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Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants

Location: Blogs Bob O'Brien's Sanity Check Blog    
Posted by:   bobo 1/25/2007 9:22 PM

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Sign the Market Reform Petition Now!: View it here. Over 3000 folks already have. Make your voice heard.

To view the SIA NYSE member firm spreadsheet showing $63 billion in delivery and receipt failures as of Q2, 2006, click here.

Visit the new "SEC/Gary Aguirre Cover-Up" section of this site for a compilation of Mr. Aguirre's efforts to expose the SEC's alleged obstruction of justice and whitewashing of insider trading by some of the biggest names on Wall Street.

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Liz Moyer has a great piece in Forbes today, wherein she describes the destruction of a company by miscreants, while the SEC stood by and basically sucked their...thumbs.

Postscript is that none of the miscreants have gotten much worse than a slap with a Nerf bat, while the victim company has had much of its future destroyed.

Of course, the apologists, including the requisite academics who can't seem to make a distinction between stock manipulating criminals and honest short sellers, argue that those manipulating the stocks down are of value, as they, and they apparently alone, possess the godlike ability to understand what things are really worth.

Kind of like the lady who had the house next to the land Trump wanted for one of his casinos, and who was blocking the project. Apparently she didn't know its value, as instead, the government stepped in and asserted imminent domain, and gave her what that home might have fetched miles away. See, unlike you and I who might have thought that it was worth a fortune due to location, smarter folks understood that its value was really nominal. Same with these all knowing folks who have this deity-like ability to keep things from being "over-valued." They know these things, and are helping us all, not killing companies for profit. What an awesome PR job they have done...

And if they have to engage in stock manipulation, well, hell, nobody said that doing the Lord's work was easy. At least they are paid well for their efforts on all our behalfs.

I kid you not. And meanwhile, the regulators did nothing, until they had the entire case assembled for them by the company and a whistleblower.

That's our protection mechanism at work.

Read the article. It's a good one. I can't help but wonder what was left on the cutting room floor.

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And here's a good article out of Boston. It seems that the idea of stock manipulation via selling stock that doesn't exist is finally catching on as being a bad thing. Although the word illegal is still virtually unheard of in the articles. Wouldn't want to call defrauding investors by failing to deliver what they paid for illegal. Tut tut.

From the article:

"‘People like short-sellers provide a valuable social function,’’ Hu said. ‘‘They help set an appropriate price for the shares (because) there is a bias in favor of pushing stocks up.’’

Yessss. I seeeee. And one would really be out of luck if the buying demand actually set the price of a stock. I mean, when there is less demand, there would be lower prices, and, uh, well, you know, we can't have it work that way, because, uh, well, these valuable social functioneers know better than we what a price should be.

What a load of crap. And yet the same pasty faced shills keep touting the party line, even as IPOs race for the theater door to exit the US market.

Hey, I know, maybe it's Sarbanes-Oxley that is driving away business, and not the fact that the participants can create unlimited numbers of shares to crush virtually any demand...

Only place that line of hogwash sells is NY.
Copyright ©2007 Bob O'Brien
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Comments (60)
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By n-tres-ted on 1/25/2007 9:38 PM
Yes, Bobo, that little widow who land and home were taken for the casino could not possibly have been smart enough to foresee that Trump would someday want to buy her land. So why should the state allow her to profit from just sheer dumb luck by holding onto her land until Trump agreed to her price. The big guys like Trump, and his government friends, of course, are the only ones who have the intelligence deserving of riches.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By Unbelievable! on 1/26/2007 8:02 AM
You read a story like this and you can feel the corruption of the SEC and how it permeates all over Wall Street.

The Aguirre 5 can tell us all about how it works.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By ethical standards on 1/28/2007 12:46 PM
CNBC anchor Bartiromo's ties to Citigroup attract scrutiny

http://www.iht.com/articles/2007/01/26/business/cnbc.php
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By n-tres-ted on 1/26/2007 2:55 PM
Jill Considine is a member of the board of the Federal Reserve Bank of NY, but is not the chairman. She was elected by member banks to represent them on the board.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By lenofus on 1/28/2007 12:48 PM
I'm tracking the response to the story, and inspite of a bit of a nit pick here and there, this is opening the komona in a big way, and it aint' pretty.

