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VA Introduces Bill Requiring FTDs to be Reported

Location: Blogs Bob O'Brien's Sanity Check Blog    
Posted by:   bobo 1/17/2007 12:20 PM
 

  -----------------

Sign the Market Reform Petition Now!: View it here. Over 3000 folks already have. Make your voice heard.

To view the SIA NYSE member firm spreadsheet showing $63 billion in delivery and receipt failures as of Q2, 2006, click here.

Visit the new "SEC/Gary Aguirre Cover-Up" section of this site for a compilation of Mr. Aguirre's efforts to expose the SEC's alleged obstruction of justice and whitewashing of insider trading by some of the biggest names on Wall Street.

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

UPDATE: Senator Potts, who sponsored the VA bill, pulled it within 3 hours of this blog being written. His staff said it was due to "requests of constituents." So, what "constituents" are against transparency in the markets, and disclosure of who is taking investor money and failing to deliver the shares purchased? I wonder. Who would lose from that bill going to the floor? Hmmmm. At least we are all now seeing exactly how the system works - the best politicians money can buy.

I am sickened, as usual. This is so blatant it stinks.

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

VA introduced a bill that will require brokers to report any FTDs to the state, or pay a grand a day fine for failing to do so.

This is now the third state to introduce anti-NSS legislations - Utah was first, Arizona recently also did, and now VA.

I wonder when Congress is going to figure this out? Will it take a couple more, making it 10% of the states, wanting to put a stop to this? 20%? 30%?

Wall Street has been scamming US citizens with bogus chits rather than genuine stock, and the states are figuring it out, and doing what the SEC refuses to do - demanding disclosure and transparency, and setting the brokers up to be sued out the ying yang for duping investors.

You can probably hear the screaming from the industry already.

A source confirms that there will be quite a few more of these bills hitting over the next few months, so I think it is safe to say that this cat is out of the bag.

Read the bill here.
Copyright ©2007 Bob O'Brien
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Comments (57)
Re: VA Introduces Bill Requiring FTDs to be Reported By snoozern on 1/17/2007 12:59 PM
Once is an accident.

Twice is coincidence.

Three times is enemy action.

Hope you are feeling vidicated. you deserve it.

Please don't rest on your laurels, though.

Regards,
Rick
Re: VA Introduces Bill Requiring FTDs to be Reported By stryker-ny on 1/17/2007 1:00 PM
Bunny...USXP is suing the SEC for punitive and compensatory damages, I believe. If they are successful, look out Regulatory agencies. There will be a class action lawsuit aka Quinn Law Firm, that will make the Tobacco settlement small potatos....
Re: VA Introduces Bill Requiring FTDs to be Reported By Wonder Boy on 1/17/2007 7:14 PM
I found this. Now I am wondering WHERE the pressure is actually coming from. Perhaps the SEC is somehow attempting to protect themselves from the exposure they will get if and when the truth comes out?


FBI, FEMA move some operations outside 'strike zone' to Va.

Associated Press Dec 26, 2006


WINCHESTER, Va. - The FBI and the Federal Emergency Management Agency are moving jobs to the Shenandoah Valley _ a picturesque locale that happens to be just outside Washington's "blast zone."

In the event of a nuclear explosion in the capital, Winchester's location about 70 miles from Washington would put it outside the fallout zone, often estimated at 50 miles. At the same time, employees could easily travel to Washington when they need to.

The FBI chose Winchester, a city of 26,000, over other towns of similar distance from Washington for a big centralized archive that by 2009 will employ at least 1,200 people, many of them now working in Washington and Baltimore. Some employees already are working in a temporary center outside Winchester.

Meanwhile, FEMA has chosen a farm just outside town for an operations center that will employ 700 people. Local officials say it will include positions moved from Mount Weather, the government's hilltop emergency center on the border of Loudoun and Clarke counties.

