唐炜臻给安省省长麦坚迪的公开信:为什么华人巴菲特应该任命为安省证券会主席

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An open letter to the Premier of Ontario and Ontario Government 

Dear Premier Dalton McGuinty 

Re: Why Chinese Warren Buffett should be the Chairman of Ontario Securities Commission 

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 Janaury. 2009 at the Toronto Conventional Center by your appointed minister of Tourism and Culture, the Honorable Michael Chan. I was a prominent Canadian Chinese leader.  

I am writing a letter to you today for the sake of province and investors and economy to change OSC where it is the most darkest in our society and save it from collapsing.  

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 where everybody want to do a job and have good government job, but do not know how.  Nobody have the right 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, the current system and practice of OSC makes real financial fraud and improper fraudulent practices exist everywhere in the industry, it is harmful to the industry and to investors and public and need to change.   

OSC can not tell what is fraud and what is not fraud, it only looks phenomena, process and the obvious and not investigate fundamental problems such as motivation and real evidences, 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 financial crime problems. OSC becomes a rumor and hearsay manufactory and destructive tools.  

If Chinese Warren Buffett were a Chairman, I will prevent and find any financial fraud and fraudulent practices in the beginning and kill them, 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.  

Current it is wrong and harmful what OSC has all the wrong people and expertise, especially the wrong leader and 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 and harmful to business and investors, so to the economy and the country.  

OSC let all real financial fraud and criminals go free such as BreX and Eaton, Nortel and numerous hiding cases, everybody cook their accounting books and OSC is making and cooking cases to fool the public that they are protecting investors when it destroy business and investors, it takes real business and financial innovation as fraud and crime but makes crime and fraud as normal practice and the business. 

Our financial industry is full of fraud and fraudulent practice and OSC become home of registered 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 it make 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 of OSC  and the industry and help you to fix the current problems and lead the world so occupy Wall Street and Toronto will never happen again and everybody will be happy 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 all businesses  and investors, never use cease trade order which is anti-business and harm investors so investors can control and decide their affairs and fate freely and I will never punish investors because of management mistakes and misconduct and prevent OSC from making too much mistakes.  

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.   

.  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 and responsible to investors and never lie to investors and the public like the OSC did fix the problem from the root.. 

If Chinese Warren Buffett were a Chairman of OSC , The industry will 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 since I am a public figure and everybody will watch and prevent me to become Chinese 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. 

If Chinese Warren Buffett were a Chairman of OSC, you and the province will never have financial problems, not only save lot tax payers’ money and and stop killing business, but also attract huge investment and create wealth to investors, the province and the public. 

Dear Premier Dalton McGuinty, I urge you study and investigate the issues and case and leadership, it is very serious.  

Sincerely yours  

 

Weizhen Tang 

2010  Toronto Mayoral CandidateChairman and CEOWeizhen Tang Corp 

19 Robinter DriveToronto, OntarioM2M 3R3Tel: 416-222-7070, 

Email: [email protected] 

Date: Nov. 5, 11 . 

 

  

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