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Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court

Location: Blogs Bob O'Brien's Sanity Check Blog    
Posted by:   bobo 7/15/2006 12:02 PM

Yahoo has single-handedly destroyed their hugely popular stock message boards, by changing the interface to a clumsy, non-contiguous mess that nobody in their right mind would want to use.

Whoever came up with the new format should be fired.

The good news is that it destroys the usefulness of those boards for bashers to disseminate false and misleading info - nobody will read them, thus their power to inform or panic the herd is diminished.

I would propose that everyone start using the forums here, as they are contiguous, and can be surfed coherently.

The new Yahoo boards are basically the best thing that ever happened to Google. They must be delighted. I would be. My hunch is that traffic dries up to near zero over the next few weeks, and the execs at Yahoo change the boards back. We'll see. For now, they officially suck.

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

The Nevada court accepted the NASAA and NCANS amicus briefs, delivering a slap in the face to the SEC. Now the court has to consider those briefs' argument that there is no basis for the preemption position the SEC attempts to assert protects the DTCC from being accountable at the state level. I feel that argument will prevail, and that the SEC will be forced to admit that it is full of it, and is trying to run interference for the DTCC, for unknown reasons.

Stay tuned.

Did I mention that the Yahoo boards really, really suck?
Copyright ©2006 Bob O'Brien
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Comments (52)
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By Ranger on 7/15/2006 6:26 PM
Ditto on the Yahoo Boards. I have been sending them nasty grams for a month abot how bad of an ideal it was to cahnge something that everybody liked!
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By Hilly on 7/15/2006 6:27 PM
Agree about the Yahoo boards. I've already sent them a blow out letter telling them to change it back! I advise everyone else to do likewise. Been a Yahoo poster for over 8 years and this new version REALLY SUCKS!!!

Send them an email!

J
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By InTheKnow on 7/16/2006 2:32 PM
Ya would think it was some drunk at the SEC who sent the letter. Probably the janitor who's in for a promotion to legal.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By otc on 7/16/2006 3:54 PM
One thing that bugs me about the SHO list is that most OTC companies will fail just based on fundamentals. There are over 3,000 of them and they should be easy to short as you are ALLOWED to short them for legitimate market making activities to create liquidity.

Am I the only one that thinks it strange that out of 3,000 + companies, only a few dozen have delivery failures? You would expect at least 1,500 on the list.

Maybe the hedge funds feel sorry for these small companies and as a group decided not to pick on them.

Or maybe the list is a crock.

The reason this is important is these companies are the "lottery ticket". These are the companies that are supposed to make you 10x, 100x or even more on your money. Hidden among these thousands of companies could be the next Microsoft or the next cure for cancer.

I believe the fails are thousands of times worse than SHO leads us to believe and that's why the system stalls us so much.

The system often says these companies deserve to fail, but that misses the point. If I invest in those companies, my MONEY IS REAL. What gives the system the right to give me an IOU, WITHOUT MY KNOWLEDGE, that ensure I lose my money because of the large mismatch between supply of money and supply of IOU's?

I don't care if the company if real or not. If more people buy than sell, the price should rise.

If it doesn't, then I don't understand the rules surrounding an auction based stock market.

It's not fair to play a game when the real rules are different than presented.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By mhatmccane on 7/16/2006 5:30 PM
to Captspell

Please take a look at Wall of Letters under Forums (click on Forims, then click on Wall of Letters) New, improved Wall - allows posting of your own letters, Emails, etc.

If you'd prefer, I'll post them for you. Email then to me : mhat.mccane@gmail.com

See Bobo's blog about the new Wall
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By daven on 7/16/2006 5:56 PM
OTC, I have the same concern. I don't trust SHO numbers and think we should dig into OTC as the corruption is likely to be the most blatant there.

- x clearing
- market maker exceptions
- foreign ownership (what if ALL foreign buyers only bought IOU's and had no upward pressure on the price?)

We should pick one company, such as NFI and do an audit. I'm not a big fan of CMKX as a company, but they were on to something by doing the fax audit.

