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Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors

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Posted by:   bobo 8/4/2006 4:54 AM

Take a few minutes, and read this article from Bloomberg, on NSS.

All in all, very fair and balanced.

Why is this significant? Because Bloomberg is widely followed, and this should go a long way to ending the facile dismissals that are the stock in trade of those who deny there is any problem.

I'm running for a plane, so have little time to cover it, but the article speaks for itself. It covers the damage that's done, and gives equal time to those who (we believe) disingeniously skew the numbers ("trades" versus "shares," choosing one period where fails declined versus a later when they've increased, etc.) to make the problem appear minor, and those who believe the problem is massive.

All in all a good piece, and here's to hoping that we see more like it. I loved their coverage of the voting fraud issue (a directly-related problem) and this is yet another step in the right direction.

Bravo, Blomberg.
Copyright ©2006 Bob O'Brien
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Comments (40)
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By brent on 8/4/2006 12:44 PM
Funny to see the name Randolph Pace. I was told several years ago that he is one of the key guys behind rampant naked shorting of OTC's and Pinks and he did it from Europe (because his NY boilerroom got closed down).

It's not complicated. If you can't pump and dump, then short and distort.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By n-tres-ted on 8/4/2006 6:18 AM
Thanks, Bobo. It is the most comprehensive coverage I've seen in major media. Hopefully, this will be the first serious coverage in a long line that will press the SEC and DOJ towards enforcement of the law. However, even though this is good coverage, it makes NSS appear to be okay (in fact, legal) unless a manipulative intent is proved, as if that is a major obstacle in the wholesale NSS by the hedge funds and prime brokers. That should not be a difficult problem from a legal viewpoint, I would think.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By Clearthinker on 8/4/2006 6:36 AM
what does it take for those w˙o have been denying, stalling, ridiculing to stop?.....Answer, a MAJOR enforcement of our settlement laws and a complete audit of ex-clearing...nothing less....it's time to show everyone's cards, we've been sitting at the table long enough
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By Niel Storts on 8/5/2006 10:21 AM
"Bob" will check in soon. This will cease. Back on topic, the article was negated by the assertion that most naked shorting was legal. Oh well, any ammount of attention will help.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By Little Bo peep on 8/5/2006 4:49 PM
The SEC is walking a tight rope. Trying to avoid panic.
Any print pertaining to the Naked short selling fraud is good.
The fun part about reading the printed news is finding out who is telling the truth and who is telling a few little white lies.

My sheep and all of us poor Americans to dumb to vote.
Shucks we thought lobby meant something like a waiting area.

Now, you know we believe everything we see in the movies and read in the newspaper. NOT.

You mean people bribe politicians to get what they want and say oh if you are interested we will make your investments grow. Trust us, we will take good care of you, and your money.

Who would have ever thought that. duh.

Mister/Madame Bear,
For shits and giggles,
Could you tell us who the secret board members are for intelsat?
Mr John Macks connection and what companies he is or has been on the boards for?
Also, when and what he knew about the future technology of telecom, satellite and internet?
You seem to have many answers. Got those?
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By Little Bo peep on 8/5/2006 5:43 PM
Custer Battles huh?

He was just lucky getting such large contracts huh?
Who gave the The no-bid contract was worth $16 million?

Who, what, where and how can my sheep and I sign up for a 16
million no bid contract? Please Advise. Thank you.

Prosecutor Looks Into Possible Money Laundering After $10 Million Fraud Verdict

http://www.washingtonpost.com/wp-dyn/content/article/2006/08/04/AR2006080401456.html?nav=rss_print/asection

http://en.wikipedia.org/wiki/Custer_Battles
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By History In The Making on 8/5/2006 5:56 PM
http://www.newyorker.com/fact/content/articles/060731fa_fact
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By browntrout on 8/5/2006 6:16 PM
This is choice. Used to be you could be a convicted felon and run a hedge fund. I wonder if that still holds? Check out this: http://biz.yahoo.com/weekend/hedge_1.html
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By Little Bo peep on 8/5/2006 6:23 PM
gregcable2002 GREAT CATCH .

Poor Elizabeth. That is funny.
I sure hope she doesn't get in trouble for being honest.

The board must be celebrating the weekend.
The post are out of order on this end.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By bobo on 8/5/2006 9:42 PM
I'm back.

