World Surveillance Group Inc (fka WSGI)

[Russ]

I called E-Trade and here's what they

said about borrowing investors shares that are NOT marginable: (GTEL is NOT marginable)

"We do not participate in that practice." In fact they said the same line repeatedly when I asked them if they do it with marginable stocks.....which tells me they are told to say just that when anyone inquires about this.

I assume that Schwab's program...Securities Lending Fully Paid (SLFP) is theirs alone.

I guess my question is, "What does Schwab want to do with "borrowed fully paid-for shares." I can only think of one thing...naked shorting kinda stuff.

I understand Dateline is proceeding with their piece on naked shorting (supposedly entitled The Great American Stock Scandal) and maybe we'll see Schwab in the story!