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Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO

Location: Blogs Bob O'Brien's Sanity Check Blog    
Posted by:   bobo 8/29/2006 5:50 AM

UPDATE: Forbes Scoops NY Press AGAIN in UBSS/LA subpoena case. Read all about it here.

I'm staring at a fax wherein the State of Louisiana AG is demanding that UBSS turn over all information, including all correspondence and trading records, in the matter of Sedona. It is basically the commencement of a criminal case in that matter, which involved the naked short selling of the company's shares in a wholesale and predatory fashion. Score one for the good guys, and the states. A big raspberry to the Feds, who are again behind the states in doing anything to protect investors.

---------------------------

Do you ever read something or hear something, and say, "Boy, I wish I'd said that!"

This letter to the SEC, in response to their request for comments, is an extraordinary example of that phenomena.

That Dr. Susanne Trimbath did say that, with such remarkable erudition and precision, is testament to the fact that we have some stunningly smart people supporting our take on the problems in the markets.

I won't belabor it.

The document is a white paper on the deficiencies of our system, and the dishonesty of our clearing and settlement apparatus, as well as our regulator.

It is damning in its simplicity and its elegance of thought.

And here is the attached comment letter from the SIA on over-voting, which is referenced in the attachments.

Folks, if people of the caliber of Dr. Trimbath get it, and I mean completely get it, why are our regulators and our elected officials acting as though it is all a mystery?

Take the time to read this, carefully, and then send it to everyone you know, including elected officials and any contacts in the media.

Because you don't have to wish someone would say it clearly and succinctly anymore.

Somebody did.

Stay tuned for the NCANS letter, to go up tomorrow, if all goes well. It is different than Dr. Trimbath's in the sense that it is more concerned with mechanics. Dr. Trimbath's is a poignant indictment of the SEC and the DTCC, and the entire system that has brought us perilously close to the brink. It would be a wasted effort to improve upon it or repeat it.

Bravo, Dr. Trimbath. That you have not been nominated for an SEC Commissioner role is clear evidence of the system's reluctance to actually fix its problems. The intellectual horsepower and credentials are out there to do so.

The system is broken because Wall Street profits from the inefficiencies. Simple.

Again, Bravo, Dr. Trimbath.
Copyright ©2006 Bob O'Brien
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Comments (50)
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By virakiller on 8/29/2006 8:11 AM
thank God for Americans like you Bobo,Ms Trimbath, Bud, Mark Faulk, Dave Patch
Patrick and Gov Huntsman and all other TRUE patriots

to all others like shelby, cox, nazareth, all sec and banking committees all b/d
and market makers and terrorist hedge funds
tic-toc-tic-toc

America is getting educated about this crime of counterfeiting VERY FAST
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By Niel Storts on 8/29/2006 8:34 AM
We all KNOW that the securities markets are litle better than a den of thieves. We all KNOW that the s.e.c. are only running interference for the felons providing kick backs for failing to exercise their responsablity to their true superiors (the American public)........... So what now? Take the scum out behind the barn? Take the law into our own hands????????? Dismal how the once great nation that out forefathers fought and died to institute, and protect, is now a thing of the past. As far as I'm concerned, when this is swept under the rug again, I will declare myself no longer a member of the american nation. End of discussion.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By ASAP on 8/29/2006 2:42 PM
Check out the WSJ which has a Hedge Fund article detailing how hedge funds have found a way to capitalize on the bond market. Buy bonds at a discounted price in companies that are having trouble submitting their quarterly filings due to the back-dating of stock options. Hedge Funds then notify company of delinquency in filing at which point the company needs to file their quarterly filing within 60 days. If the company can't make the filing within this time period, company is forced to purchase the bonds back immeadiately at face value.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By iscore4evr on 8/29/2006 2:42 PM
"The money has to go somewhere in a short squeeze."

That statement, unfortunately, is dependent on there ever being a short squeeze. Won't happen. I am not a CMKX investor, but have you followed what happend to them in their tribulations to get their stock certificates?

Same thing goes for buy-ins. The B/D's will just never do one. They all stick together on this and form an inpentetrable wall of refusal.

Which enforcement agency will be first to make them purchase real shares on the open market? Because if they aren't forced to, at risk of their lives, they will NEVER buy in a single share. They well know that once a single short cover is forced upon them, the floodgates will open and they will go belly up and drown!

Have you seen a single instance of a true short cover in the past year?
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By Benny on 8/29/2006 2:58 PM
Bob,

How many naked shorts are there in Global Links?

Do you think it was 5 or 10 million according to the FOIA data?