Could we pick a date to fax our NFI brokerage statements with personal details felt penned out to Mary at NCAANS?

What would be the impact if a handful of loyal readers owned more shares than the float or the scammers at the SEC / NYSE SHO admitted to?

We are making progress, but I feel we need to do something to take it to the next level.

I'm sick of waiting through SEC comment periods only to find out they are USELESS because the SEC is all about protecting the THIEVES.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By browntrout on 7/16/2006 6:30 PM
OTC- There should be many OTC companies added back to the SHO list hopefully. When the first SHO list came out in Jan. 2005 there were hundreds more on the list. After several days most were removed from the list due to industry pressure. Hopefully they all reappear shortly but I doubt it. Most of these small companies are rumored to have several times the outstanding shares short in ex-clearing but SHO does not deal with that. The DTCC has a pretty good idea what has happened here and that is why they have battled releasing info that would compromise their own game.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By mig on 7/16/2006 10:22 PM
Please Help!
I went to respond to the reg SHO prosal this weekend and I started with a re-read of the SEC act of 1934. It appears to have changed significantly since the last time I read it. It talks about securities being fungible, hypothication of shares, and I couldn't find anything in it about T+3!. I know T+3 was in it the last time I read it. Did we get sold down the river by congress? I went through a bunch of congressional bills, and although I found recent bills that put the new stuff in I didn't find the bill that repealed T+3.

I got so upset I couldn't think straight enough to write the SEC at this time. I will have to calm down some first.

Please...if I missed it and somebody knows where T+3 is in the act, let me know where it is.

mig
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By tommytoyz on 7/17/2006 1:29 AM
The 1934 SEA does not specify the days needed to settle - never dis as far as I know. But that is a time frame rule made by the SRO's and approved by the SEC. The other settlement days are done in the same fashion. T+13 for instance in REG SHO.

No where is there a rule approved by the SEC that allows an arbitrary settlement date or one chosen by the seller, or something similar. FTDing beyond T+13 for anything but market making functions and block trades by exempt parties, is not permitted by any SEC approved rule.

Under the REG SHO exemption for the specialist, I think the specialist can FTD for a period of 30 days, for market making activities.

This business of FTDing as the price goes down with sell side pressure is already an argument prohibiting FTDing, as no FTDing is necessary under those circumstances even for a day to make a market by anyone as real shares are readily available to buy and deliver. No need to FTD to clear trades.

Ditto for the months on end FTDing by unknown parties.

What is in the current version of the 1934 SEA is this (17A):

The prompt and accurate clearance and settlement of securities transactions, including the transfer of record ownership and the safeguarding of securities and funds related thereto, are necessary for the protection of investors and persons facilitating transactions by and acting on behalf of investors.

AND :

The linking of all clearance and settlement facilities and the development of uniform standards and procedures for clearance and settlement will reduce unnecessary costs and increase the protection of investors and persons facilitating transactions by and acting on behalf of investors.

AND :

# The Commission is directed, therefore, having due regard for the public interest, the protection of investors, the safeguarding of securities and funds, and maintenance of fair competition among brokers and dealers, clearing agencies, and transfer agents, to use its authority under this title--

1. to facilitate the establishment of a national system for the prompt and accurate clearance and settlement of transactions in securities (other than exempted securities); and
2. to facilitate the establishment of linked or coordinated facilities for clearance and settlement of transactions in securities, securities options, contracts of sale for future delivery and options thereon, and commodity options;

ALSO (9) :

a. It shall be unlawful for any person, directly or indirectly, by the use of the mails or any means or instrumentality of interstate commerce, or of any facility of any national securities exchange, or for any member of a national securities exchange--

1. For the purpose of creating a false or misleading appearance of active trading in any security registered on a national securities exchange, or a false or misleading appearance with respect to the market for any such security,
1. to effect any transaction in such security which involves no change in the beneficial ownership thereof, or ....

So it is spelled out quite clear that the SEC is to protect investors and link settlement and clearing. They do neither of the 3. The provision are awaiting implementation by the SEC since 1934.

