"Wall St's Naked Swindle"

Discussion in 'Wall St. News' started by flytiger, Oct 16, 2009.

  1. Usually I ignore flytiger's posts because he does not understand the realities of Capitalism and he is a Socialist ... BUT in this case he is right and this is not Capitalism but a CRIMINAL matter that must be investigated.
  2. Been called a lot of things, but "socialist"?

    This is just the tip of the criminal iceberg. These knuckleheads have given capitallism a bad name, siced the left on us, and opened the door. Bush telling Cox to ignore naked short selling was the beginning.

    Yes, it's criminal.

    By the way. I was told two or three days ago Citron research was going to slam AMED. Easy money there piling on. I didn't do it. Look at the news from yesterday.

    Wanna bet that thing was naked shorted to death before the act? Nothing has changed. Nothing. What "research house" blows the whistle before hand, unless your game is to destroy a stock?
  3. Very good article flytiger. Look how they make something illegal possible, but make sure they do it fast. From that article:

    In 2005, complaints from investors about naked short-selling finally prompted the SEC to try to curb the scam. A new rule called Regulation SHO, known as "Reg SHO" for short, established a series of guidelines designed, in theory, to prevent traders from selling stock and then failing to deliver it to the buyer. "Intentionally failing to deliver stock," then-SEC chief Christopher Cox noted, "is market manipulation that is clearly violative of the federal securities laws." But thanks to lobbying by hedge funds and brokers, the new rule included no financial penalties for violators and no real enforcement mechanism. Instead, it merely created a thing called the "threshold list," requiring short-sellers to close out their positions in any company where the amount of "fails to deliver" exceeded 10,000 shares for more than 13 days. In other words, if counterfeiters got caught selling a chunk of phantom shares in a firm for two straight weeks, they were no longer allowed to counterfeit the stock.
  4. Lethn


    Can people on this board please actually learn what Socialism means and stands for before they go blindly attacking it because a politician has?

    What we have here is Corporatism, not Socialism bloody look it up.
  5. zdreg


    russia never had true communism. therefore communism was not a failure


    best game in town is playing semantics
  6. A scheme to flood the market with counterfeit stocks helped kill Bear Stearns and Lehman Brothers — and the feds have yet to bust the culprits

    If your area of expertise is counterfeiting and naked short selling well then yes, you can say that.

    Oth, if your area of competence is CDOs with massive exposure to subprime mortgages then you might believe that killed BSC and LEH.

    All depends.

    In any event sharks smell blood.
  7. Lethn


    I think the only country that has ever come close to having actual communism is Cuba and that country has survived incredibly well for decades and comes out with some of the best doctors in the world.

    Of course I'm sure the die-hard Americans on this board will try to cite me sources they haven't read in order to prove otherwise.
  8. You challenge others' sources as inferior to you quoting from your memory? reality in Cuba:

    Most of the means of production are owned and run by the Cuban government and most of the labor force is employed by the state... By the year 2006, public sector employment was 78% and private sector 22%...Capital investment is restricted and requires approval by the government. The Cuban government sets most prices and rations goods. Moreover, any firm wishing to hire a Cuban must pay the Cuban government, which in turn will pay the company's employee in Cuban pesos according to Human Rights Watch. Cubans can not change jobs without government permission. The average wage at the end of 2005 was 334 regular pesos per month ($16.70 per month) and the average pension was $9 per month.

    You consider rationing, $16.70/month wages, requiring govt approval to change jobs, restricted captial investment as INCREDIBLE?

    Why do you think so many try to reach Florida at the peril of drowning? How many Americans (according to your memory) risk their lives on leaky boats to migrate to Cuba?
  9. Lethn


    I'm talking about Cuba surviving as a communist country without being on the brink of civil war or having its government collapse. I'm not actually talking about its financial situation oh and it is actually a fact that they bring out some of the best doctors in the world you know.
    #10     Oct 16, 2009