quote:Originally posted by TaxBack04: I said I wasn't going to argue with anyone about this any more. And I am sticking to my word. The points that I know: (You do the research and see if you come up with anything different.)
- Forward and Reverse splits adjust the price equivalent to the ratio of shares exchanged. This threshold price reset does not.
- People short in this security will be placed in an instant call situation unless they have funds to cover 6 additional shares and the coresponding insurance for each.
- Shares are being delivered to shareholders only. Individuals who are more likely to hold long and sell precentages rather than sell the whole. Many flippers and day traders jumped last second with the date confusion.
- None of this has an ounce of meaning while we are under suspension by the SEC. I wish him swift justice.
Good luck to all... especially Rufus.
I agree whole heartedly with what you say here!!!!
IP: Logged |
posted
Whats it mean when a trade has (T) after it?
I was watching LFZA and everything that occured after 4:00 PM was followed by that (T). I have never seen that before. Even on other staocks that continue to trade after the bell.
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell
IP: Logged |
Join Date: May 2006 Posts: 1,179 EVERYONE, BUSTER74 STARTED A PETITION USING THE LETTER I WROTE TO CHRIS COX. IT IS DEFINATELY OK WITH ME. PLEASE GO HERE AND SIGN!!!!
__________________ "If this goes to 54 bucks I'm gonna be happy....If it doesnt I'm still gonna be happy....Cause I got God, family, and friends."
IP: Logged |
Join Date: Aug 2006 Posts: 364 I was going to post this yesterday but now in light of recent events I feel everyone should read this closely and understand how seriously the SEC is being investigated for their abuse of power by Senators and Congressmen. Shareholders should also send letters to Grassley because I believe he can be a big help if he is made aware of the situation with Conversion Solutions and the injustice involved here against the Company, Rufus and all the shareholders.
SEC Will Be Investigated in Probe Sought by Senate's Grassley
By Otis Bilodeau
Oct. 26 (Bloomberg) -- The U.S. Securities and Exchange Commission, already under scrutiny for its handling of a trading probe that entangled Morgan Stanley Chief Executive Officer John Mack, now faces a broad review by government auditors of its management and methods for policing the financial markets.
The Government Accountability Office agreed last week to investigate the SEC's enforcement division and compliance department after requests by Senator Charles Grassley, an Iowa Republican who questioned whether the agency gave Mack special treatment. Grassley asked the GAO to examine the SEC's ``planning, oversight, control and other management processes'' and gauge whether the agency does enough to oversee regulators at the New York Stock Exchange and NASD.
``Based upon allegations I have received over the past few months, I have become increasingly concerned regarding the operations of the SEC, and whether the SEC is faithfully adhering to its mission'' to protect investors, Grassley, the chairman of the Senate Finance Committee, wrote in one of two Sept. 19 letters to GAO Comptroller General David Walker.
The review ratchets up the heaviest political pressure the SEC has faced since Christopher Cox, a California Republican, took over as its chairman in August 2005. Grassley's requests target units run by SEC enforcement chief Linda Thomsen and Lori Richards, head of the Office of Compliance, Inspections and Examinations.
Senators including Grassley are concerned that the SEC shielded Mack from a probe of insider trading at Pequot Capital Management Inc., which runs $7 billion in hedge funds. Gary Aguirre, a former SEC investigator, told the Senate Judiciary Committee in June that he was blocked from questioning Mack because of the Morgan Stanley CEO's political clout. New York- based Morgan Stanley is one of Wall Street's two biggest securities firms.
`Coating of Dirt'
The SEC eventually interviewed Mack in July and notified him and Westport, Connecticut-based Pequot earlier this month that it won't pursue a case against them. The SEC repeatedly has denied Aguirre's claims and Mack and Pequot denied any wrongdoing.
``This Aguirre story will leave a coating of dirt unless it is probed and washed away,'' said Edward Fleischman, a former SEC commissioner now in private practice at Linklaters in New York. ``It will benefit us all, and it will ultimately benefit the SEC, to have the GAO go through all of this as an outside observer.''