The trend is happening elsewhere in the region as well. Outside Martinsburg, W.Va., the Coast Guard is building a new National Maritime Center, a 200-person office currently located in Arlington. In Washington County, Md., near Hagerstown, the government is redeveloping the vacant Fort Ritchie to house national security jobs.

Advocates of "smart growth" argue that moving government jobs to the valley will cause sprawl and warn that the growth could threaten the rolling Piedmont that acts as a buffer between development in northern Virginia and the Interstate 81 corridor.

"Where's the public debate, the elected officials' oversight? This level of dispersal didn't even happen at the height of the Cold War," said Stewart Schwartz, director of the Coalition for Smarter Growth. "We ought to have an open dialogue about what the real threats might be and whether this dispersal is necessary."

Federal officials defended the moves.

"For any government agency looking at a new facility in this day and age, of course, security is going to be a priority," FBI spokeswoman Cathy Milhoan said.

The shift already is having an impact on the valley. Real estate agents and developers are buying up land along the half-dozen highways that ring Winchester in anticipation of contractor jobs and other activity that they expect will follow.

___
Re: VA Introduces Bill Requiring FTDs to be Reported By Craig on 1/17/2007 9:56 PM
Looks like senator Potts wasn't the best candidate to put forward that watered down Naked Short Selling Bill.

The fight against naked shorting will only be over when all naked shorting has stopped including naked shorting allowed by the Market Maker's exemptions:

Puts that are sold are covered 100% by reserved cash and not hedged by a naked short.

calls that are sold are covered by real stock

Perhaps a Democrat like Dick Saslaw is that man for the job. Last year after I confronted, griping about all the oil company mergers and the apparent lack of competition and capitalism - sounds like Standard Oil all over again, my congressional rep at my communty's yearly meeting who gave me some sob story about the limited supply of oil. Dick, who owns gas stations, agreed with me that the oil industry is corrupt with schmucks marking the price of their oil to match what our OPEC friends decide to charge. Very little oil is actually sold on the spot market.

WE need to pursue different avenues but first we need to find out specifically why Potts pulled the watered down bill back.

Keep the faith!
Re: VA Introduces Bill Requiring FTDs to be Reported By manny on 1/17/2007 10:06 PM
Don't underestimate the power of the masses.

We need to find a way to explain to the masses how the few are ripping off the many.

The many are always in charge in a democracy.
Re: VA Introduces Bill Requiring FTDs to be Reported By mhelburn on 1/18/2007 2:13 AM
The many are always in charge in a democracy....
Manny, that is the way it is supposed to be... but remember the Golden Rule.. Thems that got the gold, rule. We have seen time and time again, decisions and goodies are delivered to those who pay up front and have the money to peddle influence. The amounts that are paid are a pittance to the costs to the country. There was a score this week when pork-barrel add-ons will have the stamp of the author in the bill. When we see both sides of the aisle come together to give some transparency and try to thwart what the majority sees as bogus spending, it is a win for us. The Senate bill was watered down with a small portion of the ear-marked spending needing signature, whereas, the House bill was all inclusive. The House bill form was finally accepted... Yea! Team! Still have to get past the White House. Maybe the mid-term elections sent the much needed message that we want a change and it is not business as usual on Capitol Hill. I should sign this -- Pollyanna
Re: VA Introduces Bill Requiring FTDs to be Reported By Get Shorty on 1/18/2007 2:42 AM

http://www.haas.berkeley.edu/finance/shortliq.pdf
Re: VA Introduces Bill Requiring FTDs to be Reported By searrows on 1/18/2007 3:52 AM
Maybe we should bring this to the attention of the most unsavory polititians domiciled in our local statehouses and suggesting that it might be profitable for them to do so.... I suppose Wall Street might just go on the offense and try to buy every minor legue money grubbing politician in the heartland.
Re: VA Introduces Bill Requiring FTDs to be Reported By GTCB on 1/18/2007 3:58 AM
This is from a Yahoo post.

