Actually, if you think about it. Short selling may prevent the pps from falling even further. If it wasn't for the vig a large holder would probably sell.
What color is the sky in your world? Now finish your homework, so you can enjoy your weekend. Isn't mom calling you for dinner? Jesus. How can you be this thick? Hey, are you a reporter for the TIMES? NYT is on the SHO list, and Nocera and Norris think it's ok. And Einstein, you in the previous post. Say Ratboy and I decide you shouldn't reproduce. Could we send some thugs over to your place to make you a neuter? We don't get to call those shots, and short sellers couldn't decide who lilves or dies, or loses their jobs or works. Nutjob, I know you don't like analogies, so I'll keep it simple. It's wrong, and it's agin the law. And not upholding the law is another crime. OK?
I definitely understand the dynamic and I understand why naked shorting should be exterminated. But I also think it provides a convenient excuse for companies to point to in case their core business are going down the tubes. Failure is an important part of capitalism and companies that suck have no reason to exist. Again, just because a company gets crushed by naked shorting does not mean that the company was not going to $0 anyway. In fact, considering how nefarious and devious these naked shorters are, I suspect they are smart enough not to target healthy companies for their big kills.
Flytiger: Thanks for elaborating on the issue, you are obviously quite knowledgeable, to say the least. I would be interested in hearing your opinion on the viability of these issues actually coming to the fore and if you think that some new construct will be put in place whereby there is greater (real) scrutiny by enforcement agencies over our markets. Also, of the high profile cases that are going on as we speak, do you think any of them will meet the measure of a guilty verdict and if so, do you think any will actually go to jail? Thanks
I have been on this for at least six years. KNow I've been screwed for ten. I've been told almost daily that I will not believe how bad it is. I believe it, and yet there are times I'm frightened, I mean physically frightened. I'm not afraid of dying, or financial ruin or anything like that . I am frightened that this Government, that these schmucks in politics, these whores on Wall St., all of them are whores, are so greedy and vicious, that they are willing to destroy everyone in the hopes of preserving their ill gotten gains. What proof do I have? I am reticent to divulge what I've seen, because it is the DOJ that holds he magic hammer. That proof is in the Sedona post I made. Without being specific, let us just say in the past few years there have been a steady parade of participants in front of Justice, and the feedback has always been some analogy, sorry Nutjob, about casting a net and getting Whales and Sharks and all. It's huge. And it's not just naked shorting. It's money laundering. Extortion. Hell, you saw the bust on the insider thing. There were two guys who figured the scheme, and got 150g each to be quiet. That's extortion. Piss ant extortion, but extortion. Justice wants all of them. If you've ever met any Feds, I can guarantee you they are pissed about Royer, and they will get their men. And I can't wait. I spent hours talking with State Regulators all over the country. They are on this hard, but they are underfunded, and it is hard to make a case. Ref: "are you trying to make a Federal Case out of this?" I have no doubt they will move, that the Federal Regs will intervien, but it will be to no avail. States will rule. Then, lo and behold, Patrick Byrne shows up. Patrick Bryne is the most honorable, stand up guy I've ever run into. I've never met him, but I"ve sent a dozen guys to him who have helped him. When I heard his Aug 05 Conf call, I pounded my fist on the table. Everything he said is true. He went with theSith Lord thing, and he's learned that when you do things like that, the dark side picks up on it. But everything was true. We figured Sith Lord was Milken, and we were right. That is, in my opinion, now, who Patrick thought it was. I got a reporter to come up with some 1980's articles, and Milken ref Star Wars many times. However, and this gives yo the a clue to the sophistication, it is not Milken. I believe, however, they know who the master mind is. I do not know that for a fact. It was made to look like Milken. Slick, no? Now, I called a State Reg and said, "have you heard this guy"? He said, "we met with his people a a few days ago. " The gist was, Wall St. was going to try and clean this up then, and let all the BB's go down the tubes. Bryne would not have that, and neither would the States. Wall St. is trying to get out from covering all the BB's and nobody is giving in. As Patrick said in Aug 05, I feel I walked through an alley where I was mugged, but I made it. But I looked back and 12 of my friends were lying there. I can' t leave them. I should say, the Regs will not talk to me anymore; that is the rule during an investigation. But it got back to me they read all our emails, so if we get a lead, and we get plenty, they get them. Go to next Post.
