Breaking News: SEC FINALLY Bans Naked Short Selling - Flytiger Vindicated

W4rl0ck · Sep 17, 2008

This is a typical SEC enforcement. Disgorgement, injunctive relief, civil penalties and interest.

The penalties are negligible compared to the potential rewards of not being caught. I see no criminal charges or jail time in a cell where Bubba wants them to be his girlfriend.

They need time in "pound them in the #ss prison" to really scare them.

"The complaint charges Grossman and Curshen with violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. The Commission seeks permanent injunctive relief, disgorgement of ill-gotten gains, if any, plus pre-judgment interest, civil penalties, and an order prohibiting Defendants from participating in any offering of penny stock."

Quote from flytiger:

The SEC doesn't have criminal jurisdiction. They make a case, and turn it over to Justice. I suggest you search for "jonathon curshen." Arrested 9/4. That's your clue what's coming.

Here that, paid posters? DOJ. Arrests. Contagion.

flytiger · Sep 17, 2008

Quote from W4rl0ck:

This is a typical SEC enforcement. Disgorgement, injunctive relief, civil penalties and interest.

The penalties are negligible compared to the potential rewards of not being caught. I see no criminal charges or jail time in a cell where Bubba wants them to be his girlfriend.

They need time in "pound them in the #ss prison" to really scare them.

"The complaint charges Grossman and Curshen with violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. The Commission seeks permanent injunctive relief, disgorgement of ill-gotten gains, if any, plus pre-judgment interest, civil penalties, and an order prohibiting Defendants from participating in any offering of penny stock."

You're looking at the SEC civil action. That's what I mean about amateurs. Go find the DOJ indictment for Securities Fraud. Screw the SEC. You want RICO indictments.

W4rl0ck · Sep 17, 2008

Since you seem to know all about it where's the link?

Quote from flytiger:

You're looking at the SEC civil action. That's what I mean about amateurs. Go find the DOJ indictment for Securities Fraud. Screw the SEC. You want RICO indictments.

W4rl0ck · Sep 17, 2008

While you're at it why don't you post links to any SEC enforcement actions against naked short sellers?

Quote from W4rl0ck:

Since you seem to know all about it where's the link?

flytiger · Sep 17, 2008

Quote from W4rl0ck:

Since you seem to know all about it where's the link?

Bite me. and maybe I do know it all. Ever think of that?

In2006 Greenberg and Cramer were tight as ticks. They received SEC subpoenas for cause that were mysteriously crushed by on e LInda Thomsen, Dir of Enforcement of the SEC. Where's Herb Greenberg? Oh, and here's his pal, who, if you look will find him call us all nuts:

http://www.thestreet.com/_yahoo/vid...?cm_ven=YAHOOV&cm_cat=FREE&cm_ite=NA#10437879

Now where did Herb go, and why is Jim my friend? Hey. Maybe I do know it all.

W4rl0ck · Sep 17, 2008

Sorry, I meant links to reputable sites like the SEC, DoJ, etc.

Let's see them.

Quote from flytiger:

Bite me. and maybe I do know it all. Ever think of that?

In2006 Greenberg and Cramer were tight as ticks. They received SEC subpoenas for cause that were mysteriously crushed by on e LInda Thomsen, Dir of Enforcement of the SEC. Where's Herb Greenberg? Oh, and here's his pal, who, if you look will find him call us all nuts:

http://www.thestreet.com/_yahoo/vid...?cm_ven=YAHOOV&cm_cat=FREE&cm_ite=NA#10437879

Now where did Herb go, and why is Jim my friend? Hey. Maybe I do know it all.

trade4succes · Sep 17, 2008

One little problem; if it will be difficult for people to short, who will be willing to buy in a panic if there are no shorts to cover?

Angrycat · Sep 17, 2008

Quote from trade4succes:

One little problem; if it will be difficult for people to short, who will be willing to buy in a panic if there are no shorts to cover?

If the stock gaps down low enough, there will be buyers.

So, for all those looking to stop shorting to prevent price discovery because they don't like the price that will be discovered, buckle your seatbelts.

flytiger · Sep 17, 2008

Quote from Angrycat:

If the stock gaps down low enough, there will be buyers.

So, for all those looking to stop shorting to prevent price discovery because they don't like the price that will be discovered, buckle your seatbelts.

No one in my camp ever wanted to stop shorting. What we are saying is obey the law and settle the trades. Don't resort to extortion, fake stories from paid journalists, and innuendos to make your bones.

Is that so difficult?

flytiger · Sep 17, 2008

14:20 Short-Selling Rule

Hearing strategist at tier-1 shop saying there are approx 22B shares that were "fail to deliver" as of June 2008 and these shares need to be bought back to come in compliance with the new naked shorts rule.

from JP MORGAN - Short Selling Rule: Our strategist Tom Lee saying there are approx 22B shares that were "fail to deliver" as of June 2008 & these shrs need to be bought back to come in compliance w/ new naked shorts rule. Could see people scrambling to cover

22 Billion. Shit. I thought it was a big problem.

Gee. Where's themoney the suckers put up to buy those 22,000,000,000 shares? They didn't buy the stock? Just curious.