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Replies to post #501 on NO QUARTER FOR CORRUPTION (Focussing on The Fed./F

Replies to #501 on NO QUARTER FOR CORRUPTION (Focussing on The Fed./F

Telephonics

12/09/05 11:24 AM

#502 RE: rrufff #501

A short becomes naked after failing to deliver the shares within three days of closing. That did not happen in this case.

Telephonics

12/09/05 3:07 PM

#503 RE: rrufff #501

It did not result in a naked short. The broker bought in shares on the open market and swallowed the loss his error caused. Delivery was made well withing the Japanese 4 day limit. The was no naked short involved.