The SEC expressly allows delinking of settlement and clearing and protects market participants (broker dealers) rather than investors.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By anon on 7/17/2006 5:03 AM
The NJ Star Ledger, including I believe about 8 other Jersey papers it publishes ran an article Sunday entitled Get Shorty.

http://www.nj.com/business/times/index.ssf?/base/business-0/1153023389147390.xml&coll=5

If link doesn't work google exact phrase including quotes

"get shorty"
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By anon on 7/17/2006 5:09 AM
There is also an article in same newspapers you can google entitled

"critics of short selling"
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By Little Bo peep on 7/17/2006 5:53 AM
We do have some honest people in our government. Some "EGO's" are taking the rope and still eating the ice cream thinking everything will go away. Somebody IS a HELLVA lot SMARTER than I gave them CREDIT for. A nice surprise.
Keep up the good work. It is appreciated.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By daven on 7/17/2006 6:23 AM
Great article, but it talks too much about shorting when our problem is counterfeiting.

I agree with Tommy's idea that we refer to the problem as "naked selling" instead of "naked short selling".

It matches with "naked buying" (buying shares without delivering the money). For some reason naked buying isn't allowed, but naked selling is.
IV board confirmation By smuopr8r on 7/17/2006 6:48 AM
Bob- can you please confirm that you are the poster hitting the IV board under the "Easter Bunny" id? Thanks.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By Little Bo pee on 7/17/2006 6:56 AM
Appetizer always served first.

Jul 17, 2006
BOSTON (MarketWatch) -- NASD said Monday it has fined Citigroup Inc. (C : news, chart, profile ) , Credit Suisse (CSR : news, chart, profile ) and Morgan Stanley (MS : news, chart, profile ) a collective $775,00 for violations of the securities regulator's research analyst conflict-of-interest rules. NASD said it fined Citigroup $350,000, Credit Suisse $225,000 and Morgan Stanley $200,000. The firms also must review analyst notes and certify they contain disclosure of price-target valuation methods and risks, for one year on a quarterly basis, NASD said.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By mhatmccane on 7/17/2006 7:03 AM
The article was another whitewash of short selling. They refer to the "heroes" who shorted Enron early in the game but never mentioned the ones that walked away without having to settle. The term "naked" was never used. Somehow the research and journalist aspect of the game was ignored.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By justanoldfog on 7/17/2006 7:11 AM
EB, where have most of the MB posters gone to at this point? Does anyone know? I have gone over to "TheLion" and signed up there, seems very easy to use and good response times, etc. Would be willing to try other sites, but would want to be with the "old longs" where ever they went to.... "feeling lonely out here".....

foggy....
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By Sean on 7/17/2006 7:33 AM
It would seem that the Ragingbull message boards have been comprimised(sp). ANY post with negative information about Naked shorting and or Market Regulator improprieties are not readable. This started happening as of Sunday the 16th 2006.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By dn on 7/17/2006 7:40 AM
Exactly how to the Enron shorts help us, anyway?
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By clearthinker on 7/17/2006 7:45 AM
not so Sean....check the JAGH board on RB. Plenty of posts there about fighting neaked shorts and FTD's.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By Sean on 7/17/2006 9:22 AM
Thank you clear thinker you were right. This problem is only on certain boards. Here is the article that I wanted all to see!!

Feds Launch Probe of Stock Loan Abuses

By Matthew Goldstein
Senior Writer
7/17/2006 7:52 AM EDT
Click here for more stories by Matthew Goldstein




Federal prosecutors have launched a broad probe into price-gouging in the market for borrowed stock, targeting Wall Street firms that allegedly attach gratuitous finder's fees for arranging stock loans.

Among other things, prosecutors are probing allegations that employees of Wall Street trading desks are receiving kickbacks in return for lending stock, say lawyers familiar with the inquiry.

Stock lending has been a hot-button issue on Wall Street for a year, primarily for its role in an ongoing probe of short-selling abuses. But the finder's fee investigation is separate. It centers on a belief among regulators that some firms effectively impose a tax on small brokerages that are under intense pressure to locate and lend shares to hedge funds looking to make bearish bets.