It exposes two important points. first, death threats. Mulshine wasn't the only one at Sedona to be exposed to that, and secondly, all those wondering where the FBI is, Badian is ratting his own brother out. I heard an agent told a contact a while ago, "we've got to get the top guy". I think as long as these sissys give each other up, Justice could be a while. However, there are AG's and other entities that can bring criminal charges. I'm smelling fear. Watch Sedona on Monday. Today, they stayed away. Let's see if they walk the stock down Monday.

Oh, and when this breaks, I want the Press to explain where they were. They can't say they didn't know, because we've got the email trails to prove they knew.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By waitingnotsopatiently on 1/28/2007 12:48 PM
July 16, 2006.. first comment letter. We are starting the 8th month of waiting. 405 comment letters have been written. 195 days have passed... Will the SEC ever address this pass they gave to the manipulators? The decision makers at the SEC are not blind or stupid... so what conclusion can the investing public draw from the bogus Reg SHO? Is it just a delaying tactic on the SEC's part so that the miscreants can pilfer more? Grandfathering.. insane... MM exemptions.. insane. This is the kind of regulation you would expect from people on the take or incomps or lazy, fat puppets. The public trust is in the hands of the enemy.

Two more articles written to draw light on this. More people and legislators realize how bad it is. It is hard to be patient after years of abuse. Send in the Mounties. Europe knows. The publicly traded companies know. What do we have to do to get these Commissioners to clean up the mess they have made?
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By Vermin protected by the SEC on 1/28/2007 12:52 PM
Read that other article in Forbes about the scum running the hedge funds. I can't believe the the SEC protects this vermin and tells indivdual investors to literally go f#ck themselves.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By InTheKnow on 1/28/2007 12:53 PM
When are we going to get one of these groups to ask for disclosure of settlement failures reported BY THE FAILING PARTICIPANT? Wouldn’t you want to know if your broker wasn’t giving and getting what you are paying for?
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By Sean on 1/28/2007 12:55 PM
Sewer Pipes
Nathan Vardi 02.12.07

Hedge funds are posting nice returns from deals that may involve ex-cons, stock scammers--even the Mob.

If your entrepreneurial venture were desperate for capital, would you get it from a hedge fund? Sometimes that's not such a good idea. Consider Laurus Master Fund. The Cayman Islands hedge fund opened with $5 million under management in 2001 and has grown to $1.6 billion making investments in so-called PIPEs, or private investments in public equities.

In those deals the fund invests in a cash-starved, thinly traded public company. In exchange it gets securities-- notes that charge interest, warrants and options--convertible into common shares of the company. Laurus claims it has achieved an annualized net return of 18.5% since inception. The people running Laurus from New York--brothers Eugene Grin, 49, and David Grin, 37--are making out pretty well, too. In addition to the standard 2% of assets and 20% cut of profits, they also collect a closing fee, an average 3.5% of each deal, which they liken to points on a mortgage. As for the companies they invest in? Not so well. On average they lose 30% of their stock price within a year of signing a Laurus pipe, says PlacementTracker, a San Diego research service.

PIPEs are a big business, drawing $28 billion last year from hedge funds. Some of the companies raising the capital are large, but most are desperate indeed, too small or too weak financially to raise money with a public stock offering. Some of the hedge funds providing the money are not financiers that you would select if you had a choice.

Originally from Ukraine, Eugene Grin became a vacuum cleaner salesman when he landed in the U.S. in 1979. Then he worked as a broker of penny stocks, among other investments, at F.N. Wolf & Co., the boiler room shut down by regulators in 1994. At Wolf one of Grin's clients was Gilbert Bornstein, a 54-year-old unemployed man
who invested $32,000 with Grin after being convinced he could safely double his money through penny stocks. (Grin says he never made that claim.) Bornstein was soon stuck with $27,000 in losses. Nine years later a New York State judge determined that Grin owed Bornstein $40,000. Grin has yet to pay that bill, and the judgment remains outstanding. "He was superwealthy," Grin shrugs, by way of an excuse. "There was money in the family."

Today Grin and his younger brother, David, still traffic in penny stocks. But they do so through PIPEs. Hedge funds love these deals because the shares they get are often priced at a discount to the market to compensate for the fact that they can't be traded until they are registered with the Securities & Exchange Commission, which can take months. Meantime, though, hedge funds can value those PIPE warrants and options pretty much any way they want and calculate their net asset value accordingly. The larger the gain in a fund's NAV, of course, the more attractive it is to new investors.

