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http://www.thesanitycheck.com/BobsSanityCheckBlog/tabid/56/EntryID/706/Default.aspx
tlo.
"I know nothing"
-Manuel,
"They who can give up essential liberty to purchase a little temporary safety,deserve neither liberty or safety"
-Benjamin Franklin
"The people are the only sure reliance for the preservation of our liberty" -T.Jefferson
The SEC & Naked Short Selling
The latest Glick Report
http://glickreport.blogs.foxbusiness.com/2008/07/29/the-sec-and-naked-shorting/
tlo.
RICO Indictments coming, for NSSr's
http://seekingalpha.com/article/87653-illegal-short-sellers-may-face-rico-indictments
and this comes from one of the worst hedge fund advocates, the times they are a changing.
tlo.
"I know nothing"
-Manuel,
"They who can give up essential liberty to purchase a little temporary safety,deserve neither liberty or safety"
-Benjamin Franklin
"The people are the only sure reliance for the preservation of our liberty" -T.Jefferson
Patrick Byrne on NSS/DTCC July 28/Fox Business Interview
http://www.foxbusiness.com/video/index.html?playerId=videolandingpage&streamingFormat=FLASH&referralObject=2704143&referralPlaylistId=search|patrick%20byrne
commercial @ beginning
tlo.
Forbes article on SEC emergency rule
http://www.forbes.com/opinions/2008/07/24/sec-shorting-regulation-biz-cz_rl_0726croesus.html
tlo.
Hedge Fund/NSS article from AsianMedia
http://www.asiamedia.ucla.edu/columns.asp?parentid=95124
tlo.
"I know nothing"
-Manuel,
"They who can give up essential liberty to purchase a little temporary safety,deserve neither liberty or safety"
-Benjamin Franklin
"The people are the only sure reliance for the preservation of our liberty" -T.Jefferson
Whining Short Sellers, Liz Moyer, Forbes article
http://www.forbes.com/business/2008/07/23/sec-shorting-funds-biz-cx_lm_0723short.html
tlo.
The Mitchell Report from Deep Capture
2 new entries July 23 & 24
http://www.deepcapture.com/category/djr/
tlo.
"I know nothing"
-Manuel,
"They who can give up essential liberty to purchase a little temporary safety,deserve neither liberty or safety"
-Benjamin Franklin
"The people are the only sure reliance for the preservation of our liberty" -T.Jefferson
Patrick Byrne/BNN Interview on NSS
commercial @ beginning
http://watch.bnn.ca/#clip68528
tlo.
Patrick Byrne/Fox Interview on NSS 25 July
commercial @ beginning
http://www.foxbusiness.com/video/index.html?playerId=videolandingpage&streamingFormat=FLASH&referralObject=2629930&referralPlaylistId=search|patrick%20byrne
tlo.
"I know nothing"
-Manuel,
"They who can give up essential liberty to purchase a little temporary safety,deserve neither liberty or safety"
-Benjamin Franklin
"The people are the only sure reliance for the preservation of our liberty" -T.Jefferson
Patrick Byrne/Fox Interview on NSS/SEC Emergency rule 22 July
commercial @ beginning:
http://www.foxbusiness.com/video/index.html?playerId=videolandingpage&streamingFormat=FLASH&referralObject=2525999&referralPlaylistId=search|patrick%20byrne
tlo.
"I know nothing"
-Manuel,
"They who can give up essential liberty to purchase a little temporary safety,deserve neither liberty or safety"
-Benjamin Franklin
"The people are the only sure reliance for the preservation of our liberty" -T.Jefferson
Mechanics of Naked Shorting
http://www.gamingthemarket.com/2008/06/mechanics-of-naked-shorting.html
tlo.
Cramer on Cox/NSS
http://www.cnbc.com/id/15840232?video=799620804&play=1
tlo.
Bob O'Brien comments on SEC emergency rule latest development:
http://thesanitycheck.com/BobsSanityCheckBlog/tabid/56/EntryID/701/Default.aspx
tlo.
Deep Capture latest from Patrick Byrne:
http://www.deepcapture.com/did-someone-say-world-historic/
tlo.
Remember, the threats you face you can overcome. The threats you run away from for any reason win - Jim Sinclair.
The effort is to out those who are both pool raiding and those naked short selling your issue. One is conspiracy and the other is simply a crime. Identification is the first step. They will be identified and then they will be dealt with. We will come at them at every angle from rewards for information to cyber investigators and forensic accounting. Click here to read more about our efforts.
http://www.jsmineset.com/ARhome.asp?VAfg=1&RQ=EDL,1&AR_T=1&GID=&linkid=6271&T_ARID=6326&sCID=&sPID=&cTID=-1&cCat=&PRID=-1&cSubCat=&archive=&highstr=shorting+pinks&UArts=
Dave Patch says it best - Again! SEC screw it up.
http://www.investigatethesec.com/drupal-5.5/node/338
tlo.
Cox buckles under pressure from Market Makers.
What a freaking mess. By allowing Market Makers to Naked Short he has just nullified his new rule. Can you spell INCOMPETENT, what a joke this guy is. As far as Goldman Sachs,JP Morgan Chase, Citigroup & others though I could not care less, these are some of the biggest Naked Shorters out there, but they don't like it when they get a taste of their own medicine.
Crime of the Century & now Farce of the Century.
http://uk.reuters.com/article/fundsNews2/idUKN1749299320080718?sp=true
tlo.
Dave Patch weighs in on new SEC rule:
http://investigatethesec.com/drupal-5.5/StockgateToday
tlo.
Mark Faulk comments on SEC emergency ruling:
http://www.faulkingtruth.com/Articles/LettersToEditor/1043.html
tlo.
Deep Capture/Mark Mitchell latest on the emergency action of the SEC to combat NSS.
The SEC Declares Emergency, and Joe Nocera Yammers On
July 15th, 2008 by Mark Mitchell
Wow!
Folks, today was history in the making. The Deep Capture thesis, which is that miscreant short-sellers have put the American financial system at risk, can no longer be in doubt.
First came the stunning announcement that the SEC has sent subpoenas to 50 hedge fund managers as part of a major investigation into rumor-mongering and illegal short-selling of Bear Stearns and Lehman Brothers. Then came the even more remarkable announcement from SEC Chairman Christopher Cox that he is instituting an “emergency action” requiring traders to pre-borrow stock before shorting all “substantial” financial companies.
