Bank of America Corp (BAC)

[enlightened1]

Naked shorting is usually done on the pink sheets and OTC. But
there is so much crookedness going on today where big money is concerned, that it has spread to the 'big board'.

It has been caught out (though nothing ever seems to get done about when a company has found there are more shares outstanding than are on the books.)

It would be hard to get away with on companies that pay a dividend. All those owniing shares at the qualifying period would expect their dividend, no matter how small. But the company would only pay out what are on their books.

Of course, few companies now are paying dividends, especially on NASDAQ.

Any broker on the big boards would know if any of their clients were naked shorting, so it would be easy to check and
punish those brokers for permitting such trades. However, there are ways it can be done if you are big enough. The SEC is a most ineffective controlling body which has been illustrated many times.

I mean, it insults my intelligence to try and have me believe that Madoff could, or would attempt to, do if there was an effective SEC. Even without an SEC it defies belief.

It has been made possible today where stock certificates are not held by the investor. We buy and sell without seeing the certs.


It just lets us know what we are up against, and there is nothing we can do about. If we don't like the Casino, we can stay away. EOS

Cheers