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There are no new ideas

Location: Blogs Bob O'Brien's Sanity Check Blog    
Posted by:   bobo 7/31/2006 8:40 AM

A friend of mine sent me the following email - after reading about the ongoing travails of Patrick and his battle with miscreants on Wall Street, and reviewing some of the newer breaking news.

Apparently, it has all been thought and done before, and those who would enslave an entire nation have been at it for quite some time. This speaks to the human nature argument I frequently advance, wherein I indicate that there has always existed a predilection for a few, powerful members of the financial sector to co-opt the power elite, and bend the rule of law (or the application thereof) to suit their purpose.

Apparently I'm not alone in this paranoid delusion.

Here's the email, referencing a book that chronicles the American Revolution and the personalities who put their lives and fortunes on the line, and created the United States:

The paragraph from Founding Brothers by Joseph J. Ellis on page 138 reads as follows:

"As Jefferson returned to the US in 1790 he began to harbor the foreboding sense that the American Revolution, as he understood it, had been captured by alien forces.  As we have seen, the chief villain and core counterrevolutionary character in the Jefferson drama was Hamilton, and the most worrisome feature on the political landscape was Hamilton’s financial scheme, with its presumption of consolidated federal government possessing many of the powers over the states that  parliament had exercised over the colonies.  Under Hamilton’s diabolical leadership, the US was recreating the very political and economic institutions---the national bank became the most visible symbol of the accumulating corruption-----that the Revolution had been designed to destroy.  Jefferson developed a full-blooded conspiracy theory in which bankers, speculators, federal officeholders, and a small but powerful congregation of closet Tories permanently alienated from the agrarian majority (“They all live in cities” he wrote) had captured the meaning of the Revolution and were now proceeding to strangle it to death behind closed doors of investment houses and within the faraway corridors of the Federalist government in New York and Philadelphia."

Emphasis added.

So, even way back when, the notion that a small cadre from the market centers had conspired with bankers and "speculators" and elected officials, to fleece the rest of the country, held some sway with some pretty smart folks.

We hear that refrain echoed today, in the current NSS crisis, as well as in the growing protest over the obvious corruption and larceny exhibited by our government. Could it be that what is described as a paranoid conspiracy is actually an accurate description of the evil that some men of power and wealth will do? And have done, for as long as there has been a disconnect between labor, and the fruits thereof?

It is striking that Jefferson's observations strongly resemble the observations made by those sounding the alarm over the dangerous and improper intersection of money and power evidenced by Wall Street and the Beltway's cozy little relationship.

I guess some things transcend time. Rich white guys on the Eastern Seaboard scheming to rob the rest of the country.

Hmmmm.

I knew I'd heard that somewhere before...

Copyright ©2006 Bob O'Brien
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Comments (38)
Re: There are no new ideas By Niel Storts on 7/31/2006 11:22 AM
I told my daughter that if she ever joined the D.A.R. I'd disown her.
Re: There are no new ideas By InTheKnow on 7/31/2006 11:25 AM
1. The DTCC (We don't control the system!)
2. The SEC (We can't do nothin' about it!)
3. The Senate Banking Committee (We ain't gonna do nothin' about it!)
Re: There are no new ideas By davidn on 8/2/2006 10:07 AM
The disclosed numbers defy common sense. 1 share short? 2 shares short? Give me a break - many of these companies trade for less than a penny and have 100's of millions of shares out.

Short 1 share........193 companies
Short 2 shares.......101 companies
Short 3 shares.......61 companies
Short 4 shares.......42 companies
Short 5 shares.......28 companies
Short 6 shares.......33 companies
Short 7 shares.......26 companies
Short 8 shares.......20 companies
Short 9 shares.....19 companies
Short 10 - 100 shares...793 companies
Short 101 - 1000 shares...1318 companies
Short 1001 - 10,000 shares...1880 companies
Short 10,001 - 100,000 shares...1463 companies
Short 100,001 - 1,000,000 shares...737 companies
Short more than a million..............173 companies
Re: There are no new ideas By Little Bo peep on 8/2/2006 10:27 AM
davidn says:
Sounds suspicious.
I would say somebody wants to buy some time "BAD".
I would say that is 3 bags full. Full of SHIT.
Could we get a list of those companies 1 - 9 shares short? Comical. Now that is funny.
Who would short 1 share of a company?
LMAO. even after they steal my money.

Re: There are no new ideas By Patchie on 8/2/2006 11:27 AM
There are two things we know; Carol Remond has a bias and Carol Remond is unqualified to look into this subject matter.