Of course, there is a some bitter irony here. Over the years, hundreds of public companies have been grievously wounded by hedge funds who sell phantom stock (ie. stock they have not borrowed), and the SEC has done nothing. Now Wall Street finance companies, including the very investment banks whose prime brokerages facilitated the creation of phantom stock, find themselves victimized by phantom stock, and the government decides it’s time to do – or at least, say – something about it.
We’d be glad to see the big banks suffer their Shakespearean fates if the SEC were to rescue the hundreds of innocent victim companies who have been hollering about the phantom stock problem for years. We’ll see if the SEC extends the emergency action to the rest of the market, as Mr. Cox suggested it might.
Either way, all the talk of an “emergency” suggests that the SEC recognizes just how big the phantom stock problem has become. Obviously, it sees the catastrophe of Bear Stearns as a clear-cut case of short-seller abuse. A well-timed false rumor, presented as fact by CNBC, combined with phantom stock sales, took the bank down. Now, the same people are using the same tactics against Lehman Brothers. Fannie and Freddie are on the brink. And experts say there are 300-plus other publicly traded companies – including 50 finance companies — getting similarly clobbered.
An “emergency,” indeed.
All of which makes certain journalists look like bona fide clowns. For years, a clique of influential reporters—I call them “the Media Mob”–have insisted that short-sellers do no wrong and that phantom stock is not a problem. On Friday, Deep Capture noted that the media’s hedge fund apologists, including Joe Nocera of the New York Times, had shied away from commenting on the collapse of Bear Stearns.
The next day, Joe Nocera of the New York Times commented on the collapse of Bear Stearns. Predictably, he argued that short-sellers had nothing to do with it. He wrote, “it takes some gall for Bear Stearns to blame short sellers for its failure…what Bear Stearns management fails to mention is how much of its capital was tied up in subprime sludge.”
The sludge, Joe, is not the point. As your close friend Jim Cramer has described (behind closed doors, if not on CNBC), “the game” of market manipulation is to find a weakness and amplify it out of all proportion to reality. It is one thing to say that Bear’s balance sheet was weak (I agree, Bear was a piece of crap). It is quite another thing to get a compliant television reporter (in this case, Cramer crony David Faber, on CNBC) to spark a run on the bank by reporting, as if it were fact, the completely false and utterly catastrophic news that Goldman Sachs had cut off Bear Stearns’ credit – and to do that while somebody’s selling millions of shares that do not exist.
As we said last week, the SEC shouldn’t just subpoena the hedge funds: It should subpoena CNBC’s David Faber. He says a hedge fund “friend” gave him that information about Goldman cutting off Bear’s credit. That hedge fund “friend” very likely broke the law. The SEC needs to find out who he is. Journalists have no constitutional right to cover up crimes under the guise of protecting sources.
But short-sellers don’t commit crimes. So says the Media Mob. Why do they say this? The kindest explanation is that Nocera and crowd honestly believe that it is simply too dangerous to criticize shorts because shorts are so absolutely “vital” – the only people able to provide negative information to the markets and the media. This worn notion fails, of course, to make the distinction between law-abiding short-sellers who provide real analysis and crooks who circulate scurrilous lies while churning out phantom stock.
It also contains a stunning admission: that the financial media is incapable of conducting financial research on its own. Journalists consider short-sellers “vital” sources of negative information because journalists do not have the wherewithal to look at a balance sheet and determine for themselves whether something might be wrong. Baffled by all those numbers, the journalists turn to short-sellers (and sometimes even convicted criminals) for help. Which is another way of saying that our financial media is written in large part by financially motivated Wall Street sharks–a real abomination, when you think about it.
But in the case of Nocera, there is something even more sinister at play. To understand Joe Nocera’s positions on short-selling, it is necessary to understand the crowd he runs with. It is a clique of journalists and short-selling hedge funds, most of whom are connected in some way to CNBC’s Jim Cramer.
Some journalists challenge power; this clique of journalists covet it. They desire nothing more than to be players in “the game.” (Some are quite blatant about this; witness Nocera pal Herb Greenberg, who sells “forensic” research to short-sellers while using them as sources in his CNBC reporting).
These journalists defend their short-selling friends at all costs. They routinely pat each other on the back and pimp each others’ books. They quote each other in their stories, and snicker almost out loud as they attack the same public companies, always parroting the same financial analysis, delivered to them by the same small group of dubious hedge fund managers.
This is an old boys and girls network tighter than anything on Capitol Hill – and infinitely more saddening, because the media’s not supposed to be this way. .
You could see this network at work in the case of Gradient Analytics, a research shop that publishes blatantly false information for short-selling hedge fund managers, many of whom are connected to Cramer. For awhile, Jon Markman, a former editor for Cramer’s website, TheStreet.com, was running a dodgy hedge fund out of Gradient’s back offices, while one of Gradient’s managers was accumulating multiple identities and social security numbers to conceal his activities.
At the same time, the Media Mob, including CNBC’s Herb Greenberg, who was Markman’s former co-editor at TheStreet.com, churned out stories containing Gradient’s false information about companies that also happened to be victimized by phantom stock – and still more stories labeling anyone who mentioned the words “phantom stock” or “naked shorting” as “loony” or “seeing UFOs.” A former Gradient employee testified under oath that Herb conspired with Gradient and a hedge fund manager named David Rocker so that Rocker could illegally profit from his stories on CNBC and Marketwatch.com.
When the SEC launched an investigation into Gradient, and issued subpoenas to Jim Cramer and Herb Greenberg, the Media Mob rose up in their defense. Pathetically, the SEC allowed itself to be terrorized by this mob, and closed down its investigation before enforcing the subpoenas. When I began a story about this for the Columbia Journalism Review, the Media Mob turned on me. Joe Nocera called my editor to defend Herb and pressure CJR to kill my investigation. (This was unheard of; working journalists do not make quiet calls to try to have stories killed).
Then Nocera, Herb, and their friend Dan Colarusso, of the New York Post, sat on a famous panel at the Society of Business Editors and Writers. The panel’s stated mission was to defeat “business journalism bashers” – namely, Deep Capture reporter Patrick Byrne and Bob O’Brien, a.k.a. the “Easter Bunny,” a devastatingly effective blogger who had been writing about the media’s failure to cover the problem of phantom stock.
A Deep Capture ally snuck into Nocera’s panel and got it all on tape (see “The Story of Deep Capture” for the recording). Colarusso vowed to “crush” Patrick and the Easter Bunny with “barrels of ink.” Herb said that he wouldn’t write about phantom stock because it’s “not what I do” – even though a majority of the companies he had written about were phantom stock victims. Nocera, meanwhile, said that naked short-selling (phantom stock selling) “makes his eyes glaze over” and he “can’t be bothered” to cover it because “life is too short.”
