torsdag 21 maj 2009

Securities Exchange Comission

Mary Schapiro
Dear Editors,On April 20, 2009 CNN Money issued a special report "Judge blocks Madoff bankruptcy" [1] stating

"A federal judge Monday blocked Bernard Madoff's assets from being moved into bankruptcy, saying there is probable cause the assets should be forfeited to the government".

Forfeited to the government for the pro bono, or common purpose? This smells like the biggest Communist stitch-up game in history to steal private property. Rumors go that Madoff [5] has been working hand in hand with the SEC, to pull that off, ever since 1993, when Mary Schapiro (NOT Shapiro) [2] abandoned SEC Rules and instituted SEC Guidelines [3], to prepare for a "DERIVATIVES REVOLUTION AND WORLD FINANCIAL SYSTEM" [4].

See also :

"Schapiro was appointed in 1988 by President Reagan to fill one of two Democratic seats on the SEC. President George H. W. Bush reappointed her to this position in 1989. In July 1990, then-Commissioner Mary L. Schapiro was appointed chairman of the Task Force on Administrative Proceedings ("Task Force" or "Schapiro Task Force"). The Task Force ultimately determined that it would be necessary and appropriate to revise completely the entire Rules of Practice. In March 1993, the Schapiro Task Force issued its final report, Fair and Efficient Administrative Proceedings ("the Task Force Report"). On Nov 22, 1993, SEC published in the Federal Register a release proposing to adopt the Schapiro Task Force's proposals pertaining to the Rules and asking interested persons for comment, and later adopted as SEC guidelines [3] on June 9, 1995. In October 1993, Schapiro held a speech "THE DERIVATIVES REVOLUTION AND THE WORLD FINANCIAL SYSTEM" [4] in Lugano, Switzerland. President Clinton appointed her as acting chairperson of the SEC, and then appointed her chairperson of the Commodity Futures Trading Commission in 1994."

Yours sincerely,Robert-- Robert M. Stockmann - RHCENetwork Engineer - UNIX/Linux

[1] "Judge blocks Madoff bankruptcy"By Amy Sahba, CNN, April 20, 2009: 2:32 PM ET

[2] "THE SELLING OF MARY SCHAPIRO,Obama SEC choice more of the same wrapped in rhetoric of change"by Matt J. Stannard, 26 February 2009 (type Cntrl--- or Cntrl-++ to adjust fontsize to read this one)

[3] SEC guidelines, Rules of Practice,RIN 3235-AF91, [Release No. 34-35833; File No. S7-40-92]

[4] "THE DERIVATIVES REVOLUTION AND THE WORLD FINANCIAL SYSTEM"Eighth Annual Symposium, for the Foundation for Researchin International Banking and Finance, Lugano, Switzerlandby COMMISSIONER MARY L. SCHAPIRO, SEC, October 14, 1993,

[5] "THE MADOFF CHRONICLES" (C)BLOOMBERG.COMby R.M. Stockmann, Thu, 18 Dec 2008

Visserligen är hela derivat markanden i princip helt oreglerad, visserligen togs beslut som ex Glass-Stegal act som minskade SECs möjligheter att ingripa med där de hade mandat ex vad gäller sk short selling på aktiemarkanden och annan översyn inte minst madoffs skandalen har denna myndighet varit lamslaget passivt.

Christopher Cox
A Los Angeles Times analysis of his chairmanship noted it will be characterized by missing the signs that Wall Street was poised for meltdown, and that while "many observers say it isn't fair to blame him or the SEC for the widespread problems," others "are less charitable, saying Cox's long-standing support of a deregulated market and friendliness to business made him the wrong SEC chairman at the wrong time."[116]
In a review of his tenure published at the time of his departure, Bloomberg News quoted Robert Hillman, who teaches securities law at the University of California, Davis,[117] as saying, "He may go down as the unluckiest of the SEC chairmen. ... He was slow to recognize the deteriorating position of brokerage firms. In that sense, he bears joint responsibility with the Secretary of the Treasury and the Federal Reserve chairman." [118] Time magazine critized his tenure, blaming him for both the agency's response to the financial crisis and its failure to uncover Bernard Madoff's fraud.[119]

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