July 26, 2008
Our economy has been shorted and now naked shorted and SEC is doing nothing about it. Some make the excuse that SEC is not empowered by congress as certain special interests in congress are in it themselves. One thing is evident is that SEC establishes rules that cannot enforce. The law that is not enforced is no law at all
Mr. Cox on CNBC says naked shorting is not illegal since (electronic) systems need to continue working. Okay, I can see this. DTCC (Depository Trust Clearing Corp.) system needs to make the trades historically FTDs (Failed-To-Deliver) were allowed for 3 days to fill, now 30 days and some millions of shares are sitting there for years. So, Mr. Cox do you have any buddy running any reports on DTCC? Look at this site: www.buyins.net this site is a daily data base of all naked shorts. Is there anyone in this SEC concerned with these forgers who creating superficial supply of forged shares to break companies down link IndyMac bank which was in the 9th place in the top naked short list for over a YEAR, till shorts won by crooks at the clearing houses who loaned shares they didnt have. So win-win for the crocks in the expense of decent investors who trust theres a cop called SEC to protect them. Joke is on you Mr. Cox. WE KNOW and soon will the world and all average Joe investor.