OldBen, I was trying to avoid getting into the specifics of those various instruments because they are irrelevant to FFGO.
And yes, I agree with you regarding the questionable nature of CDO's & CDS's but my point was that they are still legal (although I haven't checked recently) whereas NSS is 100% illegal in all forms.
$4 a share in FFGO's NSS while huge is no less huge than derivatives that any number of banks and institutions hold. $4 a share is really not far fetched at all.
I realize that you didn't use the word "penalty" but what else would you call $4 NSS "payment" for a .0001 FFGO share?
What have FFGOers done so differently from any other investor whose shares might also one day be proven to be naked shorted (or is it, shorted nakedly?) to warrant such a return? If the NSS settlement with FFGO bankrupts "shorty", a scenario which is always applauded here, then what is left for those deserving victims?
I've already seen one comment made about not caring what happens to other investors as long as FFGO shareholders get theirs (first). An "A" for honesty but an "F" for justice & compassion.
Sorry but these astronomical settlement figures to "teach shorty a lesson" are nothing more than unadulterated greed being disguised as justice.
And if you think "greed" is a bad thing...
What do you think is behind the use of those CDO's & CDS's you previously had mentioned. Or perhaps you are referring to the abuse of greed?
Simply to return the NSS gains the NSSers stolen is fair??
So, NSSers are not "real" criminals to you?
Well, I said nothing of the kind nor did I even imply it...please re-read my post.
There is a middle ground for justice between outrageous financial "penalties" and nothing at all. But since there has yet to be a precedent established for NSS per share penalties, why not continue fantasizing about astronomical numbers? Maybe it helps people to forget about all those revoked shares still sitting in brokerage accounts...which should remain there forever and never ever be written down!. Sorry but I have Seven reasons why I wouldn't want my brokerage account comment to be misinterpreted...lol
There should some punishment beyond opportunity cost, in my opinion. It has nothing to do with "greed" on my part.
There is a very good reason why victims of crimes don't determine punishments. I will stick with settlements determined by impartial, objective parties, thank you.
In the case of FFGO there are years of opportunity cost. I have a pretty fair annual return on investment myself.
I would love to take a peek at your portfolio. Do you get many multi-thousand percent returns like you are looking for from an FFGO NSS settlement?
I know that many people here at FFGO have called and emailed government agencies at no avail. No confirmation or denial.
And as long as FINRA's Daily List short data is used as "proof" of naked shorting, people may continue to expect no replies from regulatory agencies since that data is endlessly misinterpreted. It's obviously a waste of their time although no doubt their silence is being used by some to show even more evidence of a conspiracy. No surprise there...
Show me those cases where penny stock companies have successfully proven NSS using that data...and please don't even think about mentioning Crazy Al & the Xers case! Yet, every day I see it being posted as irrefutable proof of naked shorting. Problem there is, no one else agrees...at least, not where it counts.
Without all of a stock's actual trading records (which obviously aren't available to shareholders), there really can't be a serious case made for NSS, especially without management's help. And we all know what FFGO's last position was on the subject, right? I would try contacting them to see if they had changed that position but...well, you know.
Sorry but there is no one fighting to prove naked shorting of FFGO in spite of the overwhelming NSS "evidence" posted here. I do read a lot of wishful thinking about secret plans and behind-the-scenes negotiations to get a settlement for FFGOers...but, of course, none of it can be proven. And for very good reason.
Transparency is the problem here. We cannot see what goes on very easily at all.
Transparency has been a problem with FFGO for years and for NMGL recently. Any company that refuses to file financials should never be given the benefit of a doubt...and yet FFGO-ers are surprisingly forgiving.
Example: If NMGL had acted responsibly and had filed their financials over the last year (an action which, by itself, would eliminate any revocation threat), shareholders would know exactly what the status is with the proposed purchase of Bouse & South Copperstone assets. But all I read is cheering for the company's attempt to continue hiding those delinquent financials in addition to no longer being required to file in the future.
Are some FFGOers so obsessed with keeping company business operations hidden from "shorty" that they are willing to forgo those all important financials? Is this a sound investment strategy?
That last question should be rhetorical (actually, both should be) but the sad truth is, for some investors, it could very well be a core belief.
When we do DD and confirm it, there is no one to listen and act.
Could the explanation here be that no one listens & acts because they don't find the DD to be credible? I mean, when everyone ignores you, maybe, just maybe, the DD is flawed?
Naaahhhh...the only real explanation has to be that it's all part of some kind of conspiracy!
Sorry for this delayed response, OldBen, but I find myself spending more time than average on yours. Lucky you...lol
Hopefully though, this is yet another "special" day for you! LOL