Maybe so, but before and after that panel, Nocera wrote columns insisting that short-sellers do no wrong and phantom stock is not a problem – even though he had been presented with heaps of data proving otherwise. Nocera’s columns, widely circulated and praised by the Media Mob, contained no data and not a single reference to a credible source. One of his columns quoted, as an expert — Herb. Another column quoted the expert Roddy Boyd, then a reporter for the New York Post.
I know why Nocera quoted Roddy – Roddy’s a card-carrying member of the Media Mob who has worked closely with criminals doing dirty work for Cramer-affiliated short-sellers. (See “The Story of Deep Capture” for more on this.) Still, this was something amazing: the New York Times quoting a New York Post reporter as an expert! You’d think some editor somewhere would have wondered about this. (Roddy Boyd, now with Fortune, is, not incidentally, one of the few reporters still insisting that short-sellers of Bear Stearns and Lehman have done no wrong).
Last month, after we named Nocera in “The Story of Deep Capture,” Nocera wrote a column in which he was critical of Milberg Weiss, the law firm that was caught paying kickbacks to plaintiffs who filed bogus class-action lawsuits against public companies. He wrote, “I’ve long thought that [Milberg] ran a kind of extortion racket, filing class-action lawsuits against companies whose stock had dropped – without a shred of evidence that any wrongdoing had taken place – and then torturing them with legal motions until they settled.”
What Nocera did not mention (though we made it clear in “The Story of Deep Capture,” which Nocera had read) is that Milberg Weiss coordinated its attacks on public companies with short-selling hedge funds, skeezy “independent research” shops (most notably, Gradient Analytics) and Nocera’s media friends.
Indeed, a Gradient timesheet, obtained by Deep Capture, shows that while Gradient was allegedly colluding with Herb Greenberg, its employees were getting paid by the hour to work for Milberg Weiss. .
But Herb is a friend of Nocera, Gradient’s short-selling clients are friends of Herb – and well, you know how it works. These journalists don’t get their friends in trouble. Indeed, check their work – not one of them, in all their years, has ever identified, or even hinted at, a single instance of short-seller wrongdoing.
In his most recent article apologizing for the short-sellers who destroyed Bear Stearns, Nocera refers extensively to one of our favorite hedge fund managers, Jim Chanos, of the aptly named Kynikos (“Cynical,” in Greek) Partners. This is the fellow who provided a rent-free beach mansion to a hooker employed by Elliot Spitzer, who was Jim Cramer’s college roommate. Chanos is also the fellow who helped Bethany McLean of Fortune magazine break the Enron story, which partially explains why his media fans seem to believe he can do no wrong. Everything he says–including his reassurances that phantom stock doesn’t exist–is reported as fact.
So now, Nocera reports that Chanos believes that, in the case of Bear Stearns, there were no crimes committed by short-sellers. And, according to Nocera, Chanos “knows what he’s talking about. In the last days of Bear Stearns’ death spiral, a top executive called Mr. Chanos, who was not short the stock but had been a client for years. The executive pleaded with him to go on CNBC and tell the world that all was well at Bear Stearns…Mr. Chanos declined the request.”
This is at least partly false. Good sources tell us that Chanos was short Bear Stearns, though he may have already cashed out “in the last days” of the “death spiral.” As for that “top executive” at Bear Stearns, he seemed to be doing his job by asking people to vouch for his company. Surely, he has nothing to hide. Why does Nocera keep him anonymous? Did Nocera check to see if this person even existed? Well, anything’s possible.
In any case, it is entirely misleading to suggest, as Nocera does, that Chanos really believed that Bear Stearns was not a victim of rumor-mongers. In fact, Chanos believed that it was quite possible that hedge funds were circulating false information about Bear Stearns.
We know Chanos suspected as much because he said so at a recent conference of the Securities Industry and Financial Markets Association. Clearly trying to distance himself from this scandal, Chanos said, “I would urge our regulators at home to examine the sources of these [rumors], whether there’s evidence that people are trading on information they know to be false and inducing others to trade on information they know to be false, which is against the law and always has been…”
On CNBC, Jim Cramer is similarly insisting that illegal short-selling should be stopped. This is a far cry from a year ago, when he said the issue is the most “falsely overweighted topic on Wall Street,” and phantom stock selling is something that happens “very rarely.” Today, he said “hundreds” of companies have been affected, adding, preposterously, that he has long been on a “crusade to bring back honest short-selling.” Cramer, like Chanos, seems intent on distancing himself from the scandal that they helped cover up for the past three years.
Message to Media Mob: The rest of you should also start to distance yourself from this scandal. Do it quickly – before somebody exposes the enormous fraud that you have perpetrated on the American public.
For the complete, very long tale of how a clique of journalists helped cover-up a massive crime on Wall Street, see “The Story of Deep Capture.”
http://www.deepcapture.com/
tlo.
Jim Cramer changes sides in an act of self preservation. Better late than never. The dam is breaking folks.
http://www.cnbc.com/id/15840232?video=794250312&play=1
tlo.
Shorts are going to love this article out from the SEC today:
SEC Can't Bear Naked Short Sellers
Maurna Desmond, 07.15.08, 3:25 PM ET
Naked short-sellers may have no shame, but they're about to take a fall. Chairman Christopher Cox of the U.S. Securities and Exchange Commission told the Senate on Tuesday that he will issue an order creating measures to curb the practice of selling short stock in major American financial firms without borrowing the requisite shares.
The practice of naked short selling is already illegal, but the rules are widely flouted and are not subject to much oversight. Cox said the temporary measures will apply to the shares of government-sponsored Fannie Mae and Freddie Mac, as well as the major commercial banks and brokerage houses that are primary dealers in Treasury securities.
Unrestrained naked short sales can exert significant downward pressure on stock prices, and the news of potential respite bolstered the financial sector on Tuesday. .Primary dealers Goldman Sachs (nyse: GS - news - people ) added 0.9%, or $1.55, to $160.58, Morgan Stanley (nyse: MS - news - people ) added 0.3% to $31.82, and JPMorgan Chase (nyse: JPM - news - people ) gained 1.0%, or 29 cents, to $31.93.
The ultimate short-victim Lehman Brothers (nyse: LEH - news - people ) tacked on 11.9%, or $1.46, to $13.85.
Fannie Mae (nyse: FNM - news - people ) and Freddie Mac (nyse: FRE - news - people ) added roughly 10.0% to their troubled stocks, which rose to $8.03 and $5.83 repsectively.
