
proxies that corporations send, I suppose, to those post office
box headquarters of phantom companies"

"It is an ideal situation. When you control a corporation's proxies, everyone is sympathetic to your point of view and your choice of directors. This is the other reason why nearly every major corporation listed with the Exchange (NYSE, M.T.) has a broker or a broker's banker on its board. It gives the exchange a pipeline to that corporation" (1Ney, 90).
Re: Another Article Using the Words Systemic Risk; Hedge Fund SRO Considered By ginger on 4/20/2006 11:19 AM
When crooks police themselves they devise laws to sweep everything under the rug with phrases such as "without admitting or denying ..."

You couldn’t have described it better bobo … “as larcenous as an Afghani bandit”.

~~~~~~~~~~~~
We are pleased that the NASD has settled its inquiry into Salomon Smith Barney's research coverage of Winstar Communications without the firm admitting or denying the allegations.

http://www.citigroup.com/citigroup/citizen/research/020923a.htm
~~~~~~~~~~~~
TAP paid the Federal Government a total of $850 million without admitting or denying liability. Durand and his attorneys were paid $79 million.

http://www.roberts-partners.com/false_claims_cases_index.html
~~~~~~~~~~~~
Simultaneous with the filing of the Complaint, Banks consented, without admitting or denying the allegations of the Complaint…

http://www.sec.gov/litigation/litreleases/lr16251.htm
~~~~~~~~~~~~
Without admitting or denying the allegations in the complaint, Swisher consented to the entry of a Final Judgment permanently enjoining him from future violations of Sections 17(a)(2) and (3) of the Securities Act, and Sections 10(b)(5), 13(b)(5) and…

http://www.sec.gov/litigation/litreleases/lr17123.htm
~~~~~~~~~~~~
Kenneth Brazeau, without admitting or denying fault, consented to a prohibition order to avoid the time and expense of litigation.

Christina L. Capone, without admitting or denying fault, consented to a prohibition order to avoid the time and expense of litigation.

Ruth Hundley, without admitting or denying fault, consented to a prohibition order to avoid the time and expense of litigation.

Jacquelyn Martinez, without admitting or denying fault, consented to a prohibition order to avoid the time and expense of litigation.

Daisy Ruiz, without admitting or denying fault, consented to a prohibition order to avoid the time and expense of litigation.

Sharon Shivak, without admitting or denying fault, consented to a prohibition order to avoid the time and expense of litigation.

Kathy Wynn, without admitting or denying fault, consented to a prohibition order to avoid the time and expense of litigation.

Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million.

http://www.ncua.gov/news/press_releases/2005/NR05-0926-4.htm
Re: Another Article Using the Words Systemic Risk; Hedge Fund SRO Considered By bbhindyou on 4/20/2006 11:56 AM
I'm all for it! Lets make everything self regulatory! No more cops,judges ,jails no more laws on what is right or wrong we will just do what we 'feel'is in everyones 'best interest if we 'feel' that it is in the best interest of everyone Not to pay our bills [or settle our trades] when they come due ,HEY, thats just fine we will probably pay it SOMEDAY well unless the electric company closes up and then we dont have to pay we can just start using another company that we might eventually pay for services rendered or maybe not if they fail ,HEY, see I was right no use sending them money they clearly are missmanaging the company and funds or they would'nt go out of business. It isnt my[and my buddies] failure to deliver payment that ruined it its the companys fault for not paying attention to keeping its company profitable.Boy I hope there are a lot of electric companys out there!
Re: Another Article Using the Words Systemic Risk; Hedge Fund SRO Considered By dave on 4/20/2006 12:09 PM
We could do away with the IRS. Groups of taxpayers could agree to audit themselves and pay themselves a fraction of any shortfall as a fine.

Self regulating makes so much sense!
Re: Another Article Using the Words Systemic Risk; Hedge Fund SRO Considered By mhatmccane on 4/20/2006 1:30 PM
And yet, how many times have we seen the SEC overturn fines and barring a broker for life levied by NASD ?
Re: Another Article Using the Words Systemic Risk; Hedge Fund SRO Considered By IMPORTANT ANOUNCEMENT FOR THE CAUSE on 4/20/2006 4:16 PM
UpDate April 20 2006 FRIZZELL LAW FIRM
602 S. Broadway
Tyler, Texas 75701
(903)595-1921


Greetings CMKX Owners Group members,



Please be advised that this update is my communication to those shareholders that joined Phase II of the CMKX Owners Group and other shareholders that elected to continue receiving updates after the conclusion of Phase I. First let me say I apologize in advance for any of you who read this on the boards who are on the mailing list and did not get this update. Unfortunately our e-mail looks like spam to some ISP’s, and in turn is blocked. Our IT Guy suggests adding our e-mail to your whitelists or address books which may in turn clear the updates for delivery.