"Interesting enough my bank informed all investors last week that as from March 5th they are not any more allowed to get credit on stocks other than those belonging to the main indices. In other words, they force retail investors to sell their shares in small funds. I am fighting this decision a.o. at the Dutch supervisory authority exactly with the argument of possible collusion, given the naked short selling, which has been rampant during the last years."
Re: VA Introduces Bill Requiring FTDs to be Reported By William Penn on 1/18/2007 4:27 AM
http://www.thedenenbergreport.org/article.php?index=970

"DENENBERG ASSAILS MAINSTREAM MEDIA FOR FALLING UNDER THE INFLUENCE OF ADVERTISERS AND FOR COVERING TRIVIA WHILE NEGLECTING MAJOR ISSUES OF OUR TIME"


"The consumer has been screwed long enough"
- Herb Denenberg

Herb Denenberg served as Pennsylvania Insurance Commissioner, Pennsylvania Public Utility Commissioner, and Professor at the Wharton School of the University of Pennsylvania before becoming a consumer and investigative reporter for network owned television stations and more recently two cable systems.
Click here for Herb's full Bio

http://www.thedenenbergreport.org/#top
Re: VA Introduces Bill Requiring FTDs to be Reported By honkytonker on 1/18/2007 6:54 AM
Bobo, The expression "the cat is out of the bag" is actually an old seafaring expression. Refers to the cat-o-nine-tails being readied for action. A boy can dream, eh? Don't want to seem mean-spirited or uncivilized, but a public flogging or two might be more of a deterrent than some little mouse-nuts fine that is never actually collected. Bah. Humbug.
Re: VA Introduces Bill Requiring FTDs to be Reported By THESECISAJOKE on 1/18/2007 7:18 AM
Look at CVM stock gets phase 3 approval from FDA on Head and Neck Cancer drug.The stock goes up a measly 15 cents to 78 cents and the naked shorts pound it right back down on an unlimited supply of stock..So not only are the crooks naked shorting stocks their killing people who could be cured of head and neck cancer..I called the SEC and their answer was its not on REG SHO what a joke... Ya everybodys looking to sell a stock up 15 cents because they might have the cure for cancer..Shows you how corrupt the system is..Id like to know why it took the FDA 27 months to give them approval for phase 3 with no safety problems..If it was Merck Or Bristol Meyers they would have been in phase 3 24 months ago..Just all part of the crooked conspiracy and how Goverment officials are bought and paid for..Its a disgrace that the SEC is supposed to protect americans they should be tried for killing people..Another David S pipe financing.. The guy did pipe financing for 88 companies and 86 are out of business CVM and TFSM being the sole survivors my 3 year old could pick stocks better that MR SCUM S but the SEC claims hes just a bad stock picker ya right..86 out of 88 companies bankrupted due to his pipe financing..By accident or design u tell me..The SEC is a disgrace
Re: Levitt recoils (I wonder what skeletons he has in his closet) By Yoda on 1/18/2007 7:32 AM
Levitt Accuses Grassley of Going on `Witch Hunt' (Update1)

By Brian Sullivan and Nadine Elsibai

Jan. 18 (Bloomberg) -- Former Securities and Exchange Commission Chairman Arthur Levitt today accused Senator Charles Grassley of pursuing a ``witch hunt'' against the SEC.

Levitt, 75, who was SEC chairman from 1993 to 2001, said Grassley has no evidence to suggest that the agency bowed to political pressure in its handling of accusations of malfeasance by Morgan Stanley Chief Executive Officer John Mack.

The ``culture of that commission defies these charges,'' and ``the enforcement division never has yielded to political pressure,'' Levitt said in an interview.

Grassley, Republican of Iowa, said in an interview that he still believes the SEC didn't properly investigate charges against Mack because he is a ``big political powerhouse.''

