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Optionable Inc. Message Board

  • djasking djasking Jan 14, 2010 7:13 PM Flag

    Glad to see some familiar posters

    Haven't followed the story closely lately, but sure is a good one. I still can't believe NMX made the investment they did when they did, it sure seemed like things were looking up back then. Personally I think OPBL and Cassidy were complicit in this fraud, too much was staked on plausible deniability. Make or break customers get a lot of attention. Regardless BMO should accept more responsibility for their own poor controls and realize that their actions ruined OPBL, not the other way around.

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    • Well, i guess you are basing your opinion that Cassidy and company were complicit in the fraud on a "feeling" because if you follow the evidence, it is ALL BMO. Deloitte report completely exonerated Cassidy as far as I'm concerned. BMO had several risk mgmt breaches, panicked, and diverted attention away from their internal problems by pointing the finger elsewhere. The case against Cassidy and OPBL appears to be based on the claim that BMO did not know the quotes OPBL were sending to back office originated from Lee. However, the Deloitte report indicates not only did they KNOW, it was the clear practice. Therefore, it is obvious BMO lied to regulators to divert attention away from scrutiny on their disastrous risk mgmt practice...something like that cd have led to major credit rating downgrade. Yes, i am long opbl but WHERE ARE THE US REGULATORS. How is this Canadian bank getting away with all this?

      • 1 Reply to sturm255
      • agreed sturm -- what a joke --the bank did all kinds of real bad stuff but find a little brokerage who had made great strides toward beong a great company and blame them for all of your failures, really quite astounding that a foreign bank could come here and flout our laws and just simply blame on this company and this guy. Did anyone do any homework on this or as I suspect they just jumped the gun assuming the brokerage did something wrong?? So far everything I read makes me agree with your analysis. Hopefully some day this gets resolved while there is still a possibility of the company salvaging some kind of business. Does anyone have any idea if they are at least trying to get a business going?? I own this stock

 
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