I heard an opinion yesterday from someone in the know. He believes the DTCC has done nothing wrong. They are part of the clearing apparatus. It is analyageous (sp) to the house across the street being robbed, and you don't call the cops. They really can't pin anything on you, but you're not a good (corporate) citizen. In this case, this source says BD 's first. Then, they go to clearing firms and say, "why did you allow this trade".? Now I don't get it because they nailed Refco (SEC) after nailing only the Badian's, but like I said, multiple agencies/regs/enforcement on this all at once from several angles. For purposes here, I'll be looking at Overstock as a trading vehicle. The only others I know of right now are OTCBB's. They did not all start as OTCBB's, but thanks to NSS, they are now. If we have some fun w/OSTK, I'll post some others down the road, but it is too early. I don't want to look like one of those "newsletters" you get via fax. But, they will move, and I think soon. I want to make some money back, and punish the shorts, I mean Naked Shorts, I must remember to say Naked Shorts, in that order. Remember this. The SEC has said that in some instances, the fails in some companies (I'm sure OTCBB) exceeds the public float. F$@% Bob and Cialis or Encyte, or whatever. That does it for me.
Naked shorting ( in conjunction with death spiral financing) is (/was) probably one of the biggest industry scams going on. The SEC does'nt want to rock the boat in a weak market. As far as conspiracies go, I recall reading about individuals laughing off watergate for a long time until tapes were released and they were smacked with reality. As for the psycho intraday action these days about jumping on shorts, this may explain it. http://www.rense.com/general52/secretsoftheplunge.htm
well patrick is confusing, hes charging rocker with insider trading, but in the media he is mixing in naked shorting charges......I think pat is just losing it. If he really wants to prove shorts wrong...then start making money......and increasing profits like he said years ago when he pulled up that stupid graph that showed increasing profits with increasing revenue. Pat hasnt done it....you have a huge p/e and shrinking profits.
Naked Short Selling should be illegal - it's basically a dishoenst practice. Whether Overstock is fairly valued or not or whether the CEO is sane or loony is not the issue. Why does the US govt allow Naked Short Selling in our capital markets?
I'm sorry to dominate these posts, but my family and I have suffered since 1996 under this, and this is my time. For purposes of disclosure, I am a registered Republican. Sen Bennett (R)of Utah was supposed to help us. He is on record grilling the SEC on NSS> However, he disappeared. It is rumored that the Republicans don't want the problem to surface because it would ruin confidence in the markets. That they buttonholed him and told him to back off. They would never get privatization of SS, which I believe in, passed. I didn't want to believe that. Unfortunately, I have found that the Rep are pressuring authorities to back off, although I do not know if they hit Bennett. I am extremely distressed to believe that people in my party, with the information at their disposal, cannot see the light. An individual who will soon come to the forefront, who is fighting everyday, told me he used to be Republican, but considers himself Independant because of this type of activity. I hope everyone has listened to Byrne's conference call, because it is just filled with clues about who supports him and his actions.
well my question is that it doesnt explain overstocks bad performace, he promised way back when over stock first started by now we should see accerating profits and he lied. This is what bother people, his company seems tobe losing money even with increasing revenue. He doesnt deny it, he saids it would take years to eventually hit that profit level, but he wont specify what revenue level or when
I am not a fundie and I don't care. Not my worry. There are too many shorts, too many naked shorts. The shorts are getting squeezed, and the naked shorts have the heat onthem. It's August , little is happening, and we've got a horse. What more do you need to know? I never will build a postion in anything again. We'll beat 'em here, and m ake money, and they'll be back again with another scheme to screw the public. I can't wait for Monday. Bet the guys at GM say that.
lol you dont care about fundies, what do you care about then. the problem with byrnes, his problem is that he cant deliver what he promised. Hes been promising for years to deliver profits with increasing revenues..but its the reversed.
The Byrne interview on Street Signs: http://www.vmsdigital.com/MyFiles.aspx?Onum=B6AA2C8D-B6D9-4623-B5C0-37B128860FFF
what program did you watch??? this guy is as sharp as they come... he kicked ass. what part do you disagree with?? i seriously have to question your intelligence.