The whole thing sounds ridiculous to me. An organized gang of serial killers? No way. To me it sounds like a bunch of parents in denial. They don’t want to admit that their kid was just a dumbass who got loaded and walked into the Mississippi, so they construct this elaborate conspiracy theory, finding specious connections and “codes” wherever they look.
As to the smiley faces – they admit they’re all different and have no consistent, recognizable signature, and this is stuff these guys are going looking for long after the fact, They go back to sites months or years later, look for any repository of graffiti in the general area and if they see any kind of a smiley face, they say, they’ve found the signature.
Also, how do they know where these dudes fell into the water? To me that just sounds like a convenient way to make the graffiti fit their theory. A smiley face was found on a bridge 3 miles upstream from where the body was fshed out of the river? That’s where he was dumped in!
The most implausible aspect to me is the ludicrous idea that it’s a group. Serial killers don’t work in groups. There are some rare instances of serial killers working in pairs, but not in groups, and the idea of a highly organized, carefully executed 10 year conspiracy to go around dumping shitfaced college guys into ponds just does not sound the least bit credible to me. It reminds me of the Satanic cult conspiracies of the 80’s. How would these people even find each other? What is their motive? How do such highly disturbed individuals stay so tightly controlled for 10 years?
The whole theory is based on nothing but the completely unremarkable fact that sometime smiley faces can be found among the grafitti in some vague general areas where some victims may or may not have gone into the water. It can’t even be proven that those faces were painted at the time the victims drowned. They could have been painted months or years later (or months or years before).
The FBI is apparently rejecting this theory, and so shall I. I think some parents just have a very hard time accepting that their kids can die in such an abrupt, unglamorous, foolish, pointless manner and they want to find some other kind of meaning or purpose in it. To me they seem like Russell Crowe in A Beautiful Mind, clipping out magazine articles and newspaper ads, obsessively looking for patterns. I’ll believe in ghosts before I’ll believe in a serial killer’s club, and I will never believe in ghosts.