Dirty rotten scoundrals all of them.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By hemingway811 on 8/29/2006 3:12 PM
old duffer,

"How do we get her in front of Spector?"

I mailed a copy of her comment letter to Sen. Specter's office at the Judiciary Committee's address this afternoon, along with my comments.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By Popeye on 8/29/2006 3:12 PM
Try that in your corncob pipes.

A lone voice, thousands listen

http://news.com.com/2061-10796_3-6110709.html?part=rss&tag=6110709&subj=news
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By InTheKnow on 8/29/2006 3:17 PM
There can be no short squeeze if there are no shorts in a stock. Naked shorts don't exist (supposedly) in a lot of stocks. So what you will see is not a short squeeze but an upward price or value correction.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By old duffer on 8/29/2006 3:47 PM
hemingway, that is what it will take if we can only get them to read them! Somehow the noise has to get so loud that some fear for their seats.

I see some whore wallstreet lawyer thinks the States interest in NSS is overblown.

Hummm. seems like old Joe Kennedy did so well on the twentys version of this overblown type of thing paid so well that they needed a cover story saying he made all that money on bootlegging alone. Guess they figure if the public really knew where his big money came from they may look differently at his family he put into the place of never having to work no matter how many of them he spawned.

The bible says God is not mocked. Wonder if that has anything to do with the "Kennedy Luck" so many of them seem to have the misfortune of slamming into?
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By davidn on 8/29/2006 3:48 PM
I suggest we use language precisely and specifically not use the phrase "naked short". I prefer the phrase "counterfeit sale".

Long Sale: investor delivers shares from their own account in exchange for money. The purchaser gets a real share.

Short Sale: investor deliver shares borrowed from someone else's account in exchange for money. The purchaser gets a real share.

Counterfeit Sale: investor delivers an IOU in exchange for money. Investor has no intention of ever honoring the IOU. The purchaser gets nothing except downward supply side price pressure on their investment.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By davidn on 8/29/2006 3:54 PM
Bobo, can you put your video on youtube - it seems to be working, 15,000 views and now mainstream coverage. (Thanks, Popeye.)

http://www.youtube.com/watch?v=qd3VV8Za04g
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By bobo on 8/29/2006 3:55 PM
Benny: 27 million FTDs in Global Links on as of Feb, 2005, decreased over the next two months to "only" 10 million.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By Mike Ahmad on 8/29/2006 4:11 PM
It sure makes you wonder who has been the real terrorist against America for so man years.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By newspaper on 8/29/2006 4:46 PM
AMEX has 4 listing requirements one needs to meet to list there. One year ago they had a wavier program where if a company wanted to graduate to AMEX from the otc or pink sheets they could receive a pass on one of the requirements.

The SEC came in and FORCED the AMEX exchange to remove this waiver exception program. Most small caps used the exception for the PPS or market cap requirement.

Why is the SEC going in (where it does not belong) and telling (compelling, forcing) AMEX how to run its business?

The CEO of AMEX has made it a personal mission to complain and shed light on what a bane SARBOX is on little companies. It is a hardship on small caps and it costs so much it either completely eliminates profit or lowers it exceptionally in small cap companies.

Looking at these 2 small SEC actions may seem disparate but who do they affect the most?

Answer- Small profitable or near profitable companies that are trying to get to a better exchange or achieve a more favorable PPS and institutional investment.

To me it seems the SEC wants to make it as hard as possible for small stocks to make it off of the OTC / Pink exchanges.

Notice how the mantra is naked shorts only attack stocks that deserve it. Stocks that don’t have profit or have reduced profits (sometimes thanks to sarbox) or dirty low class otc stocks which don’t receive institutional investment are prime targets for NSS.

There are fewer companies on the OTC today than there was 3 years ago. There is a higher dollar volume on the otc this year than 3 years ago. Inverse to the 2 points above is the fact that the average pps of almost all stocks on the otcbb is much lower than it was 3 years ago. More money going in fewer companies listed and lower share prices?!?! HMMM….

Why is the SEC making it so hard for small companies to either succeed or get off of the otc?

Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By Wonder Boy on 8/29/2006 5:14 PM
As a group, we got some good news today in the form of letters to the SEC, an article in a widely read magazine, and a company that is standing up. OK. Ok. Whoopies and high fives all around. Now let's remember that WE cannot sit back and let someone else do OUR work for us!

I sent a copy of Dr. T's letter to our buddy Shelby with a simple question----Is this too hard? Hemmingway went in another good direction! Have we each sent a copy to each of our 'representatives' and asked when will this be cleaned up? 5-10 minutes of your time for the number of folks here could make an impact!
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By Benny on 8/29/2006 5:49 PM
Bob,

Is a FTD a naked short?