The criminal investigation by federal prosecutors in New York is occurring in conjunction with regulatory investigations by the New York Stock Exchange and the Securities and Exchange Commission. The criminal probe is believed to be in its early stages, and no charges are imminent against any individuals, sources say.

A spokesman for Eastern District of New York U.S. Attorney Roslynn Mauskopf declined to comment. Also not commenting were spokesmen for the SEC and the NYSE.

Officials with Bear Stearns (BSC - news - Cramer's Take), Goldman Sachs (GS - news - Cramer's Take), Lehman Brothers (LEH - news - Cramer's Take), Merrill Lynch (MER - news - Cramer's Take) and Morgan Stanley (MS - news - Cramer's Take), all of which operate big stock lending desks, either declined to comment or said they were unaware of any criminal investigation.

The alleged improprieties that prosecutors are looking into are similar to ones outlined by the NYSE last week in a regulatory action against Van der Moolen (VDM - news - Cramer's Take), a Big Board specialist trading firm. The NYSE, in fining Van der Moolen $3.5 million, charged it with paying "unjustified finders' fees" to 29 friends and family members of its now-defunct stock-lending department.

Big Board regulators charged that the finders, all whom worked at other firms, did nothing to merit the fees they earned. The extra payments only served to "inappropriately" increase the cost of the transaction to the borrower of stock from Van der Moolen. The payments were often embedded in the fees paid by the borrower to the lender.


Go to NEXT PAGE

http://www.thestreet.com/newsanalysis/wallstreet/10296991.html

Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By Patchie on 7/17/2006 9:40 AM
tommy,

In reality, the SEC took the guidance from congress in the 34 Act and did 2 things.

1. Created the DTCC as that national clearance and settlement system.
2. Promulgated Rules 15c3-3 and 15c6-1 that defined prompt as 3-days. Unfortunately the SEC has never taken an enforcement action against these violations as the SEC claims that they do not enforce contracts which every trade theoretically becomes. i.e. they created laws and then expected the firms to police themselves.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By Little Bo peep on 7/17/2006 9:58 AM
http://www.cbsnews.com/stories/2006/07/17/business/main1807302.shtml
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By Little Bo peep on 7/17/2006 11:08 AM
Sorry bunny, just thought this was interesting.
Did I see news that someone is buying Orbitz the other day?
4.2004
CHARLOTTE, N.C.-- RCG Companies Incorporated (AMEX: RCG), announced  that Robert H. Brooks, Chairman of Hooters of America, Inc., Hooters Air and Pace Airlines, has accepted an appointment to RCG's Board of Directors. The appointment will bring the number of Board members to seven.
In addition, RCG announced it has received a $1 million strategic investment led by Hooters of America, Inc., an entity in which Mr. Brooks has a substantial ownership interest. A prominent operator of golf course and resort properties in the Myrtle Beach, SC area also participated in the investment through Creel Land Co., LLC.
Considered by many to be an icon in the food-service business, Mr. Brooks, 66, is the Chairman and majority shareholder of privately held Hooters of America, Inc., which has locations throughout the United States and the world, and revenues approaching $1 billion annually. Mr. Brooks is also Chairman and owns a majority ownership interest in both Hooters Air, a group tour operator, and Pace Airlines, Inc., a charter airline. He has also gotten involved in a variety of other ventures with the Hooters name, including the NGA Hooters Tour, a professional golf tour, and the USAR Hooters Pro Cup Stock Car Racing Series. Mr. Brooks is also the founder of Naturally Fresh, Inc., which distributes food products in all 50 states.
Under the terms of the investment, RCG issued 1,250,000 restricted shares of Common Stock and a warrant to purchase 1,250,000 restricted shares of Common Stock at an exercise price of $2.44 per share in exchange for $1,000,000 in cash and a waiver of the requirement of delivery of a letter of credit in the amount of $1,000,000 to Pace Airlines. RCG's wholly owned travel services subsidiary, Vacation Express(TM), currently charters six aircraft from Pace Airlines.
Commenting on the appointment, Mr. Brooks stated, "It is with great enthusiasm that I take on both the role of Director of RCG and as well as that of a strategic investor in the Company. RCG appears to be uniquely positioned within the leisure travel and tour industry. I look forward to assisting Mike Pruitt and working with the entire RCG management team and its Board."
Michael D. Pruitt, CEO of RCG Companies, commented, "I welcome Mr. Brooks to the RCG Board with an enormous amount of pride and anticipation. He is recognized as one of the great entrepreneurs and business executives in the United States. He brings to RCG a wealth of leadership experience and an extensive network of business relationships and contacts. He has demonstrated the ability to successfully operate significant travel and service companies. I expect that his insight, experience and business prowess will be invaluable to RCG as we execute our business plans and strategies."
About RCG Companies Incorporated
RCG Companies Incorporated ( http://www.rcgcompanies.com ) is focused on delivering to its shareholders rapidly growing, relatively low-risk revenues, along with increasing earnings per share. The majority of RCG's revenues are currently derived from its wholly owned travel service organization, Flightserv, Inc., which delivers leisure and vacation travel packages under the SunTrips(TM) and Vacation Express(TM) brands, together making Flightserv one of the largest leisure travel tour operators in the United States. RCG is also involved in the technology services sector, through its wholly owned software and information technology services segment, Logisoft Corp.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By bobo on 7/17/2006 12:28 PM
Brooks died today.