Thomsen declined to comment. Walter Ricciardi, a deputy enforcement director at the SEC, said the agency has no objection to the GAO inquiry.
``We welcome the review and look forward to any recommendations that might follow,'' Ricciardi said in an interview.
Donaldson Appointee
Thomsen is the only division director at the SEC not appointed by Cox. She was promoted in May 2005 by Cox's predecessor, William Donaldson, after then-Enforcement Director Stephen Cutler returned to private practice.
Cox said Oct. 18 that members of Congress have ``legitimate concerns and I share those concerns'' when asked about Aguirre's allegations.
Grassley asked the GAO, Congress's investigative arm, to report its findings by June. The GAO said in an Oct. 16 letter to Grassley that it ``accepts these requests as work that is within the scope of its authority.''
The inner workings of the SEC's enforcement division are rarely exposed to public view. As a matter of policy, the agency doesn't say when it opens or closes investigations and officials won't discuss their progress in building a case.
NYSE, NASD Oversight
Grassley asked the GAO to assess how the SEC tracks investigations, the amount of time the agency takes to complete them and its ``reported success rate.'' He also requested that the auditors determine how many referrals of potentially illegal trading activity from U.S. exchanges ``actually become part of a regulatory action.''
SEC enforcers rely on the self-regulatory organizations, or SROs, that police the exchanges, including NYSE Regulation and the NASD, to report signs of suspicious trading for further investigation.
The SEC must ``detect and deter potential abuses of SRO authority arising from inherent conflicts of interest,'' Grassley wrote to the GAO. ``How does the SEC ensure that the SROs vigorously oversee their own members?''
An analysis of stock-trading data by Toronto-based Measuredmarkets Inc. showed in August there may have been insider trading in advance of 41 percent of the largest U.S. takeover announcements in the preceding year. Derivatives traders also made perfectly timed bets before public announcements of recent deals such as the $33 billion leveraged buyout of hospital operator HCA Inc.
To contact the reporter on this story: Otis Bilodeau in Washington at obilodeau*bloomberg.net . [/b][/color]
IP: Logged |
Join Date: Aug 2006 Posts: 365 ( Continuation of #12328 )
Hedge Funds
About 20 percent of the new investigations opened at the SEC in the past year focused on insider trading and slightly less than half of those probes led to enforcement cases, according to Ricciardi.
``We often see suspicious trading, but in some cases it's hard to find the evidence,'' he said in an Aug. 27 interview.
Cox said Oct. 18 that the SEC is ramping up its scrutiny of potential insider trading by hedge funds ahead of company mergers. Thomsen, the enforcement chief, told Congress last month that cases of insider trading by hedge funds have become a ``significant concern.'' Hedge funds are private pools of capital that allow managers to participate substantially in the gains they make for investors
IP: Logged |
posted
rufus laid out all of the documents on the cvsu.us site as he said he would and you have to respect that. did anyone notice paragraph 18 under the mashburn declaration that said: "Hams further stated that he had pulled "sheets"' from the Depository Trust Corporation . He said that Conversion Solutions' shares are only trading among brokers and cannot be traded by the general public Hams said that the items being floated around on the Internet are crazy and that there are no shares available for trading He did not know how the Conversion Solutions shares are trading." i wonder whats up with that? document was signed 10/6/06.
-------------------- I'm from Missouri - Show Me!
IP: Logged |
posted
Originally Posted by dogman Hello everyone. I am going to start a share holder committee so that we have say in the board. I will have the papers drawn up. If you are interested, why you wouldnt be i dont know, email me the following information as we need 10% of the share base. I need name address phone and # shares. YOUR INFORMATION WILL NOT BE SHARED WITH ANYONE. You can use that against me if you do not trust me. My email is dogmando *hotmail.com. If you wish to talk to me email me your phone number and I will explain.