Consider her comments regarding Global Links. 15 million shares requires a FTD of 75,000 shares. The short is less than 7,000. What defines the trading that created the remaining MINIMUM FTD's. Now take it one step further. Global Links has been listed on SHO since April 2005 and...Simpson still cannot get his 1.1 Million shares TODAY. That means the FTD's are over 1.1 Million for over 16 months. That is not a long fail and that is not a 144 sale so what is it.

Now take another SHO Stock. PayStar (PYST). Look at their reported short position. Can't find it? That is because it has NO REPORTED SHORTS. So how does a company with no shorts, and trades an average of 10 million shares a day(10-day average although the days are spikey), get on the SHO list?

These types of inconsistencies are all over this list. Take a look at Midway Airlines. They have millions of shorts and have been on SHO for over 300 days. Fortunately the SEC will be pulling the plug and all shorts and all FTD's will be free from any covering FOREVER. The SEC once again bailing out teh criminals.
Re: There are no new ideas By kevin on 8/2/2006 12:31 PM
Funny strategy for investors to hold certs.

http://www.post-gazette.com/pg/06214/710500-28.stm
Re: There are no new ideas By kevin on 8/2/2006 1:12 PM
You can get the list here.

Take a look at the ones that are 1 share. What the F?
Re: There are no new ideas By kevin on 8/2/2006 1:14 PM
Try here:

http://otcbb.com/asp/OTCE_Short_Interest.asp
Re: There are no new ideas By Disgusted on 8/2/2006 2:02 PM
..................absolutely disheartening to think how out of control this beast has become...........STOP THE MADNESS!
Re: There are no new ideas By oldfeller on 8/2/2006 8:33 PM
No new ideas? What about lethal injection? Beats the heck out of the chair. What about fighting cancer with radiation? No more mercury treatments for us. How about viagra? Time to short the ginseng growers. How about Head-On, (apply directly to the forehead, apply directly to the forehead, apply directly to the forehead)? Come on bunny we`re full of new ideas.
Re: There are no new ideas By Bear on 8/3/2006 5:59 AM
Conspiracy Theorists Come Up Short

News and Commentary
http://www.stockpatrol.com/article/key/NASDshortsellingreport
August 2 2006

Oliver Stone, please answer the courtesy phone. Conspiracy theorists may soon be mourning the demise of one of their pet plots – the notion that short sellers have been targeting, and destroying, dozens of obscure, penniless and nearly penniless companies that trade on the over-the-counter market. NASD is beginning to publish short interest information for OTC stocks, and the numbers suggest that the short-selling boogeyman is just Sasquatch in a pin-striped suit.

In recent years, promoters and proponents of these marginal companies have been trying to convince the public and potential investors that these tiny OTC companies have suffered at the hands of naked short-sellers who have conspired to drive share prices into the ground. For the uninitiated – short-sellers borrow shares of stock, then sell them, hoping that stock prices will sink and they can “repay” the borrowed shares by buying stock at a later date and a lower price.

Some OTC Bulletin Board and Pink Sheet companies have charged that illegal “naked” short sales are depressing the market. A short-sale is “naked” when the seller and has not arranged to borrow the shares. For the most part, only legitimate market-makers are permitted to engage in naked short sales.

While some companies may have been adversely affected by crooked short sellers, or fallen victim to aggressive, but legitimate, short selling, other factors are far more likely to damage OTC businesses. Unscrupulous promoters, greedy insiders, pump and dump schemes and shady secondary market trading tactics all have contributed to the dire state of these companies, most of which are under-capitalized and have minimal or no revenues. For those entities, the specter of naked short selling is a handy scapegoat – but it is hardly their biggest problem.

The impact of short selling on OTC companies should soon become evident. Effective July 2006, NASD expanded short interest reporting requirements to include OTC equity securities- including the OTC Bulletin Board and Pink Sheets. The initial report, for July 2006, reflects a far more modest level of short-selling than some conspiracy theorists may have anticipated. Take Nexia Holdings, Inc., (OTCBB: NEXH) whose CEO Richard Surber recently expressed his view that Nexia had been victimized by “abusive shorting practices.” According to NASD’s July report, the short position in Nexia was a mere 37 shares – an insignificant fraction of the almost 4 billion Nexia shares currently outstanding.

StockPatrol.com readers are already familiar with Surber, a penny stock promoter with connection to a series of troubled OTC companies. See Dark Dynamite Inc — Dancing In The Dark; Update: Dark Dynamite, Inc. - No Escape; Vinoble, Inc. - Trick or Treat in This Treasure Chest? ; and Update: Vector Holdings - Room at the Top.

