Bloomberg special on Naked Short Selling

Discussion in 'Wall St. News' started by flytiger, Mar 13, 2007.

  1. We just got word that Dr. Trimbath appears in Bloomberg TV's half hour
    < program, Special Report: Phantom Shares. The program premieres Tuesday,
    < March 13, 2007 at 7:00pm, 9:00pm, and 10:00pm ET. If you don't get
    < Bloomberg Television, you can watch it online at
    < Producer Gary Matsumoto spent nearly a year researching this subject and
    < recording interviews. This is an important piece of journalism that calls
    < attention to a little-understood subject that directly affects nearly
    < every American. Dr. Trimbath has provided litigation support on this
    < subject since 2003 to law firms, companies and investors.
    < The program may include sound bites from Dr. Trimbath's presentation "Why
    < Investors and Issuers Hate Short Sellers and Stock Lending," which she did

    < as the keynote speech at the Securities Lending Conference in New York
    < last fall. A complete transcript of the speech is available at
  2. "This is an important piece of journalism that calls
    < attention to a little-understood subject that directly affects nearly
    < every American."

    I wait in great anticipation to hear how this directly affects nearly every American.:confused:
  3. DTCC officials declined our request to be interviewed for this program. LOL Go figure.
  4. DTCC is controlled by the same people that control the SEC. this same dynamic plays itself out in many different arenas. if you think this is just a few bad apples then you are naive. this can not exist with out a complicit media. its a fixed game people wake up.

    the BBC is still squirming in their seats over the huge goof they made by their pre collapse announcement of WTC7. they are part of the oligarch.

    no wmd's, 9/11, corrupt SEC and DTCC... and just wait.. they are going to crash the economy.
  5. You must have real time quotes.:D
  6. it affects them when they purchase the stock that is being pounded by naked shorts with unlimited supply of shares that may never be bought back and it also affects us in that the gain ends up outside the US and it affects legite companies with a fighting chance had they not just been short F**ked to death...
  7. great post ElCubano !!!!!!!!!!!
  8. for many years, I"ve argued we're killing our own Marines. Elgindy was looking at 25 to life, and got 11 plus. Those of you that lost people in 9/11 Towers, look here. We all know Ratboy one crazy sum bitch, but I'm afraid he is correct. Now let's put some pressure on these bastards, who just took a perfect world and inverted it with this subprime crap, and force them to clean up with some of them billions they paid out at Christmas........

    You'll see Elgindy and Breen in this piece. This is so disgusting, it is beyond words.


    By DAVID K. LI in Los Angeles and KATI CORNELL SMITH in New York

    'TONY' ELGINDY: Saw Dow falling Sept. 10

    May 25, 2002 -- An accused inside-trader made suspicious stock trades on Sept. 10, leading investigators to believe he might have known about the terror attacks a day later, a federal prosecutor said yesterday.
    Notorious short trader Amr Ibrahim Elgindy - also known as "Tony" and "Anthony Pacific" - allegedly ordered his kids' $300,000 trust fund liquidated the day before terrorists slammed planes into the World Trade Center and Pentagon.

    "He made a comment predicting the market would drop to 3,000," Assistant U.S. Attorney Ken Breen told a judge in San Diego. "Perhaps Mr. Elgindy had pre-knowledge of the Sept. 11 attacks. Instead of trying to report it, he tried to profit from it."

    Federal authorities busted Elgindy for allegedly leading a ring of inside-traders - including two FBI agents - who used confidential information to short-trade stocks.

    Short sellers borrow what they believed to be overvalued stocks, sell them and then buy them back at lower prices, thus pocketing the difference.

    A lawyer for the Egyptian-born financial analyst, a well-known Internet stock commentator, ripped prosecutors for "racially profiling" her client.

    She said Elgindy had legitimate reason to believe the stock market would fall, and that the Sept. 10 timing was coincidental.

    The Dow Jones was above 10,000 but falling fast a week before terrorists flew hijacked airliners into the World Trade Center and the Pentagon.

    "It seems like the government, for lack of factual evidence, has decided to smear my client with terrorist innuendoes," defense lawyer Jeanne Knight said.

    U.S. Magistrate John Houston said he didn't consider the prosecution's Sept. 11 allegations when he ordered Elgindy held without bail.

    Federal prosecutors in Brooklyn want Elgindy and four other suspected co-conspirators, who were busted on Wednesday, brought back to New York to stand trial. Two FBI agents used confidential databases to give Elgindy inside information about publicly traded companies, an indictment says.

    Elgindy would borrow those stocks and trash those companies on his Web site, driving prices down, prosecutors said.

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  9. Svenwulf


    thank you flytiger for posting. have copied the link in other forums. keep spreading the word.
    #10     Mar 13, 2007