asic and nxs , page-2

Unfortunately I have no facts to back up the conspiracy theories that run around my head while I contemplate the causes of my paper losses on NXS.

In reality, lack of action is just bad management not a Corporations Act offence as far as I am aware.

If its an issue of people doing deals and seeking to maximise their personal wealth from such , and doing so while in a position of control of a listed entity, well I just think that is par for the course. If that were the criteria for ASIC to purse they would probably need to target 90%+ Boards of listed a companies for action.

ASIC is fundamentally hopeless - the saga of loss from blatant theft and misappropriation of fiduciary assets in the property trust/syndicate products in recent years is a sad but unambiguous testament to how weak and ineffective they are.

I am not one who has some "pollyanna" view of Board Directors, CEOs and Chairmen - everyone including those holding these "esteemed" positions is in it for one person - and that's themselves, it is only a matter of degree as to what actions each consider acceptable (and whether they fall "within the law", "outside of the law" or "in the grey") in achieving that end.

It is true that some are motivated by wanting to see something grow, some by notionally facilitating others generate wealth etc. its not always just a bout the money for themselves, but fundamentally "the moral compass" is set individually irrespective of what the Corps Act says or not.

When it comes to doing deals, my experience says to me that its is the way of big business - its is about the networks you have, the people you know, the control and use of information, and the power of money and influence - that is what drives deals. it is not necessarily nefarious, it is just human behaviour - and that behaviour can be more or less "moral" - and whether you think it is or not sometimes depends on which end of the stick you get.

IMO NXS is no different, its just a company with untapped valuable assets, but insufficient resources to realise those assets - so it is ripe for a "deal" to be done on it, or with it, or thru' it.

I thought it would "with it" and ACG putting big $$$ gave me some confidence on that being the scenario, but that may not turn out to be the case, and the more i learn from Taipan as to how much cash is really needed the more nervous I am getting.

goo luck to all