Stockgate :-?

Discussion in 'Economics' started by Avalanche, Mar 30, 2005.


    What's this all about? Anything I should know about? Anybody read that website or know the author?

    "Dateline to Air Stockgate Segment April 10th

    by Mark Faulk
    After over a year of promises, postponements, and delays, Dateline finally confirmed today that they will air their report on the stock market scandal on Sunday, April 10th, at 7 pm ET. The segment, dealing with the scandal dubbed "Stockgate", has long been anticipated by advocates pushing for reform in the stock market, and was first confirmed by The Faulking Truth last June. This is an excerpt from that article:

    "It's been called the biggest financial scandal in the history of the world, with incurred losses estimated by some experts at well over $1 trillion dollars. It's a scandal that involves over 1,200 offshore hedge funds, over 150 US brokers, and has already bankrupted over 7,000 US companies in the past six years. According to many of the lawsuits filed to date, the crooks include terrorist groups and organized crime syndicates. Sources say that this scandal, which involves an intricate system of selling electronic counterfeit shares of stock in an effort to destroy the market value of small publically traded companies by utilizing a method known as "naked short selling", will eventually implicate almost every major broker in America, all of the governing bodies that oversee trading, and will extend into Canada and Europe."

    Sources at the time told us that the Dateline story contained information that would "blow the roof off of this scandal", and that Dateline had already filmed over 100 hours of explosive footage, with interviews from class action attorneys John O'Quinn (of the Houston law firm of O’Quinn, Laminack and Pirtle), and Wes Christian (of Christian, Smith, Wukoson and Jewell), who along with the law firm of Heard, Robins, Cloud, Lubel & Greenwood, who are representing clients in dozens of lawsuits filed against the SEC, the DTCC, and several of the country's largest brokerage firms. "
  2. nkhoi

    nkhoi Moderator

    wow! my prediction, after the show SEC will propose margin for all individual accounts be reduced to zero. :D
  3. Naked Short Selling - you did it baby. Time to bump my old thread!
  4. Choad


    I'm skeptical.

    This is about abuses in the OTCBB market. It's always been a cesspool of manipulation and corruption. Nothing new here...
  5. Naked Shorts and OTCBB...old news.
  6. The SEC should allow naked short selling. Providing the firms, brokers, and banks demonstrate financial ability to cover.
  7. I did not see this air (or did the powers that be stop/delay the broadcast)
  8. Did it air? Nothing on the web or dateline msnbc.
  9. TooL

  10. I hope this postponement was due to an effort to maximize exposure, rather than being part of a "burial process"

    "Once again, this raises the usual questions about how committed Dateline is to this story, and after postponements and cancellations that have kept this off the air for over a year, those concerns are valid. While Dateline officials assured us that they "will air the segment", the major media has been stepping up the pressure over the past few weeks, releasing a flurry of articles on the naked short selling scandal that has plagued the stock market for years."

    " So there you have it: one more delay on the story that has been called "been called the biggest financial scandal in the history of the world, with incurred losses estimated by some experts at well over $1 trillion dollars."

    Instead, it's beginning to look like everyone will be treated to a hard-hitting interview with American Idol teddy bear Ruben Studdard. Enjoy. We'll keep you posted, and that's the Faulking Truth."
    #10     Apr 11, 2005