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Re: A deleted message

Monday, 06/04/2012 1:34:47 PM

Monday, June 04, 2012 1:34:47 PM

Post# of 232508
How do you know there are no KMAG shorts? Who is providing you the data from which you derive the answer that, "Bloomberg", provides? Obviously Bloomberg gets there information from the DTCC.

What or who is the DTCC? It is the Depository Trust and Clearing Corporation. Who owns it and what does it do? It is the company that accounts for virtually every trade that takes place in the U.S. markets. It is conveniently owned by the banks, brokers, Market Makers, the same people that control our stocks. Who knows what goes on inside the DTCC and who can verify the accuracy of all the trades that take place therein? Who makes sure that illegal activities like naked shorting don't take place in our markets? Is it the SEC? Is there an agency or group that oversee's the DTCC. Answer: NO! There is no regulation, there is no oversight, there is no one protecting stockholders.

Who regulates the Market Makers? FINRA does. Who is FINRA? FINRA is an SRO, a Self Regulatory Organization that is owned and operated by? The banks, brokers and Market Makers.

So, the MM's police themselves with a small bit of intervention from the SEC. There is no outside group or agency policing our stock market. They own the company that does the trades. They own a regulatory agency that keeps them honest. With no one having access to their data, how do you know it is accurate? How do you know there isn't any shorting taking place in KMAG?