Re: Real fix for stock spams - pick up a pen
Coffey, Neal wrote: Bookworm wrote: Pick up a pen, and write to your local congressman, or even to the SEC, and insist that they penalize those companies who are being pimped and pumped through spam emails. Why should they? The companies being advertised in the stock spams aren't responsible. In fact, a good pump-and-dump stock scam can be very harmful to the target company. This depends on whether it's a pump and dump for the initial IPO (In which case, the company knows straight out who they're dealing with), or whether it's a pump and dump for an existing stock. (In which case, the spammer stands out big-time, and can be backtracked by the SEC for sending out the spam - possibly for pump and dump. I don't know if those are illegal or not, but using spam to do it definitely is) Either way, it's a Go for the money. BW
Re: Real fix for stock spams - pick up a pen
Robert Braver wrote: On Thursday, November 16, 2006, 8:00:09 PM, Michael Scheidell wrote: MS It was $500, and the law changed to make it impossible to collect MS anymore. MS Before, it was a 'first strike' and you owe $500. Now you have to 'opt MS out' (they can still send you one) Opt-out applies only if there is an existing business relationship with the recipient, and several other requirements are met. The rules haven't changed w/r/t typical junk faxes... you can(and indeed we are) nailing them for the first fax, last fax, and every fax in between. Yes - Opt-out _used_ to sometimes be a valid excuse, but especially since the change last summer, it's basically Unless you have a piece of paper saying that you can send them faxes, you can't send them faxes. The only exception to that rule is a fax saying We'd like to send you information X. - you can't include any of the information, just the request. Then they have to send that back. Faxes are opt-in only, unless you already have a prior business relationship (that piece of paper. Two of my customers that faxed to various construction companies (legitimately, they never hid, and they always removed), spent weeks sending out if you'd like to continue receiving these faxes, please fill this out and send it back papers) BW
Real fix for stock spams - pick up a pen
Pick up a pen, and write to your local congressman, or even to the SEC, and insist that they penalize those companies who are being pimped and pumped through spam emails. Today, I got one for Mobicom Communications. If that company had their chance to go public yanked, you could be sure that they'd be much more careful the next time around who they dealt with for spreading the word. I know that when the 'junk fax' companies started being SERIOUSLY penalized, and that you could take them to court yourself ($150 per fax). We started seeing far fewer of them. Don't bother targeting the spammers, that's not helping. Target the folks paying the spammers (producers of the products). Note - the bulk of those stock scams are US 'penny' stocks. They are required to file with the SEC, even if they aren't on the main stock exchange. BW
Re: Real fix for stock spams - pick up a pen
At 10:51 AM 11/16/2006, you wrote: Pick up a pen, and write to your local congressman, or even to the SEC, and insist that they penalize those companies who are being pimped and pumped through spam emails. Today, I got one for Mobicom Communications. If that company had their chance to go public yanked, you could be sure that they'd be much more careful the next time around who they dealt with for spreading the word. I know that when the 'junk fax' companies started being SERIOUSLY penalized, and that you could take them to court yourself ($150 per fax). We started seeing far fewer of them. Don't bother targeting the spammers, that's not helping. Target the folks paying the spammers (producers of the products). Note - the bulk of those stock scams are US 'penny' stocks. They are required to file with the SEC, even if they aren't on the main stock exchange. I would agree, except it would have to be proved it was the company doing or paying for the spamming. Imagine if ABC Corp is already public, and along comes XYZ, Inc, about to go public. XYZ competes with ABC. ABC hires Spammer in Foreign Country to spam for 'XYZ'. So now it looks like XYZ is spamming. The FTC crawls all over XYZ, who of course plead innocent. Joe Job. :)
Re: Real fix for stock spams - pick up a pen
On Thu, 2006-11-16 at 10:57 -0800, Evan Platt wrote: Imagine if ABC Corp is already public, and along comes XYZ, Inc, about to go public. XYZ competes with ABC. ABC hires Spammer in Foreign Country to spam for 'XYZ'. So now it looks like XYZ is spamming. The FTC crawls all over XYZ, who of course plead innocent. Or Joe spammer picks a penny stock at random. Buys a bunch, pumps it, dumps it. Derek
RE: Real fix for stock spams - pick up a pen
Bookworm wrote: Pick up a pen, and write to your local congressman, or even to the SEC, and insist that they penalize those companies who are being pimped and pumped through spam emails. Why should they? The companies being advertised in the stock spams aren't responsible. In fact, a good pump-and-dump stock scam can be very harmful to the target company. Here's what happens. Our friend the Stock Spammer first finds some penny stock, and buys thousands of shares. Then, he sends out thousands of emails pimping out the stock he just bought. OMG the XYZ Co. is about to explode! Then thousands of idiots, in a display of stupendous gullibility, say hey, this poorly spelled email from someone I don't know sounds like it contains trustworthy financial advice. I think I will risk some money on the trustworthiness of a total stranger! (It likely works because the value of the stock is typically under $2/share, making it less of a risk for the dimwits.) As more and more nitwits buy into the scam, Stock Spammer sees his investment double, or triple. Eventually, the Stock Spammer dumps all his shares all at once. The flood of sales causes the victim company's stock price to plummet again, leaving all of the dupes as losers, and XYZ company wondering what the hell just happened.
