forrest have been cleared , page-17

""Just didn't seem like much pro-asic coverage in the press, it was presented almost as a side note"".

The press has been relentless in its derision of Andrew and FMG for a long time, and now they have to eat humble pie.

Why ASIC pursued this case, - even as real crooks were ripping off millions, - is not clear to me. I was and remain a shareholder right through the period, and read every notice eagerly at the time. To me it seemed doomed from the start, and ASIC showed its ignorance of how the market works by its constant carping that assumed traders were dumb and easily led. The whole concept of perception, anticipation, and sentiment, was lost on them.

ASIC is made up of public servants, ie. people who are afraid to try their own hand in business.

Here's one for ASIC. Last year I wrote this to ASIC;

<<"My letter concerns the Managing Director of the National Australia Bank, Ahmed Fahour, and his recent sale of $3.2m worth of shares at $24.62 just days before the NAB announced a large issue at $20.

Even if the sale was legally within the allowed director-selling window, as a director he must have been in possession of the market-sensitive news of the impending issue at a considerable lower price. The share price did quickly dip to the issue price and below, as might have been expected.

The fact that the price was well above the issue price at the time of Mr Fahour's sale confirms that the public and other shareholders were not in possession of the impending news of the issue, although Mr Fahour as a director must have known.">>

ASIC responded by saying that they had looked at this in some depth, - and decided not to act.

Mr Fahour is about to head up Australia Post. My case rests.