This is not an official response of the company or Urban Casavant. I do not represent the company nor do I represent Urban Casavant. These are my comments to shareholders who have joined the CMKX Owners Group and contributed to the expenses of this investigation. Do not interpret any of my comments as that of CMKM Diamonds, Inc.



I am simply a member of the CMKM Task Force. As such, I am assisting Mr. Maheu, Mr. Stoecklein and Mr. Casavant in notifying the shareholders of the Entourage distribution. This office has agreed to collect the data being sent in by the shareholders for the sole purpose of arriving at a list of bona fide shareholders. Because of my position on the Task Force and somewhat regular contact with Urban, Mr. Stoecklein and Mr. Maheu, this office and the staff compiling the cert pull information have become the call center for questions about the company. We are glad to answer as many of your questions as possible and be a sounding board for those of you who want to vent about the company, but please remember we do not run the company nor do we have all the information you are seeking. I receive many rude and sarcastic emails about the company and I simply delete most of them. If I receive an email or a phone call that is a legitimate inquiry or a question that I can answer, I will do so. Questions such as “When will this mess be over with?” or “How much am I going to get for my stock?” or “Is this company a scam?” do not get responses from me.

We are too busy trying to find out how 60 or 70 thousand accounts became 30 or 40 thousand accounts in a relatively short period of time. We are very concerned with the obstinate refusal of brokerage houses to send their CMKM customers proof of certified share positions. Even the DTCC is invoking a slightly uncommon procedure to send its certs out to its participants because of the reluctance by certain brokers to retrieve certs they have on deposit at the DTCC. While I am discussing the DTCC, several of you e-mailed about certain language in the first letter that was sent to participating brokers which stated “Upon Surrender of CMKM Diamonds Inc. Common Shares”. My office has obtained clarification from the DTCC and the wording was simply an oversight on their part. The language should have stated “A stockholder will retain their CMKM shares upon receiving the Entourage Certificates.”

We are also trying to come up with creative ways of encouraging several thousand shareholders that still maintain positions in street name to force the brokers to cert their shares. My job as far as being a member of the CMKM Task Force is well defined. I can not ignore the implications of our findings as the cert information comes into this office. As we total up the certed shares, there is an inescapable conclusion that something is amiss. (I expect my normal complaints from those that say I speak in code. .However, there is no code or intent to have you read between any lines.) I am glad to explain issues in my updates but I make an effort to simply state the facts and I do not intend hidden meanings.



I have been getting a flood of emails lately from shareholders wanting to know about the inner workings of CMKM and various questions concerning contact from the company. Some of the emails are expressing frustration about the lack of information and knowledge they are receiving from the company about company matters. I fully understand your frustrations. There is information I would love to have about the company, but my position on the Task Force has never been a ticket to unlimited information about the company. You should recall that Urban and the company are both still under investigation by the SEC and Urban has very competent counsel that guides him in his communications with shareholders. I am a shareholder as well as a member of the Task Force.



The CMKM Task Force has contracted with a third party mailing company to distribute a notice to some current shareholders that may not have received notice of the requested distribution of Entourage stock. This mailout will go to selected shareholders that are not currently on the master shareholder list which the Task Force has obtained from the Transfer Agent. The Task Force has received evidence that many accounts containing CMKX stock were unilaterally sold from shareholder’s account in 2005 and 2006. We have learned there are shareholders who had their positions liquidated as worthless securities. We know there are a large number of “Fails to Deliver” in this stock so we (Task Force) have decided to go beyond what would be considered the normal process of notification. The current NOBO/OBO list provided by ADP does not contain all the shareholders that are probably entitled to this distribution in my opinion.



While I feel there is a substantial “failure to deliver” position in many firms in this stock, I recently ordered the removal of several short share estimates that have been on the Task Force website for several months. Do not read into this act anything of significance. Information changes by the day, and we are realizing that it will be almost impossible to find all shareholders of this stock. I see no reason to give the detractors any more ammunition to support their commentaries.


This mail out will go out to approximately 36,000 account holders. We are requesting formal notification by ADP services to all OBO accounts. OBO accounts are shareholders that object to giving their names and information, so we have to depend on ADP to notify these accounts of our distribution and the request for certs. Our mailing will include approximately 7000 Canadian and other foreign accounts. We have information of shareholders in 60 foreign countries, but we have no reliable way to accurately identify these shareholders and their respective holdings. We will continue to do work in this area. We need the help of shareholders who know others around the world to put the word out.