Link to full story: http://www.bloomberg.com/apps/news?pid=20601087&sid=aXRJFhCUThqI&refer=home
Re: VIP Constituents in VA By jfarn on 1/18/2007 8:08 AM
Bud, thank you for alll of your work and I wish you a speedy recovery. Curious to ascertain who exactly the client was that you spoke with and about the raft of documents that have surfaced from discovery. Investigation and impending interpleader are very important to what is coming down the pike. Hope your privileged information came as a result of your most recent analysis on CFRN with regard to CMKX. Surprised a bit that you were given a sneak peak after that interview?

With regard to VA. pulling its bill: funny who the define as constituents these days.

E*TRADE Bank
Ballston Tower
671 North Glebe Road, 12th Floor
Arlington, VA 22203-2110


[E* TRADE FINANCIAL LOGO]
Ballston Tower
671 North Glebe Road
Arlington, VA 22203

May 3, 2004

VIA EDGAR

Last October, the Arlington Fiscal Affairs Advisory Committee recommended that the county use its surplus to cut real estate taxes. The committee was ignored.

Instead, County Board members voted unanimously to give E-Trade Bank $675,000 over the next five years just to stay in Arlington, as well as another $150,000 to pay for the bank's move to Ballston Tower.

Can't wait for the show. Thanks again Bud.

JF
Re: VA Introduces Bill Requiring FTDs to be Reported By piddly_sum on 1/18/2007 8:39 AM
re: witch hunt

Hmmmmm, Grassley must be making progress!
Re: VA Introduces Bill Requiring FTDs to be Reported By hush money on 1/18/2007 9:14 AM
We will pay you more if you hush and let us continue to steal / rape from the poor working class. Trust us. IMO


One of the largest hedge funds in the world is creating a team equipped with considerable resources to make bets on Washington-based political intelligence, including tips gathered on and off Capitol Hill.

SAC Capital Advisors, the Stamford, Conn.-based fund run by billionaire trader Steven A. Cohen, talked to sources in the capital about setting aside up to $1 billion for the venture, a move that underscores the importance of Washington to Wall Street.


http://www.hillnews.com/thehill/export/TheHill/News/Frontpage/011707/sac.html
Re: VA Introduces Bill Requiring FTDs to be Reported By Sue on 1/18/2007 9:28 AM
Heck, maybe congress can just tell Stevie what they are buying and selling after their caucuses, seeing as have they have no restrictions on their own trading on inside information.
Re: VA Introduces Bill Requiring FTDs to be Reported By virakiller on 1/18/2007 9:38 AM
will these EVER end ?
how can the continue these crimes against our country ?
Re: VA Introduces Bill Requiring FTDs to be Reported By another good corporate leader on 1/18/2007 9:44 AM
Former Cendant Corp. Chairman Walter Forbes was sentenced Wednesday to 12 years and seven months in prison and ordered to pay $3.275 billion in restitution for leading the largest accounting fraud of the 1990s.

http://www.latimes.com/business/la-fi-

cendant18jan18,1,7663114.story?coll=la-headlines-business
Re: VA Introduces Bill Requiring FTDs to be Reported By gregcable2002 on 1/18/2007 9:50 AM
virakiller,as long as 95% of americans have american Idol to watch who cares?
Re: VA Introduces Bill Requiring FTDs to be Reported By gregcable2002 on 1/18/2007 9:52 AM
give me my free food stamps and free medical,government subsidised housing I'm good to go.
Re: VA Introduces Bill Requiring FTDs to be Reported By gregcable2002 on 1/18/2007 10:04 AM
oh,and god help the fools who try to get between me and my free entitlements.
Re: VA Introduces Bill Requiring FTDs to be Reported By USA leaders at work on 1/18/2007 10:06 AM

R. Hunter Biden, a Washington lobbyist and son of U.S. presidential candidate Senator Joseph Biden, stepped down from daily management of Paradigm Global Advisors LLC, which he owns with his uncle, James Biden.

