An open letter to the Premier of Ontario
Dear Premier Dalton McGuinty
Congratulations to your recent success in the election of Ontario! I guess you know me and sent letter of congratulation to my successful Second North American Chinese Wealth Summit in 2009 at the Toronto Conventional Center by your appointed minister of immigration, The honorable Micheal Chan. I was a prominent Canadian Chinese leader.
I am writing a letter to you for the sake of province and investors and economy to change OSC and save it from collapsing.
Why Chinese Warren Buffett should be the Chairman of Ontario Securities Commission
Financial Industry is the most important part of our society and nerve of our economy. It is supposed to be the solutions to the economy and province, but become the problem of the province and country.
It says The mandate of the Ontario Securities Commission (OSC) is to provide protection to investors from unfair, improper or fraudulent practices, and to foster fair and efficient capital markets and confidence in capital markets, that is right but OSC failed its mandate completely in the past, it become the center of registered fraud and destructive role for business, investors and economy as explained later from my own experience and reasons.
Financial fraud and unfair, improper or fraudulent practices were never prevented, but encouraged in our industry because of OSC and its lack of vision, experience and leadership. OSC supposed to be the leading organization of listed public companies and know how help its members, economy and know how to protect investors. It needs high level of visionary financial businessman and entrepreneurs and needs leading investors, such as Chinese Warren Buffett who is one of them.
The problem is that OSC becomes a court or legal organization, or police, power and authority which is detrimental to the economy and investors. where everybody want to do a easy job and have good government job, but nobody have financial expertise and experience and nobody know what is real financial fraud and improper fraudulent practices and know how to prevent them in the beginning so real financial fraud and improper fraudulent practices exist everywhere in the industry, it is harmful to the industry and to investors and public, OSC can not tell what is fraud and only find fraud in the end when everybody knows and even if OSC find any crime, it do not know how to stop and resolve.
If Chinese Warren Buffett were a Chairman, I will prevent and find any financial fraud and fraudulent practices in the beginning, not in the end that is the way to protect investors and markets to help OSC and save the system. You need a businessman and investors to find any fraudulent practice, not lawyers or judge.
Currently it is wrong and harmful what OSC do is to hire a lot of lawyers and legal professionals and pay them high salaries and have good life at the expenses of investors and tax payers, nothing get done or nothing done properly if you go to investigate their work and job, you will be very disappointed, you can take Chinese Warren Buffet ‘s case or SINO- FOREST CORP as classic examples why OSC is not only useless, but is destructive to business and investors, so to the economy and the country. OSC let real financial fraud and criminals go such as BreX and Eaton, Nortel and numerous hiding cases, but take real business and financial innovation as fraud and crime and make crime and fraud as the business. Our financial industry is full of fraud and fraudulent practice and OSC become home of fraud and fraudulent practice is encouraged and protected. Too many financial crimes in the industry, find scapegoat is not enough and find the wrong scapegoat like Chinese Warren Buffett will be worse and OSC look bad and shame. Chinese warren Buffett can tell you how and why.
If Chinese Warren Buffett become the Chairman of OSC, I will change the direction and fix the current problem and lead the world so occupy Wall Street and Toronto will never happen again.
If Chinese Warren Buffett were the chairman of OSC, I would rely on the market and investors, only with the assistance of investigators and lawyer, not rely on the investigators and counsel.
If Chinese Warren Buffett become the Chairman, I will help business and investors, never use cease trade order so investors can control and decide their affairs and fate and I will never punish investors because of management mistakes and misconduct.
If Chinese Warren Buffett were a Chairman of OSC, I will bail out investors if there is fraudulent practice and crime and I will ask the management to use their own money and asset to pay investors back to build investors ‘s confidence.
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If Chinese Warren Buffett were a Chairman of OSC , I will not only kill financial fraudulent, but also prevent financial crisis in the future.
If Chinese Warren Buffett were a Chairman of OSC, I will be open and honest and respectful to investors and never lie to investors like the OSC did in the past.
If Chinese Warren Buffett were a Chairman of OSC , The financial industry will be boom and OSC will be well respected and rewarded.
If Chinese Warren Buffett become the Chairman of OSC, I can not become Chinese Madoff s and I am the only one con not become the Chinese Madoff or Canadian Madoff since I am a public figure and everybody will watch and prevent me to become any Madoff, it is only the Chairman of OSC could become the Madoff , who is few of the exposed leading financial criminals and former Chairman of NASDAQ exchange and dear friend of Chairwoman of SEC, US counterpart of OSC.
Dear Premier Dalton McGuinty, I urge you study and investigate the issues and case and leadership.
Sincerely yours
Weizhen Tang
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狗仔卡
发表于 2011-11-21 18:57:28
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