How many naked shorts are there in Global links? Does 10 million FTD's mean 10 million naked shorts?.

I am trying to understand the data like you Pros.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By otc on 8/29/2006 5:57 PM
I've thought that for a while. The SEC seems to want small companies to fail and most of their rules are structured to starve small companies on the OTC and Pinks of investment dollars. Success for the SEC would be bankruptcy and pink slips for all the employees.

How is it possible that more money is going into less companies than five years ago and all that extra buying pressure has resulted in an order of magnitude lower average share price?

- Sarbanes Oxley doubled the cost of compliance for small companies. Some companies still have delayed implementation, but it will hurt many when it is fully rolled out

- the SEC will put the 'E' extention on the symbol, creating a break in continuity for rule SHO for minor problems with filings such as formating. Often, several SEC lawyers will be involved with ridiculously minor filing problems.

- it is near impossible to file with the SEC as they use some weird Edgar formating system. I could see if the information went into a nice searchable database in HTML format, but no, the filings are still buried as documents in their weird format.

Most companies have to hire Edgar specialists to file and passwords are constantly expiring. It is common for companies to file a day late because the filing password won't work and the SEC won't accept the upload. If they file late, they get the new 'E' symbol.

- they allowed massive listings of companies against their permission in Berlin

- they allowed a couple companies to exit the DTC system, then suddenly banned the practice forcing the companies to put up with DTC corruption.

- insiders are discouraged from buying their own stock. If they buy, their whole position is tainted and they can't sell any shares for six months.

- investors are discouraged from doing a private placement by onerous rule 144 restrictions. Stock is restricted for two years and volume limits limit how much stock can be sold per quarter when the restriction is lifted. If the stock comes with a warrant instead of a discount to market, the warrant is restricted two years from date of exercise. There is a maximum amount that is allowed to be invested in the small company. Who would ever invest directly in the company when they could buy free trading counterfeit stock off the market instead?

- registering stock to be free trading by prospectus instead of using rule 144 costs about $100,000.

- when an investor lifts the share restriction on a private placement, it is filed as an "intent to sell" even if the investor only wants to lift the restriction and has no intention of selling. Private placement create a flurry of fake insider selling reports where there was no real selling as most people like to lift their restriction when they can.

- companies turn to hedge fund "PIPE" deals. The way that works is the hedge fund naked shorts the company to an extremely low level, then does a private placement at the lower price to cover their short position. Effectively, money from investors like you and me funds the placement and the hedge fund gets the difference as profit.

- insiders have a disincentive to hold their own stock in certificate form. When they re-deposit the certificate, it is filed as an "intent to sell" even if they are only putting it in brokerage form and have no intent to sell.

- there is NO LIMIT to how much market makers can naked short a company for a 30 day period. At the end of thirty days, they just need to cross it to another market maker for a day to reset the clock. Many market makers are located in the same buildings in New Jersey and Boca Raton and see each other in the elevator or communicate by text messaging. They also use codes where certain low volumes have meaning. For example, buying 100 shares means "I want to buy stock".

- companies can't graduate without a minimum price and a minimum market cap. Companies often get pummeled as they get close to $4 to graduate to the nasdaq. They do a roll back to reach the $4 level, then get pummeled so they don't qualify on the market cap. rule.

- it is impossible to delist from the OTC or Pink Sheets without going to a more senior exchange. Listing on a foreign exchange doesn't protect the company.

- companies aren't allowed to communicate directly with their shareholders or to even know how many shareholders there actually are or how many shares they represent. ADP and the DTC have a monopoly on shareholder communications.

- market makers will refuse to execute buy orders on the offer, then use that as an excuse to move the market down. It is common to see the bid and ask at the same price, but the trade refuses to occur. After 30 seconds, the offer will go up without the trade going through and all the bids will drop really low simultaneously to make it look like there is no buying interest. Even if there are real buyers, the market makers have the right to not show the bid.

A common technique when there are no buyers or sellers is they will lower the bid and offers simultaneously, without any downward selling pressure. A half dozen market makers will suddenly do this at the exact same time. The SEC seems to condone this.

- they don't allow investors to know what the market depth is. For example, there could be a million shares on the bid and no shares on the offer, but they will show it as 500 shares on the bid and 500 shares on the offer. Investors have no right to know what buying and selling interest is on a stock.

- if a stock is really popular and attracts a lot of buying interest, brokerages are allowed to make it "sell only". You can sell your position, but you can't buy any of it. The SEC allows brokerages to monkey with the ability to buy to justify the lower share price they've decided to counterfeit at.