IP: Logged |
quote:Originally posted by new2stocks: Originally Posted by dogman Hello everyone. I am going to start a share holder committee so that we have say in the board. I will have the papers drawn up. If you are interested, why you wouldnt be i dont know, email me the following information as we need 10% of the share base. I need name address phone and # shares. YOUR INFORMATION WILL NOT BE SHARED WITH ANYONE. You can use that against me if you do not trust me. My email is dogmando *hotmail.com. If you wish to talk to me email me your phone number and I will explain.
Starting a shareholder committee is a great idea, however, I think he will have a hard time getting all of that information. I would think a better course of action would be to have people interested contact him with name and e-mail, particularly if their name is on the NOBO. In that case, have someone at CSHD verify number of shares, etc. - they will have to anyway for the 6-for-1.... Thoughts anyone?
-------------------- Study before you buy, Sell before you think about it....
IP: Logged |
quote:Originally posted by 66inxs: rufus laid out all of the documents on the cvsu.us site as he said he would and you have to respect that. did anyone notice paragraph 18 under the mashburn declaration that said: "Hams further stated that he had pulled "sheets"' from the Depository Trust Corporation . He said that Conversion Solutions' shares are only trading among brokers and cannot be traded by the general public Hams said that the items being floated around on the Internet are crazy and that there are no shares available for trading He did not know how the Conversion Solutions shares are trading." i wonder whats up with that? document was signed 10/6/06.
I suggest either coverup, or they seriously don't know how their own system works, because it is simply BS from where I'm sitting.
IP: Logged |
quote:Originally posted by 66inxs: rufus laid out all of the documents on the cvsu.us site as he said he would and you have to respect that. did anyone notice paragraph 18 under the mashburn declaration that said: "Hams further stated that he had pulled "sheets"' from the Depository Trust Corporation . He said that Conversion Solutions' shares are only trading among brokers and cannot be traded by the general public Hams said that the items being floated around on the Internet are crazy and that there are no shares available for trading He did not know how the Conversion Solutions shares are trading." i wonder whats up with that? document was signed 10/6/06.
This is a case of "know thy enemy". While the actions of the SEC fall somewhere between incompent and unjustified, the real perversion in the market exists in the hidden halls of the DTC. The SEC and brokerage houses may be guilty of looking the other way but the root of the crime rests with the DTC. After all, who do you think is capable of abusing the system for the better part of 30 years, government employees or the most powerful players in the United States financial industry?
Since there is a lull here today I'll post an article that should prompt further research for anyone not truly familiar with the people Rufus and your money are going after.
+++++++++++++++++++++++++++++++
The Depository Trust Company declares itself as "a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the Securities and Exchange Commission. The depository brings efficiency to the securities industry by retaining custody of some 2 million securities issues, effectively "dematerializing" most of them so that they exist only as electronic files rather than as countless pieces of paper. The depository also provides the services necessary for the maintenance of the securities it has in custody."
The Depository Trust & Clearing Corporation (DTCC) provides for clearance and settlement of equities, bonds, and various securities. The DTC is response for the custody of more than two million securities issues from the United States and elsewhere throughout the globe.
One of its main functions is when there is a stock transaction. The DTC is instructed to move securities from the selling broker's account to a NSCC (National Securities Clearing Corporation) account, and then from the NSCC's account to the buying broker's account. National Securities Clearing Corporation (NSCC) is the oldest and, in terms of the transaction volumes it processes, by far the largest of the clearing corporations. NSCC provides clearing and settlement, risk management, central counterparty services and a guarantee of completion for trades involving equities, corporate and municipal debt, money market instruments, American depositary receipts, exchange-traded funds, unit investment trusts, mutual funds, insurance products and other securities. NSCC also nets trades and payments among its participants, reducing the volume and securities and payment that need to be exchanged by an average of 97% each day. NSCC generally clears and settles trades on a T+3 basis. This is part of how a financial settlement is completed and how shares are accounted for.
In comments to the U.S. Securities and Exchange Commission regarding Regulation SHO in January, the 50 state regulators, through their association, the North American Association of Securities Administrators (NASAA) issued what many consider to be a strong warning that if the DTC is not dealt with in the final regulations, state regulators such as New York State Attorney General Eliot Spitzer may step to the plate.