Bear? You are done here. 8 posts I now have to delete being off topic, along with a round of responses. I warned you about hijacking the thread. Won't happen.

To summarize: convicted stock fraudster writes article declaring SEC perspective is correct. Blah blah. Dave Path, blah blah. Completely off topic of the current article being discussed.

Bear? Sweetie? I say this with love. Read Strunk and White, especially "eliminate unnecessary words" - and then consider what I am doing to be, "eliminate unnecessary posts."

Hope you had a fun time while the cat was away...
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By Little Bo peep on 8/6/2006 10:53 AM
Sometimes you think you lost your lamb, who knows he may bring a flock of sheep back to you one day.

Does dark have a speed?

http://www.washingtonpost.com/wp-dyn/content/article/2006/08/05/AR2006080500823.html?nav=rss_print/asection
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By Old Duffer on 8/7/2006 7:11 AM
Speaking of names of those to hang, Patchie, wonder if you know of a Andrew Goldberg of the UK?

My take was that he runs a business to bash stocks for hire. The thing is one mention of his name to a poster on RagingBull three years ago got me banned from that, imho, basher owned site for life.....Almost instantly.

By the way the poster I asked about Andrew Goldberg went by the alias of DueDillinger, who I suspected was Andrew Goldberg.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By brent on 8/7/2006 7:12 AM
I keep asking myself why this site isn't the topic of discussion in every thread of every company that is being attacked?

It is common for small companies to press release that they are dropping the pinks to go for the more regulated Pinks as if the CEO's believe their problems are caused by their lack of disclosure.

"Once we disclose what a great company we are, the SEC will stop the bad guys from counterfeiting our stock!"

Where are all these people? How is it possible I am the second post today?

Trillions of dollars stolen from millions of shareholders and we get two posts today.

It's cathartic to post, but I'm about ready to see some change.

Actions speak louder than words and I'm sick of waiting through comment periods that accomplish nothing.

I'm ready for some action and don't want to work to THEIR schedule.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By check it out on 8/7/2006 4:35 PM
Is the deal here? Is the OTCBB short interest just for 1 day? Or is it all volume for the entire month up till the 15th?

I was always under the impression that short interest reporting for the bigger exchanges was volume for the whole month and not just for one day.

Does buyins have it wrong or right? 1 day times 20 trading days and that is short volume for the month?

Is this is how many shares are shorted as of July 15th? Or how many shares went short on 1 day of the month? Short interest for the month or the day?

Is this is how many shares are shorted as of July 15?
Or only short volume on 1 day on July 15th?

As far as days to cover it just means if they bought every one of the shares that were short on an average days volume, it would take this many (x) days to cover. It seems to round anything under 1 to 1 and anything over 1000 to 999.99

(OCAI) Short shares = 6,826,222 Avg daily volume = 196,680
"Days to cover" = 6826222/196680 = 34.7
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By i forgot this part on 8/7/2006 5:11 PM
www.buyins.net is reiterating coverage of NewMarket Technology, Inc. (BB:NMKT) after releasing the latest short sale data to July 2006. From January 2005 to July 2006 approximately 484 million total aggregate shares of NMKT have traded for a total dollar value of nearly $210.8 million. The total aggregate number of shares shorted in this time period is approximately 37.3 million shares. According to July 10th Total Short Interest, there are 82,508 shares that have been shorted, but not yet covered. Because brokerage firms are only required to disclose what they are short on one day of the month, the average amount of Total Short Volume in stocks is approximately 20 times (20 trading days vs. 1 trading day) the disclosed Total Short Interest figure. In some cases, BUYINS.NET has seen Total Short Volume higher by as much as 100 times the disclosed increase in Total Short Interest for that given month. The NMKT SqueezeTrigger price of $0.44 is the volume weighted average short price of all short selling in NMKT. A short squeeze is expected to begin when shares of NMKT close above $0.44. To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By zziipp439 on 9/7/2006 8:04 AM
Bobo, PLEASE explain where proxy votes go from all those phantom shares at an annual meeting of shareholders? When short interest gets up to about 25% or more isn't there a real chance of more votes cast than actual-in-fact shares?? Who actually tallies the vote and what do they do when the votes cast exceed the shares outstanding? Anyone know how they cover this up? Is it the transfer agent who recieves the votes directly form the share holders, or does the transfer agent get a vote tallie from the brokers who sent out the proxy votes to their clients? Maybe the transfer agent is not even involved? How does this work?

Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By Patchie on 8/4/2006 7:05 AM
People,

Almost daily we hear about how the SEC has found another villainous company who lied about something. The SEC strong-arms an investigation and forces the corporations to make material disclosures of these investigations before guilt is ever proven. All the while the SEC claims they will not confirm or deny the investigation even exists. But the investigation is all about the perception of the accuracy of publicly disseminated information.

So how is it the SEC presents to the public meaningless data of the poorest of quality?

According to the SEC public proposal on Regulation SHO the effectiveness of SHO has been deemed a success.

"We have received preliminary data that indicates that Regulation SHO appears to be significantly reducing fails to deliver without disruption to the market."18

18.

For example, in comparing a period prior to the effectiveness of the current rule (April 1, 2004 to December 31, 2004) to a period following the effective date of the current rule (January 1, 2005 to May 31, 2006) for all stocks with aggregate fails to deliver of 10,000 shares or more as reported by NSCC:
. the average daily aggregate fails to deliver declined by 34.0%;
. the average daily number of securities with aggregate fails for at least 10,000 shares declined by 6.5%;
. the average daily number of fails to deliver positions declined by 15.3%;
. the average age of a fail position declined by 13.4%;
. the average daily number of threshold securities declined by 38.2%; and
. the average daily fails of threshold securities declined by 52.4%.

Fails to deliver in the six securities that persisted on the threshold list from January 10, 2005 through May 31,2006 declined by 68.6%.

But how accurate is this information?

According to data acquired under the FOIA, I was able to identify the reported Fails in the system leading into SHO as well as several months past SHO. In June 2004 the average daily FTD's in the market was 613 Million shares. By December 2004 it became 781 Million shares and in January 2005 the average fails was recorded at 672 Million shares reducing to 524 Million by April 2005.

So, how is it that Bloomberg has acquired additional fails data leading into 2006 that identify total fails exceeding 750 Million shares in the February/March 2006 time period and yet the SEC is documenting this as a significant reduction to the public? Certainly, based on the volatility the raw data provides, any reasonable statistician would recognize that the SEC must trend the data and not simply utilize the best looking snapshot to disseminate the point. If two months prior to the SEC's evaluation ended (May 31, 2006) the level of fails in the system was averaging more than any point after the law was originally put into place you clearly have a problem and not a success story.

From Today's Bloomberg:

"On an average day in March, those unsettled trades amounted to more than 750 million shares in almost 2,700 stocks, exchange- traded funds and other securities, according to Depository Trust & Clearing data obtained from the SEC through Freedom of Information Act requests."

and....

For the first year after the restrictions took effect in January 2005, the markets' lists suggest that Reg SHO cut down potential naked shorting. This year, the number of possible naked short sales has increased.

From February through May, the average lists reported more stocks than in any month since August 2005. The number of new companies that surpassed Reg SHO's thresholds for the first time also jumped in February, to an average of 18.5 from as few as 15 in October 2005.

Depository Trust & Clearing's statistics on total failed deliveries of shares to buyers show a similar trajectory: In February and March, more than 700 million shares that were sold were not delivered to buyers on an average day, the highest levels since December 2004, the month before Reg SHO took effect.

The SEC is as obligated, if not more obligated, to disseminate accurate information to the public. Certainly this data acquired by myself and Bloomberg suggests otherwise relating to this subject matter. Why is that? Why has the SEC gone to such great lengths to mislead the public about what is happening behind the scenes in our public markets? Is the SEC continuing to mislead the oversight committees of Congress, as they have done in the past as evidence has shown, to downplay this issue?

These fails and this problem is a cash cow to Wall Street Institutions. As unsuspecting investors purchase air, Wall Street is booking commissions and fees. The SEC is protecting this fraud at all levels and that protection must stop. It is criminal to have a Federal Agency disseminate false and misleading information to the public in order to protect this fraud.

I would suggest the SEC provide a full and immediate update to the SHO amendment providing all of the raw data that supports their allegations of success. The people have a right to know how effective the SEC is in analyzing the data.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By davidn on 8/4/2006 7:07 AM
I had the same reaction as n-tres-ted. They put a lie in the middle of the piece:

"Naked short selling isn't illegal in most cases, unless authorities can prove fraud, such as a scheme to manipulate stock prices."

