Replies to post #161502 on Plastic2Oil Inc (PTOI)

[arvitar]

Why would anyone invest in a stock in which the CEO is being prosecuted on multiple counts of fraud, AND

invisible, and all-powerful naked-shorters, who have never failed in the past, are bent on destroying the company?

[Johnik]

Good points, Steady.

Hopefully this practice will be reigned in.

At least it is a talking point among those in charge.

http://sec.gov/news/press/2009/2009-172.htm

[Rawnoc]

Steady T is correct as usual, however, naked shorting is legal if the MM covers within a certain timeframe.

With the proper network, I'll bet one could "cover" and reshort naked in private transactions between firms.

As an ex naked shorter myself, believe me, these guys are very creative in finding legal loopholes. At one point it was illegal in America and illegal for US citizens to do it with Canadian brokers but was legal for Us-owned Candian companies to do it.....so all us naked shorters hired Canadian lawyers, started our own Canadian companies, and BOOYAH....naked shorting all day long any stock bid whack bam bam bam.

They closed that loophole and I've been out of the loop.....wouldn't surprise me if they figured something else out. If they did, it would be a closely guarded secret like the above example -- I'll bet nobody knew about that one for example yet hoards of us were doing it (perfectly legally).

[Toxic Avenger]

Since the "straw man" was that NSS exists, I'll take your comment that I "demolished it" as pretty conclusive.

I'm afraid the fact that it is illegal and well hidden actually supports my argument and in fact (were it happening on JBI) would render JBI's stock value "null and void".

Q.E.D.