Fannie and Freddie have been under pressure from the fallout of the subprime loan crisis. The ensuing global credit crunch has crimped the earnings and outlooks of many financial-services companies, attracting short-sellers to their shares.
Cox said he will require short sellers to find and borrow shares before taking short positions in the financials and will "undertake a rule making to address the same issue across the entire market." However, he announced that there would be no return of the " uptick rule," a former regulation established in 1934 by the SEC that required that every short sale transaction be entered at a price that is higher than the price of the previous trade
NEW NSS RULES BEING DRAFTED[/B]
SEC to Limit Short Sales of Fannie, Freddie, Brokers (Update2)
By Jesse Westbrook and David Scheer
Enlarge Image/Details
July 15 (Bloomberg) -- The U.S. Securities and Exchange Commission will limit the ability of traders to bet on a drop in shares of brokerage firms, Freddie Mac and Fannie Mae as part of a crackdown on stock manipulation, the agency's chairman said.
Christopher Cox told the Senate Banking Committee that the agency will require traders to hold shares of the two mortgage buyers and the brokerages before they execute a short sale. The emergency order, to be in effect for 30 days, will bar the practice called naked short selling, in which traders avoid the financial cost of borrowing shares when betting they'll fall.
Cox said the SEC will draft rules ``to address the same issues across the entire market.'
Hedge-fund manager William Ackman, who oversees $6 billion at Pershing Square Capital Management, is among those betting that shares of Fannie Mae and Freddie Mac will fall. There's no indication he is engaging in naked short selling, in which traders never borrow shares from their broker or deliver the stock to buyers.
The SEC has been reluctant to curb short selling ``because it would require a major retooling of the plumbing of Wall Street,' said James Angel, a finance professor at Georgetown University studying short sales. ``It's only when the big Wall Street firms are threatened that the SEC does something about it.'
Trading Abuses
The SEC is investigating whether trading abuses contributed to the collapse of Bear Stearns Cos. in March and the 78 percent drop in the market value of larger rival Lehman Brothers Holdings Inc. this year. Fannie Mae and Freddie Mac have each lost about 80 percent of their value amid speculation the mortgage-market crisis may push the firms into insolvency.
Short-sellers, who borrow shares betting that they'll decline, are spreading rumors about Lehman in an organized attempt to depress the stock, according to Richard Bove, bank analyst at Ladenburg Thalmann & Co. in Lutz, Florida.
``As with Bear Stearns, Lehman has been targeted by the fear-trade,' said Fox-Pitt Kelton Cochran Caronia Waller analyst David Trone in a report yesterday. Lehman should go private so it can avoid the attacks by short-sellers, he said.
Freddie Mac, down as much as 34 percent today before Cox's comments, erased some of the decline and fell $1.49, or 21 percent, to $5.62 at 2:34 p.m. in New York Stock Exchange composite trading. Fannie Mae shares rebounded from a 30 percent drop and were down 18 percent.
Opposition
``I don't think the government should ban short-selling in anything as long as it's fully disclosed, as long as there's no manipulation,' MFS Investment Management Chairman Robert Pozen said in an interview with Bloomberg News yesterday. ``Don't we want the market to work here?'
John Nester, an SEC spokesman, said the emergency order will ``require any person effecting a short sale in the listed securities to borrow the securities before the short sale is effected and deliver the securities on settlement date.'
In traditional short selling, traders borrow stock through a broker and hope to profit by selling shares high and later buying them back at lower prices to repay the loan.
Naked short selling isn't necessarily illegal, unless authorities can prove fraud, such as a scheme to manipulate stock prices.
To contact the reporters on this story: Jesse Westbrook in Washington at jwestbrook1@bloomberg.net; David Scheer in New York at dscheer@bloomberg.net.
Last Updated: July 15, 2008 15:01 EDT
http://www.bloomberg.com/apps/news?pid=20601087&sid=aPE.Apdv7m2E&refer=worldwide
My posts are my opinions. Always dd to your own comfort level.
The Shorts are larger than the total float of the market, that means the short sales are now in EXCESS of the # of shares that are LEGALLY outstanding.
Quote from Bud burrell on this outstanding, absolutely riveting, shocking & totally mind blowing broadcast about NSS, FTD's & whole, whole lot more:
http://www.netcastdaily.com/broadcast/fsn2008-0712-2.asx
p.s the subject matter starts in about the 5 min. mark.
tlo.
Biggest shorted stock: BCIT, be ready playing with the shorts within few days...bloody trades are coming ! eom
Latest podcast from Deep Capture:
http://www.antisocialmedia.net/media/080709-podcast.mp3
tlo.
"..companies will continue to be victimized by Naked Short Selling"
Overstock.com Drops Off of the Regulation SHO Threshold List
Renews Call for SEC to Make Real ReformsSALT LAKE CITY, July 7 /PRNewswire-FirstCall/ -- Overstock.com, Inc. (Nasdaq: OSTK) announced that on July 3, after 838 total trading days (and 130 consecutive trading days), it dropped off of Nasdaq's Regulation SHO threshold list. (Source: http://www.nasdaqtrader.com/Trader.aspx?id=RegSHOThreshold).
Regulation SHO requires the stock exchanges to publish daily a list of companies whose stock has failures-to-deliver within the DTCC above a certain threshold. It also requires mandatory close-outs for open fail-to-deliver positions in threshold securities persisting for over 13 days, with the aim that no security would appear on the threshold for any extended period. Despite that aim, Overstock.com has appeared on the Regulation SHO threshold list for 838 of the 881 trading days that Regulation SHO has been in effect -- over 95% of the days -- including one stretch that spanned 668 consecutive trading days.
"While this development is encouraging," said Overstock.com chairman and ceo Patrick Byrne, "I am suspicious that the blackguards are just shifting unsettled trades outside of the DTCC using ex-clearing transactions. I have learned enough about our nation's stock settlement system to understand it is a black hole within which events follow laws understood by no outsiders, and into which journalists daren't peek."
While Overstock.com has dropped off of the Regulation SHO threshold list, as of July 3, 2008, 437 companies remain on the list: 227 for over 13 consecutive trading days, 49 for over 100 consecutive trading days, and one, Medis Technologies Ltd., for 732 consecutive trading days. (Source: http://buyins.net/tools/short_list.php?ssd=20080703).
"Overstock.com, members of Congress, the U.S. Chamber of Commerce, investors, academics, and other companies have repeatedly called for the SEC to eliminate the options market maker exception of Regulation SHO and to require short-sellers to actually locate and borrow shares before selling them," said Overstock.com senior vice president, corporate affairs and legal Jonathan Johnson. "Until the SEC makes these real reforms to Regulation SHO, companies will continue to be victimized by naked short selling."
tlo.