- brokerages are allowed to ban the deposit of OTC and Pink share certificates, making them worthless if taken out of the DTC system.

- SEC revenue recognition rules and expensing of options, etc. understate earnings, misleading investors to believe the companies are doing worse than they are.

- a typical company spends $250,000 per year on SEC compliance, filing every material event, insider trading, quarters and annual reports, with detailed financials and disclosures. Companies are highly regulated.

The market makers on the other hand are living in the wild west. They only have to have $20,000 in assets to become a market maker and get huge margin to go naked short on companies. There are almost no penalties for not following the rules and they can remove funds from counterfeit sales as prices decline.

Why would the SEC over regulate companies and under regulate the market makers?
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By Granny on 8/29/2006 6:26 PM
www.TheSanityCheck.com
Have you had yours today?

www.TheSanityCheck.com
It's 2006. Do you know where your 401K is?

www.TheSanityCheck.com
The Security & Exchange Commission Stole My Money
& All I Got Was This Lousy T-Shirt

www.TheSanityCheck.com
The Stock Market Shell Game Swindle

www.TheSanityCheck.com
Sad Money

An Easter Bunny with a tin foil bonnet.
The SEC stole my nest egg
www.TheSanityCheck.com

Perhaps we can sell them on the "O" and use any profits to take a small banner (small scottrade size) on various websites saying www.TheSanityCheck.com.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By Miss Quackfaster on 8/29/2006 6:57 PM
“Sometimes I wonder if we shall ever grow up in our politics and say definite things which mean something, or whether we shall always go on using generalities to which everyone can subscribe, and which mean very little.” - Eleanor Roosevelt
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By bobo on 8/29/2006 7:34 PM
Benny. FTDs are Fail To Delivers, which are naked shorts. They sold shares, took the money, and failed to deliver the shares.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By just one victim of this oversite farce on 8/30/2006 5:42 AM
<...trouble submitting their quarterly filings due to the back-dating of stock options. Hedge Funds then notify company of delinquency in filing at which point the company needs to file their quarterly filing within 60 days. If the company can't make the filing within this time period, company is forced to purchase the bonds back immediately at face value. >

so company must ante up the money to cover bond contract default but...

Ted Butler's article
>Due to an unprecedented scarcity of metal, the LME was forced to revise the delivery terms of its nickel contracts. In return for allowing short sellers to delay delivery of metal, a daily penalty fee of around 1% of the contract value was payable by the shorts to long holders... That key fact is that the LME just declared that its nickel contract has gone into default.
While Mr. Heale states that the action by the exchange is designed to prevent default, the action taken is nothing but a declaration of default, rendering his statement as absurd. Default is a simple word. Any time you unilaterally violate or negate the terms and conditions of any legal contract, that contract is in default. Period<

so hedge funds can claim right to immediate reimbursement from struggling companies on their abrogated contracts but the exchanges dont bother to honor contracts to do business nor compensate the basic materials company they hurt.
THE SECURITIES MARKETS ARE A MESS & DETRIMENTAL TO INDEPENDENT BUSINESSES NOT IN BED WITH THE REGULATORS!
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By newspaper on 8/30/2006 6:17 AM
True story

I ordered about 10 items from overstock.com I got 9 of them.
I called overstock to inquire about my missing shoes.

They checked it out and told me my shoes were lost. They apologized and then they sent me a new pair of shoes with free express shipping and gave me a rebate for my next purchase! Awesome I was a happy camper.

Now I buy an overstock share. And I can’t get delivery of my share. No one can tell me why or how. Neither the SEC or DTCC are of any help at all.

There are only 20mil overstock shares (which the SEC/DTCC cant keep track of) I am pretty certain overstock sells millions of items which they do keep track of.

This whole cabal is always telling investors “ostk got it just desserts it is a crummy company and the ceo does not know how to run a business it deserves to be counterfeit short to death.”

Now you tell me; who runs the better business here!?!

The SEC/DTCC who can’t deliver their product or Overstock who actually delivers the items you buy or refunds your money if it is out of stock.

If a Ceo ever utters the word SHORT the entire organism will descend on that company with biblical like destruction.

Can you imagine repeatedly buying something from Amazon or Overstock and not getting delivery?!? Those companies would be run out of business post haste.

It is inconceivable to me that there are companies on REG SHO for as long as overstock has been.

You know as well as I the share amount does not matter. Some people say its only 10 thousand shares or .05 percent of 66 gazillion shares.

Try to pass 10k of counterfeit cash see what jail that gets you in. Let the online stores Try not to deliver your items after you send payment to them.