In what many considered to have been explosive comments, Ralph Lambiase, NASAA president and Director of the Connecticut Division of Securities, warned "NASAA urges the Commission to reconsider its stance regarding the role of the Depository Trust and Clearing Corporation (the DTC). As a threshold matter, NASAA believes that the Commission should explicitly prohibit the DTC from lending more shares of a security than it actually holds. The ability of the overall proposed rule would be severely impaired unless the Commission undertakes to implement such a prohibition."
Recently, Eagletech Communications Inc. obtained a ruling of a New York court directing the Depository Trust and Clearing Corporation (DTCC) to produce trading records for Eagletech shares. Eagletech was represented in the motion by the law firms of Christian Smith & Jewell of Houston, Texas and Koerner Silberberg & Weiner, LLP, of New York City. Eagletech is a plaintiff in a stock manipulation action pending in the state of Florida. It commenced a special proceeding in the Supreme Court of the State of New York to obtain certain trading reports from the Depository Trust and Clearing Corporation. Subsequently it filed motions to compel the DTCC to comply with the subpoena. Attorney Wes Christian commented: "This is a significant victory in our on going battle to bring restitution to our clients for the brazen manipulations that were perpetrated against them. Our ability to obtain these records is essential. The judge's clear ruling takes us further down that road."
There are dozens of lawsuits being filed. Many of the pleadings allege that the DTCC operates a "stock lending" program that aids and abets illegal naked short selling, and in doing so, takes in almost $1 billion annually.
The DTC is owned by members of the financial industry. DTC board members include Michael C. Bodson, Managing Director, Morgan Stanley (NYSE:MWD); Gary Bullock, Global Head of Logistics, Infrastructure, UBS Investment Bank (NYSE:UBS); Stephen P. Casper, Managing Director and Chief Operating Officer, Fischer Francis Trees & Watts, Inc.; Jill M. Considine,Chairman, President & Chief Executive Officer, The Depository Trust & Clearing Corporation (DTCC); Also, Paul F. Costello, President, Business Services Group, Wachovia Securities (NYSE:WB); John W. Cummings, Senior Vice President & Head of Global Technology & Services, Merrill Lynch & Co. (NYSE:MER); Donald F. Donahue, Chief Operating Officer, The Depository Trust & Clearing Corporation (DTCC); Norman Eaker, General Partner, Edward Jones; George Hrabovsky, President, Alliance Global Investors Service; Catherine R. Kinney, President and Co-Chief Operating Officer, New York Stock Exchange; Thomas J. McCrossan, Executive Vice President, State Street Corporation (NYSE:STT); Eileen K. Murray, Managing Director, Credit Suisse First Boston (NYSE:CSR); James P. Palermo, Vice Chairman, Mellon Financial Corporation (NYSE:MEL); Thomas J. Perna, Senior Executive Vice President, Financial Companies Services Sector of The Bank of New York (NYSE:BNY); Ronald Purpora, Chief Executive Officer, Garban LLC; Douglas Shulman, President, Regulatory Services and Operations, NASD; and Thompson M. Swayne, Executive Vice President, JPMorgan Chase (NYSE:JPM).
How can the DTC do their job and be clear of all conflict of interests if most of the board members are affiliated with big broker-dealers?
posted
Tax- You're on fire!!!! WIll you be my mentor?
quote:Originally posted by TaxBack04: OK I did my part... 2 senators and 4 Representatives in my state recieved my letter this morning in their inbox.
quote: October 27, 2006
Senator XXXXXXXXX XXX
Dear Honorable Senator XXXXXXXXX XXX: Sir, I hope this letter finds you well. I wanted to contact you regarding a letter I sent yesterday to Senator Charles Grassley of the great state of Iowa, who is currently leading a charge in Congress to probe the many possible corruption points in the SEC Enforcement Division. I wanted to copy and forward this letter to you so that you understood that voting members of your state are in this battle as well.