NSS & Msg Board Bashers
Interesting article by Judd Bagley
http://antisocialmedia.net/?p=127
tlo.
Part 1 of "Crime of the century"
(parts 2-5 on post#836)
http://www.netcastdaily.com/broadcast/fsn2007-1222-3c.asx
tlo.
Re-Cap. Bloomberg Special on Naked Short Selling
http://www.bloomberg.com/avp/avp.htm?clipSRC=mms://media2.bloomberg.com/cache/vIrfhgQPAJ1s.asf#
tlo.
Implications of Naked Short Selling
A radio interview with Patrick Byrne CEO of Overstock.com
http://www.startupstoryradio.com/implications-of-short-selling-with-patrick-byrne-of-overstockcom/
n.b. The subject at hand starts at about 6 mins in, and continues for approximately 39 mins.
tlo.
The Story of Deep Capture by Mark Mitchell
now available in pdf format:
http://www.deepcapture.com/wp-content/uploads/2008/06/deepcapture-the-story-v1.pdf
tlo.
Naked Short Sellers Destroyed Bear Stearns
CNBC/Herb Greenburg/David Faber Implicated
Read the latest episode from Deep Capture
http://www.deepcapture.com/did-a-cnbc-reporter-help-destroy-bear-stearns/
tlo.
Yes I agree he knows what he is talking about, & with Jim becoming proactive on the NSS issue is great news IMO.
tlo.
It's good that someone so well known is putting the NSS in the limelight. This helps put the Hedge Funds etc in the hotseat, about time these criminals started to squirm.
p.s.Got your pm, I hear you. As they say what comes around goes around. tlo.
I read Jim Sinclairs articles each week.
Here is a recent one.
http://www.jsmineset.com/ARhome.asp?VAfg=1&RQ=EDL,1&AR_T=1&GID=&linkid=6135&T_ARID=6190
Jim Sinclair is my HERO! Good find TLO!
http://www.howestreet.com/articles/index.php?article_id=6759
Jim Sinclair to help the NSS cause. Go Jim!
http://www.howestreet.com/articles/index.php?article_id=6759
tlo.
"I know nothing"
-Manuel,(Fawlty Towers)
"They who can give up essential liberty to purchase a little temporary safety,deserve neither liberty or safety"
-Benjamin Franklin
"The people are the only sure reliance fr the preservation of our liberty" -T
That was part 5 of "crime of the century", for those who want to hear more here is:
Part 2:How they scam individual investors.
http://www.netcastdaily.com/broadcast/fsn2008-0531-3b.asx
Part 3:Stock fraud with Wes Christian.
http://www.netcastdaily.com/broadcast/fsn2008-0607-3b.asx
Part 4:Fingerprints at the crime scene, Internet rats.
http://www.netcastdaily.com/broadcast/fsn2008-0614-3b.asx
Part 5:Summary & conclusion.
http://www.netcastdaily.com/broadcast/fsn2008-0621-3b.asx
Sorry cannot find part 1, but go here, maybe you can find it.
http://www.financialsense.com/fsn/main.html
tlo.
Just an appetizer, 2 down, lots & lots more to come as the net widens & people sing like canaries. The FBI says "Hedge funds are flavour of the month".
http://www.stltoday.com/stltoday/business/stories.nsf/0/B802108221DD98AC8625746F00055494?OpenDocument
tlo.
ESSENTIAL LISTENING
Bashers take note, what goes around comes around.
http://www.netcastdaily.com/broadcast/fsn2008-0621-3b.mp3
tlo.
Update on website links for information on NSS:
http://www.thesanitycheck.com/
http://www.investigatethesec.com/drupal-5.5/
http://www.deepcapture.com/
http://investorprotectioncoalition.org/
http://www.businessjive.com/
tlo.
Latest legal action against NSS:(originally posted on Marketwatch)
ATLANTA, May 28, 2008 /PRNewswire via COMTEX/ -- Today the legal consortium of The O'Quinn Law Firm and Christian Smith & Jewell, both of Houston, Texas and Bondurant, Mixson & Elmore, LLP of Atlanta, Georgia filed a Complaint in the State Court of Fulton County, Georgia on behalf of certain shareholders of TASER International Inc. ("TASER") against eight of the largest Wall Street firms, including Bank of America Securities LLC, Bear Stearns Securities Corp., Credit Suisse USA Inc., Deutsche Bank Securities, Inc., Goldman Sachs Group, Inc., Merrill Lynch, Pierce, Fenner & Smith, Inc., Morgan Stanley & Co. Inc., UBS Securities LLC. The Complaint accuses the defendant firms of engaging in a conspiracy to manipulate the market for TASER stock through naked short selling resulting in the creation, loan and sale of counterfeit TASER shares. (Naked short selling involves the practice of selling stock short without borrowing or otherwise obtaining shares of that stock. When a defendant firm short sells shares of TASER stock it does not possess or intend to obtain, that sale can result in the creation of counterfeit shares because the short seller is in effect introducing additional shares into the market rather than engaging in a transaction using existing shares).
According to the seventy-page Complaint, the defendants' illegal naked short selling of TASER stock flooded the market with counterfeit TASER shares. For example, although in 2005 TASER had authorized and issued only approximately 60 million shares of common stock, more than 80 million votes were cast at the company's annual meeting.
The Complaint accuses the defendant firms of violating Georgia's Racketeer Influenced and Corrupt Organization (RICO) Act. "These are not isolated incidents: we believe the trading data evidences an ongoing and coordinated effort to violate securities and other laws," stated Attorney Wes Christian.
The Complaint describes the various means the defendant's have allegedly employed in an effort to conceal their unlawful conduct, including citing instances where the defendant firms have marked short sales as long positions, submitted inaccurate short interest reports and inaccurately netted short interest positions against longs. The Complaint also identifies specific instances in which defendant firms have been fined by securities regulators for this very conduct.
According to the Complaint, by creating, loaning and selling counterfeit shares, the defendant firms have diluted TASER stock and artificially depressed its value, harming TASER shareholders. Attorney Christian promised: "We will work tirelessly to redress the wrongs that our clients have suffered."