NASD’s reports are unlikely to silence the conspiracy theorists, but investors will now have the ability to do their own research and verify claims of improper trading. And perhaps struggling OTC companies will focus on the source of their problems and stop handing out shares to unscrupulous promoters and shady financiers.

Remember, before you invest, investigate.




IF YOU HAVE QUESTIONS OR COMMENTS FOR STOCKPATROL.COM, CONTACT US AT editor@stockpatrol.com

http://www.stockpatrol.com/article/key/NASDshortsellingreport

Re: There are no new ideas By kevin on 8/3/2006 8:13 AM
It's a total scam. I can't believe they had the nerve to release the OTC list without a follow up "just kidding" press release.

Yep, one share short. No idea why you can't get your certificate after six months or why numbers come up short when you do a dividend.

Sorry, the SEC doesn't help in getting certs.

Has anyone seen "freedom to facism" yet on the federal reserve? It is playing here, but I want to see it.
Re: There are no new ideas By kevin on 8/3/2006 8:14 AM
The SEC has NO JURISDICTION over stock certificates according to their site.

"The actual transfer of securities is governed by state law, rather than the federal securities laws. The SEC seldom has any jurisdiction over these issues."

http://www.sec.gov/answers/lostcert.htm
Re: There are no new ideas By kevin on 8/3/2006 8:15 AM
It may be worth writing these guys about naked selling.

http://www.stai.org/index.php

Transfer agents have the most to lose.
Re: There are no new ideas By crstphr2 on 7/31/2006 12:11 PM
Rome fell
America will fall

Rome is a "different" Rome today.
America will be a "different" America.....and that's probably a good thing.
Re: There are no new ideas By Bear on 7/31/2006 12:15 PM
Last Updated: 7/29/2006 03:04 AM


Industry sues to block Utah securities law
Measure requires brokers to report any illegal naked short selling
By Steven Oberbeck
The Salt Lake Tribune
Salt Lake Tribune

The Securities Industry Association filed a federal lawsuit Friday to overturn a new Utah law requiring brokers to report any occurrence of an illegal trading practice known as naked short selling.
The association, which represents the nation's stock brokerages, argues the state is placing burdensome record-keeping requirements on brokerages that are different from federal law. And it argues the authority to place such requirements on brokerages rests with the U.S. Securities and Exchange Commission, not the state.
The law was strongly supported by Utah's Overstock.com Inc., a money-losing, Internet-based closeout retailer that has vocally complained that naked short selling has driven down the price of its shares by artificially creating more sellers than buyers.
"This is a sunshine bill that was meant simply to shed light on an abusive market practice," Overstock.com Chief Executive Officer Patrick Byrne said. "The fact that the brokerage industry is freaking out says a lot. Cockroaches are always afraid of the light."
Short selling is a legal practice in which a brokerages allows investors to borrow a company's stock on the hope its price will drop, so they can buy shares back later at a lower price. Once the shares are purchased, they are returned to the brokerage.
Naked short selling, which is illegal, takes place when a brokerage allows a investor to sell stock without first borrowing it. In market parlance the seller is "naked." The outcome of naked short selling is that it creates an artificially high volume of shares that are for sale, and that can drive down a company's share price.
With naked short selling, the transaction is never truly completed because the short seller doesn't really possess the stock that was sold. And that means they cannot deliver the shares to buyers - which in market parlance is called a "failure to deliver," or FTD.
Stock brokers argue that such failures to deliver can occur for a number of reasons and actually represent only a tiny fraction of the trades that take place on any given day in the stock market. And they maintain the problem corrects itself over time.
Utah Gov. Jon Huntsman Jr. signed the naked short selling bill into law in May after a special session of the Utah Legislature.
At the time he said it would make Utah a more attractive place for small and midsize companies that could be vulnerable to the predatory trading practice.
"We continue to feel we acted in the best interest of Utah businesses by adopting this law," said Mike Mower, Huntsman's deputy chief of staff. "It helps shine a spotlight on the challenges that companies face with naked short selling."
The lawsuit asks Salt Lake City's U.S. District Court to declare the Utah law invalid. It also is seeking a preliminary injunction to stop the law from taking effect on Oct. 1.
steve@sltrib.com

Re: There are no new ideas By rtway1 on 7/31/2006 12:20 PM
There is a law of nature and human behaior that Is indisputable as history it self. The pendelum theory that all things can go in a certain direction for only a sustained amount of time because it takes more energy at the top of the stroke to sustain it. Once the energy is lost for whatever reason the pendelum reverses direction and moves to the counter direction to again repeat the cycle. I think we are at the end of one cycle and the energy is running out. I hope it is soon.
Re: There are no new ideas By Mississipibluffs on 7/31/2006 12:36 PM
Rome fell, but its people had some really hardscrabble centuries afterward.

