i agree absolutely, assuming that the original owner did let it lapse
and that the new owner actually plans to use that domain, if they bought
it for speculation or it the "lease" on the domain didn't expire then
the system is definitely broken.  speculation is an evil way to make
money, as the entity that is profiting is contributing nothing to
society but is reaping a profit, it's not really any different than if
you find a business's lost deposit bag and keep the cash.  it's theft,
no one except the speculator profits but others lose.  a business
transaction is generally defined as one where all parties evolved get
something, when people speculate on domain names or other things they
are collecting money from people who normally wouldn't have to pay as
much and who are not getting anything more for the price difference.

Steve Moody wrote:
-------------
>    If it is true that the original owner failed to renew the domain,
> the fault is his, not the new owner.   When you register a domain, it
> is made VERY clear that it must be renewed to to be kept.  If you
> fail to renew it and someone comes in behind you to register it for
> his own, that is YOUR fault.  It is not a problem with the system.
> It is a normal part of the way things work.
---------------

-- 
Philip Stortz, mad scientist at large.
--
"I think there is a world market for maybe five computers."
--Thomas Watson, chairman of IBM, 1943

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