We have gone to great lengths to put together a mailing list that we believe will reach an enormous amount of shareholders that are either not aware of this need to pull physical certificates or that may have had their holdings liquidated or sold without their consent. To do this we have created a master list from a June 2005 NOBO list, January 2006 NOBO list and a Canadian NOBO list. From these we have deducted duplicates and people that have already pulled their certificates as of the 3-15-06 shareholder list.





We will be posting the contents of this letter on the CMKX Owners Group website and the CMKM Task Force website today. The letters should be in the mail tomorrow. We are also evaluating rate sheets and deciding the most effective news print media to use to supplement our direct mailing. The legal notice will essentially have the same information as the mail out, and will fulfill any required legal notification.



I have been authorized to release a current Securities Position Report from the DTCC. Many of you will write me and ask “What does this mean?”. It simply means this is the current position these companies have in street shares held on deposit at the DTCC. You can draw whatever conclusions you wish based on this information. You can see the report on the www.cmkxownersgroup.com web site, or go to http://www.cmkxownersgroup.com/spr%204-14-06.pdf



Folks, we are embarking on new territory here. No company has ever challenged the market to become transparent as you are doing. Call your fellow shareholders who are not cooperating. Explain as best you can the need to unite for a bit longer. This group can have a profound effect on the stock market if this group stays together and works together in the face of a well coordinated group of bashers and detractors to our efforts. Why do you think the bashers and detractors continue their assault on a non trading revoked company?



I am not sure of Mr. Stoecklein’s plans for an official release from the company. Mr. Maheu is to begin his deposition today with the SEC. I will be in contact with his Mr. Stoecklein’s office either tomorrow or Monday regarding an official press release by the company.





Onward!



Bill
Re: Another Article Using the Words Systemic Risk; Hedge Fund SRO Considered By JAGMEDIAPUMPANDDUMP on 4/20/2006 4:21 PM
"The count of the criminal indictment to which Valentine pleaded guilty alleged, among other things, that Valentine and another defendant conspired to unjustly enrich themselves by defrauding a fictitious foreign mutual fund (Fund) through paying undisclosed payoffs and kickbacks to brokers in exchange for causing the Fund to purchase large amounts of overpriced C-Me-Run, SoftQuad, and JagNotes stocks. The count of the criminal indictment further allegedthat it was also the object of the conspiracy for the defendants to unjustly enrich themselves bydefrauding the shareholders of C-Me-Run, SoftQuad, and JagNotes by artificially inflating the market price of these stocks through illegal means."

http://www.sec.gov/litigation/admin/2006/34-53683.pdf

===================================================================





UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

Washington, DC

SECURITIES EXCHANGE ACT OF 1934

Release No. 53683/April 20, 2006

ADMINISTRATIVE PROCEEDING

File No. 3-12153

___________________________________

In the Matter of :

: ORDER MAKING FINDINGS

PAUL D. LEMMON, : AND IMPOSING REMEDIAL

MARK VALENTINE , and : SANCTION BY DEFAULT AS TO

MICHAEL VLAHOVIC : MARK VALENTINE

___________________________________

The Securities and Exchange Commission (Commission) issued its Order Instituting

Proceedings (OIP) on January 20, 2006. Respondent Mark Valentine (Valentine) was served

with the OIP on March 2, 2006, and his Answer was due twenty days thereafter. See OIP at 3;

17 C.F.R. § 201.220. To date, Valentine has not filed an Answer. Valentine also failed to

appear at the prehearing conference held on March 23, 2006.

On March 31, 2006, the Division of Enforcement filed a motion for default against

Valentine, based on his failure to file an Answer or otherwise appear. On April 6, 2006, I issued

an order requiring Valentine to show cause by April 14, 2006, why he should not be held in

default and why he should not be barred from participating in an offering of penny stock. To

date, Valentine has failed to respond to the Division of Enforcement’s motion for default and to

my order to show cause.

Valentine is in default for failing to file an Answer to the OIP, failing to appear at a

prehearing conference, and failing to otherwise defend the proceeding. See 17 C.F.R. §§

201.155, .220, .221. As authorized by Rule 155(a) of the Commission’s Rules of Practice, 17

C.F.R. § 201.155(a), I find the following allegations in the OIP to be true as to Valentine.

Valentine, age thirty-five, is a resident of Toronto, Ontario, Canada. Valentine was the

chairman of Thomson Kernaghan & Co., a securities broker-dealer located in Ontario, Canada.

