September 1, 2008
The shareholders of Universal Express applaud Christopher Cox's decision to expose the naked shorting problem which is raiding the banks , if the hedge funds are capable of manipulating the shares of a big bank just imagine what they could do to a small cap company .
USXP has been crying out about corruption in the OTCBB and pink sheets for years . The previous chairmen ignored the naked shorting problem which has grown since then .
Paulsen had a chance to fix things here by jerking the choke chain on the SEC, but instead, he stepped away, not only causing the SEC to do anything to fix its conduct, but giving it broader sway by giving them control of the CFTC.
We are headed into a train wreck here, no question.
The Secretary of the Treasury Paulsen said they had to look at new ways of regulating the Prime Brokers, hinting that the SEC hadn't done its job.
Europe has better legal systems they have mandatory 3 day settlement in both the UK and the EU. Mandatory 3 day settlement insures that they don't have these massive fails issues.
The shareholders of Universal Express would like acces to the trading data to see just how big of a problem this is .