SOURCE Christian Smith & Jewell; Bondurant, Mixson & Elmore, LLP
Copyright (C) 2008 PR Newswire. All rights reserved
Yahoo! Buzz Top stories
4:36 PM today U.S. stocks cap a second volatile day with gains
5:14 PM today Exxon Mobil shareholders vote against separate chairman/CEO roles
4:41 PM today Oil reclaims $131 as traders weigh supply, demand indications
Latest interview with Patrick Byrne on NAKED Short Selling/FTD:
http://www.kfyi.com/cc-common/mediaplayer/player.html?redir=yes&mps=UBS2007.php&mid=http://a1135.g.akamai.net/f/1135/23392/1h/cchannel.download.akamai.com/23392/622/richmedia/5.24.08_Terry_Gilberg_with_Patrick_Byrne_FULL.mp3?CCOMRRMID=15189594&CPROG=RICHMEDIA&MARKET=PHOENIX-AZ&NG_FORMAT=newstalk&NG_ID=kfyi550am&OR_NEWSFORMAT=&OWNER=622&SERVER_NAME=www.kfyi.com&SITE_ID=622&STATION_ID=KFYI-AM&TRACK=terry_gilberg_patrick_byrne
tlo.
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Moderator GOLDENBOLLOX | |||
Assistants NYBob Hilander tecch10000 |
This board has been created for people with concerns about naked short selling. Ideas about how to combat NSS are welcome. Articles, questions and general information about specific stocks are also welcome.
Shorters are not welcome here any vulgarity will not be tolerated.
Board Rule OFF TOPIC HE SAID/SHE SAID will be deleted
Yes there is a strategy which we have put together -
which we believe would resolve the NSS situation.
The information is free and available to any company CEO -
that requests it.
Further details are available from -
cob@3marketears.com
must enclose a company letterhead -
for verification.
Pass this on to any company if you feel
they have been victimized by nss -
Do you have any suggestions? -
please, let's hear them -
Getting to the heart of the matter.
Try Explaining Naked Short Selling (NSS) to any regular joe and they are likely to shake their heads and think you are bonkers. Before you run off screaming with your hands covering your ears please hear us out.
There are many many publications on this subject which cover a myriad of topics from internet bashing to an SEC cover up and we are going to throw our ideas into the ring in an attempt to simplify it for you - If you have any questions (no matter how trivial) please do not be afraid to ask - We are not experts but will attempt to answer.
Q. What is naked shortselling?
A. The selling of a share that you do not own, basically stock market counterfeiting.
Q. How is this possible?
A. The stock market in the US does not link transactions. For example, you buy a flight ticket over the internet and pay with your credit card, your ticket and payment are linked together and you receive your itineray within about 5 minutes. You buy shares over the internet your payment is not directly linked to those shares.
Q. Is this legal.
A. It is legal for a Market Maker to Naked Shortsell.
Q. Can I find out how many shares have been naked shorted in a particular stock?
A. No
Very oversimplified but you get the picture. Now there are a great many fantastic sites out there which explain this in more detail. Our point is, that it is possible to counterfeit shares - WE DO NOT THINK IT SHOULD BE POSSIBLE.
There are petitions for market reform and complaints are flying in to the Securities and Exchange Commission by the bucketful. We salute the efforts and work of the pioneers of these actions.
Our stance is "Hit the NSS where it hurts", in the pockets. Reform can only happen if the truth is revealed, the correct action will reveal the TRUTH
A (Very Brief) Encyclopedia of Securities Fraud -
http://www.abanet.org/buslaw/blt/2007-03-04/donley.shtml
Naked short selling:
Where a trader sells short a security (i.e., borrows a security
and then immediately sells it, hoping to buy it back at a
lower price in the future for a profit) without owning,
or having arranged to borrow, the security.
http://www.buyins.net/press/nakedshort/html/2007/06
THIS 101 TEACHING ABOUT ETF'S AND NAKED SHORTING...
From Atag: This Link Is Good For 101 Trading.[Naked Shorting] -
http://www.businessjive.com/nss/darkside.html
To: SEC, U.S. Congress -
Market Reform Petition -
http://www.petitiononline.com/mrktrfrm/petition-sign.html
Whoa! 40 new Sinatures! C'mon everybody -
Spread this around and Lets Get it Off to Congress! -
http://www.petitiononline.com/mrktrfrm/petition.html
by: fish777 - thanks!
TIA!
Welcome to the Cobs NSS Solutions forum board -
9/11: The Conspiracy Files -
http://news.bbc.co.uk/2/hi/programmes/6160775.stm
Former MI5 kicks their butts on Sky news Brit TV
http://officialconfusion.com/David%20Shayler%20SkyNews051206.wmv
Money, Banking & The Federal Reserve -
http://video.google.ca/videoplay?docid=1349705906064948002&q=gold+money
Precious Metal Charts Page -
http://tinyurl.com/8bhho
Those who make peaceful REVOLUTION impossible will
make violent REVOLUTION inevitable.
- John F. Kennedy
Shut Down The Federal Reserve: Save America!
http://www.ipetitions.com/petition/AFTF_P_1/
†With God all things are possible†
by: todd h
The Fiat Money System -
Dr. Bill Veith in studio w/ Alex Jones -
http://tinyurl.com/y3gdzh
Hard Rock Au Real Money Safety Treasure Box -
http://tinyurl.com/gpjhq
Has the 666 destroyed the US$? -
http://globalfire.tv/nj/07en/globalism/us_insolvent.htm
HON. RON PAUL OF TEXAS -
Before the U.S. House of Representatives -
The End of Dollar Hegemony -
http://tinyurl.com/uq9kf
Join GATA -
http://www.GATA.org.
Gold Show -
2007 Vancouver Resource Investment Conference -
Vancouver Convention and Exhibition Centre -
Sunday and Monday, January 21 and 22, 2007 -
http://www.cambridgeconferences.com/ch_jan2007.html
Please pass it along >>>>>>>>>>>>>>>>>>>>>>>>>>>>>
http://www.sec.gov/comments/s7-12-06/s71206.shtml
NAKED SHORT SELLING:
(All information is true and accurate to the best of my knowledge - Hilander Posted: 2-1-07)
There has been rampant abuse in the OTCBB stocks over the past decade of naked short selling.
Naked Short Selling is stated to be illegal by the SEC, but goes on every day. For up to date issues discussing naked short selling go to:
http://www.investorshub.com/boards/read_msg.asp?message_id=15826016
Investors-Hub: Cobs NSS Solutions Message Board. Post#476 Tecch10000 posted a one hour video “Darkside of the Looking Glass” about Hedge Fund’s Naked Short Selling. http://www.businessjive.com/nss/darkside.html
NOTES & TERMINOLOGY:
• (DTCC) Depository Trust & Clearing Corporation = Back office for Wall Street to settle accounts daily between MM. The DTCC is not the government. Far from it, it’s a private company chartered under the banking laws of NY, partially owned by the Federal Reserve and by the NYSE. It’s a for profit entity.
