Mary Schapiro to Head SEC

SEC totally fell asleep on the "Variable Forward" stock sales to holders of restricted stock. When pointed out to them their examiners didn't care b/c it was not on their checklist. With a variable forward sale, executives who own restricted stock can enter into a contract with the likes of Bear Stearns or AIG, to promise to sell the shares at a future date. The Wall Street firm then executes a short sale on a foriegn market, London, and settle up when the restriction is lifted several years down the line. That's how dot-com execs cashed in on what was supposed to be "restricted stock" but sold it short through other entities.

The SEC (headed by Republican Cox) complete blew it when it came to consumer (investor) protection. Lehman warned them that false rumors spread by short-sellers was crushing their stock (and our 401Ks) without basis. The SEC listened to Goldman (Republican Paulson's former employer) instead of the consumer/investor. NOW, we learn that Republican Cox also found no fault with Madoff.

Charities that rich people invested in to help the less fortunate have now gone under because Cox made sure that ANYBODY FOR THE PEOPLE got screwed.

Obama's Presidentical election is historic. Let's make yet another historic event by empowering the investors/consumers/taxpayers the right to sue the SEC to recoup losses due to their failures. There is NO WAY TO RESTORE CONFIDENCE IN U.S. MARKETS UNTIL SMALL PEOPLE LIKE US ARE EMPOWERED.

Think about that and we'll see what 2009 brings. The big boys have gone elsewhere. The U.S. economy can rely on nobody but US (people that truly lost confidence due to lack of protection after SEC failures).

What's it gonna be Ms. Schapiro? Glad to see a woman appointed. Make the right choices regarding enforcement and repayment for our previous misguided confidence in SEC enforcement protections. Good luck.

We would simply ask Ms. Shapiro to enforce the law and bring back the uptick rule. The Cox people were bank robbers in collusion with the shorts. The purpose of Bush people were to steal all they could before the election of 08 so they could get out of town with the cover of the smoke of economic distress. Run oil up, trade oil. Run it down, short oil. Destroy banks, short banks. Save banks, print trillions. Divy money to friends, leave town fast. Kill cars, kill unions. Export Ford to China, have free trade. Make America flat, with the rest of the word, live in Ivory Tower above the world. Use Jesus to get there. Divide on wedge issues, sell junk to the masses, and export their money to buy back bonds made necessary by war profiteering. It's a racket.

Common sense....strange...no mention of Barney Frank or Chris Dodd....there is blame acroos the board...STOP THE PARTISAN BS AND PLACE BLAME WHERE IT LIES!!!

And what a fine job she and FIRA did foreseeing and preventing the recent Wall Street meltdown. What is Obama smoking????

Barney Frank and Chris Dodd helped support the industries that helped ME buy a house by making mortgage money available to the housing/credit market. It was your Right-Wing cronies that shut down the mortgage market. Don't be an idiot for life! "It's the economy, stupid!"