You know they want to get overstock and the other long term inhabitants off of reg sho permanently. You know they would love nothing better than to show that the system is working and take away persistent failure companies! BUT THEY CANT! How broken is the system when the poster children for abuse and malfeasance can’t make it off?

The SEC DTCC is not working it is a failed commerce model and a prime example of extreme incompetence or gross fraud.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By rick on 8/30/2006 1:00 PM
Good post, newspaper.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By newspaper on 8/30/2006 2:27 PM
You ever try to buy something that is sold out?

Go to overstock and try to buy something that is not in stock. If there is no inventory they will give you a refund.

Overstock does not make a counterfeit or knockoff item to send you.

If you really want that widget you are going to have to go to ebay and you will have to bid with others for that hot item.

The SEC / DTCC it would seem do not think overstocks business method is sound.
Keeping Inventory for the SEC / DTCC just seems like an unnecessary nuisance.

They WILL take your cash and create just for you own personalized counterfeit share.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By Kiralynne Schilitubi on 10/1/2006 1:09 PM
As an English professor, my approach is inherently different than
that of Dr. Susanne Trimbath. She does have my full support and
I delight reading such well written articles, especially so supported
with factual material. Hers is an excellent commentary.

My approach is to elicit an emotional response from those who read
my articles and, yes, I am in there with Trimbath. Readers will find
me all over the SEC websites and all over the internet working at
motivating the public to stand up and have their voices heard.

A viewpoint I hold is we cannot expect to witness any real progress
with these problems of discussion, for many years. My viewpoint is
our efforts will benefit our children, benefit all children of future years.
This is a point of view I promote on a regular basis; do this for our
children, do this for their children, do this for all children.

There is a disappointment. No, not a disappointment with quality of
articles presented. Trimbath presents high quality as do those we
oppose, such as Knight and Wolverine. My disappointment is the
low number of articles appearing at SEC websites. This number is
very low compared to the number of players in the stock markets.

I will close by expressing these grassroots efforts at effecting reform
in our stock markets, although excellent efforts, they are simply not
reaching enough readers, are simply not motivating enough people
to participate in efforts at reform, which benefit all, today and in the
future. I will encourage all readers to stand up and have your voices
heard. If your name is not found on SEC websites, shame on you.

Kiralynne Schilitubi
Choctaw Nation
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By Purl Gurl on 10/1/2006 1:33 PM
As an English professor, my approach is inherently different than
that of Dr. Susanne Trimbath. She does have my full support and
I delight reading such well written articles, especially so supported
with factual material. Hers is an excellent commentary.

My approach is to elicit an emotional response from those who read
my articles and, yes, I am in there with Trimbath. Readers will find
me all over the SEC websites and all over the internet working at
motivating the public to stand up and have their voices heard.

A viewpoint I hold is we cannot expect to witness any real progress
with these problems of discussion, for many years. My viewpoint is
our efforts will benefit our children, benefit all children of future years.
This is a point of view I promote on a regular basis; do this for our
children, do this for their children, do this for all children.

There is a disappointment. No, not a disappointment with quality of
articles presented. Trimbath presents high quality as do those we
oppose, such as Knight and Wolverine. My disappointment is the
low number of articles appearing at SEC websites. This number is
very low compared to the number of players in the stock markets.

I will close by expressing these grassroots efforts at effecting reform
in our stock markets, although excellent efforts, they are simply not
reaching enough readers, are simply not motivating enough people
to participate in efforts at reform, which benefit all, today and in the
future. I will encourage all readers to stand up and have your voices
heard. If your name is not found on SEC websites, shame on you.

Kiralynne Schilitubi
Choctaw Nation
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By mfm1021 on 8/29/2006 8:37 AM
Higher profile of criminal behavior and lack of enforcement seems to lead to emboldened miscreant activity. (Bad day to be staring at trading activity of nfi by the minute.) Dr. Trimbath' s exceptionally detailed and articulate paper serves to reinforce the filth that permeates our trading platform and the fact the all is owned and controlled by the large and megawealthy, both short and long. Without a white knight coming soon to the rescue, the small investor is doomed. Prime brokers, short hedge funds and long, lending institutions share much in common.
Not a pleasant feeling being raped, helpless and filling up the gas tank of someones motor yacht while they create trusts for their offspring to perpetuate the crimes.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By SteveM on 8/29/2006 8:39 AM
There it is... in black and white.

This is a very succinct report on the problems and solutions.
It spells out the corruption and how the rules are being gamed with the support of the regulators.
It demonstrates the errors (fraud!!!) being served up by the DTC and the SEC.