The next hero, and I would love to talk to him, just to honor him, is Gary Aguirre. Aguirre is a 66 year old attny who Gasparino, the WSJ., no one gave any creedence. I had this conversation with a well know reporter who said he was a nut case. I asked how many 66 year olds would blow themselves up over bullshit. If you have not gone to the Judiciary Site, read Aguirres testimony, and watched at least the Dec 5 hearings, you are truly missing out on history. I've seen it five times. And every time I get something. You see the upper management with body language that is reminiscent of someone on death row. Specter accuses them of perjury. He asks why they subpoenaed the committee for documents, when they know it's under the Whistleblower act, which is sacred in the Senate, and the IG says, "he didn't give us anything". Aguirre, as cool as Paul Newman on a Salad jar says, "Senator, I gave them over 250 pages of my documents. Everything is in there. They never asked for more." On Jan 16, check the Record, it is entered. As we write this, I am looking for a interim report that chastises the SEC. I am under the assumption that high level officials have come forward and testified to GAO and Senate investigators. I heard many low level people had wanted to come forward, but didn't want to catch a bullet. Since, most have testified. The former comes from Grassley 's letter to the disgusting Wall St. Journal Ed page; the latter from contacts who have proven hauntingly accurate. I have to eek out information now. Sources that would talk will now say nothing. That is a very good sign. I know more about law, law enforcement, trading records, than I ever wanted to. I 'm tired, but hit me with direct questions, and I'll try to answer them w/o impeding any action by Justice. Two morons, go piss up a rope. This is a serious discussion for adults. As to what will happen: Lots of people think it never gets fixed. I can understand that thought. But it will get fixed, because the system is at the breaking point, we have a bunch of good people, some who have lost everything, that will take these bastards to the mat. If the brokers go down, tough. Do you know, one researcher estimated the market would be 10per cent higher without this? The whole Market!!!! Here are some ideas to Google. Do some research, and let's keep this in the spotlight. It is very important. John Duess, Howell Woltz, Sterling Bank, Bank of Curaco, Exact Pay. Anthony Elgindy, Anthony@Pacific.net, Fiero Brothers, Sedona Corporation, Badian, Refco, Gradiant Analytics, Milberg Weiss & Co., John Rocker, Rocker Partners, Inside Truth, Forbes "Naked and Confused" Feb 12, DTCC, Gary Aguirre (you must read this testimony. It is unbelievable.) That will start you off. Please read the Aguirre Testimony though. It is not about Naked Shorting, it is not even about John Mack and Art Samberg. I t is how the SEC will crush you, and let the big guys walk, and how their lawyers get the cush jobs at the Wall St. Law firms. VodiaGroup.net, go to research. Read how fake borrows cost Pension funds of America 200mm a year, not counting rebates. That's correct. 200mm w/o rebates. I'm very pleased you show some interest. We've been waiting for Bloomberg, and it is a huge hit. It is all over Europe, and I hear they are going to do their own expose. The next time some son of a politician tells you we are losing business to Europe because of regulation, you will know what I know. they don't trust us, and I don't blame them.
You can insult me all you want when I bring up valid points that bring some balance to your one-sided arguments. I can call you names too if you would prefer. Oh gee! Then it must be right!
The publics' opinion of Byrne is shaped by the Press. You will never read anything good about him. He tells me they call him the "most hated man on Wall St.". There is a reason. He's peeing in their drinking water, and so far everyone else has backed down. The Press is captured. How much have you read about Etrade trading ahead from 1999 to 2005? A person who has become a friend was destroyed by this. He is very close to destroying back. But he was down on his luck. Patrick sent him a check. Never met the man. Sent him a check. Need an interview? Small Company need a favor. He's there on a personal level. Another story of the viciousness. A company in the South had scheduled a secondary in the 25 range with a major investment bank. It was a family company. The Patriarch owned most of the shares, a son in law the controller, etc. They looked up one day before the offering, and the stock was 12. They didn't know what, but something was wrong, and they stopped the secondary. The IB said, "you cant do that!!!!!". You should have figured out by now that they shorted the stock into the deal. The fee was chicken. Anyway, they cancelled, the stock went to five. Was in the Journal Jan 05 as the most shorted stock. This was Reg SHO. Shit Company? Stupid Product? They produce eggs. Why them? Cuz they could. If you can cut a company in half, and replace the naked shorts with IPO stock, why not? And, you get the fee. Oh, and a reporter for a national Business publication said, "well, they're down because the Atkins diet is over." ???????????? What did you have for breakfast? And this happens all the time.
thats not how they choose the companies that they target. ever wonder about the competition and how they fare when their chief competitor is embroiled in this type of battle? according to your mindset, rape is a good thing... makes the woman tougher. maybe she was asking for it? shouldn't wear those tight fitting shirts huh?