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10:13PM (15 mins delay)
Nov 06, 2009 - 5:31 AM EST
Jim Gobetz submits:The SEC led by its new Chairperson Mary Schapiro is attempting to refurbish it’s reputation and taking an aggressive stance against Insider Traders and malignant Hedge Funds and this is no doubt a good thing. But it will protect a handful of accredited rich guys and a few big companies who allegedly should know better than to get burned by these nefarious characters. Heck I have heard members of Congress and Business calling for the legalization of insider trading similar if not identical to what this latest batch of arrestees is accused of.
How about the SEC make a name for itself again amongst the little guy? Anybody with an E-mail address has been targeted by penny stock pump and dumpers, stock picking robots, and other fool proof investment scams. They populate the twitter world, the blogosphere and worst of all the Stock and Investment forums. Folks that set up hundreds of internet identities, websites, and phony public relations outlets designed to influence the price of a stock, or just take the money of the unsuspecting.
Source: Seeking Alpha (Nov 06, 2009 - 5:31 AM EST)
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