Oswald Spengler describes the cycles of empire.

"Der Untergang des Abendlandes" (Munich, 1918). Publ. in English as "The Decline of the West."
Re: There are no new ideas By ckza on 7/31/2006 2:15 PM
I don't know. I listened to Bush in Miami today and couldn't stop thinking, what planet does this "alien" reside on?

The "disconnect" for what I continue to observe in my local communities, as well as his "slick" loyalty toward the hispanic vote, made me want to vomit this morning.

Bobo, I sure do wish that the coaltiion maintains the necessary intellectual capacity to bring this scandal to justice. Otherwise, it will be a travesty if they're allowed to get away with the "butchering" of our nation's finances in order to benefit exclusively these rich, powerful, but highly influential thieves.

Unfortunately, I have my concerns whether simply voicing ones opinions surrounding facts via the web and ones political representatives will be enough.

Call in the Minute Men! Importantly, find a gadfly in the press corp.who is going to ask this Texas cowboy the "hard" questions in public, like, Mr. President, why do you continue to turn a blind eye towards the corruption in our U.S. Financial Markets that are placing all American Citizens at risk, at the same time that your appointed Chairman at the S.E.C. continues to give lip service to these grave issues all while miscreants continue to lather, rinse, repeat......?????
Re: There are no new ideas By smuopr8r on 7/31/2006 4:58 PM
Saw a mock debate done in 2000 between Jefferson and Hamilton the other day on PBS. They were polar opposites in nearly every way and apparently didn't care much for one another. I liken Hamilton to an early Nazi. Brash and egotistical, he had the cahones to set up the National Bank, but his ideas on republican democracy left much to be desired. He believed the common man was simply incapable of deciding what was best for the country, and that a small, wealthy, educated few should be responsible for making all the decisions.

Guess he just thought he was being practical when he set up a financial system with no intention of institutionalizing transparency. Kinda get the same impression when the topic of regulating hedgefunds is discussed by the Senate Banking Committee today. Of course they know better than I do about such matters, right?

Trust, but verify, then elect somebody else.
Re: There are no new ideas By rtway1 on 7/31/2006 5:03 PM
I doubt that 99% of the morons in the press corps. understand anything about the Wall St. world and if they did they are already beholding to the powers on Wall St. therefore no reporter is ever going to approach Bush on these issues and he knows it. Anything related to finances will be pushed off to Cox or Paulson which means nothing will get answered unless it benefits the BD,s.
Re: There are no new ideas By n-tres-ted on 7/31/2006 7:31 PM
Bobo,

No doubt there were swindlers among those who engaged in securities trading in the earliest days of Wall Street. The outstanding biography of Alexander Hamilton by Ron Chernow is a good place to go to understand some of the details. I've come to believe that Jefferson spun his conspiracy to suit his own political purposes that involved getting support from southern states, including Virginia, and aligning the country with France rather than England. Much of this was done to counter the polictical leadership of Hamilton, centered in New York, and who favored Engllish political principles (John Locke, et al.). When Jefferson was elected president, he ordered his secretary of the treasury to give the highest priority to a complete audit of Hamilton's actons in office in hopes of finding scandalous fraud. After a prol9onged period with no report of progress from his treasury secretary, Jefferson inquired and was informed that Hamilton's practices were not only honest in every respect but also informed by the highest intellectual insight. It was Jefferson, not Hamilton, who was a spendthrift living on inherited wealth his entire life. Hamilton, on the other hand spent most of his life in government service (military or appointed office) other than the time he spent as a working lawyer supporting his large family. Hamilton did marry well, but supported his family from his own earnings. Unfortunately, he was victim of at least one swindler who absconded with corporate funds of a venture Hamilton helped promote.
Re: There are no new ideas By bobo on 7/31/2006 8:12 PM
Perhaps. There are books available that portray Milken as an innocent victim of a pernicious and vindictive system. There's nothing wrong with living on inherited wealth - I would have celebrated it if my parents had left me big piles of money.

My point is simply that nothing is ever that clear, but that the recurring theme of a NY-centric scamming of the rest of the nation runs at least 200+ years in our history. One can attack the veracity of the theorist, but it is undeniable that the financial centers have long bred those whose worth isn't created from their labor, but rather through trading chunks of the labor of others.
Re: There are no new ideas By anon on 8/1/2006 5:06 AM
The new Steinhardt / Steinberg endeavor.

www.wisdomtree.com
Re: There are no new ideas By Little Bo peep on 8/1/2006 5:18 AM
uh oh.

