Isn't Naked Shorting illegal?

[Joab]

Quote from yoohoo:

yes it's illegal and a total fraud, supported, upheld and hidden by the SEC. It's destroyed good companies,

Yes

Because CROX and the hundreds of other bull shit companies out there that made nothing of value and made their boards rich beyond belief on the sweat of innocent shareholders who end up holding the bag while they are socking it away offshore are so much better for the world.

Shorts keep the world an HONEST place and only a fool who doesn't understand reality would argue this.

 

[flytiger]

Quote from Joab:

Yes

Because CROX and the hundreds of other bull shit companies out there that made nothing of value and made their boards rich beyond belief on the sweat of innocent shareholders who end up holding the bag while they are socking it away offshore are so much better for the world.

Shorts keep the world an HONEST place and only a fool who doesn't understand reality would argue this.

Only a fool would keep arguing about shorts, when we're talking 'naked shorts' rumor mongering, piling on, using CNBC as the idiots they are.

 

[flytiger]

Quote from OneChicago:

There is a very simple solution that has been presented to the regulators but has not been acted upon.

Today there is no penalty for failing to deliver stock to the DTCC on time. Accordingly firms face no downside for failing. The solution then would be to impose a fine for each fail which will make the firms take notice and begin to tighten up the process.

Best.

Correct. What we found, going to guys in the industry, and this was years ago, is that each firm is loaded to the gills with fails . When you go to one, they'll tell you, "we're not buyin' Merrill in. Because if they do, they'll buy us in five times over.............."

And so it goes.

And what sort of laws are you breaking? You're basicall y having secondaries w/o shareholder approval. You have insider trading, you have fraud. Most situations will have commonalities and differences.


This is of course, not even mentioning the Sec Act of 34 which says, "......... trade must be settled promptly or reversed out or canceled." Prompt settlement.

 

[jem]

And what sort of laws are you breaking? You're basicall y having secondaries w/o shareholder approval.

That is an interesting take. Good point.

 

[flytiger]

Quote from jem:

And what sort of laws are you breaking? You're basicall y having secondaries w/o shareholder approval.

That is an interesting take. Good point.

Think about voting your proxy. We never could figure out how they pulled that off. TASER had 60mm outstanding, and 80 voted. But generally , it works like this:

The brokers control the voting proxy, When they get to 'the number', they stop counting.

What really amazes me, is these boards are filled with guys who scream and holler because the government wants to listen in on terrorists. It violates their constitutional rights. Yet they beat me up. My feeling is, is some towel head turns me into viseral matter, that pretty much fucks up my Bill of Rights.

What is this, then? Stealing, Fraud. Malicious destruction. Esurping Proxie votes. Breaking the Act of 34. Insider trading....... That's why CNBC had those guys on saying 'arrest them'. Interesting that while it was happening to me and the rest of America, they didn't care. Part their crease, and they're on fire.

Know what? Wrong is wrong. Simple as pie.

 

[Joab]

Quote from flytiger:

Only a fool would keep arguing about shorts, when we're talking 'naked shorts'.

So your saying it's alright for me too SS a stock if I still plan on holding it Long

WTF are you talking about!

The point being, Short Selling is American as Apple Pie and a very necessary element for a democratic market.

 

[flytiger]

Quote from Joab:

So your saying it's alright for me too SS a stock if I still plan on holding it Long

WTF are you talking about!

The point being, Short Selling is American as Apple Pie and a very necessary element for a democratic market.

Huh? How old are you?

I don't care if you hold it ten minutes, or ten seconds. BUT YOU HAVE TO GET A LEGIT BORROW FIRST!!!!! Got it there, Slick?

If you dn't get a borrow, or if you mark the ticket 'long' without being long, either creates a fail and violates the '34 Act.

 

[flytiger]

This guy makes some good points. CNBC in full retreat. And, where's Herb???? There's plenty more coming here:

http://www.deepcapture.com/a-scandal-unfolds-and-the-media-mob-scampers/

 

[flytiger]

Confirmed Herb is banished, and CNBC knows they have a serious problem, which should have been obvious anyway. Must be they've gotten some calls . This is going to be fun. I wanna see if they can shut Gasparino up. I doubt that. They'll have to fire him. And they will.

It will be interesting to see that changes. Notice, Cramer is Mr. Good guy, and he's getting more air (yuk.) But his ex- pal Herb is reportedly gone.

 

[Joab]

Quote from flytiger:

Huh? How old are you?

I don't care if you hold it ten minutes, or ten seconds. BUT YOU HAVE TO GET A LEGIT BORROW FIRST!!!!! Got it there, Slick?

If you dn't get a borrow, or if you mark the ticket 'long' without being long, either creates a fail and violates the '34 Act.

All firms will have inventory - just because it's not borrowed at time of sale doesn't make it illegal.

I'm 44 skippy and I've worked for brokers back rooms so let's not argue about something that you have no fucking clue about.

There are always loop holes and EVERY firm always covers it's ass.