March 27, 2008
This is a serious issue but the problem is you have a bunch of people who have been lied to for so long that they have false conceptions on what NS actually is or how it works.
Most commenting on this are pinksheet investors that where scammed by crooked CEO's and blame naked shorting for the problems. These scams set up boiler room tactics to convince people that naked shorting is the problem to hide massive amounts of illegal dumping of unregistered shares onto the market. And the scam has worked.
These people ignore and in most cases take up for the CEO's that robbed them. Using naked shorting to cover up the crimes. They know naked shorting exists and that there is abuse of it in the market so it was so easy to convince naive investors that their problems were not the companies fault but the evil market makers and the brokers using naked shorting to destroy the company.
Many of these tactics where set up in Las Vegas. Where they used shells and gave them paper life with lavish PR's of wonderful news. Then they started the brainwashing of naked shorting early with shady IR's who use message boards to pass false information then in the end claim they had no inside information to wipe out their responsibility in the crime.
Many of these crimes where set up by people like John Edwards, Rick Taulli, Dave Desormeau, James Kinney, and Harold Gerwerter just to name a few. they scam people that know little about the market and train them on message boards with false information making them believe it is true. And naked shorting was an easy blame game. You had companies like QBID, PCBM, CMKX, USXP, NNOS, and many others that have used naked shorting as a way to cover up billions of shares hitting the open market. And it worked.
They set it up with message board promoters who use cult tactics to brainwash people into not only believing but going out and spreading the false information to the next new investors who really didn't know the truth until they fell into the pinksheet message board black-hole. Sucking all since of realism and common sense out of their souls.
What is really bad is it has worked. Just look at the people posting here. Believing that shorters owe them money or that the government is somehow hiding a settlement check from them. All the signs of a cult. And the infection continues with the next new investor ready in the wings to be sucked in. Made to buy a bad investment on some belief that it will make them rich if they just hold out for shorty to pay off because they are owed it for their time. And it is the internet message boards that harbor these criminals using it and naked shorting to get people to buy bad stocks that never report while dumping billions of unregistered shares.
Will this ever end.