Paradigm, a New York-based firm that has invested $500 million of its clients' money in hedge funds, named Charles Provini, 60, president. Biden, 36, took over as interim chief executive officer in May before buying a majority stake with James Biden, 57, the brother of the Democratic senator from Delaware.

http://www.bloomberg.com/apps/news?

pid=20601109&sid=aKJhGIn.Z1O4&refer=home
Re: VA Introduces Bill Requiring FTDs to be Reported By who cares? info steal or sell? on 1/18/2007 10:19 AM
Millions of credit card accounts may have been compromised after hackers stole customer information last year from computer systems of TJX Cos., the U.S. parent firm of Canadian retailers Winners and HomeSense.

TJX, which is based in Framingham, Mass., confirmed Wednesday that some customer information has been stolen from its systems, but the company said the full extent of the theft and number of customers affected are not yet known.

http://www.cbc.ca/canada/story/2007/01/18/winnersbreach.html
Re: VA Introduces Bill Requiring FTDs to be Reported By cynabear on 1/18/2007 2:20 PM
Grassley on a witch hunt!!!!!!!! yeah can we join him??? is it like an easter egg hunt where you find the eggs and step on them? ....sorry just tired while being on the edge while NFI drops 30% due to illegal market manipulation

I should hope it is like a witch hunt for the bad guys at the SEC and those that collude with them....
Re: VA Introduces Bill Requiring FTDs to be Reported By Patchie on 1/18/2007 6:45 PM
From an associate who spoke to Pott's Office

"It is a weird situation. I spoke to Potts legislative aid, and from what she said the Senator introduced the bill without looking at it very carefully. Then he got a number of phone calls, no doubt from the industry, and withdrew it. The aid said the issue was too complicated and best left to the Feds.

I've never heard of legislation being introduced on behalf of a constituent, without the legislator knowing what it's about. So I suspect something funny happend as well."
Re: VA Introduces Bill Requiring FTDs to be Reported By Observer on 1/18/2007 8:57 PM
Why are these comments not in Chronological order?

Also, it took a day for this blog to appear on My Yahoo.

-Just trying to improve this incredible resource. Thanks.
Re: VA Introduces Bill Requiring FTDs to be Reported By Wonder Boy on 1/18/2007 9:22 PM
I would almost bet that MANY cases against broker-dealers could be brought under the current laws of the different states. The judgements would probably not be great, but the losses, some interest, and attorney fees would be recovered in many cases. Perhaps the onslaught of many smaller cases from various parts of the country would garner some attention. At least it would be a pain for Wall Street.
Re: VA Introduces Bill Requiring FTDs to be Reported By Allan Treffry on 1/19/2007 8:33 AM
I called Senator Pott's office. The secretary said that Potts was given several requests by "constituents" to dump the bill and since litigation already exists in Utah and that the SEC is already addressing the matter, they did not want to have a federal injunction granted against the bill until the matter was resolved in the Federal Courts. As if having all 50 states indivudually pass the law against naked shorting would not place pressure on the feds to follow suit! What a bunch of currupt jerks!

I gave her a ration of shit about permitting the counterfeitters to run the show and that the only possible people who are complaining are the crooks. Further, it is not only the white collar crooks in this country to be stealing from us, it ranges from the mob to the terrorists, funding them to killour brave soldiers. She continued to feign ignorance on the issue. Unreal.. these idiots are selling our nation down the river.

We need a revolution and we need it soon. Now, congressional leaders have said that the new congress will not build a fence along the border. What the hell are they trying to do to this nation? I guess we may have won the battle in bringing down the Berlin Wall, but the America-haters are going to win the war and destroy America in the long run. Disgusting!
Re: VA Introduces Bill Requiring FTDs to be Reported By gregcable2002 on 1/19/2007 6:59 AM
wonder boy,the more publicity this issue gets the better,remember,these crooks hate any light that finds it's way into their secret world of the FTD.All we need is one state to enforce the law and it's game over for these crooks.
Re: VA Introduces Bill Requiring FTDs to be Reported By oldfeller on 1/19/2007 9:03 PM
I agree Patchie, the sudden about-face and pulling the bill will draw more attention than if it had failed on it`s own merits.
Grandfather Clause rescinded? By robelita on 1/21/2007 8:24 PM
http://www.whitehouse.gov/news/releases/2007/01/20070118.html

