"The DTCC knew what was going on by 8/11/2005, and put out their notice on 8/16/2005 if I recall, but the stock still traded for two more weeks after this. They only exascerbated an already growing fail problem by not shutting it down completely." -- DTCC doesn't control the ex-clearing market. The brokers could trade this tomorrow if they wanted too....between each other...we've seen that in action a few times, but in a big way between Aug 16 and the 31. In that case it was a case of 'musical chairs' between brokers. I'm sure they only realized much later that their were FAR FEWER chairs than there ought to have been! Megas replaced a few chairs...but there are still WAY to few!....DTC is controlled by their clients...clients don't want this to trade...so it doesn't. Without Megas, they wouldn't have to worry...but because TM is one in a million...they are worried...
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