“How can any person with even a basic understanding of the principle of “innocent until proven guilty’ endorse this kind of execution? No warrants. No court appearance. Nada! With a simple phone call an entire company and its shareholders lose all. Just like that. Does that sound like justice or, perhaps, more like a totalitarian system? The SEC says it has to act fast to protect NEW investors from being harmed. This haste overwhelms every other consideration. Of course, the SEC was not so hasty with Bernie Madoff, who ran a series of misidentified (and empty) funds under their collective noses for 20 years.”
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