Some reading this seem to think so.
Re: VA Introduces Bill Requiring FTDs to be Reported By Bob's Board is Dead on 1/25/2007 7:59 PM
Fading off into obscurity, good riddance
Re: VA Introduces Bill Requiring FTDs to be Reported By piddly_sum on 1/17/2007 1:12 PM
Yes Virginia, there is an Easter Bunny.
Re: VA Introduces Bill Requiring FTDs to be Reported By mhelburn on 1/17/2007 1:13 PM
Flaw in bill... excludes exemptions found in reg SHO.... If the Feds don't remove the grandfathering and mm exemptions and the States don't get tougher standards than that, we will still be short-changed.
Re: VA Introduces Bill Requiring FTDs to be Reported By NEWSPAPER on 1/17/2007 1:30 PM
Bobo why are the states doing this?

1- do they finally realize how corrupt the SEC is?
2- do they finally realize that one of the biggest cash cows in the world (wall street) is self regulated?
3- do they finally realize that since the SEC does not punish (the self regulated) Wall Street which is rife with corruption they can?
4- do they finally realize the states can come in and fine wall street meaningful amounts for wrongdoing?
5- Do the states realize just how corrupt the system really is that they are being forced into action for the good of their citizens?

If the states fine Wall Street meaningful amounts for wrongdoing they can do a good deed and fill their coffers!

Bobo why are the states at the forefront of this? When no media will report this fairly- when no SEC official will come out and state just how broken the system is- how did the States figure out they have to act on this FTD NSS issue?

I admire and credit the States for taking this action but I am puzzled why they are doing it?

The only reason I am asking this is because I am just so jaded and worn down that I thought no one would do anything about this issue.
Re: VA Introduces Bill Requiring FTDs to be Reported By bobo on 1/17/2007 1:39 PM
Newsflash: The VA senator (Senator Potts) just withdrew the bill. His staffers won't say why.

Wonder who called who and said what?

Not to worry, there's plenty more where that one came from.
Re: VA Introduces Bill Requiring FTDs to be Reported By Iona Hogbin on 1/17/2007 1:47 PM
This is good news! Remember the headline in the Salt Lake Tribune:

Brokers in tizzy over Utah trading bill

So now we get to say it three times!

Brokers in a tizzy! Brokers in a tizzy! Brokers in a tizzy!
Re: VA Introduces Bill Requiring FTDs to be Reported By Iona Hogbin on 1/17/2007 1:49 PM
Oh, I guess the tizzies got to VA already. Glad to hear there will be more.
Re: VA Introduces Bill Requiring FTDs to be Reported By newspaper on 1/17/2007 1:52 PM
Ok now I depressed again. When I wrote that note I did not know that VA withdrew the bill.

I was shocked that the States were taking meaningful action when no one else was.

And now just like that one State who seemingly found their voice and tried to do the right thing must now scurry away and cower in some corner.
Re: VA Introduces Bill Requiring FTDs to be Reported By Wonder Boy on 1/17/2007 2:07 PM
I just got off the phone with Potts' office. I was told the bill was pulled "due to the request of constituents", but they would provide no names.
Re: VA Introduces Bill Requiring FTDs to be Reported By my constituant itches on 1/17/2007 2:11 PM
Whenever I dont wash well or its been a long day in the trenches my constituant really itches. can someone provide me with some advise on what to do?
Re: VA Introduces Bill Requiring FTDs to be Reported By mhatmccane on 1/17/2007 2:23 PM
Well, if Potts got some significant campaign contributions, how many other VA
lawmakers will be able to introduce and then withdraw the bill? Might as well
get the money flowing to the States in addition to Wall Street and Washington DC.
Re: VA Introduces Bill Requiring FTDs to be Reported By Beatles Fan on 1/17/2007 2:31 PM
You never give me your money,
You only give me your funny paper.
And in the middle of negotiations you break down.
Truth is stranger than fiction! By Jen on 1/17/2007 2:33 PM
Hi, there are more bizare and stranges twists to reality you must check this out it is true in all of N.America... www.theclassactionsuit.com

