Leon,
I think you summed it up rather well.
As you know Federal law enforcement is typically very tight-lipped about what's going on. I'm convinced now that the problem is so widespread that even some of the highly esteemed "good guys" are doctoring cards since it's so easy to get away with.
What's really telling is that since posting that controversial thread 2-1/2 years ago, I now try to make it a practice of contacting the seller prior to bidding on his graded card auctions and ask up front if he alter cards in any form and if so what alterations does he make. You'd be surprised how many evade the question, don't respond, or ask if I'm investigating them. Everyone who buys graded or ungraded cards should do likewise.
What needs to happen is that Ebay and other auction sites need to force the sellers to respond to a default setting that requires the sellers to make disclosures in the auction listing stating best to the seller's knowledge no alterations have been made to this card, or if alterations have been made, they are the following.... By doing this it closes several loopholes that may give a card doctor an "out" from being prosecuted.
Right now I'm reading Harry Markopolos' book No One Would Listen regarding trying to blow the whistle on Bernie Madoff. What I've read so far is that in his opinion the SEC didn't really understand how the market worked and as a result repeatedly ignored obvious signs that something very wrong was going on and Markopolos had to just stand back in total frustration watching thousands of people get ripped off over a ten year period. Boy, can I identify with his story.
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