Serious Questions: WSE and Ginko Financial

Before the Ginko Financial uproar which has taken the spotlight - even with it closed - I was focusing on the World Stock Exchange (WSE) and some of the problems related to it. Oddly enough, the involuntary transfer of Ginko's clients assets into Ginko Perpetual Bonds has gotten me right back where I started. Further, after I pulled investment from WSE - Ginko, which is linked to the WSE through Hope Capital, tossed me right back. Well, here I am - about $183,300L of me. And I'm small potatoes - some of the numbers I've had people confide in me are certainly worth a few calls to a lawyer.

Here we are. As Mystik commented, it's quite likely that the WSE will turn all of the new GPB owners into a press release of some substance - something which will be quoted by the mainstream press perhaps.

But the WSE has serious problems. For example, a brief list:

• Security: The WSE wasn't hacked as much as it was lacking in security - in fact, it gave the rights to Thurston Hallard which allowed him to steal. Reportedly, Thurston Hallard was not the only one with these rights, and it is a question as to who has those rights at this time.
• Accountability: The WSE posted that it would announce the results of an investigation related to the misappropriation of funds, but to date has not given a statement it would stand behind on it's website. Oh, and let's not forget ATM queries gone bad.
• Censorship¹: The WSE is known to remove announcements by companies listed on WSE if those announcements are considered to be negative for the WSE image. Examples? Sure, I mirrored some announcements here, and the reference links are now dead. BCX Financial Leaving WSE, Heading to International Stock Exchange.Cybertek Leaves WSE, Listing with ISE. Countless Galaxies and Atlas Venture Capital Moving to ISE. Who knows what else has been removed from the public eye? And Eloise Pasteur noticed as well.
• Sweeping Things Under The Carpet: The 'WSE Hack' was not to supposed to be made public, but Mystik Boucher brought it to light. Anyone remember Montana Poker Room? That was swept under the carpet as well, and if not for the persistence of Unga Pau may have just silently passed. And KCG still remains a mystery.

The ties betweenc Lukeconnell Vandeverre and Niholas Portocarrero make the whole GPB thing look like a continuation of the same thing to people who have been following this closely. I'm reminded of what Benjamin Duranske wrote:

I’m guessing someone is going to have to get sent to jail — or Linden Lab is going to have to get named as a defendant in a suit — before this ends.

The Ginko Financial drama hasn't really ended. It's just hidden under a cloak of WSE, and that cloak has some interesting holes in it. The WSE should be busy removing that cloak right about... last week. Or the week before. It's time to clean things up and air them out, especially with people burned by Ginko Financial joining the fold. Are you ready?

And other stock exchanges? The ISE and AVIX are certainly not being forgotten, but to date there have not been any issues related to them that I am aware of. If there have been issues, please - make me aware. Message me inworld.

We're turning the lights on.

Let's watch what runs.

¹Business owners and groups who want a free and an uncensored area to post their information can message me inworld for a Your2ndplace.com blog. The only rule at this point is that the headlines be PG rated, as there are inworld RSS feeds that may be in PG areas.