NSS ~ Counterfeiting Stock ~ MM Games Played

[AlanC]

janice: Abusive naked shorting is not limited solely to penny stocks. Perhaps you missed this:
Naked shorting is a phenomenon unknown two
years ago, but it now offers the prospect of being the
most volatile and significant market activity of the past
several decades. It appears, from the evidence gathered,
that it is pervasive throughout all markets and all industries.
Evidence from the sec shows the outstanding
delivery failures can surpass 100 percent of the average
daily trading volume. The average for the OTC is
approximately 28 percent of the average daily volume.
This does not include the ex-clearing fails, which are
not reported. Even some NYSE firms experience an
abnormal number of fails. NovaStar claims to have
FOIA documents showing on some days 40 percent of
its daily trading volume fails to deliver. Again, this does
not include ex-clearing trades.
It is interesting to note that no brokerage firm
has admitted the existence of or participation in naked
shorting. However, since SHO’s implementation in
January of 2005, firms such as Goldman Sachs, Citigroup,
JP Morgan, Wachovia, First Clearing, Daiwa,
and Credit Suisse have been censured and/or fined for
violations of Regulation SHO.17"
page 57 The Journal of Trading
http://www.csb.uncw.edu/people/moffettc/Research%20Papers/IIJ-JOT-BROOKS.pdf