http://news.yahoo.com/s/ap/20060717/ap_on_bi_ge/obit_brooks;_ylt=Aobw4yrxLC7poQj3OlESbIKyBhIF;_ylu=X3oDMTA0cDJlYmhvBHNlYwM-

And the investorvillage.com site is now where most all of the old NFI regulars are posting. Good board so far.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By Devil's Advocate on 7/17/2006 12:52 PM
The new configuration of the Yahoo boards ARE good in certain circumstances... If you are a newbie to a board it makes it easier to see what is going on.

But for 'regulars', it SUCKS!!!!
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By sealman on 7/17/2006 1:23 PM
Re: story posted by Sean.
Whats with Matthew Goldstein, Sr. Write? Is Goldstein working for Cramer? He plugs Cramer's Take after each broker/dealer notation. One thing is certain. Cramer is in no position to give unbiased views on anything connected to NSS, price gouging for borrowed stock, FTD, Reg SHO, or investigations by the SEC, DOJ, FBI et al.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By bobo on 7/17/2006 1:35 PM
Devil's advocate: Yes, if you aren't interested in seeing posts real-time in any sort of coherent pattern, they are great.

I think one only has to go to the NFI boards and contrast the number of posts versus pre-change to see how well that has been received. Or the OSTK board, where the only ones still posting are the paid bashers.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By daven on 7/15/2006 6:28 PM
I had the same reaction - the Yahoo boards are useless now. I find it is too hard to find new posts.

RE: SEC, it makes you wonder WHY they care so much about the DTCC.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By rtway1 on 7/15/2006 3:41 PM
One thing you can do on the Yahoo board though is quickly find out how many posts someone has made on that stock. For example HAGMANSLIVER has posted over 3500 times on OSTK and over 1000 times just since June 1st. That number is staggering. Obviously a good portion of your worthless life has been spent bashing OSTK because it is your hobby or you might have other interest. These idiots are like a kid shooting off a roman candle in playground, "nobody will ever figure out what I am doing here"
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By rtway1 on 7/15/2006 3:43 PM
I do like your idea of just using this sight for communication. Yahoo serves no useful purpose when the bashers are there like cockroaches, it is like a trip to the garbage dumps to watch the rats feed. Thank God you created this site.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By rtway1 on 7/15/2006 3:59 PM
Bob, what happens next if they don,t respond in the 30 days mentioned.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By browntrout on 7/15/2006 6:29 PM
Bobo- I wonder if Gary Aguirre's sworn testimony could be introduced to the court as proof that the SEC not only fails to accomplish their Congressional mandated mission of protecting investors(NOT the mission that COX dreamed up) but they are also complicit in the fraud being perpetrated through naked shorting and other known scams. That would eliminate the argument that the SEC does already what the states want to do in enforcing laws and protecting investors.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By Short seller on 7/15/2006 6:30 PM
I have never recommended a post other than smoothjazz's dis of the new format. thenew format, I agree sucks.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By nabrum on 7/15/2006 6:31 PM
re: Yahoo sucks.
There is the alternate NFI board that could be used.
http://finance.groups.yahoo.com/group/NFI_infor_and_Opinions/messages
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By bobo on 7/15/2006 6:33 PM
Well, the court essentially threw out the rambling, odd letter that was their argument for why our Amicus shouldn't be accepted. That can only be interpreted as a massive slap in the face. My read is that if the SEC doesn't respond, appropriately, within 30 days, the Amicus briefs will be seen to carry the argument. But I'm not an attorney. I could have that wrong.