I advise anyone and everyone to go to Google Video and watch Alex Jones video's then go and watch David Icke's stuff agree or disagree there are many facts that are verified. Then I guess we can go watch T.V. again...?
Re: VA Introduces Bill Requiring FTDs to be Reported By Jimbo on 1/17/2007 2:49 PM
Did Virginia write bull across the top?
Re: VA Introduces Bill Requiring FTDs to be Reported By Patchie on 1/17/2007 3:13 PM
Nobody spends the time to prep a bill and then immediately recind it because of a few constituent calls unless those constituents are Wall Street companies that pay your campaign bills.

This is actually good because it shows how much Wall Street can buy including laws. At some point others see what we see.
Re: VA Introduces Bill Requiring FTDs to be Reported By Old Vigrinny on 1/17/2007 3:46 PM
Isn't Virginia right next to Washington and don't the Senators and Representatives of Congress live in Virginia?

How embarrasing that would be!
Re: VA Introduces Bill Requiring FTDs to be Reported By Old Vigrinny on 1/17/2007 3:49 PM
Oh I forgot... isn't the SEC in Washington right next to Virginia? Hmmmmmmmmmm?
Re: VA Introduces Bill Requiring FTDs to be Reported By piddly_sum on 1/17/2007 3:55 PM
Looks like this guy's district is in Winchester, not exactly a DC suburb. I would think there wouldn't be too many voters in western Virginia that support Wall Street fraud.
Re: VA Introduces Bill Requiring FTDs to be Reported By browntrout on 1/17/2007 4:00 PM
I bet that head fake just got the good ole boy some nice fat contributions or promises thereof. This guy's got more fleas than any dog that I have ever seen.
Re: VA Introduces Bill Requiring FTDs to be Reported By bbhindyou on 1/17/2007 4:07 PM
mhatmccane isn't it wonderful how all officials who can sponser any type of bill to stop stock counterfieting/failure to deliver have such a rich source of campaign contribution now?
Sponsoring and canceling a proposed regulation of naked short selling could be the political/financial move of a lifetime.
Hedge fund buddys to fund campaign war chests to the brim are GREAT.
Don't delay, be the first politician in your district to get one TODAY!
What a country!
I want to be able to sponsor a bill too!
Re: VA Introduces Bill Requiring FTDs to be Reported By mhelburn on 1/17/2007 4:09 PM
Maybe the bill was premature... and the constituents pointed out it is useless with the Reg SHO exceptions. Maybe the fines weren't high enough... Don't prosecute the guy until we know for sure he is on the take.
Re: VA Introduces Bill Requiring FTDs to be Reported By Catfish on 1/17/2007 4:31 PM
Seems Potts isn't popular with everyone in Virginia:

http://www.recallpotts.com/
Re: VA Introduces Bill Requiring FTDs to be Reported By Paladin on 1/17/2007 4:33 PM

mhelburn: Good points! Hopefully that could be it.

But.... until then, this bill retraction remains a failure-to-deliver!
Re: VA Introduces Bill Requiring FTDs to be Reported By Patchie on 1/17/2007 4:58 PM
my bet...Potts got the "payoff" for the SIFMA/Wall Street to back off. But then again they are all about the rights of the individual constituent/investor.

I could not call up 1000 of my friends and have them call Potts to get this recinded. It therefore takes money to make such an about face. The right politician will have a field day with this.
Re: VA Introduces Bill Requiring FTDs to be Reported By hwh on 1/17/2007 6:28 PM
Accolades to all and particuliarly, BOBO. Courts move at a snails' pace, especially cases with the immense complicity and extreme implications for the country & world. You guys are making a difference. Hang in there...hwh

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