Mark,

Amazingly, the SEC doesn't have an organized way to process fraud tips, so it's no wonder many fell between the cracks. Schapiro says the agency is working on a process to respond to the million tips they get each year.

This is testified to you this day April 18, 2009 by Steven Haas (a/k/a Laser Haas) (Laser) Under Penalty of Perjury.

The crimes are continuous involving Hundreds of millions more as we speak.

eToys went IPO mid 1999 for $78 per share (purported $8 billion worth) and doing on a few hundred million a year in biz went bankrupt March 7, 2001.

The estate - being controlled by Goldman Sachs - had the original founders abandon the bankrupt entity and the attorneys for the Debtor (MNAT) and Creditors (TBF) produced Barry Gold as new Pres/CEO as a documented Arms Length candidate.

4 years later proof surfaced that Barry Gold was a paid associate of Paul Traub's firm and this was confessed.

it was also confessed by MNAT that it was the local counsel in DE for Goldman SAchs.

There is the NY State SUp Ct case 601805/2002 where MNAT nominated Traub's firm -- under the direction of Barry Gold to handle the $500 million dollar cause of action to explain where eToys rec'd $16.50 of the $78 per share that GS purportedly shared in.

Instead of prosecuting MNAT, TBF and Barry Gold for their confessions to more than 34 false affidavits and deliberately deceiving the court while all the parties rec'd more than $10 million in fees that Barry Gold PAID.

The DE Dept of Justice refused to investigate or prosecute the affair and actually gave Traub illicit, implied, blanket, immunity to Traub's firm(who also confessed to paying Barry Gold 4 payments of $30,000 each prior to Planting Mr. Gold within eToys).

Then Traub, Gold and MNAT committed another $100 million in fraud in the KB case.

The DE Dept of Justice defended Traub and his gang and had the proof of perjury/fraud expunged.

The Director of the US Trustee's in DC - who had promised remedy - REsigned.

The DE Dept of Justice ALSO INstructed the SEC To BACK OFF from initiating an official investigation (we have names, dates, times and recordings)

Since that time- Traub's other two partners - Tom Petters and Marc Dreier -encouraged by how the Law refused to prosecute the crimes - committed $3billion in fRaud (Petters MN) and $700 million in Fraud (Dreier NY)

Noteworthy is the fact that we discovered the US Attorney in DE - who was refusing to prosecute the matter - was also a partner with MNAT in 2001 (the year the fraud and perjury began) and he may have possibly worked on the case or for the clients of Sachs or BAIN that are continuously benefiting from the FRAUD.

We reported this to the Central CA US Attorney's office who never responded.

However - the L A Times reported in the story "Shake-up roils federal prosecutors" that the CA US Attorney walked into a weekly meeting - belittled his staff and summarily disbanded the Public Corruption Unit.

The CA USA and AG Mukasey stipulated that the dismantling of the Public Corruption Unit was to make the DOJ more efficient.

Wonder why they also felt it necessary to Threaten Career prosecutors with disparagment if they spoke to the press.

On the other note of more efficiency.

Where is the Official Investigation into eToys perjury and fraud of $300 million and the 100 crimes that are all documented by Court Docket Records???????

Q: If the SEC won’t accept your call, who will?

I called the SEC a few years ago to report on an airline parts company I was invested in, and had rapidly lost my entire life savings.

The SEC offered absolutely no advice, and routinely issued me a registration number. The SEC seemed burdened by my attempt to contact them. They didn’t seem to say much else. I was obviously on my own. The SEC did not seem to really care and had no intention of investigating the company I had invested in. The SEC was very arrogant, and didn’t even seem to care. I was an individual, not a company with clout or leverage, had seemed to be the attitude.

After my phone call to SEC, I soon realized that the SEC does not exist for the common person. It instead seems to function for large Wall Street institutions and people of power and influence.

I explained to the SEC, that the company I had invested with, suddenly started reporting that they were doing “off the balance sheet accounting” as stated on their quarterly reports. It had Turned out they were hiding enormous amounts of debt.

I personally visited this company to gain a better understanding of the financials. The company executives even gave me a plant tour and said “times could not be better for their business” They showed me their inventory and the execs were obviously living like kings without any worries. Less than a month later, the company was de-listed and went bankrupt. They changed the name of their company. The company was still functioning in the business, but under a new name, leaving investors and bond-holders behind, holding an empty bag.

The SEC was simply unable to assist in any meaningful way.

The institution set up under the New Deal to offer people honesty in the markets , seemed to no longer exist. It had seemed that the “New Deal” with people had been broken or perhaps not effective since the 1930s. We learned in school as children that the SEC was designed to gain the trust of citizens so that we could feel secure about investing in a post-depressionary market.
It seems that there is no longer an entity to report Fraud or abuse in the markets and the companies you invest your savings with.

I fear that this interview lacked substance.I would have hoped that the head of such an important government agency would be able to address important issues in a more direct manner.

There are thousands of innocent tax paying citizens who have been devastated by Bernard Madoff and Allen Stanford. The SEC dropped the ball in both cases. Ms. Schapiro said that the Ponzi schemes that are emerging now are coming to light because the 'low tide', not because of the active work on the part of the SEC. Who is protecting the American Investor?
I would have liked Ms. Schapiro to comment on the fact that according to an article in the NY Times, Stephen J. Korotash, an associate regional director of enforcement with the agency’s Fort Worth office said the S.E.C. “stood down” on its investigation (of Allen Stanford) at the time at the request of another federal agency, which he declined to name.
Perhaps that answers some of the questions the thousands of victims are answering.

Good one, thanks.