I will say that it isn't good when your letter to the court is chucked.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By mhatmccane on 7/15/2006 7:03 PM
GREAT NEWS FROM NEVADA COURTS. Thank you for your efforts.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By Wicked World on 7/15/2006 7:25 PM
BobO, Should I understand that the SEC's letter (argument?) was rejected? I know nothing of the process.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By Mississipibluffs on 7/15/2006 7:55 PM
What a dismal surprise this morning!

I sent two complaints to Yahoo, not really hoping for a response, and there has been no response.

1) The new message board was tolerable so long as I did not use it. Now it is compulsory, and I have to tell you it is a most unpleasant, unusable, NON-USER_FRIENDLY experience. I know you have received many complaints about it already, yet you have persisted in this ill-considered and unwelcome venture.

At least allow your members access to the message board format they are familiar with.

If not, there are alternative venues, and rest assured your advertisers will not be showing up on my monitor since I won't be using Yahoo.

2( In addition to my first complaint, sent you not 5 minutes ago, I find this new message board format doesn't even provide an option to add a message or even to reply another's message.

What can your web designers have been thinking? This new board format is an incredible blunder. What can you possibly think to gain by driving so many people to other sources of information?

I have since found the 'reply' button. But the instructions for starting a new thread are useless.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By mig on 7/15/2006 7:57 PM
One thing I have noticed about the yahoo board. (besides that it generally sucks) The standard for messages to view comes up as unrated or 2 stars and higher. This would mean that if people rated basher posts as one star then others would not even end up viewing those posts uless they manually change the view preference to 1 star or unrated. This could be about the only positive thing I have to say about it.

p.s. The NEW official reg SHO rules changes are posted. We all need to make comments to the SEC on this to remind them that T+3 is all congress authorized.

Here is a link.

http://www.sec.gov/rules/proposed/2006/34-54154.pdf

mig
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By mig on 7/15/2006 7:59 PM
Sorry I meant to say NEW official Reg SHO PROPOSED rules changes.
Saturday Night Ramblings By robelita on 7/15/2006 8:57 PM
Chalk up yet another week in bizarro world.

As if Afghanistan, Iraq, Iran and N. Korea weren't enough on our plates it appears we're about to revisit Israel's border clashes with Hezbollah and Hamas. A big chunk of mountainside came down in Switzerland attributed to a melting glacier which is indicative that global warming is here NOW. California is up in smoke again and it's not the Cheech and Chong version with munchies. (Fire and ice-somewhat symbolic-no?) The Dow dropped over 100 points each of the last three trading days while oil spiked to $78/barrel. A cynic might conjecture that shorting prior to the most recent hostilities might have made some people (or governments) some fast profits with summer doldrums in effect and an already jittery marketplace. (Oddly too was one major brokerage who developed "server" problems at the most inopportune moment and even more odd that it has happened before.) It's another G8 meeting-Bush and Putin are jockeying for position at the podium while the world yawns.

Managed to have time for some self-indulgence and watched "The Libertine" on DVD with the obligatory bag of popcorn. Recommend this film-not for the storyline nor even the acting (which was quite good) but rather for the biographical look at John Wilmot, the Second Earl of Rochester-an interesting writer, poet, womanizer, lush and courtisan during the reign of Charles II who died of syphillis at the age of 33. In a lampoon of his King and friend he is said to have uttered:

"He never said a foolish thing,
Nor ever did a wise one."

