Flytiger vindicated - proof of a genuine short-selling conspiracy at last

Discussion in 'Wall St. News' started by Cutten, Sep 21, 2008.

  1. Funny. I pass this stuff along to the three letter guys. They aren't laughing. But you think it's humorous.

    Maybe if you have to hose Grandma off the sidewalk, and it was your money that bought the plastique, you'd feel differently. But, then again, maybe not.

    What's scarier than that, Barney Frank and Hilliary Cllinton are making decisions on this stuff.

    Some of you guys are just stupid. Like, 9/11 never happened, no one hates us, Elgindy never existed, and Wall St. would never do anything crooked.

    And your Mom would never do anything at all like your girlfriend did for you. Dream on.
     
    #11     Sep 22, 2008
  2. sprstpd

    sprstpd

    What is it with you with moms and grandmas? I swear that is your 500th reference to them. Maybe you need some help.
     
    #12     Sep 22, 2008
  3. we all need hope. More than you see to realize.
     
    #13     Sep 22, 2008
  4. Lots of people saying that because we went down today that means there was no wisdom in the short ban.

    Uh, that kind of thinking is what got us into this mess.
     
    #14     Sep 22, 2008
  5. SKorea allows no naked short selling, but they are banning all short selling.

    They are doing this because they owe the United States for the Korean War, and they want to show solidarity.

    Either that, or it's terrorism. Can't quite get a finger on it.

    Oh, an the second point.

    "fails to deliver" fail to deliver at t plus four. Three settlement days, then, bang. Every bulletin I read, everyone I talked to , says, tomorrow buyins on fails. We'll see.

    If the SEC steps on its dick again, I think you'll see some real crap hit the fan. No one is in much of a mood to coddle the pricks that got us here.
     
    #15     Sep 22, 2008
  6. sprstpd

    sprstpd

    No worse then deliberately changing the rules overnight to purposely create a short squeeze. In fact, that's the kind of crap that is going to kill everybody's market.
     
    #16     Sep 22, 2008
  7. Stock Loan is a HUGE margin business. The feds were on this. Look at this date. It was swept under the rug for reason...........profits. This is not new.

    July 22, 1988
    Shearson Called Target Of Stock-Loan Inquiry
    By KURT EICHENWALD

    LEAD: Transactions by a division of Shearson Lehman Hutton are the subject of a criminal investigation by the United States Attorney's office in Manhattan, people familiar with the inquiry said yesterday.

    Transactions by a division of Shearson Lehman Hutton are the subject of a criminal investigation by the United States Attorney's office in Manhattan, people familiar with the inquiry said yesterday.

    Shearson executives said late yesterday that the firm had received subpoenas relating to its stock-lending business. The executives said the company was cooperating with the Government but did not know the nature of its inquiry.

    ''Nothing in our discussions with the U.S. Attorney's Office suggests that the firm, or any of its employees, are the target of an investigation,'' Shearson said in a statement yesterday. The investigation was first reported in yesterday's editions of The Washington Post. The newspaper reported that Dennis Palmeri, who supervises Shearson's stock-lending operations, was the focus of the investigation. A Lucrative Business

    The little-known stock-loan business has generated billions of dollars in the last few years for many Wall Street firms. The operations involve the borrowing and lending of large blocks of stocks by brokerages and institutional customers. The lender profits by charging premium interest rates, while the borrowers benefit by being able to quickly obtain shares that may be in short supply in the market.

    Some of the subpoenas issued in the case seek information about transactions involving Mr. Palmeri and two of his relatives, as well as several entities controlled by Mr. Palmeri, The Post reported.

    Several other investment firms that are apparently not controlled by Mr. Palmeri are also listed in the subpoenas, The Post said.

    Mr. Palmeri has retained a lawyer and is cooperating with the Government's investigation, people familiar with the inquiry said.

    The information was subpoenaed from Shearson at the end of June and involves transactions that have been conducted during the last few years, these sources said.

    Brokerages sometimes borrow stock to deliver shares that have been sold by their customers. The firms do not always have those stocks in inventory.

    Stock lending is also used in short sales, when a customer sells a borrowed stock before repurchasing and returning it. Such a seller is speculating that the value of the stock will fall.

    The practice has also gained in popularity as investors have engaged in ''dividend capture'' trading strategies, in which shares of stock are quickly purchased and sold.

    The stock-lending business has been the subject of an investigation by Federal prosecutors for at least four years, according to people familiar with the investigation.

    ''It's a totally unregulated aspect of the industry that is susceptible to corruption,'' one lawyer familiar with the business said.

    One person with knowledge of the Government's ongoing investigation said that part of the inquiry into the stock-loan business involves practices by one or more employees at the Seemala Corporation, a securities firm that was controlled by Ivan F. Boesky, the former arbitrager now serving a prison sentence on charges involving insider trading.

    Correction: July 26, 1988, Tuesday, Late City Final Edition

    * Copyright 2008 The New York Times Company
     
    #17     Oct 9, 2008
  8. Mecro

    Mecro

    Watch the video, dumbnuts, it's the Sith Lord & Darth Vader of the Short Side.

    So now that we established that, why don't you go cry to someone who give a sh*t, instead of wasting space here.
     
    #18     Oct 9, 2008
  9. SKorea allows no naked short selling, but they are banning all short selling.

    They are doing this because they owe the United States for the Korean War, and they want to show solidarity.
    ----------------------------

    Those Koreans are some straight up dudes. Custer must be rolling in his grave after the tax cut on wooden arrows.
     
    #19     Oct 9, 2008
  10. A Lucrative Business

    The little-known stock-loan business has generated billions of dollars in the last few years for many Wall Street firms.
    ----------------------------

    Lucrative for the pension funds too.
     
    #20     Oct 9, 2008