July 16, 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.
When they sell us something that doesn't exist and it affects the price of our investments.. it is a criminal act and someone needs to have their butt thown in a prison.
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."
WE put money into stocks to hopefully see a return on our investment as the companies grow over time. 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. It appears the stock market is all a sham though run by crooks. 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 putting on a Smoke and Mirrors show while the Brokers still NSS stocks and just use their Ex-Clearing to hide it. Cramer admits about ways stocks are manipulated in his hedge fund days and defaces a subpena on his show, and he gets away with it. It's just sad.
The brokers inflate the companies outstanding share structure to the point nobody (Transfer Agent, Dtcc, ADP, investors) has any idea how many shares are in the market or what the value of their company really is now. Refco ring any bells?? How about Global Links Corp where a guy bought the all the outstanding shares and the next few days 50 million shares still kept trading? There are examples of companies getting NOBO lists from brokerages that are not even close to what the Transfer agent has on its books and the ADP numbers from the DTCC are even higher. Is it any wonder why the DTCC appears to be working in cahoots with certain individuals who try to discredit folks who are investigating NSS? Who is in charge of keeping the numbers straight? Who is keeping an Eye on the DTCC???.
PLEASE explain to us poor idiot investors WHY you allow this to happen. WHAT LAW allows you to tell brokers it is fine and dandy 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? What section is that under? Should we be writting these comments to Congress to get legislation passed to fix this problem?
It is nothing short of FREE MONEY for the crooks. 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" Long term investors are gonna go the way of the DODO bird if things keep goin like they are. Why invest in US markets when they are run by crooks and the odds are fairly good that any company you invest in can be destroyed by NSS?
OH WAIT Not all companies can be destroyed though Cause yesterday your Eminence Mr. Cox just prevented brokers from Naked Short Selling these magnificent examples of the great 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???
It 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?? 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???
WHY WHY WHY Are you turning our financial markets into the new version of of our justice system where those with money and influence can buy their justice, and those without it get the public defender and the shaft.
Please explain it to us why you think it is prudent to protect the few and let the wolves eat the rest of the market.
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 by the rest of us who are not getting the protections you give to others.
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.
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.
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. You might be surprised to find that there is some folks at the DTCC involved in helping some of those reporters cover up NSS, while throwing mud in the eye of anyone who is investigating it. I wonder why that is?? We are not stupid, and we want justice
Here is a website where a few individuals have done ALOT of dot connecting for you. PLEASE take a look and read the articles by Mark Mitchell and others. Take Notes and Investigate If your not gonna do it, we will force Congress to.
http://www.deepcapture.com/
When you actually get around to stopping NSS and make the system more transparent you will have my sincere thanks. Get rid of the ex-clearing, or at least make em report it no exceptions. Make Brokerages post how many shares of a company they have at the end of every day. It would make it easier for shorts to borrow shares so they can legally short the stocks. Make the shorts Borrow share before they short just like you are doing for Fannie and Freddie Get rid of the 3 day settling and make it 1 day. Everyone has computers. How hard is it to settle a trade at the speed of light?? If you can do the transactions over L3, you can settle the trades right then too.
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, then it is a problem for ALL stocks The rest of the market should have just as much protection as any other no matter what type of company it is
STOP ALL NAKED SHORT SELLING PERIOD. NOW .
I applaud what is hopefully just a first step that will be QUICKLY followed up with similar rules for the WHOLE market that will be permanent.
And after you start enforcing the rules on the books, please START investigating the folks who have been behind robbing the public of their savings for years.
AND READ the Articles on WWW.DEEPCAPTURE.COM
And what's the deal with not allowing exclamation points to be used in these comments??