It demonstrates that there is no enforcement and no hope for enforcement by the market regulators and requires that they allow (stop obstructing) the States to regulate that which is legally the States to regulate.

It demonstrates that the SEC and the DTC should stop saying anything because they have no evidence that supports their positions on anything without major misrepresentation of the numbers and the facts.

We must keep this document front and center. The NY Press will ignore it. It must get to the real press and to our elected officials.

Great work, Dr. Susanne Trimbath!
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By mhatmccane on 8/29/2006 9:06 AM
Dr DeCosta also has a few words of advice for the SEC re the DTCC. Do not trust them, they will find any loophole you leave and drive a truck through it.

I did appreciate how Dr. Trimbath used the SEC's Nanopierce pleading in her letter.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By bobo on 8/29/2006 9:09 AM
Mhat: That would pre-assume that the SEC was interested in slowing, much less halting, the convoy of trucks.

After the Global Links revelation, and the Aguirre letter, and now this brilliant letter, does anyone have any doubt that they have zero interest?
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By old duffer on 8/29/2006 9:19 AM
Can someone get her together with Liz Moyers?
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By Concerned Citizen on 8/29/2006 9:38 AM
I wonder if any of these people would be interested in it:

Leslie "good job on Biovail" Stahl?
Bill "looking out for me?" O'Reilly?
Larry "the consumate endorser of a captialistic society" Kudlow?
Neil Cavuto?
Lou Dobbs?
Can somebody help us?
Can anybody help us?
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By old duffer on 8/29/2006 9:39 AM
How do we get her in front of Spector?
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By virakiller on 8/29/2006 9:46 AM
give me liberty or give me death
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By Little Bo peep on 8/29/2006 10:07 AM
Bunny,

You are doing excellent work.
If I could afford a gold star, I would give it to you.

Terrorist = Money

Who is kidding who?

Sometimes when people are poor and uneducated a
"good closer"
(not my words) can convince a mind,body and spirit to blow themselves up.

Could work like this, "good closers" prey on the weak.
closer says:
America is BAD, look they are killing our people and stealing our resources.
These people are bad so protect your family and your government.
If you blow up this bus for the good of your country. We will pay your family x dollars.
So, the poor helpless soul without any hope decides to give up life for
his family and country so their family will know how much they were loved when they get the money.

"good closers" that are rich with money, know how marketing works.
Understanding how media gets information to the American public.
So, buy the media and get what you want in print/TV/Radio/Internet to your advantage.

"good closers" that are rich with money understand finance and the stock market.
Decide what technology or company they want to steal or take over. So, they call
their "buddy closers" and tell them how to Naked short stocks and kill companies and
the associates that have invested lives to make their American Dream come true.
So, you buy your way inside. Wall Street and the government.
Put your nose up someones Ass and feed them ice cream and all is fat and happy.

The playground better close soon.
Because the ice cream is melted.


It is easy to lie, cheat, steal and kill Americans.
It is easy to ridicule people, break hearts emotionally
and break a persons spirit when they lack confidence.

People like Susanne Trimbath, Gary Aguirre, Patrick Byrne
and all of the "tin foil hat" CLUB renew the American Spirit.

You can kill us, lie to us, steal our money, take over our government.
However, you will NEVER kill our American Spirit!

march onward.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By bobo on 8/29/2006 10:44 AM
Good closers can convince you that the enemy is someone in another country with different colored skin or a different religion. That's been a popular one since the Crusades. There has never been a shortage of good closers.

If the enemy is without, then folks won't be looking within for him.

Gotta love those good closers.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By InTheKnow on 8/29/2006 10:56 AM
33 Senate seats are up for grap\bs and all the house seats. Make sure we get all those scumbags out and send a message to the Senate scumbags who are robbing us blind!
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By virakiller on 8/29/2006 11:06 AM
you are either part of problem
OR
part of solution
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By Check out pgwc! on 8/29/2006 11:53 AM
Pegasus Wireless Corporation Updates Shareholders and Brokerage Houses on Progress of Property Dividend
Tuesday August 29, 9:38 am ET


FREMONT, Calif.--(BUSINESS WIRE)--Aug. 29, 2006--Pegasus Wireless Corporation (Nasdaq:PGWC - News), a leading provider of advanced wireless solutions, issued today an update to brokerage firms as well as shareholders who are eligible to receive the property dividend that was announced on August 4, 2006. At the close of business on Monday, August 28, 2006, all brokerage firms were to have submitted lists to the Company's transfer agent that named all beneficial shareholders and the number of shares of Pegasus common stock owned by each as of the close of the market on August 11, 2006. As previously announced, the lists submitted by the brokerage firms must reconcile with the records that the DTCC has on file. It has come to the Company's attention that many of the lists submitted by the brokerage houses are materially out of adjustment with the records held by the DTCC. There are numerous discrepancies of varying magnitudes that have come to light with the submission of these lists, and the management at Pegasus is obliged to notify the shareholders as well as the Broker/Dealers and clearing firms as to its policy regarding this matter.

