Fly Startups can't get capitol to manufacture in this country and industry has been systematically looted and I am a HEDGIE? Nope I am the unconnected industrial prey of Wall Street. Try raising capitol for an industrial company in the US after 1984. Naked short selling is only part of it. I worked for a company called Tool Research that had an R&D budget and retained earnings to smooth the boom/bust cycle of aerospace. Because we had money and no debt we were subjected to the KKR takeover/bid proxy fight/ White Nite buyout looting destruction in 1988. We went from 2500 employees to 70 after they made half a billion liquidating our assets and reselling the company plus a 250 million dollar tax write off. I have seen this happen to alloy makers and welding materials suppliers and just about everyone that I deal with over and over and over again, their retained earnings get transferred to the takeover artists every 3 years until a bad patch in the economy coincides with the last looting and the companies go bankrupt. These hedge funds AND Investment banks are parasites that ate the host and blamed the resulting destruction on the unions being paid too much. We were doing FINE before the buyout. Union labor and all. (And I am not a union member but the one thing that business depends on is customers and if all the jobs are McJobs then only bankers and hedges will be able to patronize anything other than McDonnels and Walmart.) The only thing the unions had to do with it is that a lot of the money borrowed to make the LBO tender offers and ship their jobs offshore was borrowed from insurance companies and pension funds. They used the union's own money for the buyout that put the union members (and me) out of work. Investment banks are supposed to fund industry, not loot it or sell stock that does not exist to the point that proxy votes are decided by the votes of counterfeit shares. But the government was captured LONG ago and the Madoff exemption for Market Makers that allows them to do naked shorts was only the formalization of a practice in place since the 80s. The looting mechanetions of the Wall Street financial complex have destroyed American Industry and for the good of the country has to be stopped.
Seriously flytiger, you need to reread truehawk's post again. He was complaining about naked short selling, not saying it was good. You should probably stop speed reading so you can comprehend what people are saying. I'm just telling you this for your own good because he agrees with you. Why do you put people down without the slightest of hesitations? Is it because this naked short selling quest is more of a religion for you rather than something based in reality? That would explain the tone and quantity of your posts. You know nothing about me and you certainly don't know anything about my folks. I'd wager that I understand the difference between right and wrong just as much as you. For some people, that makes you immoral and un-American. Are they wrong? I guarantee that I have just as much integrity as you. Again, you know nothing about me and your personal attacks are just conjecture. When someone does not have a good argument, that is what they resort to - personal attacks and vulgarity. You would be a lot more credible if you showed some class. Actually, the financial entities that made ridiculously overleveraged bad bets threaten the very existence of the system. So because I question your theories and conclusions, I am a hedgie? Again, you know nothing about me. Can an individual think for himself and draw different conclusions than you without being a hedgie? I guess to you, they cannot. The EliteTrader anti-naked short selling movement needs a new figurehead besides yourself. One that shows some respect and class. As I have said multiple times before, I believe the SEC needs to enforce the naked shorting rules. I just don't believe naked shorting has crushed this country like you do. You somehow have missed this point time and time again.
The EliteTrader anti-naked short selling movement needs a new figurehead besides yourself. -=== Pope Patchie should appear any moment.
"An unnamed hedge fund has responded to the arrest of Galleon's founder and four others by putting out feelers for the services of experts who can come in and make sure its own employees are not wearing wires." http://www.forbes.com/2009/10/20/galleon-hedge-fund-wire-personal-finance-galleon.html?feed=rss_news Kinda late. No? Guys have been wearing wires for at least three years. Patch is busy. He calls Chairman Shapiro "Mary" now. Remarkable what he's done.
Galleon's founder and four others ------------------- Bunch of bagholders. lmao. It'll be interesting to see if you can convict a bagholder on insider trading.
"Federal prosecutors in the Galleon Group case have sent a subpoena to a former employee of SAC Capital Advisors, a sign that the scope of the probe into the largest hedge fund insider trading case in history is expanding, the Wall Street Journal reported, citing people familiar with the matter." http://www.newsdaily.com/stories/tre59n1db-us-insidertrading-galleon-wsj/ Just the Beginning. If Congress subpoenas BAC over Countrywide, with Adolphus Townes a VIP Borrower, you can assume there is much, much more coming. No more prima donnas
So, can anyone explain to me why the "authorities" did not investigate this story and the mountain of paper trail associated with it? Also, who is the "Nostradamus" trader? Why isn't CNN, MSNBC, NYT and others all over this story? I cannot understand that, please help. PRESIDENT OBAMA, CAN YOU HEAR ME?
Byrne explained it since day one........Deepcapture. Institutions become captured by the entities they are supposed to regulate. If you read dc, you'll see major reporters working hand in hand w/hedgefunds to manipulate securities. It's really that simple.