Taking someone's money, not delivering the shares, but using a pattern of deceipt (send out voting proxy forms, brokerage statements that imply the share is there) sounds like old fashioned mail fraud to me.

The SEC can't interpret rules in a way that takes away our constitutional protection of our private property.

I learned some new things, though.

1. It sounds like if they take a stock like NFI off the SHO list for a day or two, when it goes back on, all the old trades are grandfathered. I thought the grandfather only applied prior to Jan.

2. Hedge funds commiting the crimes seem to be confident that all the liability is with the brokerages. In many cases, these brokerages are public and we investors will get stuck again (you may own shares through your pension or insurance plan, for example). It's like how much of the Refco liability got dumped on people that bought into the IPO.

The short answer is no. The SEC puts most of its restrictions on brokerages, not naked short sellers.

3. Is this data new?

On an average day in March, those unsettled trades amounted to more than 750 million shares in almost 2,700 stocks, exchange- traded funds and other securities, according to Depository Trust & Clearing data obtained from the SEC through Freedom of Information Act requests.

Dow Jones strikes again!
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By david on 8/4/2006 7:14 AM
Patchie, we need to concentrating on naming the names of the arrestable people at the SEC who are spreading this disinformation.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By Patchie on 8/4/2006 7:41 AM
It starts with the Division of Market Regulation who presented this work to the Commission staff and to the public. I have my name (Asst. Director James Brigagliano) as it was his signature on the memo sent to Sarbanes back in early 2005 where he misled Sarbanes around the actual facts.

It was also Brigagliano who spoke at the NASAA forum (November 2005) and stated that this was not an issue and and that SHO was working yet it was November 2005 that the NYSE was sending memo's to Daiwa, Citigroup, and Credit Suisse regarding their violations to SHO. I asked him personally in November not to mislead the public (I said lie) and now I find out he may have done it again.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By SteveM on 8/4/2006 8:20 AM
Is Brigagliano to be the poster boy for reform? Is he going to be the first guy to do the perp walk? I was hoping for Carol Remond, James Cramer, or Herb Greenslime.

It is past time to take down someone very visible as a shot across the bow. And, screw the "fine without admitting guilt" BS. Then we close the SEC and let the Justice Department enforce the Securities Exchange Act of 1934 and the Securities Act of 1933!
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By davidn on 8/4/2006 8:58 AM
"I have my name (Asst. Director James Brigagliano) as it was his signature on the memo sent to Sarbanes back in early 2005 where he misled Sarbanes around the actual facts."

I remember that. He's definitely exposed himself to liability.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By Patchie on 8/4/2006 11:13 AM
Bear (James)...Not getting into my trading strategies one way or another and certainly not on this blog. Lets just say I have made money and lost money in all the trading markets including NYSE, NASDAQ, OTCBB, and Pink Sheets as I believe you have as well. Some losses were for legit reasons and I believe some were based on fraud. I will include losses in teh tech stocks during teh market crash as a place where naked shorting abuses caused significant damage to the investing public.

As for naked shorting, the abuse was tested and mastered on the micro caps and has been infiltrated into the NASADQ and NYSE since as I believe the Bloomberg article has illustrated quite clearly. These institutions carefully investigated how trade settlements would be enforced and once it was determined that it would not be they carried that fraud into bigger and bigger companies.

Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By stockpatrol on 8/4/2006 11:31 AM
andrew left is the contact guy.. out of california, with contacts in boca raton
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By brent on 8/4/2006 12:25 PM
The CEO thinks that a substantial fraction of the billions of shares that are naked shorted. The list says 37 shares.

Huh!?!

"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."
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By Patchie on 8/4/2006 12:33 PM
Bear....you are purposely taking this off topic so i will give you this simple answer and then go away...

Anthony Elgindy. first convicted of securities fraud then heralded by the FBI and SEC and where is he now...In jail for fraud.

The fact remains Berstein is a convicted felon of securities fraud. He may or may not have changed his stripes but...clearly his investigation into this matter is unfounded as he denies it even exists despite all the evidence and Elgindy conviction. Seems to me he still may have some of those "old stripes" after all.

No go run out and play nice somewhere for a change.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By InTheKnow on 8/5/2006 10:12 AM
There is nothing worse in life than selling your soul for money! History will remember only the grreed and corruption of their deeds and the the legacy they leave for their families.