• (NASD) National Association of Securities Dealers: To take appropriate action against the violators of naked short regulations.
• (FTD) Failure to Deliver: Big boards have 150M to 200M/day shares outstanding. Other boards have a 1/2 to 1B outstanding shares/day.
• Non Objecting Beneficial Owners (NOBO) The NOBO listing, allows the company to identity a portion of its beneficial shareholders who maintain their ownership through a brokerage and who have instructed their broker that they do not object to the disclosure of certain ownership information. The NOBO list shows a more complete corporate ownership profile than is available from the transfer agent alone.
• Ex-Clearing-Two brokerage houses clearing trades between themselves
• 97% of all trades are electronic
• Regulation SHO-Short selling fighting back against NSS
• Reg SHO Grandfathering has been illegal since 1934
• Short Squeeze-Buy In IOU Shares drives the price up
• Iomega went up 5X, due to short squeeze. This would cause Wall Street and Hedge Funds to lose money and would go bankrupt.
• SEC created July1, 1934 as a self-regulatory organization (SRO)
• What can we do? Settle the trades & disclose the fails
• Go To: www.the sanitycheck.com
News by QuoteMedia
www.quotemedia.com
Sent By: GOLDENBOLLOX
Date: 11/20/2006 11:39:26 AM
From Private Message Post
DETERRENCE:
The single greatest DETERRENT measure to naked short selling abuses on Wall
Street is by far and away the FEAR of an untimely buy-in leading to a “Short squeeze”. What the SEC has to realize is that DTCC policies have surgically removed any fear of a buy-in from the risk-reward analyses done by even securities fraudsters before engaging in naked short selling campaigns. Of all of the studies done in this realm the one by Evans says it the best.
Geczy, Musto and Reed (2003)
Clearest research revealed the stunning statistic that 99.875 % of even “Mandated” buy-ins were successfully circumvented by DTCC participants. This battle is not going to be easy.
At the 11/30/05 NASAA Forum on Naked Short Selling: (Paraphrased Notes)
The moderator asked why the SEC and NASD were so intently interested in preventing an artificially manipulated lower share price from ever rising. Your terminology “Manipulative short squeezes” is missing some context. The manipulation has already occurred and the share price was irrefutably “Manipulated” to the downside. You at the SEC must have trouble with this concept?
Silence filled the room.
Can you not understand that a cash-strapped and manpower-lacking SEC should welcome naturally occurring DETERRENT phenomena like short squeezes or more accurately the fear thereof to act as an invisible regulator to DETER this type of activity? Astronomically high naked short positions and their delivery failures and resultant issuer-damaging “Share entitlements” being MISSREPRESENTED as legitimate shares on monthly brokerage statements do not just happen. Ethical MMs move up their “Offer” levels after naked short selling a moderate amount of shares into buy orders in dominated markets. Predatory MMs apply a “Blanket” of naked short sale orders because they can’t allow the share price to advance due to the cost of collateralizing their previous astronomically high naked short position. This is not the “Accidental” behavior of naïve market participants unaware of how the system works as there is clear intent to defraud.
Overvoting is a considerable problem in our markets. An April 2006 news story reported that the Securities Transfer Association reviewed 341 shareholder votes in 2005 and found overvoting in every instance. Drummond, Corporate Voting Charade, Bloomberg Markets, Apr. 2006, p. 98. According to information found on the Corporate Counsel web site, overvoting may be occurring at 95% of shareholder meetings.
The following article summarizes the naked short selling situation that has developed over the last decade.
Financial Terrorism in America
By: Mark Faulk
Editor's note: "The Faulking Truth" was showcased on IBC radio on Monday, March 29, 2004, concerning our articles on naked short selling. Also, this article was quoted and linked by financialwire.net and reprinted by investrend.com and wallstreetcity.com and we have been given our own section in the investigatethesec medialinks: http://www.investigatethesec.com/MediaLinks.php
Part One: The Sucker
Picture this: You are a small-time investor who stumbles onto a start-up company that has just developed an innovative new product, a cutting edge technology, or maybe a medical breakthrough that could very well be "the next big thing". In the back of your mind, you can't help but think, "This could be the next Microsoft", and you have a chance to get in on the ground floor of a hidden gem that the big investors and analysts haven't even heard of yet. You do your homework, research the outstanding shares, study the recent press releases and filings, and read about the company on the stock message boards. Finally, you take the plunge, and decide to buy 500,000 shares at a nickel a share. That's right, you now own 1% of (there's that thought again) the next Microsoft, for a paltry $25,000. Sure it's a bit of a risk, but you know the saying, "no risk, no reward". You hit the buy button, turn off your computer, and wait for the money to roll in. A couple of weeks later, the company announces that they have secured a major financing deal, and now have the money to take their product to market, and you know you made the right decision. The volume picks up, the message boards are buzzing, and all is right with the world. But then, something goes terribly wrong. For no apparent reason at all, the stock price begins to tank, and before you even have time to react, your 500,000 shares are down 80%, and you've just lost $20,000 of your hard-earned money. What the hell happened?
The Set-up:
This same scenario is being played out time and again in every corner of America, and although there are many reasons for the failure of small, struggling, publicly-traded businesses, including mismanagement and outright corporate fraud, another, more sinister, plot is carried out every day, robbing investors of their money, businesses of their chance to achieve the American Dream of success, and hard working, dedicated employees of their dreams and even their livelihood. Worst of all up to now, this fraud has been ignored, and in many cases even condoned, by the SEC and our very own government.
This is how it works. Remember that great news that the company just released about securing financing to allow them to take their product to market? It's nothing more than an elaborate scheme perpetuated against the company, its employees, and the shareholders by a network of skilled con artists. It begins with the financial institution (usually an offshore "lending institution" based somewhere like Bermuda or the Cayman Islands), who approaches the company with promises of funding to "help" the company get their product off the drawing board and into the market. The company, who is usually strapped for cash and desperate for some financial support, considers the terms of the offer. The lender promises them say, five million dollars in exchange for company stock at a 20% discount to the market price at the time they are converted into shares (although some deals are much worse, and the lender gets their shares at as much as a half price discount from the current market price). The company does the math: five million dollars converted to shares at 80% of the current price of around a nickle a share, not too bad a deal. Plus, once the news of the financing is released, investors will swoop down in a stock-buying frenzy, the trading volume will go through the roof, and the share price will soar, meaning the company will give up even fewer shares for the money they receive. The lender makes a nice profit, the company gets their product to market, their employees are finally rewarded for their years of dedication, and the loyal shareholders hit the jackpot. Everyone is happy.