To which Charles II is reputed to have reponded:

"That is true; for my words are my own, but my actions are those of my ministers."

You gotta love history. Anyway, hope you all enjoyed these musings on current events. When you think things can't get much worse we have weeks like this past one. Yet, in spite of it all, I truly remain optimistic when reading this blog-knowing that there are other "libertines" in this day and age. May "the force" be with us all.

PS: Nice to see the cartoons again bobo-I've had withdrawals since Bloom County went off the air and Doonesbury alone doesn't fill the cravings ;)

HASSENPFEFFER
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By captspell on 7/15/2006 8:58 PM
Mig - Thank you for the link. I did take the time to read it. I wonder how long it will take to make it effective and if they will enforce the rules. They don't enforce the rules now so.....I was particularly pleased to finally see them put in writing: Persistant fails can be an indication of manipulative short selling....used....to drive down a companies stock price. ...... Well , no shit also, I found it rather curious that they also said: The closeout provision only targets those securities where the level of fails is VERY HIGH (my caps) , (0.5% of total shares outstanding) for 5 consecutive days....... WHAT ? 0.5% Level of fails is VERY HIGH. What the F.. . do they call 12 % then ? And have not done anything about it for over a year?. I call it facilitating fraud. Anyway, we shall see. We shall see. Can't happen soon enough to suit me.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By clearthinker on 7/15/2006 10:39 PM
we don't need new rules...we need enforcement of the old rules....and we need ex-clearing fails to be cleaned up and bought in....

public comment period....do we need a public coment to see if fraud is still a bad thing...?

O My Gawd......
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By daven on 7/16/2006 6:46 AM
Catspell, I could be mistaken, but I think the .5% is at a single clearing brokerage. The real short could be much higher than .5%.

I think that may be one way they get companies off the list - just split the fail across two or more clearing brokerages.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By hemingway811 on 7/16/2006 8:36 AM
Wapti126 voiced a concern about us getting scattered all over the net trying to find alternative MBs. I share that concern. I am also concerned about how long we can continue to use the alt MB at Yahoo in its current format.

I would also prefer not to patronize Yahoo. Actually, I would like to boycott them for ruining the MBs for us.

I just registered at investorsvillage. Registration was a breeze. It's an investor website and now has a MB dedicated to NFI.

IV has all the features we've become accustomed to at the old Yahoo MB. And best of all, the posts are in order and are threaded the way Yahoo used to do it.

Would anyone else like to give it a try?

investorvillage.com/smbd.asp?mb=4148&pt=m

Do not use www
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By bobo on 7/16/2006 8:46 AM
Wicked: The SEC sent a largely rambling and incoherent letter to the court clerk, which violates virtually every court protocol I can think of. The court wisely rejected acceptance or acknowledgement of the letter and its arguments, and returned the letter to the SEC, as if unopened.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By Wicked World on 7/16/2006 9:43 AM
BobO, Thanks. I just noticed that I had overlooked the link you provided above.

Looks like IF the SEC responds the court is expecting the response to be expressly towards points made by NCANS and NASAA.

Is that your take?
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By mhatmccane on 7/16/2006 10:20 AM
Just tried investor village and it has great features. A little slow now, but the admin sent out a message about surge in traffic and they're working on it. Could be a real winner.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By Niel Storts on 7/16/2006 10:26 AM
"Bob". In order to re-establish communication, when there is a message board alternative settled on POST a link here as a special blog. Shared knowledge is our greatest asset. Losing it will do us all harm. Keep up the good fight.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By Bobo on 7/16/2006 12:24 PM
Niel:
Agreed. My webmaster is evaluating other MB modules for one that would allow us to create yahoo-type boards for our stocks - NFI, OSTK, maybe a few others. I am hopeful.
Re: Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court By mig on 7/16/2006 1:43 PM
When our Yahoo board went down for a couple months last fall we all temporarily went to ragingbull. It wasn't too bad except there was no way to recommend posts.

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