May 19, 2008
- Broker and dealers who are responsible for FTDs are exempt from rule 10b21 and therefore naked short selling will continue since they are the main cause.
- The 1976 Security Processing Laws gives the SEC all the authority it needs to enforce the rules. The SEC has oversight over ALL clearing agencies to ensure the accurate settlement of security transactions. Any party who decides to do otherwise can and SHOULD be revoked by the SEC (yes, the SEC has the power to do so).
- In a world where almost all financial transactions are done via computers this whole 'naked' short selling fiasco is a simple software programming problem and its solution should thus be very easy to accomplish. Any 'authority' who denies this should be instantly fired for their incompetence.
- The SEC can and likely will be held responsible for their actions due to the fact that the SEC has done everything possible to ensure the non-implementation of solutions and thereby has become partners in crime with the counterfeiters. Punitive effects can be awarded to damaged parties by the SEC for their gross negligence and willful misconduct. By means of the Bivens Claim these government officials can be held responsible for their actions and receive their just reward.
- Broker and dealers who are responsible for FTDs are exempt from rule 10b21 and therefore naked short selling will continue since they are the main cause.
- The 1976 Security Processing Laws gives the SEC all the authority it needs to enforce the rules. The SEC has oversight over ALL clearing agencies to ensure the accurate settlement of security transactions. Any party who decides to do otherwise can and SHOULD be revoked by the SEC (yes, the SEC has the power to do so).
- In a world where almost all financial transactions are done via computers this whole 'naked' short selling fiasco is a simple software programming problem and its solution should thus be very easy to accomplish. Any 'authority' who denies this should be instantly fired for their incompetence.
- The SEC can and likely will be held responsible for their actions due to the fact that the SEC has done everything possible to ensure the non-implementation of solutions and thereby has become partners in crime with the counterfeiters. Punitive effects can be awarded to damaged parties by the SEC for their gross negligence and willful misconduct. By means of the Bivens Claim these government officials can be held responsible for their actions and receive their just reward.