"1848 and
Beyond"
posted
August 4, 2005
"An
African Queen"
posted August 11, 2005
"Near Hit"
posted August 16, 2005
"Orko
Gold"
posted August 18, 2005
"Mr.
Smith Goes To Hungary"
posted September 1, 2005
"A
Letter To
President Bush"
posted September 8, 2005
"Mr
Clarke -
Call In The Boys"
posted September 12, 2005
"Orezone"
posted September 23, 2005
"U.S
Gold Corp."
posted September 29, 2005
"Mr.
Prime Minister"
posted October 13, 2005
"The
Business of Hungary is Business!"
posted October 31, 2005
"Then
And Now"
posted November 9, 2005
"50
Relatives Worse Than Yours"
posted November 14, 2005
"Bunker
Hunt-Silver-China"
posted November 28, 2005
"The
Currency of Mass Destruction"
posted December 5, 2005
"Sonesta
International Hotels Corporation"
posted December 29, 2005
"Northern
Star Mining"
posted January 16, 2006
"Other
People's Money -Enron & Martin Siegel, Esq."
posted January 28, 2006
"Your
Money Is Not Yours"
-Enron & Martin Siegel, Esq.
posted February 9, 2006
"A
Tribute to
Rudy Giuliani"
posted February 15, 2006
"Interview
with
Robert McEwen-
U.S. Gold Corporation"
posted February 22, 2006
"Sparton
Resources"
posted March 1, 2006
"Harvest
Gold"
posted March 2, 2006
"Midway
Gold
Corporation"
posted March 23, 2006
"Pocketful
Of
Miracles"
posted April 8, 2006
"J.P.
Morgan Offers Advice To Ken Lay"
posted April 11, 2006
"The
Principal Guest Was Missing"
posted April 25, 2006 |
|
Letter to the Editor
The security regulators have not picked it up, as yet, the
fact Ken Lay and his wife Linda
may have exerted on drastic future changes in the securities
industry.
In my book, Ken Lay discovered the modern
version of unrestricted naked short selling and created for
corporate executives in cashing in their chips. In time of
uncertainty, of course.
According to Ken Lay, an executive can borrow
money from his own corporation and paid with the corporation’s
own share – a transaction that does not have to report
to the SBC for at least a year. Thus, the total sale does
not hit the wire services and an executive can bail out of
his stock unnoticed for cash at the higher price than the
stock would be selling a year later.
If such transactions are permitted, they would
be a bonanza for secondary stocks where the decline of the
price is a strong possibility.
Furthermore, if the proceeds of the sale are
converted to an annuity or a Florida home, the executive may
be home free from stockholders suit.
Thus, Ken Lay, a highly educated man, discovered
the ultimate bail out, publicly permissible, naked short selling
at the expense of OTHER PEOPLE’S MONEY.
Ken Lay’s attorney, Martin Siegel, Esquire stated in
2003 “Ken Lay did nothing wrong”.
Mr. Siegel returned to Houston in early May
2006 to defend his client Ken Lay.
I am not questioning the outcome of the current
case. I am simply stating as a securities analyst, that Ken
Lay and his attorneys are attempting to rejuvenate security
laws from the Depression era in 1933, until President Roosevelt
nominated Joe Kennedy to head the Securities Exchange Commission.
Then the music stopped!
Respectfully submitted,
Andrew Racz
(Article
27- posted May 8, 2006)
e-mail: mlikar@aol.com
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