No more hiding offshore huh?


http://www.rawstory.com/news/2006/Tax_cheating_by_super_rich_out_0731.html

http://today.reuters.com/stocks/QuoteCompanyNewsArticle.aspx?view=CN&storyID=2006-08-01T020021Z_01_N31359872_RTRIDST_0_CONGRESS-TAXHAVENS.XML&rpc=66
Re: There are no new ideas By Little Bo peep on 8/1/2006 5:44 AM
oops!

He instructed his clients be careful about privacy and avoid a paper trail connecting them to their offshore arrangements, but Turpen's own computer held documents about many clients that fell into IRS hands under a search warrant.

One of his clients told subcommittee investigators he could only respond, "You idiot! That is exactly what you told me never to do."


http://www.forbes.com/entrepreneurs/feeds/ap/2006/08/01/ap2917749.html
Re: There are no new ideas By Little Bo peep on 8/1/2006 6:48 AM
The "BRIGHT" lights are reflecting off those "tin foil hats".

By Steve Goldstein
Last Update: 8:35 AM ET Aug 1, 2006


LONDON (MarketWatch) -- The U.K. Financial Services Authority on Tuesday fined GLG Partners LP and its former managing director, Philippe Jabre, 750,000 pounds ($1.4 million) each for market abuse and breaching FSA principles. The FSA alleged Jabre was given restricted information from Goldman Sachs about Sumitomo Mitsui Financial Group issuing a ocnvertible bond, but breached the restriction by shorting selling $16 million of the shares. Jabre last week withdrew his appeal of the fine, originally established by the regulator in February.
Re: There are no new ideas By HelpMrWizzard on 8/1/2006 7:27 AM
Conversion Solutions, Inc. Releases Public Warning to www.our-street.com and www.stocklemon.com Owners; Conversion Solutions, Inc. Updates Shareholders

Press Release Source: Conversion Solutions, Inc.

Conversion Solutions, Inc. Releases Public Warning to www.our-street.com and www.stocklemon.com Owners
Wednesday July 26, 2:02 pm ET

KENNESAW, Ga., July 26 /PRNewswire-FirstCall/ -- Conversion Solutions, Inc. (OTC: CVSU - News), (OTC Bulletin Board: FHAL - News), a Delaware Corporation, releases this warning to the registered owners of www.our-street.com and www.stocklemon.com.

We hereby issue this public order for you to cease and desist and retract the false and misleading information that you have posted about Conversion Solutions, Inc. and The Fronthaul Group or legal action is forthcoming.

We feel that you have violated the telecommunications statute which prohibits anyone from using a telephone or a telecommunications device (includes any device or software that can be used to originate telecommunications or other types of communications that are transmitted, in whole or in part, by the Internet (as such term is defined in section 1104 of the Internet Tax Freedom Act (47 U.S.C. 151 note)) "without disclosing of his identity and with intent to annoy, abuse, threaten, or harass any person."

If anyone feels that they have been persuaded by the influence of www.our- street.com or www.stocklemon.com not to invest into our company or to sell and would like to join a legal suit to recoup their losses, please send an email with your complete contact information to stopthefraud@cvsu.us .

"It is time to stop the fraudulent, false and misleading statements posted on public websites about public officials, companies and their officers. These people need to be hit where it hurts, in the pocket," stated CEO, Rufus Paul Harris.

About Conversion Solutions, Inc.

CVSU is a diversified holdings corporation, which was formed to originate, fund and source funding for asset-based transactions in the private market. CVSU's main service will be to acquire, fund and provide insurance to target companies in the currently underserved $15,000,000 to $100,000,000 asset finance market. Our funding will enable our businesses to compete more effectively, improve operations and increase value. CVSU is headquartered in Kennesaw, Georgia, a suburb of Atlanta. For more information, please visit us at www.cvsu.us.

--------------------------------------------------------------------------------
Source: Conversion Solutions, Inc.

http://biz.yahoo.com/prnews/060726/clw058.html?.v=59

=====

Press Release Source: Conversion Solutions, Inc.

Conversion Solutions, Inc. Updates Shareholders
Monday July 31, 11:45 pm ET

KENNESAW, Ga., July 31 /PRNewswire-FirstCall/ -- Conversion Solutions, Inc. (OTC Bulletin Board: FHAL - News), a Delaware Corporation, updates its shareholders to the effect that, the Fronthaul Group has received a new CUSIP number from Standard and Poors' CUSIP Bureau. The old CUSIP number of 361060 20 5 was replaced by CUSIP number 35904V 10 4, the ISIN number is US 35904v1044. Additionally, a corporate name change is currently under discussion with NASDAQ officials, there may need to be a trading acronym change, in any event the company will update shareholders as the discussions progress.