In the end what they sow will come back to haunt the future of their families. You dont' have to look to far back to see the legacy that greed brought some!
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By rtway1 on 8/4/2006 3:04 PM
I can't speak for all who are reading this blog but I am left with the impression that Bear is a paid basher grasping at anything to change the subject and blow smoke in front of obvious and mounting evidence that there is a criminal activity going on and they can't hide it any longer. Even the ex-head of the SEC has used very strong language as to the seriousness of this stock counterfeiting as well as other very educated and informed individuals who have no dog in the race other than they are Americans who want to live in a honest and prosperous world where people like Bear will not try to cover up a potential catastrophe for their own well being while leaving the populace to be screwed. There are scam artist in every financial arena that has humans investing. Whether it is real estate or tulips there will always be scams, and nobody will ever stop all of them, but when the government is part of the scam then it becomes very serious and deserves immediate and affirmative action.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By davidn on 8/4/2006 3:44 PM
I'm highly suspicious of his motives. There is a lot of money to be made naked selling right before a bad article. The company may be a bad company, but it is still stock manipulation if anyone trades in front of the bad report.

I haven't really followed that site, but I do follow stocklemon which obviously shorts ahead of time. The stock typically collapses on heavy volume before the article comes out.

Did he spend any time in jail? Why not? Did he have to give back his profit? Why not?

I see he notes that Valentine, who made $700 million naked selling OTC companies got a slap on the wrist and Hartley had to write about it to rub our faces in it.

http://www.stockpatrol.com/article/key/markvalentine_pennystockbar
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By rtway1 on 8/4/2006 3:55 PM
Bear, there is no one here more dedicated to the counterfeiting cause than Dave Patch and I might add a total gentleman that we all are indebited to because of his tenacity and dedication to solving problems instead of causing new ones to form. When you start acting like a person interested in fighting this fight and working with others to write letters to the pols and SEC and doing the jobs that Dave and many others here do then I suggest you get the hell out of here and go play with Gary and Jimmy and Herb.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By gregcable2002 on 8/4/2006 6:04 PM
Selling shares of a companies stock and never delivering them to those who purchased them is illegal in my mind,I could care less if the company is a scam or not,and then grandfather the theft in is a bigger crime,they can twist and turn the facts anyway they want but the bottom line is that counterfieting is being done on a large scale and we'll soon see the consequences of this prolonged activity.DOJ is slow but sure.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By rtway1 on 8/4/2006 6:21 PM
I'm sure there are people from the SEC reading this site daily. I only hope there are more of you that are on the side of the public than on the side of the political influence that has permeated our system. I find it treasonous that any one would undermine our capital markets when we are in a time of war. I find equally deplorable that someone would benefit from the orchestrated demise of a company knowingly fully well that the lives of employees and shareholders will be devastated by their selfish , cowardly and criminal acts. Again I hope that the people from the SEC or the DOJ who might be reading this might take some time to think about how America got to be where it is today. It was from the blood and sacrifice of HONEST people who wanted to help one another not screw one another.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By Bear on 8/5/2006 10:19 PM
FROM BOBO: Here's an example of one of the less vitriolic posts that Bear gifted us with. Not e the personal attacks, lack of any on-point discussion about Bloomberg's article, etc. Vintage "attack the strong personalities and drag this down into the mud to obfuscate the issues" Yahoo dreck. Won't be tolerated here. I can summarize this post in one easy lesson: "Guns don't kill people, bullets or hemorrhaging or shock do". Bear? Killers kill people. The actual mechanics of their weapon of choice isn't of that much interest - and you ignore that there are plenty of venues that will sell naked for their clients, knowing that is the intent. Was that way for years in Toronto. Anyhow, here's his spiel:

"Help me out everyone.

Name one brokerage where I can open up a account and naked short stocks?

I bet I will be waiting for a long time for the name of that brokerage

Individuals can not naked short stocks.

Only a Market Maker can.

"
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By Master Jedi on 8/4/2006 7:32 PM
Hi Bear,

It's simple. The issue isn't the name of the brokerage, it's the name of your fund. If you are a large fund generating millions or tens of millions of dollars per month in commissions, and you call up to say, "Hey Lou, get me a locate on 400,000 shares of MSO or I'll find a broker who can," then you get a "locate" of sorts. Who is at fault there, you or the broker?