As recently as this week the SEC Enforcement Division halted trading on the publicly traded security Conversion Solutions Holdings Corp. (CSHD.OB) with little or no research into the validity of the company it’s assets, and the true honesty and integrity of the CEO running the organization. The SEC Enforcement Division I believe over stepped it’s authority in this particular situation, by trumpeting many falsified claims made by a criminal source Mr. Timothy Miles who has been involved indicted and is on the run for SEC violations. Certain members of the SEC Enforcement Division did not research the claims thoroughly, especially with regards to the true “ownership” of CSHD’s massive bond assets, and have now halted the stock trading stranding thousand of private investors with millions of funds invested.
Every informed investor in this company like myself is fully aware of the risks involved, but have also satisfied their thirst for proof by looking at the 600 pages of publicly filed documents showing in detail all of CSHD’s internal workings at the Georgia Courts web site. The SEC Enforcement Division in federal court this week stated that they had not seen the documents CEO Rufus P. Harris directed them too. Had not called a single number he provided them with, including at least one U.S. Ambassador, and had not contacted the U.S. Federal Reserve to validate the bond ownership.
The true clue to the crime is the timing in which the stock was halted by the SEC. CSHD has been screaming for months for the SEC to do something about the egregious illegal naked short selling of the security, he even screamed for investigation when trading of CSHD began on the Berlin Exchange a month ago with out any knowledge or authorization from the CEO or BOD of CSHD. The SEC did not question or investigate the bonds when the first $500 million dollar bond was announced and filed with via 8K with the SEC, they did not investigate when the second $5 Billion dollar bond was announced and filed via 8K with the SEC. They didn’t even investigate when the 10KSB was delayed anticipating audited financials of the reverse merger with FHAL. No the SEC did not even investigate when the finally halted the stock on Tuesday of this week, in an obvious effort to prevent the Company from “putting the nail in the coffin” so to speak and give every “known” share holder 6 shares for every one share they currently owned in a merger price reset. The key word being “known” because the illegal naked short selling of this security is so rampant and they are not “known” to the company. Only a few corrupt SEC Enforcement Division staff members who would stand to gain from the preservation of the Naked Short Selling of this security would have moved this quickly and this recklessly to end the company’s bright future before it even got off the ground in my opinion.
I implore you to look into this matter and contact Conversion Solutions Holdings Corp. CEO Rufus Paul Harris at Harris*cshd.us or at his office number 770-420-8270,. to get the story first hand, I also ask that you use your best effort and judgment to aid Senator Grassley in huge undertaking he has began by trying to drive the corruption out of our regulating body, and the U.S. free trading market once and for all. i am going to try and attach the letter I sent to Senator Grassley, and please feel free to contact me if you have further questions. As an informed investor of CSHD I have researched the entire situation, and as it appears I have gone much farther that the SEC has to validate my investment.
Dear Honorable Senator Charles Grassley: Sir, I hope this letter finds you well. I wanted to contact you regarding the article titled, “SEC Will Be Investigated in Probe Sought by Senate's Grassley” published on the Bloomberg website. I am an informed investor in a company named Conversion Solutions Holdings Corporation which just recently has been placed under “temporary suspension” by the SEC’s Enforcement Division headed by Division Branch Chief Micheal E. Mashburn. The reason I am writing you is that I personally suspect that actions currently being taken by a select few regarding this suspension are not in the best interest of the shareholders and may be another example of the SEC Enforcement Division over stepping it’s authority. Additionally, it may be a combined effort to aid multiple members of a RICO group who have been illegally naked short selling the corporation’s stock for months. The halt in trading occurred after the CFO of CSHD received validation that the company was in compliance with all of it’s SEC filings, and is in regards to “speculative” ownership of some rather large bond assets held by CSHD, even though every informed investor of CSHD knows that all information regarding the ownership of the bonds has been made available to the public via filed documents with the Georgia Courts. Hundreds of millions of dollars of investor money is at stake in this situation, and well established proof of ownership has never before been a filing requirement of the SEC before but seems to be enough to halt trading, put the outstanding reputation of a small fast growing company at stake, and damage the credibility of the company as a whole and the long term investors funds along with it. I implore you to contact CSHD CEO Rufus Paul Harris at Harris*cshd.us or at his office number 770-420-8270, and inquire into this really interesting and scary story so that you yourself can hear about it first hand and make comparisons with your current probe/audit of the SEC Enforcement Division. Sincerely, XXXXXXX XXXXXXXXXX Concerned CSHD Shareholder
-------------------- ..just remember....Family is EVERYTHING!!
