September 11, 2007
It is sad that a few vocal OTC market investors are the only ones commenting on this rule. There basic lack of understanding of the real market place is the problem with this whole mess with vocal NS activist stirring the pot. And the problem is the leaders of the NS movement are the ones lying to these people. Example is the latest revelation by Bud Burrell who runs a blog on thesanitycheck.com website. Where he admits that he has been paid by one of the OTC's company's that he tauted as being naked shorted. His non-disclosure until now is very telling. Only now tells of his mis-deeds after the SEC steps in and appoints a receiver to the company USXP. Yet many that are leaving remarks right now have been told by this person that the NS is so ramped that it is destroying the market. Convincing them that naked shorting was the problem while the very company he tauted with the NS line was dumping unregistered shares on the market. Bud Burrell and other NS activist on the sanity check blog use misleading numbers to make the NS issue look worse then it really is while pumping bad companies that are dumping billions of shares on the market and blaming it on naked shorting. And it is sad that they get by with this. Misleading and making angry investors that lost money in the risky OTC market by blaming it on NS instead of where most of the problem lies which is bad companies dumping massive amounts of shares. And it is even more sad how they have convinced so many to buy and hold these bad stocks by claiming it is the SEC and naked shorting's fault. Leading them to believe that they will make money holding onto these bad stocks because of some sort of forced cover in the future that never happens. Even when the SEC steps in they have convinced the naive investors that it is the market trying to cover up the NS issue. Never blaming the real problem of bad CEO's making bad choices while blaming the mean ole SEC, brokers, and NS. When will these people that lie ever to cover up massive dumping be brought to justice? And not just the CEO's but the people like Bud Burrell that set it up for the CEO's to get by with it.