And the more attention these deals may draw from regulators. "Improper trading practices in connection with PIPEs is a concern," says David Markowitz, an SEC assistant regional director in New York. "It's an area that SEC enforcement is looking at." The feds have so far focused on the improper shorting of stock. It is mighty tempting for a PIPE buyer to double-cross the company it is investing in by shorting the company's stock and using the conversion privileges with the PIPE investment to cover its short position. That earns the investor a quick spread but wrecks the target's ability to raise more equity capital. Such shorting is forbidden by Section 5 of the Securities Act. In September a U.S. Attorney charged Hilary Shane, a former hedge fund manager, with insider trading, accusing her of shorting Compudyne's stock after learning that Compudyne was contemplating a pipe fundraising. On Jan. 4 Joseph Spiegel, a onetime portfolio manager for a New York hedge fund, settled SEC allegations of his using PIPE shares to cover short trades and paid a $110,000 penalty.

Andrew Worden, 41, runs Barron Partners, a $150 million hedge fund that has invested $85 million in pipes since 2003. The fund flogs its expertise in microcap companies. It doesn't promote the fact that Worden in 1994 pleaded guilty to wire fraud--he stiffed brokers on shares they bought for him that decreased in value--and served two years' probation. "I was 23 years old," Worden says of his indiscretions, which were not prosecuted for five years.

In March 2005 Barron Partners invested $1.5 million in Cordia Corp., a Winter Garden, Fla. Internet-phone outfit 54% owned by Alexander G. Minella, who in 1993 was sentenced to up to six years in prison. Minella, then president of broker Wakefield Financial Corp., pleaded guilty to having "secretly rigged the trading in certain Nasdaq securities" by getting brokers to trade among themselves to manipulate prices.

Corey Ribotsky, 36, heads N.I.R. Group, a handful of Roslyn, N.Y. hedge funds with $630 million under management. His first business partner successfully sued him for stealing away their marketing and consulting firm. The florist at Ribotsky's wedding filed a $7,275 claim against him for failing to pay the bill.

So how does he do as a hedge fund manager? A Ribotsky PIPE, on average, precedes a stock-price drop of 54% a year after the deal, according to PlacementTracker. That still works for Ribotsky because of the way he
structures a PIPE: He receives debt securities convertible into discounted stock, in an amount determined by dividing the principal by the price of the shares at the time of conversion, less a steep discount. The further a stock falls, the more shares he gets. Since Ribotsky invested $1.5 million in 2005, shares in Med Gen are down from $1 on the o-t-c bulletin board to a fraction of a penny. The Boca Raton, Fla. company had less than $1 million in sales from an antisnoring spray, diet pills and supplements. (Its biggest shareholder and chief executive is Paul B. Kravitz, the former president of AppleTree Cos., who paid a $25,000 penalty in 1996 to settle SEC claims that he failed to tell investors in an AppleTree offering that he planned to invest $250,000 in a gambling casino.) Ribotsky converted the debt into 171 million shares of Med Gen, at discounts of 40%, by September 2006. Did he sell his stake, triggering the stockprice plunge? N.I.R. lawyer Jonathan Schechter declines to say. "It is not us that makes a company lose its value--maybe a company hasn't executed its business plan," he says, adding that N.I.R. never shorts a stock.

One of Ribotsky's PIPEs, a $1 million investment in Roanoke Technology, a Rocky Mount, N.C. Web site designer, allowed N.I.R. to purchase newly issued shares at a discount of 50%; Roanoke's shares then traded hands on the o-t-c bulletin board at 12 cents. After Ribotsky sued Roanoke when it didn't meet its loan payments, Roanoke countersued, claiming that N.I.R.'s selloff of shares was destroying the company. Indeed, trading volume of Roanoke stock jumped from 180,000 to 2.4 million shares on the days Ribotsky's funds filed conversion notices, say court documents, and the stock price plunged to less than a penny. Both suits were settled. Roanoke chief David L. Smith Jr. ended up leaving the company and settling SEC charges in August 2006 that he improperly issued stock to consultants who sold them for $7 million and kicked back $4 million to him. Smith has been barred from acting as an officer or director of a public company.

