(Thanks to RSB and I_quit for the tips...)
In 2004, one of the more prominent transfer agents published a typical newsletter/update for their customers. This one is taken from Continental's September, 2004 pages, and is noteworthy because it discusses, in rather mundane tones, things like over-voting problems, the SEC's decision to ban companies from being able to exit the DTCC system if they think they are getting screwed, the dangers of de-materialization, the considerable problem of stock manipulation using naked short selling, etc.
All there, in black and white.
From an industry insider - the transfer agents.
For all the wiseass pundits, the Mark Cubans and Jim Cramers of the world, who opine glibly that there is no problem, I would ask the following question: Are you stupid, ignorant, or dishonest?
Because apparently those closest to the DTCC and the corporations, who are the most immersed in the clearing and settlement system, fully appreciate that there are large problems in the system, and discuss it at length in their materials.
So are they nutty too? Just making it all up? Hallucinating?
I ran across a nice work that summarizes the treatment that naked short selling and stock manipulation abuses are receiving at the hands of the press, the pundits, and the regulators. It's a good read, and many of the tactics you see will be eerily familiar. Titled, "Twenty-Five Ways To Suppress The Truth - The Rules Of Disinformation" it describes in detail the techniques we see on a daily basis from the "there is no problem" gang.
I continue to extend an open invitation to any and all of these "authorities" to come to the blog and discuss their views, or to do a blogcast debate - we will have blogcasting in the next week or so, and I will be doing a weekly or so talk show/monologue/interview program, just to keep things interesting.
As to this new site, traffic is increasing daily, we are climbing in the ratings, and the story is getting wider exposure. Folks, if you want to help, again, go to other blogs, message boards, and forums, and spread the word about the site.
To all the established media platforms, I have a newsflash for you: you can't stuff this genie back into the bottle, and we don't need your channel to get the word out - people are listening and reading and learning, and you are superfluous to that process.
Your conceit that if you don't discuss it, it doesn't exist, is over. O-V-E-R. It does. And we are talking about it. And people are figuring it out.
Deal with it.