Replies to post #3051 on Beyond Inc (BYON)

[fourkids_9pets]

oh my the SEC .. enough said on that POS entity that needs to be disbanded in total

SEC *PROtects* NR (non retail) at the expense of *retail* .. regulatory *interest* is part and parcel
when NR is UPSIDE DOWN on a target (regardless of where traded)

An interesting point about this is that before Reg SHO, the SEC was adamant that there was no problem of “strategic settlement failures”. The SEC hired an economist to study the question: Leslie Boni. Dr Boni studied it and wrote a report: “Strategic Delivery Failures in US Capital Markets”, which concluded that it was indeed a problem. Among its findings:

The putative counterbalance for traders practicing Strategic Settlement Failures is a brokerage process called a “buy-in”. She reviewed 65,000 cases and found that this corrective action of a “buy-in” had been initiated in 2 of them. In other words, brokers let each other get away with it 99.997% of the time.

On Christmas Eve, 2006 I telephoned Dr. Boni at the university to which she had moved. She told me that I had read only the unclassified version of her report, and that a classified version of it was in the hands of the SEC and was even more frightening. While she refused to go into detail, she said, “Let me put it this way, Patrick: after finishing writing that report, I called everyone in my family and told them to get every last dollar out of the stock market.”

now one knows why NR embeds quoted that 99% stat by rote

4kids