You know the way the game is played, kid.

I have to agree with rtway1: this guy's stuff reads like he is a plant sent to blow smoke and lead the conversations down any rat-hole he can find.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By bear, enuff is enuff on 8/4/2006 11:57 PM
1. You mean you don't have a wholesale account? Bear, you sound like a novice. How do you make any money?

I hope Bobo's plane lands soon so he can create a different thread for you. Your comments are interesting, but off topic and distract us from forcing change.

2. 99.99% of the SEC are good people. The problem is the politically appointed leaders aren't.

SEC employees read this. So do DTCC employees.

The good SEC and DTCC employees could help things incredibly by anonymously sending information on what is really going on. I suggest Bobo set up a mail address that accepts anonymous envelopes with real fail data.

Treason is not hyperbole. If you are loyal to your country, you are loyal to the constitution, not the bribe taking masters.

A paycheck doesn't make it right. If you have info that can help investors, you have an obligation to your neighbours to anonymously send it to Bobo.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By bear e' e' on 8/5/2006 12:49 AM
We need to all watch this movie, then write him and explain share counterfeiting:

http://video.google.com/videoplay?docid=-3254488777215293198

With the internet, we will win. It's all about education.

Did you notice how the Jeff Mathews, Cramer's, etc. of the world have shut up? They don't want to go to jail.

We will win. Keep up the pressure!
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By gregcable2002 on 8/5/2006 4:03 AM
check this out,looks like those who are manipulating these stocks are now getting looked at.This is the first step.Every share traded leaves a footprint.DOJ is slow but sure.





Enter symbol: Message Board Quote(s) LiveChart - - - - - News Chart (1-year) Find symbol







COMPLETE LIST OF SECURITIES WITH ONLINE RESTRICTION : TDAmeritrade

here is the transcript of todays conversation with TDAmeritrade complete with a list for the I-BOX