"I would like to report that, 104 shareholders have reported selling their company stock due to the false and misleading information posted on internet web-sites; www.our-street.com or www.stocklemon.com. Our attorneys will be in contact with these individuals shortly. They will be providing them with an affidavit package that will require their formal statements regarding the matter," stated CEO, Rufus Paul Harris and he goes onto say, "If anyone feels that they have been persuaded, or influenced in any way, to sell their company stock by information provided by person(s) on either of these two sites, or any other such site that we may not be aware of at this date, and would like to join a legal action to recoup their losses, then please send an email to stopthefraud@cvsu.us. Please include your complete contact information including telephone number."

About Conversion Solutions, Inc

CVSU is a diversified holdings corporation, which was formed to originate, fund and source funding for asset-based transactions in the private market. CVSU's primary service will be to acquire, fund and provide insurance coverage to target companies, in the currently under served $15,000,000 to $100,000,000 asset finance market. These services will enable our client businesses to compete more effectively, improve operations and increase their value. CVSU is headquartered in Kennesaw, Georgia, a suburb of Atlanta. For more information, please visit us at www.cvsu.us.

--------------------------------------------------------------------------------
Source: Conversion Solutions, Inc.

http://biz.yahoo.com/prnews/060731/nym220.html?.v=36
Re: There are no new ideas By HelpMrWizzard on 8/1/2006 7:49 AM
Conversion Solutions, Inc. Updates Shareholders
Monday July 31, 11:45 pm ET


KENNESAW, Ga., July 31 /PRNewswire-FirstCall/ -- Conversion Solutions, Inc. (OTC Bulletin Board: FHAL - News), a Delaware Corporation, updates its shareholders to the effect that, the Fronthaul Group has received a new CUSIP number from Standard and Poors' CUSIP Bureau. The old CUSIP number of 361060 20 5 was replaced by CUSIP number 35904V 10 4, the ISIN number is US 35904v1044. Additionally, a corporate name change is currently under discussion with NASDAQ officials, there may need to be a trading acronym change, in any event the company will update shareholders as the discussions progress.

"I would like to report that, 104 shareholders have reported selling their company stock due to the false and misleading information posted on internet web-sites; www.our-street.com or www.stocklemon.com. Our attorneys will be in contact with these individuals shortly. They will be providing them with an affidavit package that will require their formal statements regarding the matter," stated CEO, Rufus Paul Harris and he goes onto say, "If anyone feels that they have been persuaded, or influenced in any way, to sell their company stock by information provided by person(s) on either of these two sites, or any other such site that we may not be aware of at this date, and would like to join a legal action to recoup their losses, then please send an email to stopthefraud@cvsu.us. Please include your complete contact information including telephone number."

About Conversion Solutions, Inc

CVSU is a diversified holdings corporation, which was formed to originate, fund and source funding for asset-based transactions in the private market. CVSU's primary service will be to acquire, fund and provide insurance coverage to target companies, in the currently under served $15,000,000 to $100,000,000 asset finance market. These services will enable our client businesses to compete more effectively, improve operations and increase their value. CVSU is headquartered in Kennesaw, Georgia, a suburb of Atlanta. For more information, please visit us at www.cvsu.us.




--------------------------------------------------------------------------------
Source: Conversion Solutions, Inc.
Re: There are no new ideas By n-tres-ted on 8/1/2006 7:50 AM
Yes, a more complete picture of Jefferson is better than isolated clips. During the Revolutionary War, Jefferson did not serve in the Continental Army. As governor of Virginia, he abandoned the state capitol to burning by the British. At the time, Hamilton was Washington's top aide, finally returning to a field command during the final campaign that led to Cornwallis' surrender at Yorktown.

As President Washington's first secretary of state, Jefferson used government funds to support a newspaper publisher for the purpose of undercutting both Washiington and Hamilton politically. Concurrently, Jefferson went against Washington's policy of keeping the USA clear of entanglement in the European war between the British and the French, assisting a French campaign to spur American popular support for entering the war on the side of Napoleon even though the USA was essentially without naval or land forces. This was at a time when the French Revolution had long since demonstrated the extreme level of violence that distinguished it from the American Revolution.