When it comes to dicey partners, though, few are as accomplished as the Grins. They financed FrancisO'Donnell, who has gotten to know the feds pretty well. Taking over as chief of Searchhound.com, an o-t-cbulletin board stock in 2003, O'Donnell changed its name to Coach Industries, quickly built up a controlling stake in the Cooper City, Fla. firm and started acquiring limousine companies. Laurus backed him with a $6 million loan.
On Jan. 5 O'Donnell pleaded guilty to being an associate of the Genovese crime family. The indictment also claimed that an FBI agent posing as a drug dealer was asked to launder proceeds through Coach in exchange for a fee. In addition O'Donnell is accused of luring a victim to his office, where Clement (Clemmie) Santoro allegedly held a gun to his head and demanded a $1.5 million payment.

The Grins invested $1.5 million in April 2004 with Magic Lantern Group, which marketed Canadian educational videos. Their introduction to the company came through National Financial Communications, owned by Geoffrey Forbes.com - Magazine Article Page 2 of 3 Eiten, a Needham, Mass. newsletter writer who flogged companies and claimed to show readers "how to make 5,000%" on their money. Magic Lantern's biggest backer was Lancer Management Group, a New York City hedge fund that blew up amid accusations of fraud.

Magic Lantern, which lost $15.9 million on sales of $2.7 million in 2004, began to disintegrate. Eiten was sued in September 2006 by William Galvin, Massachusetts secretary of state, for engaging in "widespread 'pump and dump' transactions by publicly promoting certain stocks at the same time he was selling them." Galvin released chummy e-mails between Eugene Grin and Eiten's company suggesting they team up to sell Magic Lantern shares. Eiten denies any wrongdoing. Laurus managed to eke out what it calls "a nominal profit" before Magic Lantern's stock collapsed.

In November 2004 Laurus agreed to lend Thomas Equipment, which makes skid loaders and hydraulic equipment in Canada, $22 million to finance acquisitions and operations. At the time the stock traded at 88 cents. Most of Laurus' loans were convertible into stock at prices of $1.50 a share; the Grins also bought 2 million shares for a penny each and received options to purchase 4 million more for a cent apiece. Helped by a steady stream of press releases, Thomas shares touched $8.99 in January 2005 on light volume.

What was driving the stock? James Patty, former interim chief executive at Thomas and a current board member, says that David Grin was constantly focused on Thomas Equipment's share price, even though the lack of liquidity in the stock meant that Laurus could not sell too many shares without driving down the price. Word came down
from David Grin, says Patty, "that he couldn't allow that type of hit to his portfolio." Why? "My assumption would be he was looking at a valuation of the company in order to attract additional money into his fund," Patty says.

Ridiculous, says Eugene Grin. The effect of Thomas' high stock price on Laurus' net asset value "was never material." His valuation model, he claims, discounts severely for the lack of trading volume in a stock like Thomas. A good thing for Laurus: Thomas Equipment's two main units have filed for insolvency in Canada; it was yanked
off the American Stock Exchange and now trades for 8 cents.

Eugene Grin says he never shorts a stock. He also insists that Laurus provides a valuable service--and is more like a bank than a hedge fund. "We have tens of thousands of people working because of our investments," he says. "It's a beautiful thing."

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**received in an email
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By clearthinker on 1/28/2007 7:46 PM
Don't forgrt...The SEC let Refco go public, knowing FULL WELL that Refco brokers were deeply connected to illegal stock manipulation (SDNA).

Add to this their misconduct in the Aguirre case, and the grandfathering of untold fails, not to mention ignoring the ex-clearing problem and....

Sorry folks, but between the DTCC and the SEC, it's clear to me that any cleanup of this rat's nest will have to come from other entities....

They simply cannot be trusted
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By davidn on 1/28/2007 7:47 PM
In the know, one of the problems is your brokerage is like NOT a participant. Over 90% of brokerages trust a clearing brokerage to own your shares.

Why does the SEC make it so cumbersome and difficult for brokerages to own their shares in their own name?

Why don't we eliminate the DTC and use the NSCC computers to keep track of which brokerages are the beneficial owners of the shares. Let the brokerages be the beneficial owner rather than the anonymous, privately owned Cede & Co.

If we get rid of the long daisy chains, the transparency will be light lysol, cleaning the scum from the system.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By refco on 1/28/2007 8:16 PM
Are there any lawsuits about Refco? It seems the funds that lost money should be able to sue the commissioners at the SEC for allowing it to go public when they knew about Sedona.