IP: Logged |
quote:Originally posted by 66inxs: rufus laid out all of the documents on the cvsu.us site as he said he would and you have to respect that. did anyone notice paragraph 18 under the mashburn declaration that said: "Hams further stated that he had pulled "sheets"' from the Depository Trust Corporation . He said that Conversion Solutions' shares are only trading among brokers and cannot be traded by the general public Hams said that the items being floated around on the Internet are crazy and that there are no shares available for trading He did not know how the Conversion Solutions shares are trading." i wonder whats up with that? document was signed 10/6/06.
good catch there 66....
hams... is Harris... the copier didn't copy too well..
my assumption is that Rufus was trying to tell this guy about the fact that there shouldn't be so many shares trading...
this guys way of copying it down seems to show that he didn't understand what Rufus was telling him...
was this the way to include the "short" data and make it totally uncomprehensible to anybody not already very familiar with the situation?
-------------------- Don't envy the happiness of those who live in a fool's paradise.
IP: Logged |
posted
I just watched the King of Queens episode where they bought a stock. It was hilarious. They bought at $6, rode it to $12, then back down to $4 where they panicked and sold. It then ran to $16 so they bought it back. It then ran down to $2.00. They decided it couldn't go lower so they borrowed against their credit cards. The CEO then went to jail and the stock dumped..LOL.
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell
IP: Logged |
quote:Originally posted by 66inxs: rufus laid out all of the documents on the cvsu.us site as he said he would and you have to respect that. did anyone notice paragraph 18 under the mashburn declaration that said: "Hams further stated that he had pulled "sheets"' from the Depository Trust Corporation . He said that Conversion Solutions' shares are only trading among brokers and cannot be traded by the general public Hams said that the items being floated around on the Internet are crazy and that there are no shares available for trading He did not know how the Conversion Solutions shares are trading." i wonder whats up with that? document was signed 10/6/06.
good catch there 66....
hams... is Harris... the copier didn't copy too well..
my assumption is that Rufus was trying to tell this guy about the fact that there shouldn't be so many shares trading...
this guys way of copying it down seems to show that he didn't understand what Rufus was telling him...
was this the way to include the "short" data and make it totally uncomprehensible to anybody not already very familiar with the situation?
I find it more interesting that the man put the statement in his declaration...AND? I would hope or think that the SEC should also investigate that issue...after all it is now PUBLIC knowledge...but I guess that is yet another INVESTIGATION...one that will quite possibly never be done...Unless WE as SHAREHOLDERS jump on the band wagon and make a stick to the SEC about it and that it deserves further investigation...AND? we could also refer to this case and these filings...
In the same document it states in paragraph 23 that Stanley rescheduled for October 11th...but it never states what happened at the October 11th meeting or if Stanley ever showed?
In the declaration of David Elzinga? The man simply read things off line? Nothing more? and the very last sentence, it states to see exhibit Q for a sample of the Bloomberg information reviewed. Where's Exhibit Q?
It's very sad that the SEC have such a weak "case" (examples and investigations) and yet they can just Stop the trading because they have said they are lazy and can not research squat? BUT? Sounds as if Rufus was also being stubborn...
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
IP: Logged |
posted
Just listenting to OS go at it with RPH. How is it I know TEN TIMES more about bonds etc. than OS does when I knew nothing a couple of months ago? That guy does NO DD. Amazing and very funny.
IP: Logged |
Topic Closed
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Big Grin]](biggrin.gif)
![[Smile]](smile.gif)
![[Razz]](tongue.gif)