"In our efforts to ensure that our shareholders receive the warrants that are rightfully theirs, we have given the brokerage houses a one-day extension to submit the beneficial owner lists to our transfer agent," stated Jasper Knabb, President and CEO of Pegasus Wireless Corporation.

For those shareholders who hold stock in certificate form, Olde Monmouth Stock Transfer is in the process of preparing a list of those who are eligible for warrants, and will begin distribution after all regulatory requirements under the securities laws are complied with. This also holds true for the shareholders who's Broker-Dealers have submitted lists that match the DTCC records and have been designated as the beneficial owners to the Company. The Company has been notified that there are brokerage firms that have loaned out Pegasus stock, and the borrowing parties are not responding to requests to recall the loaned shares. For these firms who are attempting to comply with the Company's dividend procedures but are not getting cooperation from those who have borrowed the shares from them (or who have submitted lists with minor discrepancies that they are actively working to resolve), the Company is willing to work with them in good faith to reconcile the positions. Once the unbalanced positions are reconciled with the DTCC lists, those shareholders designated by such Broker-Dealers as beneficial owners will be treated like the others. For those lists which cannot be reconciled due to noncompliance of the brokerage houses or borrowing parties, the Company will make best efforts to assist aggrieved shareholders in retaining legal counsel to advise them on how to proceed.

"We are taking every action to make certain that our shareholders receive the dividend. I ask the shareholders to be patient as we work through the issues with the brokerage firms since I firmly believe that in the end, the extra precautions that we are taking will benefit those who are entitled to the warrants," commented Knabb.

http://biz.yahoo.com/bw/060829/20060829005448.html?.v=1
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By Kuma on 8/29/2006 11:55 AM
U.S. to China: No Economic Nationalism


A U.S. trade representative said Tuesday that China could seriously injure its economy and policy if it follows a path of economic nationalism.


American official Susan Schwab said in a news briefing that the Asian nation’s progress could be set back by its unwillingness to both fully embrace global trade liberalization and quickly implement commitments made at the 2001 World Trade Organization meeting.


Ms. Schwab implored Chinese leaders to take more initiative in trade talks, expressing "surprise that China was willing to allow other developing countries to represent its interest in the Doha talks through the ‘G6’ negotiating group, which includes the European Union, the U.S., India, Brazil, Japan and Australia," according to the Financial Times.


"If you were China, with arguably the greatest stake in the world trading system than anyone else, would you want India and Brazil to be articulating your position in this small [group]?" Schwab said, according to the paper.


Schwab also focused on the need for China to follow through on WTO commitments to open up its financial sector to the rest of the world. While she acknowledged that the country has made huge strides in fighting piracy of movies, software and various patented and copyrighted merchandise, the feeling is that there is much more to be done.

"We do not enjoy bringing WTO cases," Schwab said, according to a Reuters report. "What we want is to resolve these issues before they require litigation. But when good-faith dialogue does not yield positive results, we cannot stand by and allow commitments to go unrequited."

The deadline for China to fully implement all its 2001 WTO commitments - which included promises to open up banking and insurance to foreign companies - is Dec. 11.

Of course, China has benefited hugely from membership in the WTO. But, Schwab said, China has repeatedly delayed approval for foreign firms looking to expand their businesses in its financial services sector - and that could hinder China’s ultimate goal of bolstering domestic demand over exports.

As an example, for some time American investment groups such as Citibank have been negotiating for a controlling stake in China’s Guangdong Development Bank - and they have been patiently "awaiting improvements that haven't necessarily been forthcoming," said Schwab.

According to the Times, Schwab said: "If there was one sector where you would be cutting off your nose to spite your face, this would be it. If your aim is to promote domestic demand and support local entrepreneurs, then you need a financial system that works."
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By virakiller on 8/29/2006 12:17 PM
a financial system that "works" well kuma I guess you can count America OUT
Because our system is broken and WE THE PEOPLE need to get it fixed ASAP
Guess Louisianna saw how our Gov't helped rob all money allocated for disaster
relief so time for TASTE OF OWN MEDICINE
Hope Louisa has more strength than Utah and doesnt run away after making this stand
God bless us all
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By gregcable2002 on 8/29/2006 12:54 PM
Liz Moyer sure did a great job,it looks like she is digging deeper and deeper into this problem of the counterfiet stock program wall street has set up.TIC TOC TIC TOC
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By smitty#1 on 8/29/2006 1:00 PM
All, we must be heard. A march on Wall Street or Washington is a must. We the people must be heard.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By majordanger on 8/29/2006 1:11 PM
I am afraid the end-game is coming soon and it won't be pretty.

