Friday, May 26, 2006

The Faulking Truth - Mark Faulk and Debi Kionte discuss CMKX, Naked Shorting, and other assorted shenanigans from Wall Street to Capitol Hill



The Faulking Truth - Mark Faulk and Debi Kionte discuss CMKX, Naked Shorting, and other assorted shenanigans from Wall Street to Capitol Hill. (CMKX)(AZMN)



Stockgate: Taking it to the States
By Mark FaulkMay 26, 2006

Utah Gov. Jon Huntsman, Jr. just signed a new state law that calls for stiffpenalties against brokers, clearing firms, hedge funds, and anyone else whosell and then fail to deliver stock to customers, in effect creatingcounterfeit shares that artificially depress the value of company andshareholders' stock. On the very same day, it was reported inn the New YorkTimes that the top 26 hedge fund managers all earned over $130 milliondollars each, and the top two managers made more than a billion dollarsapiece. That's 25,000 times what the average wage earner in America earnedlast year.

Well guess what? Now it's our turn. Since our federal government andCongress have abandoned its own citizens in favor of the big money specialinterest groups, it's up to the states to do the right thing for theircitizens. Every state in America should pass legislation similar to Utah's,and every voter in America should demand that their elected officials takedecisive steps to protect America's economy, employee and tax base,retirement accounts, and shareholders' investments.Read the rest of this article, and see what you can do to help, at:http://www.faulkingtruth.com/Articles/LettersToEditor/1030.html

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