Is their a criminal case here? Are the commissioners criminally liable for abetting this fraud, where Refco's liabilities were transferred to innocent investors who bought the IPO based on false disclosure?

It's clear to me that many commissoners at the SEC are pulling a Shelby (a new verb that means to accept bribes to help their friends make money as they screw the public).
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By Sean on 1/28/2007 8:28 PM
Clearthinker, that is one of the best posts that I have read on this blog.. but lets take it a step further If the SEC shuts companies down(revocation) Eagletech, CMKX ect. because it does not want future investors harmed why would they(The SEC) approve of a Refco IPO with the knowledge of the companies' wrong doing and shady past? Unless they (the SEC) was trying to pass off the bad debt to public investors? I believe that had Refco remained private some very big shots would have to shell out some seriuos cash to cover its losses thus we the public were used by our regulators bagholders to ease the financial blow of the hedge funds, et al, involved.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By Sean on 1/28/2007 10:16 PM
By the way I think all should look at this video.. then and only the will you understand from whence the idea came to counterfeit stocks and shares of such and how it was forced on us unknowingly. This is some scary stuff!!!

http://documentaries.ws/1/e107_plugins/content/content.php?content.23
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By refco on 1/28/2007 10:47 PM
Sean, you are onto something.

If there are any lawyers reading this blog - they're be your whale. Hundreds of billions were short at Refco and they stiffed the problem on the new IPO holders without disclosing it the prospectus.

Actually, they knew that would be too blatant, so what they did was merge obligations into other Refco's, only delaying the inevitable catastrophic failure.

If we are going to fix this, a lawsuit that names Senator Shelby, the SEC commissioners, etc. in a RICO suit for conspiring to rip off the public by allowing Refco to go public could have legs.

If nothing else, the NY financial press would have trouble not at least giving it a mention on page 72. Publicity is important.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By refco on 1/28/2007 11:13 PM
The SEC is going to have trouble hiding the growing public outrage. Not only do we want to get rid of it as a parasitic organization, but we want to hold the scumbags that work there personally accountable. (The leaders, not the honest people that take their shit, but are too chicken to post here).

We assume they will do nothing and plan how to make them irrelevant.

They say it has gone mainstream when your paperboy is talking about it and everyone I know is furious about the massive counterfeiting scheme at the DTC and Federal Reserve (google plunge protection team) and the wars they orchestrate and our children they sacrifice to keep liquidity in the system. With threat of going off topic, I will notice that the "inside job" that was 911 targeted the three buildings that held SEC records and the trillions of dollars of gold that was stolen from the basement subways saved them from a gold short squeeze that would have threatened privately owned central banks.

Adnan Khasshoggi / MJK stole almost a billion on Sept. 12th. Adnan's buddy Elgindy shorted the airlines on the 10th. Elgindy worked with the FBI and CIA which means our own government was IN ON IT. Look at Rakesh who stole 6 billion dollars from Thailand in $88 million tranches for his boss Adnan. The SEC knows that Adnan lives in France within three houses of the head of Refco, but they pretend he is a missing person they can't charge.

BCCI = Naked Shorting = Adnan = Miliken

Arms = drugs = counterfeit central bank money = counterfeit DTCC shares = dictatorship and touch screens with no audit trail

Talk is cheap - it's time to start rounding these scumbags up while there is still time. As long as America is a democracy and the patriot act isn't permanent, WE are in charge.

I like to think of a dog with fleas. They are hard to get rid of, but they are just fleas. The economy is based on you and me that work for a living. The fleas that are trying to suck our blood have no power.

This is a link you should save. I think the document is a fake, but it explains how the NWO banksters that are little old whimpy men that dream of running the world think:

http://www.lawfulpath.com/ref/sw4qw/index.shtml

The internet is here. We're not stupid and we're going to remove you parasites from power.

It is ridiculuous that their comment period ended in Sept., yet the assholes still haven't come up with a new rule.

Anything posted puts them on notice and potentially exposes them to personal liability. Anything posted goes into the Federal archives for all time.

You can post anonymously and you must post. It's a minute out of your life, but every time you post, they assume it represents 50,000 other people. It's your chance to take thoughts in these blogs and put them in the permanent record.

Do it now before you change your mind!

We should all have a goal to post at least once per day in the Reg SHO comments.