All of this is somewhat beside the point of whether there was financial scandal in the early securities markets. There was, to some degree. But the more I have learned of Jefferson, the less I look to him for statements of facts or principles.
Re: There are no new ideas By Little Bo peep on 8/1/2006 9:11 AM
Anyone explain how bid rigging works?

http://today.reuters.com/investing/financeArticle.aspx?type=governmentFilingsNews&storyID=2006-08-01T154657Z_01_N01315295_RTRIDST_0_FINANCIAL-STPAUL-SETTLEMENT-UPDATE-2.XML
Re: There are no new ideas By robelita on 8/1/2006 8:03 PM
Ahhh-nothing like a hasty getaway to get the juices flowing again. Caught up on my reading here and poised to interject with sharpened barbs.

HASSENPFEFFER
Re: There are no new ideas By Sean on 8/1/2006 9:20 PM
A little off topic. I ordered Certs for a couple of OTCBB stocks that I own from TDAmeritrade..I was told it now takes 6 to 8 weeks to deliver them to me. I called the T/A and they said they turn the request around in 3 days. Why the other 7 weeks? I wonder..maybe they have to located them huh?? I asked my broker ifiit was OK for me to wait 6 to 8 weeks to pay for my trade. He smiled and said he does not make the rules its the Company. Thought that this would make some smile.
Re: There are no new ideas By Wicked World on 8/1/2006 11:41 PM
Sean,

Please report back when they come in. Maybe your broker was jusst allow some wiggle room.

Lol.

Re: There are no new ideas By Bear on 8/2/2006 5:54 AM
DJ IN THE MONEY: OTC Short Data Don't Back Abuse Claims
Tuesday , August 01, 2006 11:59 ET

By Carol S. Remond
A Dow Jones Newswires Column

NEW YORK (Dow Jones)--The NASD turned on the lights on the often nebulous world of the over-the-counter bulletin board last week when it started reporting short interest in those securities.

The data add transparency to shares of small capitalization companies traded on the OTCBB and Pink Sheets, but it has also led to a significant revelation; short selling is relatively limited for most companies.

Especially so for those companies which over the years have alleged a short selling conspiracy to keep their stock prices artificially depressed.

Insiders of small companies trading on the OTCBB and Pink Sheets have long complained that the shares of their companies unduly suffer from abusive short selling. Some of these companies have brought lawsuits and publicly challenged Wall Street firms and regulators, which they accuse of complicity with short sellers. These suits and the publicity surrounding them have sometimes attracted investors hoping that a short squeeze could push prices higher.

Turns out, those short squeezes are unlikely.

"The distribution of unregistered securities via the secondary market, not abusive market-maker short selling is the problem," Cromwell Coulson, chief executive of Pink Sheets LLC, said in a telephone interview.

Coulson petitioned the Securities and Exchange Commission in January 2005 to require short interest reporting of all OTCBB securities, similarly to the monthly data already reported by the NASDAQ and New York Stock Exchange.

Coulson highlighted in his letter to the SEC that although companies often blame naked short selling for a market decline, other activities are responsible for the price drop. Among those activities, Coulson said, is selling by people who purchased stock in private placements, sometimes ahead of the registration of this stock.

"The lack of short interest reporting in OTC equity securities causes confusion on the part of investors and issuers, and inhibits proper regulatory oversight," Coulson wrote in his letter.

Cameron Funkhouser, senior vice president for market regulation at the NASD, said that the new data will provide much needed transparency. "This is a positive event, particularly in the OTC arena where there is a history of disclosure vagueness," he said.

Short sellers typically borrow shares to sell them, hoping that they will be able to replace them with shares bought at a lower price later. Trading without a borrowing agreement is called naked short selling. It's illegal for most investors, but legal for firms that make markets in stocks by bringing liquidity to the market.

Big Gap Between Hype And Reality

While a number of companies have over the years alleged that their stocks have improperly been driven down by abusive short selling, the newly released data tell another story.

Take Jag Media Holdings Inc. (JAGH), a company that became a trailblazer when it unsuccessfully tried to exit the global clearing system managed by the Depository Trust and Clearing Corporation, or DTCC, and subsequently sued more than 100 brokerage firms in the U.S. District Court for the Southern District of Texas. It accused the financial institutions of market manipulation and securities fraud. That suit was dismissed in 2004 after a federal judge found that Jag Media didn't have a viable claim, but the company remains a poster child for those who believe that abusive short selling is a plague that needs to be eradicated.

Yet as of July 25, only 15,256 shares of Jag Media were sold short - less than 1% of its outstanding common stock. It would take less than a day to cover these positions. Jag Media didn't immediately respond to two telephone messages.

What about another, more recent "Get Shorty" candidate, Nexia Holdings Inc. (NEXH). The Salt Lake City real estate company informed investors on July 26, shortly before the NASD short selling data became public, that it believed that it had fallen victim to abusive short selling practices "like so many other micro cap companies."