Except that none of that actually happens. Before the ink on the contracts has even had time to dry, the lender is on the phone, calling his co-conspirators.
The Con:
What happens next is complex, and involves the offshore lender, US Brokerage firms, and Canadian Brokers. The lender calls his broker, who is instructed to short sell the company's stock into the ground. Short selling involves the selling of imaginary shares into the market in the hope that the price will drop, and the short seller can then "buy back" the shares (that they never actually owned in the first place) at a cheaper price, and pocket the difference. Once a stock is sold short, a seller (or their broker) must cover their position by "borrowing" shares from other stockholders (usually those shares that are held in a brokerage house, such as ETrade, Ameritrade, etc.), and sell them into the market. It sounds unethical, and bit confusing as well? Maybe, but it is a legal practice that has flourished unchecked for years. The real problem arises when the short sellers dump so many "imaginary" shares into the market that the selling overwhelms any buying pressure, and artificially causes the stock price to crash. And this is exactly what the lender and their cohorts do.
Canada: Co-Conspirators From The North
In order to sell short enough shares to truly cause the stock to tank in price, the broker often has to sell more shares than they can "borrow" from legitimate stockholders. This practice is known as naked short-selling (meaning the short sellers never intended to cover their position by borrowing real shares from legitimate stockholders). There is only one problem. Short selling is illegal in over-the-counter stocks (known as OTC, or penny stocks), and naked short selling any stock is illegal. That's where the Canadian connection comes in. While American brokers have to follow the National Association of Securities Dealers (NASD) rules, Canadian brokers don't. Canadian investors and brokers are allowed to sell short as many shares as they want, and never have to borrow the shares from legitimate stockholders, effectively flooding the market with counterfeit shares. In fact, they can legally sell more shares into the market than even exist in the entire float. So, to circumvent the rules, the American brokers funnel their short selling activities through their Canadian connections. If there are buyers for a million shares, they short sell three million into the market, and on and on, until the stock price eventually collapses under the weight of millions and millions (or billions and billions, if necessary) of fake shares flooding the market.
The Payoff:
So, in simple terms, our lender loans the company a small part of the money they promised them and then immediately calls their co-conspirators in America and Canada, who then flood the market with hundreds of millions of counterfeit shares, causing the share price to collapse. Often, as an insurance policy, bashers are hired to discredit the company on stock message boards such as RagingBull, in effect creating an even darker picture of the company. Then, the lender converts the loaned money into shares of company stock, not at 80% of the nickel stock price that the company envisioned, but at 80% of the market price after they've effectively manipulated the stock price down to almost zero. Instead of the few million shares that the company expected to give the lender, they are forced to give them hundreds of millions (and sometimes even billions) of shares. The lender turns around and dumps those shares into the market, and the price is driven even lower, and they collect their next payment in shares at an even cheaper price. This type of arrangement has become known as "death-spiral financing", because the company is often driven into bankruptcy by the lenders, their American brokers, and their Canadian cohorts.
The Damage:
In the end, this practice amounts to financial terrorism against the United States. Legitimate companies are forced out of business, dedicated employees (who often received stock as part of their compensation) lose their jobs and their stock investments, communities lose out on the opportunity to earn substantial revenues and the employee base that a successful growing business can provide, and the stockholders lose their hard-earned money. Even more, they lose their faith in the stock market as a whole, and vow to never take a risk on a small, unproven, start-up company again. Legitimate lenders stop loaning money to small businesses (which appear to be a much higher risk), and eventually, the entire entrepreneurial spirit of America is put at risk. Make no mistake, lives are literally destroyed by this insidious practice.
What Can Be Done About It? Settle the trades & disclose the fails.
Both the SEC and the NASD have known about this practice for years, yet have stood idly by while Canadian brokers, offshore financial institutions, and their American co-conspirators have systematically financially raped and pillaged our small businesses, their employees, and small investors. Recently, numerous lawsuits have been filed by victim companies naming dozens of brokerage firms as defendants. Individuals and small independent organizations such as www.investigatethesec.com have attempted to draw attention to the problems, and finally, a few small publications such as www.faulkingtruth.com have begun to provide some coverage of the situation.
Proposed NASD and SEC rules don't go far enough to prevent this practice. Until Congress steps in and forces everyone to play by the same rules, and makes those rules tougher in regards to short selling in general (and naked short selling in particular), the OTC market will continue to be a rigged game, and the well being of America will continue to be threatened by unscrupulous foreign (and yes, domestic) interests.
Stockbroker Information -
http://www.broker-check.com/
COMPANY NEWS; KNIGHT EQUITY TO PAY $79 MILLION IN FRAUD SETTLEMENT
Archives-Published: December 17, 2004
http://query.nytimes.com/search/query?query=KNIGHT+EQUITY+TO+PAY+%2479+MILLION+IN+FRAUD+SETTLEMENT&a....
Knight Equity Markets will pay $79 million to settle charges that it defrauded its institutional investors by delaying trades and intervening in transactions to raise the price, regulators said yesterday. According to the Securities and Exchange Commission and the National Association of Securities Dealers Inc., a former institutional sales trader at Knight used deceptive sales practices to give Knight $41 million in illegal profits. Knight Equity is a subsidiary of the publicly traded Knight Trading Group Inc.
NSS Time Clock Ticking
http://tinyurl.com/5blu
http://globalfire.tv/nj/07en/globalism/us_insolvent.htm
http://globalfire.tv/nj/06en/globalism/gold_conspiracy.htm
http://www.the-privateer.com/
INFO VIDEO: Naked Short Selling Part 1
http://www.youtube.com/watch?v=Bfi3Hxasm2s
INFO VIDEO: Naked Short Selling Part 2
http://www.youtube.com/watch?v=RYUU2qZOcM0
INFO VIDEO: Naked Short Selling Part 3
http://www.youtube.com/watch?v=taLhQoTvTLw
http://www.declarationproject.us/
Shapiro Response
http://www.ncans.net/files/Response%20to%20DTCC%20Deputy%20Counsel%20Thompson%20-%20Robert%20Shapiro....
How The Khazar Rothschilds Devoured Europe
The Criminal Rothschilds - Vid
US Presidents Murdered By Rothschild Banksters
http://www.rense.com/Datapages/zionismdata.htm
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