Go here to third quarter - you can read and post comments on Reg. SHO.

http://www.sec.gov/rules/proposed/proposedarchive/proposed2006.shtml

I assume the SEC will do nothing, but you are creating a public record for politicians and future judges to determine whether the SEC was part of a RICO conspiracy to transfer wealth from ordinary people to their rich buddies.

We WILL win. The only question is how long it takes and how many good investors and companies get hurt as long as the parasite is in the system.

We need to rid the system of the SEC / DTCC / Senate Banking Commission disease.

Did you post? Why not - go back and post.

If we all post daily, the SEC will drown in comment letters that will make them look stupid.

We should have as many comment letters as names on the petition.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By refco on 1/28/2007 11:15 PM
My last post was longwinded, so I'll beg you here - post a comment to the SEC NOW while you think about it. If you don't have a comment, scroll back through Bobo's blogs and choose someone else's. You can do it anonymously.

Go here to third quarter - you can read and post comments on Reg. SHO.

http://www.sec.gov/rules/proposed/proposedarchive/proposed2006.shtml

These comments are in the permanent record and can be referred to in the criminal trials when SEC commissioners charged with RICO claim they had no idea.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By refco on 1/28/2007 11:31 PM
...and I'll put this one it's own link, so it doesn't get missed.

http://www.lawfulpath.com/ref/sw4qw/index.shtml

Money is created by credit and destroyed by paying back loans. The government taxes us to pay interest and they hide how wealthy they are by using special accounting that doesn't treat bridges or parks as an asset. Most stock and debt IS OWNED BY THE GOVERNMENT, but shhsss, that doesn't serve the bankster masters.

This ridiculously stupid system of creating money benefits a few assholes that buy $300 million paintings at the expense of the rest of us, but it has a problem.

As the population that was wealthy in the 1950's with a single worker becomes poorer to the point that with two workers, they still can't make ends meet, they stop buying stuff. They won't even borrow and attempt to pay back their loans.

If you are the king and own everything, who do you sell to when your population are serfs?

When this happens, the banksters require new demand. The only way to get it is through a war where the government borrows. That act of borrowing creates new money and makes the system feel rich and liquid.

I skimmed by it, but any economist will agree this is factual:

1. All money is created by borrowing and is printed out of thin air by the privately owend banks.

2. Only the principle is created. The only way to come up with interest is to expand the economy, dilute the value fo the currency or borrow more. Borrowing more crashes the system once per century.

3. When the people stop borrowing (deflation), the economy is forced to collapse. It is ridiculous, like not building a house because you don't have a ruler. Money only measures economic activity. The war of 1776 was because the people realized that even though private central bank British pounds were in short supply, they could have full employment by printing their own colonial script and avoiding taxes because of this barter system.

Read this link, then it all makes sense:

http://www.lawfulpath.com/ref/sw4qw/index.shtml

http://www.lawfulpath.com/ref/sw4qw/index.shtml

http://www.lawfulpath.com/ref/sw4qw/index.shtml

and think of how Henry Kissinger referred to the miliatary as dumb brutes that achieeve the bigger goal.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By kevin on 1/29/2007 2:30 PM
Nice to see one of the SEC commissioners is still in favor of counterfeiting stock:

Said SEC Commissioner Roel Campos, ‘‘Short sale regulation has been, is and will continue to be an issue where agreement is difficult to find. All experts, including our own economists, are convinced that short selling provides the marketplace with liquidity and pricing efficiency."
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By clearthinker on 1/29/2007 3:50 PM
of course, getting an SEC Commissioner to discuss NAKED short selling and FTD's impact on the underlying security is nearly impossible. This is not about liquidity. True legal short selling is NOT the problem. Patrick Byrne, Dave Patch, Bud Burrell and many others have REPEATEDLY stated this. There are those who still are attempting to cloud the waters with these statements about legal short selling.

This is about naked short selling, phantom long sales and the failure of the settlement system to force the buy ins of failed and unsettled trades.

