Serge Birbrair

Systemic Weekend Reading

Greg,
the MOST troublesome part was:


The other systemic issue confronting the global financial system is, of course, regulatory incompetence. “Fooling Some of the People All of the Time,” by Greenlight Capital’s David Einhorn, tells the story of his six year all-in battle with the extraordinarily sleazy Allied Capital (ALD), and its sleazy allies at the US Securities and Exchange Commission:

It is a surprisingly dark story, in which Mr. Einhorn’s usual winning touch vanishes for most of the narrative. As he struggles to figure out why, he appears naïve at certain times, petulant at others. But he presses on anyway, confident that vindication will come. It never really does...

...Large chunks...amount to an angry man's recital of his grievances—and Mr. Einhorn has some good ones. An SEC lawyer who quizzed him aggressively about his short-selling methods later went into private practice and registered as a lobbyist for Allied.


It was sent to
Christopher Mulvihill - State of New York AG Office
SEC
B. Zvilev, State of Texas Securities Division,
Bloomberg
Dow Jones
and many others state and government regulators, prosecutors, attorney generals offices, and news persons.


We, the Auction Rate Securities investors who got caught in 330 billions mess, with UBS as a Key Player
appreciate your article and I hope it will open many eyes, including the eyes on the very top of the
SEC,
AG offices,
US Government and it's Financial Comittees.

Yours truly,
Serge Birbrair, ARS misled investor by UBS
arsclassaction.com