July 21, 2008
Okay this is gonna be a long one cause you folks at the SEC obviously do not get it.
WE THE PEOPLE ARE SICK AND TIRED OF YOU LETTING CROOKS RIP US OFF.
As someone once said: The angriest person in the world isn't a man who lost his job. The angriest man is someone who feels cheated out of their hard earned savings.
WE ARE ANGRY, and after 3,4 + years of you guys thinking about doing something to REALLY fix the problem instead of dening it exists and sweeping it under a rug, while we watch stocks entire floats trade many times over in a couple of days is what is ticking us off. You havn't done squat to correct this disgracefull practice for years now.
WHY??
WE put money into stocks to hopefully see a return on our investment as the companies grow over time. We know it's not a guaranteed thing, but it appears The SEC along with the hedge funds and market makers are now stacking the decks so much against the investor that there isn't any point in investing period. Daytrading for a super short term to make some money off some charting guesstimates maybe, but long term investing.. Whats the point anymore. It appears the stock market is all a sham thats being run by the crooks.
This is a post from one of the thousands of websites dealing with particular stocks a person is interested in.
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Lets make it simple stupid
1.) When you short a stock, what are you gambling on?? Or and what is the only way to make money shorting a stock?? A downward move in the stock is the only way to make money
2.) Why is shorting legal? Who the Heck knows
3.) What is the benefit to that stock? None
The simple stupid of shorting is For you to consistently make money in the stock market by shorting you either have insider information or you are working as part of an organized effort to drive down the very stock you are shorting
When this is looked into, you will find an organized well oiled machine of Day traders , Marker Makers and Broker dealers who work together to manipulate the market for personal gain at the expense of mom and pop shareholders Average people/shareholders are the only ones that loss in todays market because of shorting
If you think other wise, show me some examples of a MM, BD or trading Firm that has reported a major loss via shorting efforts Until a year ago and a half ago the biggest culprits Hedge Funds and the Larger Institutions all were reporting record gains, The top 20 managers received billions a year in bonuss for their great efforts in locating stocks to short
An important blast from the past, find the internet interview where the Ex-Chairman of the SEC was being paid as a consultant to locate shortable stocks If that does not give you a sick feeling then there is not much that will "
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Now it would be pretty easy for us to find out who was selling all the fake shares and how much money they made from it if the SEC would make Marketmakers and hedgefunds publish that info at the end of EVERY day. But it seems to me that the SEC has absolutly no interest in finding Stock manipulators who are steadily feeding rumors and lies to those with the power to spread them in order to cash in on the movement of the stock price.
And what is worse is that there is absolutly no rule making them ever buy the stinking shares back. They could sit on a NSS position that increases the total outstanding shares of a company 2, 3, 10 times what it should be.
Imagine a company with 100 shares. If some brokerage wants to short 100 shares, that seems fine and dandy to the SEC. No Problamo buddy You guys don't seem to care that there is no way anyone in their right mind should be able to sell 2, 3, 10 times the total number of real shares cause if you did you would have stopped it already. But you couldn't even if you really did want to because the hedge funds and big investment banks are the ones telling you folks what to do.
PLEASE explain to us idiot investors WHY you allow this to happen. WHAT LAW allows you to tell brokers it is fine and dandy with you if they sell stock they don't have, driving the PPS ever lower, destroy companies ability's to raise funds to accomplish their plans, forcing them into bankruptcy and the NSS do not EVER have to actually borrow the stock from someone or even buy it back? FREE MONEY And even better it is most likely TAX FREE Ahh Life is grand Unless your the poor schmuck who actually tried to invest in the company because you had the audacity to actually think the business would succeed and grow. As Homer would say, "DOH"
OH WAIT Not all companies can be destroyed though Cause today your Eminence Mr. Cox just prevented brokers from Naked Short Selling these magnificent examples of the US banking/mortgage System:
BNP Paribas Securities Corp. BNPQF or BNPQY
Bank of America Corporation BAC
Barclays PLC BCS
Citigroup Inc. C
Credit Suisse Group CS
Daiwa Securities Group Inc. DSECY
Deutsche Bank Group AG DB
Allianz SE AZ
Goldman, Sachs Group Inc GS
Royal Bank ADS RBS
HSBC Holdings PLC ADS HBC and HSI
J. P. Morgan Chase Co. JPM
Lehman Brothers Holdings Inc. LEH
Merrill Lynch Co., Inc. MER
Mizuho Financial Group, Inc. MFG
Morgan Stanley MS
UBS AG UBS
Freddie Mac FRE
Fannie Mae FNM
OMG WTH??? Can you, for the Love of God PLEASE explain to us poor retards you take us for, HOW in the HELL can you Justify stopping crooks from DESTROYING those companies, yet ALLOW it to keep goin on business as usual for all the other companies in the market???
IF us "too dumb to know anybetter" investors knew better, I would think we would demand a MAJOR investigation into how our markets and brokerages and Regulators are allowing NSS to occur without any check and balances or any clue as to how many NSS positions there are out there in the markets.
