RCC Holdings Corp fka RCCH

[mcokpba]

Edit (sorry all in bold could not correct/edit font)

ThSeeker - Question to all: What will the DTC Lift accomplish and what will it not allow?

I have a feeling most of us do not understand what the temporary DTC chill lift really means.

My comment – I think you are right and I at least may have gotten a little ahead of myself.

ThSeeker - Can someone clearly define what "Aged Fails" really means?
I think is applies to transactions that the participants executed on these shares AFTER the DTC Chill went into effect. So DTC is giving them a chance to clear those up.

My comment – I think you are correct and my initial reading of “Aged Fails” was far too optimistic and assumed too much.

ThSeeker - Will transaction such as NSS or whatever that took place before the Chill even be eligible? I doubt it.

My comment – I doubt it also. It appears that frogdreaming may be correct and this is just a DTCC housecleaning effort. The NSS or whatever that took place BEFORE the Chill does not appear to be eligible.

ThSeeker - So short covering may not be possible in the time slot. At least those that were shorted through the participants (brokers) effected by the DTC chill. This action has nothing to do with those brokers who do/did not use DTC.

Also I do not think this DTC lift means the DTC will allow new transactions to take place. As this action is meant to clean up aged fails not to lift the Chill for business as usual. Since the chill goes back into effect as soon as this cleanup period is over. That is main reason I do not think DTC will be clearing new buy sell activity during the lift.

My comment – I think you are correct again. That is their intent. How they are going to clear the fails to deliver without new buy sell activity is the question.

ThSeeker - So all this short covering expectations may be bogus and not even possible through DTC.

My comment – There will be short covering for fails to deliver. I believe only the participants (market markers) will be able to take advantage of this limited thaw. The volume will be interesting to watch but I now agree with Minnesinger that we should not expect/anticipate billions in volume for the week. The direct phone calls from broker/dealers seeking my shares will have to come later. Minnesinger, I hope you have a comfortable chair also. We still have a wait in front of us.

Fixedops - I see your point and somewhat agree but, how will they stop it. Seems it would have been easier for the DTC clear those while still under chill. Will the brokers brokers have to administer this so buying and selling does not happen? If this is the case then the brokers (using DTC) Would not allow trades but, only clear their own aged through DTC?

My comment – I believe will be pressure on the pps because the MMs who have fails to deliver on the books will have to clear them. How the clearing process will evolve without new trades has not been made clear. Guess we will find out over the next two weeks.

GoGold - I think you are right about this."I think is applies to transactions that the participants executed on these shares AFTER the DTC Chill went into effect. So DTC is giving them a chance to clear those up.".......So the question becomes; if the dtcc is going the clear up the ftd after the chill,why would they do that? Unless they have a plan to go after the FTD before the chill(the main reason for the chill to start with)?

My comment – Something is motivating the DTCC to act and clean up the books. This first step is encouraging but only a first step. I believe the primary reason for the DTCC chill on RCCH was the SEC Gendarme filing. When the Gendarme case is resolved it will be interesting to see the fallout. Will the DTCC continue to clean up? Will the DTCC/SEC bring transparency to the RCCH situation?

GoGold - .....I`m not sure either way,I may call on Monday and ask.

My comment – Please keep us informed of your progress/findings.

http://www.dtcc.com/downloads/legal/imp_notices/2011/dtc/set/0846-11.pdf

ThSeeker - I don't think the DTC goes after anyone. They just don't want to participate in allowing potentially bogus shares to keep trading. Or something along those lines.

My comment – The DTCC has allowed bogus shares to keep trading for a long time. Legacy of RCCH Aged fails stretches further back than 11January 2011 IMO. Waiting for the next shoe (Anvil’s something happens) to drop.

There is an interesting post on the DD Support Board and Fraud Research Team Board by nodummy.

Nodummy - During that same period a chill will remain in place to prevent any other services from taking place including deposits and withdrawals. So in other words - no new trades.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65933035