Here is to all the "Bashers" who visit this great example of why the SEC is inept and corrupt.
More like watching a perpetual train wreck.
Anyway, the name may change, and even the main players, but the mission statement remains the same.
Retain those entitlements and perks as long as the SCAM can run, and stay out of jail.
ISC8 is gonna make sure we don't sit in the dark!
If you're smart, stock up on candles.
WHAT A SCAM
Another "private placement" under a different name, but it is still DILUTION.
"The issuances of Common Stock described in this Current Report on Form 8-K have been determined to be exempt from registration under the Securities Act of 1933"
WHAT A SCAM
Corzine may have been 'arbitraging' the back office and underlings may tell the truth. Wouldn't that be something...
Kotz is controversial and is on his way out. Anyone who is effective ends up leaving after a short time. Should be in the news tomorrow about Kotz leaving.
Look what the WSJ is reporting about FINRA. Seems the US Supreme Ct., authors of the "Citizen's United" case is insulating them from lawsuits:
By ANDREW ACKERMAN
"WASHINGTON—The Supreme Court on Tuesday refused to consider an appeal that questioned whether the Financial Industry Regulatory Authority and other so-called self-regulatory organizations are immune from private lawsuits.
Self-regulatory organizations carry responsibilities for supervising market activity at a more granular level than the Securities and Exchange Commission, which oversees them.
Critics have warned these quasi-government agencies have become abusive and unaccountable to the public. Though the self-regulators are private organizations, they generally enjoy absolute legal immunity for activities related to their government-delegated regulatory authority.
The high court rejected a challenge brought by Standard Investment Chartered Inc., a small California broker-dealer. Standard Investment was challenging the legality of a 2007 merger that created Finra, when the National Association of Securities Dealers purchased the regulatory arm of the New York Stock Exchange.
Lower courts dismissed the case, ruling that Finra, which oversees nearly 4,600 brokerage firms, has broad immunity against lawsuits. Standard, however, argued that Finra shouldn't have absolute protection from lawsuits, particularly for alleged conduct that isn't directly related to its regulatory functions...."
H David Kotz, the SEC inspector general, said that the Justice Department settlement “sends a strong message that former federal officials cannot abuse the public trust by attempting to profit personally from matters on which they worked as government servants before joining the private sector.”
I think the guy probably made 5x what the fine was at least.
The SEC is inept and corrupt.