Ameritrade and naked shorting... well they are at it again, I got a p.m. from a trader who is buying UBDVF the U.S. side of UNB.V (United Bolero),
Now according to US SEC laws a stock cannot trade until it files it's 15c-2-11 so Ameritrade is trading that stock by short selling it and hoping that the customer sells come through before the 15c2-11 is filed... which by the way will happen in about two months.
My problem is with the SEC and it's total lack of enforcement AND the current government that will not allow the naked shorting issue to air on 60 minutes or any other network. The segment has been produced for over 6 months now and sits on the shelf becuase lobbiests do not want it aired,,, it will expose the entire issue and too many gov't elected officials will be caught up in it. This issue is like the tobacoo issue that 60 minutes wanted to air.. and were sued for trying...
If we are going to be the land of the free let us be truely free..to think and expose the good and the bad.
A clasic example is BCIT 50 million fraudulant shares and the SEC does not know what to do, it took about 2 months to hault trading and there are bag holders all over the country that lost thier shirts
There is no substitute for conducting your own research
