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Investing 101 - Jul 27, 2006 - Printable Version
- "The Naked Truth: Counterfeiting the American Dream" Questions and Answers
by Mark Faulk
(Editor's note: this is a list of questions and answers about the upcoming book "The Naked Truth: Counterfeiting the American Dream" that was sent to me by the CMKX Shareholders' Coalition for Market Reform.) 1. What prompted you to write a book about this company (CMKX)?
I was looking for a “vehicle” to write something about the stock market, since I’ve been covering the scandals in the market for two and a half years now. Kevin West, a fellow “stock market reform advocate,” approached me about hearing the CMKX story. I agreed to meet with John Martin and his wife Jill in Washington, DC, when I was attending the NASAA forum on naked short selling. The more I heard about the story, the more hooked I became. While the CMKX saga is definitely NOT the ideal “poster child” for naked short selling that I envisioned, it is a great story, and it actually encompasses everything that is wrong with our stock market system.
2. How long have you been writing the book?
I began researching it in mid-January, and probably first put “pen-to-paper,” or more accurately, “fingers to keyboard,” in late February.
3. Have you written any other books?
This is my first full-length book (I actually have two others in progress). I’ve co-written several plays, hundreds of articles, short stories, songs, essays, and probably a total of 800 pages worth of articles and commentaries on the topic of stock market fraud alone.
4. Have you interviewed numerous amounts of people since you began writing?
I’ve interviewed somewhere around a hundred people for this book from a variety of sources, some by email, some in person, and some on the telephone.
5. Do their opinions and stories vary greatly?
While there is a “common thread” of absolute truth that seems to run through most of the stories, the viewpoints and details of the stories are as varied as the people. Sorting out the truth from the rumors and the outright lies has been the biggest challenge I’ve faced in this project.
6. Have you interviewed any shareholders?
Of course, probably 50 overall, some have sent in email stories and responses, some have been phone interviews, and a few were in person.
7. Have you interviewed any company officials?
Yes. I can’t say whom just yet, but I’ve spoken with several company officials, and in other cases, their “representatives.”
8. Have you interviewed members of the task force?
Yes, but again, I can’t specify whom at this time.
9. Have you interviewed any joint venture partners?
I’ve interviewed company officials from some of the joint venture partners.
10. When do you think the book will be completed?
Never. Lol, not really. It’s 90% completed now, but in all honesty, I’m waiting on the press release (just like everyone else), I have two important interviews to conduct after the PR is released, and then probably a week’s worth of writing after that to wrap it up. I believe at that point it takes about 30 days to print and begin shipping.
11. What has been your biggest challenge while writing this book?
Really, there have been a lot of challenges. The “sorting out the truth from the rumors” that I mentioned earlier is certainly one.
Another is how to balance the need for getting the information in the book with the idea that it needs to be accessible and readable to the average reader, and not just CMKX “boardaholics.” I want everyone to be able to follow the story, so I hope that some people who are more involved don’t think it’s too simplistic. The story is incredibly complicated, which makes it hard to write in an understandable format.
The third challenge is the shear volume of material available, and the fact that it (at least at this time) hasn’t been resolved yet. There are some aspects of this saga that might never be resolved, just like the Kennedy assassination and UFOs.
12. As a person close to the shareholders, can you understand the addictive behavior demonstrated by the majority?
I wasn’t aware of it at first, but now I’m almost too aware of it. I will say that the almost obsessive and highly-emotional connection to CMKX is an integral part of the book, because it’s what sets this story apart from the usual penny stock company story.
13. You have often said during your CFRN interviews that CMKX shareholders have the ability to force positive changes....can you expand on that a bit?
They are the most powerful single shareholders’ advocate group ever, in my opinion. Their involvement in the overall battle against stock market fraud has been invaluable, such as attending Eagletech CEO Rod Young’s hearing in front of the SEC commissioners, and lobbying the SEC, Congress, and the media to raise awareness of the issue. Public awareness and public pressure are the two most important catalysts for change.
I believe that this group of shareholders can continue to be the driving force in helping to enact changes in our system, but they have to see the “big picture,” and not just obsess on the outcome of the CMKX saga. Regardless of the outcome of the CMKX situation, they have an opportunity to help both themselves and others…to see that the same thing doesn’t continue to happen over and over again. The system HAS to be changed in order to protect the average investor, as opposed to benefiting just the ultra-wealthy. I’ve always referred to this as doing something for the Greater Good…and I believe that is the responsibility of every American, and in fact, every person on Earth, to try to make things a little better for ourselves, those around us, and for future generations as well.
14. What goal do you hope to accomplish by writing this story?
I hope to raise awareness of the problems that our current stock market system and our entire economy faces, and more importantly, to make people aware that this issue isn’t just about shares of stock, or dollars and cents, but that it involves and affects human lives.
15. How has this story affected you personally?
Whew, tough question. I actually discuss that to some degree in the intro to the book, so maybe I’ll leave that for the book. Actually, I’ll close this out with a single paragraph taken directly from the middle of the Introduction, where I discuss the process of writing the book. We’ll call it a sneak preview:
“One day, a few weeks ago, I was speaking with John Martin on the phone, asking questions, as I am wont to do, asking about the message boards, this rumor and that one, and telling him what I thought about one thing I had read or another, when he stopped me in mid-sentence and said, almost nonchalantly, “It sounds like you’re catching the CMKX bug.” I laughed him off, after all, I was just writing the story, it had nothing to do with me, I wasn’t personally involved with it. Now, here I am, weeks later, operating on an average of 3 to 4 hours of sleep a night, obsessing over everything I’ve learned, and how much I don’t know, hoping that I “get it right,” and writing this introduction…at 5:30 in the morning, having stayed up all night on little more than caffeine, in the form of tea, coffee, and chocolate-covered expresso beans, and pure adrenaline. I am, for all practical purposes, like thousands of shareholders, addicted to CMKX.”
For more information on the CMKX Shareholders’ Coalition for Market Reform, go to:
http://www.cmkxshareholderscoalition.net/
Mark Faulk is the Editor of The Faulking Truth, and the author of the upcoming book entitled "The Naked Truth: Counterfeiting the American Dream," due out in August, 2006. For more information on the book and on the stock market scandal, go to http://www.faulkingtruth.com , and to pre-order your copy, go to http://www.theownersgroupinc.com/cart/
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http://www.financialwire.net
http://www.americaneedstoknow.com/
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