Replies to post #196632 on Fortress Financial Group fka FFGO

[medchal]

"Just as amazing is the fact that FINRA refuses to answer questions in that regard."  It's not amazing.  What FINRA does is refuse to answer the same misguided questions dozens of times after that organization has already provided clear answers which simply aren't accepted by their interrogators.

Moreover, nothing makes it possible, let alone likely, that "every single FFGO share sold over the past two years (over 2 billion) did not exist."  That is simply a fantasy.

[RoadLessTraveled]

Alan, I have never been able to get any stock specific question answered by either the SEC or FINRA. Why? Because they have a stated policy against it. It is tough enough getting general questions answered.

Regarding the Daily List, you do know that it only shows short sales that occurred during that day's trading session, right? And you do know that market makers have a legal time limit in which to settle those shorts once that daily session ends? Now, where do you find the reports that take all those settlements into consideration?

If you said the semi monthly Short Sales List, you would be absolutely correct. Market makers are well aware of the exact dates those lists will be published each month and act accordingly.

As to why those Short Sales Lists "suddenly vanish", well, the general answer to that is that there are simply no more unsettled short trades to report. No conspiracy...no embarrassment...just everything wrapped up neat & tidy. I know...I know...a rather simplistic answer and not one you would probably ever accept. But could that possibly be the reason why no one has used those figures to argue a naked short case for FFGO? In a court of law, of course...not here on a message board.

Now, if you are lucky enough to reach a chatty FINRA rep, they are allowed to explain that to you. Just expect silence the moment you mention a specific company...that's their policy.

And exactly how do you go from FINRA's admission to short sales being understated, that is, conservative in nature by definition, to your extreme example of 100% of FFGO shares being shorted over the last 2 years. Would that percentage fit FINRA's "understated" description? Or just your wild claim? It is a bit of a stretch, don't you think?

Finally, the fines against UBSS and Credit Suisse, while seemingly massive by the common man's standards, in reality, were less than a breakfast tip to you and I, relatively speaking. Whether you believe their explanation of sloppy book-keeping or prefer your own theory of massive criminal conspiracy, just remember...there were no criminal charges filed against either company. Just that little slap on the wrist.

I cringe when I read my own defense here of those organizations because I personally believe that they they are both far from angels. But, in playing the Devil's Advocate, I have yet to see the extent of impropriety as you are claiming.