Question: How can we small time investors effectively shove Dr. Trimbath's document in the face of Big Financial Press?

To read all the Brokers, DTCC, and SEC crimes ..yes CRIMES! ... In one place at one time is chilling.

I love how she says the brokers seem to have the bookkeeping power to keep track of the CA$H but not the SHARES.

EVIL GREEDY BASTARDS!

And BRAVO! to Pegasus Wireless Corporation for calling the brokers OUT.

SHOW ME the SHARES!

Thanks Bobo, Patch, Faulk and all those others clawing at the stone wall with bloody fingernails.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By gregcable2002 on 8/29/2006 1:13 PM
and hats off to Pegasus wireless,I wonder if those wall street lawyers can get out of that one.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By gregcable2002 on 8/29/2006 1:15 PM
This thing is getting ready to EXPLODE bigtime.
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By iscore4evr on 8/29/2006 1:41 PM
I'll tell you what really surprises the poop out of me. We now have a plethora of facts concerning the felonius behavior behind this manipulation. The light of day has begun to permeate the dark dungeons of deception that the miscreants inhabit and completely exposes their filthy habits and deceptive behaviors and actions.

So what is so suprising to me, is that no one hasn't already wacked some of these criminals yet. I am not advocating such action. But someone somewhere has been burned badly. Or maybe a mother or close family member has been raped by these monsters in their white shirts and ties. They may have stolen the life savings from these innocents. Or perhaps forced into bankruptcy the companies that employed these people, and they no longer have jobs.

Well, one of these victims is going to turn out to have had Special Forces training or maybe it will be someone with a mental disorder who can't tell right from wrong. And they are going to start taking out people like Larry Thompson and Annette Nazareth and maybe a couple Prime Broker CEO's .

I would wager that if that kind ofaction were to take place, and maybe a few prostituting journalist's lost some kneecaps, this would maybe start getting the attention that was needed to get it straighted back out.

If that scenario doesn't happen, the coming financial collapse will no doubt destroy the lives of millions for years, if not decades. Could the world even recover considering the situation it is in presently? Or would we return to a new Dark Ages.

I fear that anything less will just be spinning wheels as the only other alternative would be a grass roots revolution and I don't see that happening in our lifetimes.

One thing you can be sure of. The thieves who are stealing billions will live fat. And so will their children and childrens children. While ours starve.

Someone has to put a STOP to this!
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By kevin on 8/29/2006 2:04 PM
Have you noticed the other side make sweeping comments like this with no factual back up, as the muckrakers here meticulously back up our claims with FOIA hard data? Where's their hard data to prove "the problem is overblown".

Who is wearing the tin hat?

"Lawyers who have defended Wall Street firms against naked short-selling allegations say the problem is overblown"
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By whitelight on 8/29/2006 2:10 PM
Money isn't wealth. It only represents wealth. Wealth is goods and service created by people like you and I that go to work every day. The financial parasites suck some of this wealth through their casino / banking system.

We'll never go to the dark ages. All that will happen is that the parasites will be starved of their blood supply and will have to start working for a living like the rest of us.

The money has to go somewhere in a short squeeze. As the brokerages and banks collapse in a domino fashion, long burnt investors will be cashing out record stock profits and we'll plough that back into the economy. We may even do additional PP's, helping employ people in vulnerable startups.

Why there hasn't been more violence against these thieves? My guess is that the victims don't realise that they've been victimized.

All I know is I wouldn't want my name up their as the poster child for the dark side. Have you noticed that one by one, the dark side loud mouths have been shutting up (greenberg, cramer, remond, cuban, weiss, etc.)
Re: Dr. Susanne Trimbath Comment Letter To SEC on Reg SHO By KirbyJF on 8/29/2006 2:15 PM
Bunny
Thank you so much for taking up this fight to get this huge problem out in the open. I have contacted all the political people in my state and sent letters to the SEC. I guess this is all any of us can do is try and keep the pressure on these arrogant charlatens. The Investment Bankers make hundreds of million's of dollars on this charade. Its going to be a huge fight to take these goodie's away from them.
Dr Triimbath's comments & reasoning were awesome. I'm glad she is for the TRUTH.
Kiirby

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