Re: Real fix for stock spams - pick up a pen
At 12:51 PM -0600 11/16/06, Bookworm wrote: Pick up a pen, and write to your local congressman, or even to the SEC, and insist that they penalize those companies who are being pimped and pumped through spam emails. Today, I got one for Mobicom Communications. If that company had their chance to go public yanked, you could be sure that they'd be much more careful the next time around who they dealt with for spreading the word. Note - the bulk of those stock scams are US 'penny' stocks. They are required to file with the SEC, even if they aren't on the main stock exchange. This is off-topic, but you've got to think that someone knows who is making the money off of the pump and dump. The Pink Sheet company, or whatever exchange runs the stock should know that someone sold x0,000 shares of whatever.pk on a certain date. There has got to be a paper trail somewhere. How we mere mortals get access to that list is the catch. Mike -- Michael Clark, Webmaster Center for Democracy and Technology 1634 Eye Street NW, Suite 1100 Washington, DC 20006 voice: 202-637-9800 http://www.cdt.org/ Join our Activist Network! Your participation can make a difference! http://www.cdt.org/join/
RE: Real fix for stock spams - pick up a pen
-Original Message- From: Bookworm [mailto:[EMAIL PROTECTED] Sent: Thursday, November 16, 2006 1:52 PM To: users@spamassassin.apache.org Subject: Real fix for stock spams - pick up a pen Pick up a pen, and write to your local congressman, or even to the SEC, and insist that they penalize those companies who are being pimped and pumped through spam emails. Today, I got one for Mobicom Communications. If that company had their chance to go public yanked, you could be sure that they'd be much more careful the next time around who they dealt with for spreading the word. Its not Mobicom doing it. I know that when the 'junk fax' companies started being SERIOUSLY penalized, and that you could take them to court yourself ($150 per It was $500, and the law changed to make it impossible to collect anymore. fax). We started seeing far fewer of them. Don't bother targeting the The law changed, you will start seeing more of them. Before, it was a 'first strike' and you owe $500. Now you have to 'opt out' (they can still send you one) Write your congressman. spammers, that's not helping. Target the folks paying the spammers (producers of the products). Note - the bulk of those stock scams are US 'penny' stocks. They are required to file with the SEC, even if they aren't on the main stock exchange. Send copies to [EMAIL PROTECTED]
Re[2]: Real fix for stock spams - pick up a pen
On Thursday, November 16, 2006, 8:00:09 PM, Michael Scheidell wrote: MS It was $500, and the law changed to make it impossible to collect MS anymore. MS Before, it was a 'first strike' and you owe $500. Now you have to 'opt MS out' (they can still send you one) Opt-out applies only if there is an existing business relationship with the recipient, and several other requirements are met. The rules haven't changed w/r/t typical junk faxes... you can(and indeed we are) nailing them for the first fax, last fax, and every fax in between. -- Best regards, Robert Braver [EMAIL PROTECTED]