But according to the data collected by NASD, there were a mere 37 shares of Nexia sold short as of July 25, which given the company's 3.9 billion shares outstanding, should hardly affect its stock price.

Nexia Chief Executive Richard Surber wasn't immediately available to comment.

And what about Universal Express Inc. (USXP), a Florida luggage delivery company which in 2004 sued the SEC in an attempt to prevent the commission from filing charges against it. The company claims that it was victimized by naked short selling. The SEC later filed charges against the company and some of its insiders, alleging that they issued more than 500 million shares illegally in a period of three years.

NASD's data show 1.9 million shares of Universal Express sold short as of July 25. Given Universal Express' 8 billion-plus shares outstanding and average daily volume of more than 30 million shares on most days, that also shouldn't present any unbearable weight on the company's stock price.

Universal Express' general counsel, Chris Gunderson, wasn't immediately available to comment.

Same goes for Global Links Corp. (GLLC), a development stage company that attracted much attention last year when it was used as an example of illegal short selling by U.S. Senator Robert Bennett. R-Utah, during a Senate hearing on a new SEC short selling rule dubbed REG SHO.

According to data collected by NASD, there were 6,851 shares of Global Links sold short as of July 25, less than 1% of Global Links' 15 million common shares outstanding. It would take less than one day to cover these short positions.

Nobody answered the telephone at the number listed on Global Links' last quarterly report filed with the SEC. An email inquiring about the short selling data released by NASD was not immediately answered by the Las Vegas company.

And when it comes to Vyta Corp. (VYTC), previously known as Nanopierce Technologies Inc., the finding is the same. Despite the company's repeated claims that its stock has been abused by short sellers, there were only 1,359 shares of Vyta sold short as of July 25, shares that could be covered in less than one day.

Like Jag Media, Nanopierce filed suit to make its claim of abusive short selling. Nanopierce is appealing a federal judge's decision to dismiss its complaint against DTCC. The judge in that case found that Nanopierce's claim that DTCC's stock-borrow program facilitated the naked short selling of the company's shares is preempted by federal law.

A person answering the telephone at Vyta's Colorado office said nobody would be available to talk about the short selling data for a week.

NASD's Funkhouser said that it will take some time to review the short selling data received from NASD member firms. "We believe the data is accurate, but it will take a few months to identify potential gaps," he said.

The first batch of short selling on the OTC contained data on almost 7,000 securities, but in reality there are tens of thousands of OTC symbols out there, some of which are dormant.

Although the data may not be complete, it may not be too early for investors to take notice: Before taking a company's claim of abusive short selling at face value, check the trading data before betting for that magical short squeeze.

(Carol S. Remond is an award-winning columnist who won a Gerald Loeb Award in 2005 for best news service content with "Exposing Small-Cap fraud," a series of articles that described how three small companies unscrupulously pumped up their stocks.)

- By Carol S. Remond; Dow Jones Newswires; 201-938- 2074; carol.remond@dowjones.com
Re: There are no new ideas By crstphr2 on 8/2/2006 8:10 AM
Carol "I love Rocker" Remond.

LMFAO!!!
Re: There are no new ideas By davidn on 8/2/2006 9:49 AM
What does this mean?:

""The distribution of unregistered securities via the secondary market, not abusive market-maker short selling is the problem," Cromwell Coulson, chief executive of Pink Sheets LLC, said in a telephone interview."

What is the secondary market? For it to impact price, it would have to be sold in the main market.

Is he saying that when an American purchases shares, if they come from Berlin or Canada or from x-clearing, they don't count as IOU's because that is the "secondary market"?

What about the market maker exemption? Your telling me that market makers are so in love with OTC companies that they only ever go long?

Give me a break, Carol Redmond alias Carol Remond and tell your bosses at Dow Jones and thestreet.com that we're not stupid.
Re: There are no new ideas By davidn on 8/2/2006 10:05 AM
Isn't it funny that it is really uncommon for an OTC company to have 0 shares short, but incredibly common to have less than 1,000 shares short?

Given many of these companies trade for less than $.01, that is a $10 or less short position. Sounds suspicious.

The following comment is telling. I think the data is bull. Why would it take a few months to determine that? Do a spot check on a suspicious brokerage next week and by the end of the week you should know if that brokerage is lying. Do several a week and you'd know pretty quickly. Several months sounds like one more in the regulators' history of stalling any regulation.

"NASD's Funkhouser said that it will take some time to review the short selling data received from NASD member firms. "We believe the data is accurate, but it will take a few months to identify potential gaps," he said."

For those that don't know, NASD stands for the national association of securities dealers - ie. they are the US brokerages that are benefiting from selling you IOU's.

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