Chat InformationPlease wait for a site operator to respond.
Chat InformationYou are now chatting with 'Elizabeth'
Elizabeth: Hello. How may I assist you?
B: it has come to my attention that TDAmeritrade has restricted online purchasing of certain over the counter securities. How long will this situation persist ?
Elizabeth: We have made the decision to require the purchase of certain securities through a broker over the telephone due to suspicious trading. We will continue to require this for these securities until we believe that there is not manipulative trading taking place on those securities.
B: what do you consider manipulative trading ? Currently there is virtually NO trading on some of these securities. This is maily due to the uncertainty created by certain online brokerage's decision to not allow online purchasing
B: what criterion has to be met for you to restore normal trading policies ?
Elizabeth: Trading that would manipulate the market for those securities. I am not sure of the specific criteria that needs to be met. It would be a proprietary business decision to allow online trading of the securities again.
B: Doesn't every trade that changes the last recorded market price in essence manipulate the market price ? i.e. if a security is trated at say $5.20 and the ask is $5.30 and bought at the ask, would I be manipulating the price ??
Elizabeth: At this time, I have provided all of the information that we have regarding this issue.
B: essentially none
Elizabeth: If you wish to purchase a security that is on the suspicious trading list, you will need to do so with a broker at the Internet commission rate.
B: you neither told me specifically what you cosider manipulative trading, nor did you tell me how long it would persist
B: Do you have a complete list of all securites that are on your 'suspcious trading list'?
B: I would like to buy some of them, since you policy has virtually obliterated trading on some these stocks
Elizabeth: There are many factors that they consider when determining manipulative trading. We do not have a list of the factors. We simply know that they have been restricted due to possible manipulative trading. We do not know how long it will last and we do not provide the full list to our clients. If you want to purchase the securities you still can you just need to call a broker.
B: no, i would like a list of securities you are resticting. After all I am a TDAmeritrade customer and feel I'm privy to information that affects the trading in stocks I own (and I own at least two stocks you are restricting)
B: you should also let your supervisor know that TDAmeritrades bottom line is being hurt because you are haing to spend time explaing things to me and other shareholders
Elizabeth: Please hold one moment
Elizabeth: ABRI
Elizabeth: ADH
Elizabeth: ADNL
Elizabeth: ALT
Elizabeth: AMM
Elizabeth: ARCI
Elizabeth: ARTX
Elizabeth: ASGRE
Elizabeth: BDCO
Elizabeth: BFLY
Elizabeth: BWEB
Elizabeth: CGDC
Elizabeth: CIVX
Elizabeth: CLEC
Elizabeth: DBMI
Elizabeth: DDSI
Elizabeth: DELT
Elizabeth: DIMEZ
Elizabeth: DYII
Elizabeth: EGHT
Elizabeth: EGXP
Elizabeth: ELU
Elizabeth: EMRG
Elizabeth: ERES
Elizabeth: ETWCW
Elizabeth: FONR
Elizabeth: FORG
Elizabeth: GDKI
Elizabeth: GLBT
Elizabeth: GPRE
Elizabeth: GSPG
Elizabeth: GTCB
Elizabeth: HIV
Elizabeth: HLUN
Elizabeth: HMGP
Elizabeth: IASG
Elizabeth: IIP
Elizabeth: ILC
Elizabeth: IMJX
Elizabeth: IMNY
Elizabeth: INSN
Elizabeth: IPRE
Elizabeth: ISIG
Elizabeth: KINDZ
Elizabeth: KUL
Elizabeth: LITL
Elizabeth: LSRI
Elizabeth: LTEC
Elizabeth: LTS
Elizabeth: MBAY
Elizabeth: MLIN
Elizabeth: MNDO
Elizabeth: MPET
Elizabeth: MUME
Elizabeth: NCOC
Elizabeth: NGRU
Elizabeth: NICH
Elizabeth: NMSS
Elizabeth: NSLT
Elizabeth: NXXI
Elizabeth: ONH
Elizabeth: PAIM
Elizabeth: PCLO
Elizabeth: PLNI
Elizabeth: PMHJ
Elizabeth: PSUD
Elizabeth: PYST
Elizabeth: QEGY
Elizabeth: REDI
Elizabeth: RLTR
Elizabeth: RMDG
Elizabeth: RSFF
Elizabeth: RWGI
Elizabeth: SDIX
Elizabeth: SONT
Elizabeth: SRVN
Elizabeth: SSPI
Elizabeth: SWAT
Elizabeth: SYNMW
Elizabeth: TPPH
Elizabeth: TRPH
Elizabeth: UNCN
Elizabeth: VECO
Elizabeth: VLTS
Elizabeth: WBRS
Elizabeth: WDCV
Elizabeth: WGAT
Elizabeth: WNMI
Elizabeth: WNSH
Elizabeth: WOLV
Elizabeth: WSTM
Elizabeth: That is the list.
B: Thank you very much!
B: good bye
Elizabeth: You're welcome. Thank you for chatting with us today. Goodbye.
Chat InformationChat session has been terminated by the site operator.





Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By Johnboy on 8/5/2006 6:08 AM
Bear,

How much does being well respected by the reulators cost these days?
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By rabbit on 8/5/2006 6:17 AM
I have researched this area for many years. IMO, the naked shorting is mostly being done by marketmakers, option marketmakers, and trading desks. Biggest loophole ils the SHO 13 day FTD situation, where MM's and trading desks, including hedge clients, can short naked at will and delivere before 13 days. 13 days means you can be on teh SHO list early in a month and not have to deliver til week after expiration. This is a gross abuse of rule, amounts to stealling and fraud, and our government, regulators, self-regulators all have done nothing about it. SRO''s are a joke. SEC politically appointed commissioners are right in the thick of it. So is Washington, Cast your vote in November for honest policitians not catering to special interests.
Re: Bloomberg Article a Brilliant Expose and Discussion Of NSS Impact On Companies, Market, Investors By Little Bo peep on 8/5/2006 9:23 AM
rtway1 says:
There are scam artist in every financial arena that has humans investing. Whether it is real estate or tulips there will always be scams, and nobody will ever stop all of them, but when the government is part of the scam then it becomes very serious and deserves immediate and affirmative action.

I agree a 100% with you on that statement.
However, I am still not convinced the Mr Bush is behind this fraud. I think some people he trusted betrayed him.

I could be wrong.
I often am. However, I have to see proof. I have seen none.
It is my opinion that some "EGO's" are in bed with some money men that hate Mr Bush. That is why they continue to season the shit with a political flavor.

It is my opinion, this has nothing to do with that.
The poison is on both sides.
I think it will be cleaned up.
Shine up your "tin foil hats" and enjoy the weekend.

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