Yes, it is this simple......
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By kevin on 1/29/2007 7:43 PM
The quote was from an article on naked shorting and he was discussing reg SHO.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By clearthinker on 1/29/2007 10:06 PM
liquidity is fine until you drown......
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By Sean on 1/29/2007 10:13 PM
In his hearing OIP,Rob Young the CEO of Eagletech said to the SEC "DO YOUR JOB"
After this Refco fiasco, Enron, Worldcom and countless other financial disasters it is apparent that they are incapable of DOING THEIR JOBS!!!
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By Catfish on 1/30/2007 12:02 AM
Liquidity or tsunami? Under the current set of rules, NSS not withstanding, there are no restrictions as to how far a stock may be shorted. 300% of the float would be allowed since the same shares can be lent over and over and over.... Add in NSS and ex-clearing and any other shinanigans I can't even think of and things just get completely out of control. I doubt anyone who should know the real numbers actually does.

Foreign markets have restrictions as to how large a short interest is allowed, along the lines of 10% of the float or so. Seems more reasonable to me. I believe that should be one of the points pressed with SEC and market reforms.

Although I believe the SEC is broken and co-opted, and should be dismantled, I don't see that happeneing any time soon. Maybe one of the next Presidential candidates can make that a plank... Well, I can wish.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By InTheKnow on 1/30/2007 8:11 AM
JAG Media Holdings, Inc. Announces Amendment of Merger Agreement with Cryptometrics, Inc. and Restructuring of Financing with Cornell Capital


2007-01-30 10:30 ET - News Release


BOCA RATON, Fla. -- (Business Wire)

JAG Media Holdings, Inc. (OTC Pink Sheets: JAGH) announced today that it has entered into an amendment agreement with Cryptometrics, Inc. and the other parties to its pending merger agreement in which Cryptometrics has, among other matters, approved the agreement regarding the restructuring of the Cornell financing described below, waived the condition in the merger agreement requiring that the Company's stock be authorized for listing on the NASDAQ Capital Market prior to the closing and agreed to fund various expenses of the Company in connection with the Closing. The Company and Cryptometrics have also agreed on a fixed increased consideration to be received by the Cryptometrics stockholders in the merger of 394,700,016 shares of the Company's common stock and will establish an escrow for various closing documents in order to facilitate the closing of the transaction.

Cryptometrics and JAG Media have set February 28, 2007 as the tentative closing date for the transaction, subject, however, to the satisfaction of the remaining conditions to closing set forth in the merger agreement and the amendment agreement, including the filing and effectiveness of a post-effective amendment to the Company's registration statement on Form S-4. The merger agreement, as amended, will automatically terminate on March 15, 2007 unless the closing occurs by that date or the parties agree to extend such date. Until the Company and Cryptometrics agree otherwise, the merger agreement, notwithstanding approval by the Cryptometrics stockholders, may be cancelled with or without any reason at any time by either the Company or Cryptometrics with no liability, except that if the Company cancels the merger agreement, prior to the automatic termination date, it will issue 500,000 shares of its common stock to Cryptometrics. There can be no assurance that the various conditions will be met or that the merger agreement will not be terminated in accordance with its terms.

The Company also announced that it and Cryptometrics, Inc. have entered into an agreement with Cornell Capital Partners, LP regarding the restructuring of Cornell Capital's existing financing with the Company. Among other matters, the restructuring provides for adjustments in the exercise prices of the warrants issued to Cornell Capital, an adjustment of the conversion pricing formula in the outstanding debentures and restrictions on the periods during which Cornell Capital may exercise the warrants. Cornell Capital has also agreed not to make any conversions of its debentures or exercise any of its warrants prior to the closing or the termination of the amended merger agreement, whichever occurs first.

Except for the immediately effective provision prohibiting Cornell Capital from converting its debentures or exercising its warrants prior to the closing, the restructuring becomes effective only upon the closing of the proposed merger between the Company and Cryptometrics and satisfaction of certain other conditions set forth in the agreement. The agreement automatically terminates on March 15, 2007 unless the closing of the merger occurs by that date or the parties agree to extend it.

A copy of the entire agreements amending the merger agreement and restructuring the Cornell financing will be available in a Form 8-K being filed by the Company and should be consulted for all of the provisions of such agreements.

Additional Information

Investors and security holders are urged to read the Form S-4 filed by the Company on March 16, 2006 including all subsequent amendments, which describes the proposed merger involving the Company and Cryptometrics. Investors and security holders will be able to obtain a free copy of the Form S-4 and its amendments, as well as other filings containing information about JAG Media without charge, at the U.S. Securities and Exchange Commission internet site (http://www.sec.gov). Copies of the Form S-4 and the filings with the U.S. Securities and Exchange Commission that are incorporated by reference in the Form S-4 can also be obtained without charge by directing a request to Thomas J. Mazzarisi, JAG Media Holdings, Inc., 6865 SW 18th Street, Suite B13, Boca Raton, Florida 33433, Tel: (866) 300-7410.

