http://investigatethesec.com/drupal-5.5/files/Senators Dear Colleague Letter re NSS_20091014.pdf Something very vile is causing the SEC to ignore NSS, while "handling", in their special way, flash trading, Ponzi's , insider trading..... How onerous is the NSS cleanup. I think I know.
These stupid senators, instead of telling their constituents their country is bankrupt are blaming the downfall on some technicality bs "NSS" rule. And they quote "Rolling Stone"!!! What kind of morons does the US senate have??? Some "leaders". WTF?! Stop blaming the country's failure on bs rules and address the core of the problems!
Does that mean you don't think naked short selling is a problem? Isn't it a good thing that senators are taking on something that can do some good for a change?
It is. Chanos and the managed fund association was there time and time again, and their lies buried them. Lets' see who's named in the Galleon followup. It may solve a lot of problems all in one fell swoop.
Again, a letter which implies that naked shorting was the cause of stocks going down during the financial crisis. Now tell me, what happened when they outlawed *all shorting* on financial companies? Did the stocks go up or down? Anyone want to wager a guess?
Why then, was it GS that requested that ban? Explain that one. Whoever you work for must be squeezed pretty good. It was the brokers that requested the ban, the targets of the NSS. Of course, as soon as the "all clear" sounded, solid citizens that they were, they went back to the old tricks.
Did you answer my question at all? If naked shorting is the cause of the financial collapse, why did financial companies get absolutely hammered when it was illegal to short?
I wonder anyone followed the Overstock case. Was it a lawsuit against the SEC ? A "long long" time ago, when the Overstock case were just in the internet, I followed it. If those blog articles were accurate and honest, then I won't be surprise that the American Empire is on its last days - corruption of the highest order will be the cause. I believe that there are still some countries around now which would immediately investigate such happening should there be such cases coming to light. Anyone responsible in allowing such cases to come to pass would be be found criminally guilty - it is the same as "legalizing" crime. People often points to great corruptions in China. But corruption has not been legalized in China yet whereas in the US, crime is legalized and, may be, written into some laws.
The most shocking thing is that I believe our stock market is FLOODED WITH FAKE NON EXISTING STOCK. Basically, your broker (a broker) could sell you stock that doesn't exist, creating endless wealth for themselves. STOCK THAT DOES NOT EXIST, I said. This can be the biggest financial scandal ever. Please read this article (all of it) and contact your senator, elected representative: http://www.rollingstone.com/politics/story/30481512/wall_streets_naked_swindle