And the kinda, sorta, not really NSS protection obviously wasn't done to protect them from abusive traders who want to flood the markets with counterfit shares to go along with the rumors they spread in order to bankrupt those companies could it?? I mean it HAPPENS EVER DAY TO OTHER COMPANIES AND YOU DON'T DO CRAP TO STOP IT WHY ARE YOU PROTECTING THOSE COMPANIES AND NOT THE REST OF THE MARKET? Please explain it to us.
I mean when the vast majority of the days trades in companies Fail to be Delivered.. over and over again. You guys don't seem to care one lick about it. You ponder the problem for a few months, make some vague statement about doing something, then ponder it some more. You obviously don't read these comments, cause it is pretty clear what the average investor thinks about you and your ability to enforce the rules on the books. I wonder why that is?? Hmm.. Let me think on that for a bit. Maybe it is because we can count. We can see that when a company has a float of 10 million shares, and 50 million trade within a week.. Something is mighty fishy. And when companies are on your precious Reg Sho List for years much less weeks, it doesn't take an eye doctor to see you guys do not have the slightest interest in stopping crooks from selling made up shares to unsuspecting people who want to own a real piece of a company. Not an IOU piece that is now apparently all those electronic shares represent. Who in their right mind would buy an IOU in a company knowing that there are thousands of others probably buying it too and now nobody has any idea what the company is now worth because the trades are bouncing just like a bad check and not getting settled.
Maybe this little example will help you see how your actions and lack thereof is seen.
If you guys had to buy some medicine to keep your kids alive, and it never gets delivered by the swindlers who sold it to you.. wouldn't you care just a little bit?? I mean it is your kid who you worked hard to raise and teach right from wrong.. and wouldn't you get VERY TICKED OFF when it happens over and over and over again to your whole freakin town and nobody does ANYTHING to stop it? Just a few comments here and there about doing something one day after you discuss it for a few months. UNTIL ONE DAY..the mayors kid get sick.. WHoa buddy Then the leash gets put on the swindlers and the medicine gets delivered in a flash and it keeps coming until the kids ok, then the leash gets taken back off and the rest of the community gets the shaft again.
To start correcting the problem:
Eliminate all Exemptions.
Locate the stock BEFORE the security can be sold and eliminate stock locators from loaning the same stock to a bunch of different people.
Make the process TRANSPARENT and make market makers declare their NSS positions at the end of every day if they do not have the stock to back up their short positions. And Settle the trades Faster.
And how many years have ya'll spent chit chatting, doing nothing about this?? Hell, at least you aren't still denying it even exists anymore. We are making progress now buddy Yee Haw. I hope the FBI takes a good look at you guys one day to see what you have really been doin all these years. And why you only want to protect a select few of your big banking buddies and not the rest of the markets is beyond me. I guess we need another regulator to regulate the markets. You guys can keep protecting your NSS buddies and the big banks. And the new regulator an protect the rest of us. Hopefully Their first Enforcement action will be to Arrest Everyone of you involved in helping crooks DESTROY companies and ROB hundreds of millions of people of Billions and Billions of their hard earned savings
Someone once said something like, "The angriest person in the world is not someone who has lost his job. The angriest person in the world is someone who feels cheated out of the savings earned from his job."
Take a look at folks 401k's. Does it look like they should have a right to feel a bit peeved? Although I guess if they were short they are ecstatic- LOL However, from the stock FTD's to the counterfit bonds.. our system is a big stinking mess and YOU - The Regulation Enforcers- have not done too terribly much to prevent any of it. Even after Enron, the half hearted way you have gone about putting the fear of GOD into the financial crooks is laughable. Again, how may years do you folks plan on talking about Reg Sho and its Smoke and Mirrors show while the Brokers still NSS stocks and just use their Ex-Clearing to hide it.
Maybe if ya'll get serious about stopping this, you might consider pulling some trading records of a few companies for starters and see exactly WHICH broker/dealers whoever, is selling shares they never borrow. Then start looking at the folks in those brokerages and see if they have been active on message boards chit chatting about those stocks or if they have been making any phone calls to financial journalists. Then look at the articles those journalists have been writting and see if you can see a link. Hmm.. it seems like an awful lot of work. I know your just Gov't bureaucrats who are probably just passing time till you get another job at some big law firm or brokerage house, but try to think of the rest of us who are watching our savings go down the tubes by folks manipulating the markets in plain view of everyone while ya'll do squat to stop most of it.
Here is a website where the folks have done ALOT of dot connecting for you. PLEASE take a look and read the articles by Mark Mitchell.
http://www.deepcapture.com/
Also http://www.businessjive.com is one of the best explanation of Ex-Clearing and its effect on our markets.
So in short, If you can stop NSS in a few financial stocks you must realize it is a problem for their survival. And if it is a problem for them, it is a problem for ALL stocks and they should have just as much protection as any other no matter what type of company it is
STOP NAKED SHORT SELLING PERIOD NOW