Valentine controlled a significant amount of C-Me-Run, Inc. (C-Me-Run), SoftQuad, Ltd.

(SoftQuad), and JagNotes.com, Inc. (JagNotes), stocks. Valentine participated in an offering of

C-Me-Run, SoftQuad, and JagNotes stocks, which are penny stocks.

On March 10, 2004, Valentine pleaded guilty to one count of securities fraud in violation

of Title 15 of the United States Code, Section 78j(b) and 78ff, before the United States District

Court for the Southern District of Florida, in United States v. Valentine, Criminal Indictment No.

02-80088-CR-Cohn. On May 21, 2004, a judgment in the criminal case was entered against

Valentine. Valentine was sentenced to four years of probation with nine months of home

detention and other special conditions of supervision and ordered to pay a $100 assessment to the

court.

The count of the criminal indictment to which Valentine pleaded guilty alleged, among

other things, that Valentine and another defendant conspired to unjustly enrich themselves by

defrauding a fictitious foreign mutual fund (Fund) through paying undisclosed payoffs and

kickbacks to brokers in exchange for causing the Fund to purchase large amounts of overpriced

C-Me-Run, SoftQuad, and JagNotes stocks. The count of the criminal indictment further alleged

that it was also the object of the conspiracy for the defendants to unjustly enrich themselves by

defrauding the shareholders of C-Me-Run, SoftQuad, and JagNotes by artificially inflating the

market price of these stocks through illegal means.

Based on the foregoing, I find it appropriate in the public interest to bar Valentine from

participating in an offering of penny stock.

ORDER

IT IS ORDERED, pursuant to Section 15(b) of the Securities Exchange Act of 1934, that

Respondent Mark Valentine is hereby BARRED from participating in an offering of penny

stock.

_______________________________

Lillian A. McEwen

Administrative Law Judge
Re: Another Article Using the Words Systemic Risk; Hedge Fund SRO Considered By rtway1 on 4/20/2006 6:21 PM
Has anybody noticed the absence of Charlie Gasparino on CNBC lately as well as the stellar ace reporter Herb Greenberg.
ot for the bunny By cynabear on 4/20/2006 7:28 PM
an egg for your basket
http://decider.cf.huffingtonpost.com/
Re: Another Article Using the Words Systemic Risk; Hedge Fund SRO Considered By virakiller on 4/21/2006 5:44 AM
Posted: Apr 21, 2006 6:42 AM

Dear Friends,

Call [202]551-2100 and ask that mother fucker Christopher Cox if he
thinks you are an "ass-hole"

Make that call-NOW !!

Today at the S.E.C they ARE TRYING TO "CON-US" that they are trying to
regulate the Hedge Fund World of rich Americans ROBBING poor Americans

DON'T BUY IT !!!

They are saying they will demand the "hedgies" enforce their trading markets
with "S.R.O' s".

The definition of an S.R.O is a SELF- REGULATED - ORGINIZATION !

The only question left is how stupid do they actually think we are ?

Hedge Funds are UNREGULATED- They are illegal trading enterprises.

We are moving in the WRONG WAY as a nation.Our securities markets
has a "leak" in it's foundation.

Defend this country from this CRIMINAL Hedge Fund "conspiracy" and
help Paul Revere[Patrick Byrne of Overstock.com] "spread this word"

Understand this-
The "unregulated" markets in which the rich rob the poor daily will
enforce a --Self-regulated ?- enforcement team to regulate these markets
they ABUSE ?

That's like telling a safecracker to monitor a safecraker ?
A theif to police a theif ?

We need to "clog" that leak in our Capital markets.

The ONLY way to do it now is with a "full court press"

Call that mother fucking "theif" in charge at the S.E.C Christopher Cox
at [202] 551-2100.

Tell him we as a nation are not "patsies" to the rich. We will not stand for
this crime DESTROYING our country through the markets any longer.

STOP THIS CRIME OF COUNTERFEITING AMERICAN SECURITIES !!

DO YOUR JOB !!

ENFORCE THE MARKETS !!

CURB THIS GREED !!

Please make this call now
I am begging you.

your friend,
Darren



Listing 1-1 of 1


Re: Another Article Using the Words Systemic Risk; Hedge Fund SRO Considered By kalalau73 on 4/21/2006 6:08 PM
Along with an SRO for hedge funds and other wall street institutons, we obviously need SROs for bank robbers and Al Queda squads.

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