I am struck by the similarities between the myriad of scandals on AIM – and now the main market – exposed here on ShareProphets and the various horrendous scandals that we have, as a country, been faced with in recent times. Perhaps it might be seen as a grubby comparison to liken financial wrongdoing to the scandals of abuse with reference to Saville, Rotherham as well as the Hillsborough tragedy. But the similarities are there: the failings are the same and as a country we need to face it.
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Comments
wildrides
Good one Nigel ………… Strip the LSE of any powers of self regulation ………….. start a petition today . I will be first to sign .
J P Spaghetti
I’m sure Harry S. Truman would have approved!
Erlend
I was actually thinking one day I am sure surely a programme like Panorama or Dispatches will run a expose of Aim one day. I guess it is whether it will this/next year or in twenty years time. Start that petition idea. Track down as much of the shareholders of the frauds that have been exposed as you can to sign..
At first I invested in some shoddy companies (Range and Sefton!), basically out of naivety until the light dawned on me, which then completely change the way I view what Aim is. It is has saved me a lot of money- and thankfully I got out of Range and Sefton at what is now at least a relatively high price btw. Others are still living with their false perception and it is costing them their hard earned money.
turbograndad
Nigel,
The only logical conclusion, as the now dead Mr. Spock would have said, is indeed that the regulators are corrupt, or abissmally incompetent, or both.
I think if you look objectively about British history, of exploitation, followed by institution, and how the establishment hold furtive power, I am not at all surprised.
I could go on & on, our foreign policy, MP,s, our worst enemies could not have done a better job running this country down, the British psyche is held in psychological servitude, and the public sector are the puppets, and the establishment the puppet masters, their all on grate pensions and pay offs, and pay, while private sector save the bankers ets has lost ground.
Time and time again, there is no accountability or censure, so it goes on, police investigate police, doctors in vestigate doctors, MP,s , the church, the scouts, its endemic we are all indeed mad for putting up with it.
Phil
Who watches the watchers, and who regulates the regulators.
When people in this country finally get the message the days of the Jarrow march are over, it worked, and stop voting on partisan lines, and instead starts voting based on the integrity and ability of the MP in parliament. When every seat becomes marginal, and they have to work and compete for it, then it may change.
I wouldn’t hold your breath. If people bothered to vote, would be a start
nigel somerville
Wild – trouble is I think the whole lot of the regulators over AIM should be stripped of roles. They’re all hopeless.
JP – hmmm ;-)
Erlend – could all be done right now. In the old days one might have gone to Sunday Times Insight team, but these days we have ShareProphets instead! And of course a few deadwood’s ripping off our pieces….
Turbo – either you are correct, or we have simply given up on being able to get anything better. I sense the latter, so maybe there is hope that the worm will turn.
Phil – one day, come the revolution! Who regulates the regulators is, ultimately, us. We vote in MPs, they change the law. Perhaps. But who is standing who will (credibly) offer genuine change?
David Russell
The Aim regulators am looking into the people that’s involved in ripping of the small investors but it takes time so my mate told me. You only mention certain companies on this site but some people have done it a long time and made loads. A friend of mine told me Friday night that he put a complaint into the regulator and lost it with them and they said its a criminal matter and it takes years to nail these people because of the defence they use. I got it wrong about the regulator they pass it on to some type of inter plod. These people am being watched not by the regulator but by the law, these people will lose loads my mate said but It could be bollocks just to get him off their case and they can watch the football.:)
turbograndad
Phil,
Agree, we the people need to get rid of this crony cartel of corrupt house of commons, and the institutionalsed party politics, that has taken over our democracy.
Hope fully we evolve towards a direct democracy, with the help of the increasing awareness within social media, and the issues take the centre stage not the crony corrupt poltitians, and their parties.
We need independent MP’s with a proven track record of achievement from all walks of life and experience, than the half wits that say they need other jobs, so as to gain experience on the job.
We have new technology, and age of communication that has changed so much of how we do, lets use this to change our same old failing so called democracy, E voting, E petitions, online debating platforms, government for the people, BY THE PEOPLE.
Naomi
An excellent article, well done for speaking out so clearly against the cover-ups and blind-eye-turning. The parallel with Jimmy Saville is very apt. I agree with taking the campaigning further, e.g. a petition.
alcira16247
Nigel
Excellent article!
Spot on analysis on the disgraceful behaviour and failure of duty by so many official bodies appointed to act, safeguard and oversee …… from financial markets to Hillsborough to maltreatment in hospitals and care homes, the list of failure by these regulatory bodies are legion.
All to often the scandals and failures only come into the public domain by the bravery and courage of investigative journalists or whistle-blowers, again the respective official bodies worse than useless! They only reactive and are hardly ever proactive.
There are over 1200 of these appointed non elected quangos and they cost US the TAXPAYER billions!
Of course, Cameron, just like many of his predecessors, promised in 2010 to scrap dozens of Quangos, saving tens of millions, but like so many of his promises, complete failure to deliver!
Is our country mad? Good question, Nigel!
Baffled
You might like to add another example of ‘dodgy’ dealings to your list.
Last Friday shares in RM2 suddenly shot up by 12.5%, there was absolutely no news to support this price movement. However an RNS released this morning announced that RM2 had secured a major order for pallets from an S&P 500 listed company.
Did those share buyers on Friday have a crystal ball, second sight or inside knowledge?
Regards
Baffled