The DTCC notice is why Scottrade feels it could be a problem (what they say, not me). Maybe Scottrade is too conservative, I do not know. Everyone I have talked to from Scottrade has seemed uneasy talking to me. No real answers. The woman from the national service center seemed to say that the SEC has said there maybe millions of unregistered shares out there and Scottrade will not take the chance trading fraudulent shares that they then would be responsible for. She stated that you could lose the shares in your account if they were fraudulent when you bought them.
This is all way above my past trading experience to understand at this point. I am not a newbie at trading, but this goes well beyond my understanding of this stuff. I asked her how fraudulent shares could be accepted into my account in the first place and wouldn't Scottrade be liable for such? I got no satisfactory answer...just that shares that were found to be fraudulent will disappear. If Scottrade traded any of those shares, they would then be responsible for those shares. I would have expected a short squeeze by now and am worried that the people that are naked have no intention, or finacial ability of covering.
Am I the only one that suspects that this is the endgame scheme to declare the vote on the 14th inert? If the claim is still holding that the voting was done with who knows how many fraudulent shares thet the outcome is invalid? This is the craziest stock I have ever owned. Seems like lots of bad guys out there on this one.
I do know one thing, I sure as heck am not selling ANY of my shares..even if I could, and will buy more when I can.
