Post by
no1coalking on Aug 14, 2008 6:30pm
Compare The Facts:
HOUSTON CHRONICLE
Thursday,
August 14, 2008
CRIME
Auto dealers charged
Father-and-son dealers in classic cars are in jail on allegations of failing to pay owners after selling their cars and also failing to deliver cars after taking buyers' money.
Story on Page B2
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The above headline was copied from the Houston Chronicle today. Perhaps, you could devote one of you upcoming columns to explain why the Chronicle would headline the failure to deliver cars a crime, but Wall Street broker-dealers can take your money, but fail to deliver stock, yet no one seems to care. I believe that both cars and stock are considered chattel or property. You only have to refer to the long list of companies on the SEC SHO list of companies experiencing significant fails to see the many and ongoing instances of brokers taking the investors money without delivering the actually property which was purchased. What am I missing between the two situations. There seems to be a disconnect. The Sheriff of Montgomery County dutifully went to this dealer and arrested them, but I do not see the FBI or DOJ going into any Wall Street firms and making any arrest. Hopefully, with your experience and knowledge of financial issues, you can explain it so the average investor can understand.
Thank you.
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