About JAG Media Holdings, Inc.

JAG Media Holdings, Inc. is a provider of Internet-based equities information that offers its subscribers a variety of stock market news, including "JAG Notes", the Company's flagship early morning consolidated research product. Through the Company's wholly-owned subsidiaries, Pixaya LLC and Pixaya (UK) Limited, the Company also provides various mobile video software and mobile video surveillance solutions for businesses. The Company's websites are located at www.jagnotes.com and www.pixaya.com.

About Cryptometrics, Inc.

Established in 2000, Cryptometrics is a leading provider of biometric solutions, building and integrating state-of-the-art systems designed to proactively protect the critical infrastructure of a nation and its businesses, including vital cyber assets. As part of its portfolio, CryptoMetrics offers an extensive bi-modal array of biometric devices, software and customized services including both fingerprint and facial recognition technologies.

While Cryptometrics' fingerprint authentication product solutions secure the transfer of and protect logical and physical points of access to critical systems and data, the Company's facial recognition products are designed to secure national borders, protect the traveling public, strengthen the security of travel and ID document issuance through comprehensive "identity management" and enhance personal identification in support of law enforcement, homeland security and first responder activities.

Safe Harbor Statement - Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and may contain forward-looking statements, with words such as "Anticipate, "believe," "expect," "future," "may," "will," "should," "plan," "projected," "intend," and similar expressions to identify forward-looking statements. These statements are based on the Company's beliefs and the assumptions it made using information currently available to it. Because these statements reflect the Company's current views concerning future events, these statements involve risks, uncertainties and assumptions. The actual results could differ materially from the results discussed in the forward-looking statements. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Accordingly, reference should be made to the Company's periodic filings with the Securities and Exchange Commission.

Contacts:

JAG Media Holdings, Inc.
Stephen J. Schoepfer, 888-828-4174
President & COO
steve@jagnotes.com
or
for Cryptometrics:
Integrated Corporate Relations
James McCusker, 203-682-8245
jmccusker@icrinc.com

Source: JAG Media Holdings, Inc.

Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By otc on 1/30/2007 8:12 AM
The OTC short numbers (not naked short) are out again. How is it possible that there is a legal short in OTC stocks? Since the shares are not marginable, how would one go about borrowing them?

Something fishy here.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By Sean on 1/30/2007 8:46 AM
I am sorry to say this but JAGH has just signed its own death warrant!! Any dealings with Cornell Capital will destroy any companies value. They are one of the worst vultures out there and I am talking from experience!!
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By Clearthinker on 1/30/2007 3:25 PM
No Sean, I disagree in this case. The merger with Cryptometrics is a HUGE deal for JAGH and very good for the shareholders. Crypto is a MAJOR homeland security player....don't worry......
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By InTheKnow on 1/30/2007 4:38 PM
I must agree with Clearthinker. This is just a transfer of Jagh's old liability to Cornell of an insignificant amount. Cryptometrics has its own financing. Cornell really has nothing to do with this merger of any significant importance.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By Sean on 1/30/2007 5:38 PM
Thanks I hope you both are right, I have seen first hand what Cornell's Financings have done to some if not all the companies they come into contact with. My only beef was that portion of the deal not the Merger part. Thanks again for your input!!
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By InTheKnow on 1/31/2007 5:00 AM
Forbes article on Cryptometrics worth rereading!!!

http://www.forbes.com/travel/2006/10/20/travel-passport-technology-life-travel-cx_sb_1023epass.html

EXCERPTS:


"Safe or not, the e-passport could be a windfall for security firms and their investors. The Washington-based Homeland Security Research Corporation projects that the global homeland security and homeland defense market will triple by 2015 to almost $180 billion. Biometrics is expected to play a significant role in that growing market.

Joel Shaw should know. Shaw convened the committee to develop the e-passport, a collaboration between the International Civil Aviation Organization, a Montreal-based body of the United Nations, and the International Standards Organization, a Geneva-based organization that coordinates the development and implementation of standards across a variety of industries.

The e-passport is on its way to becoming a global travel requirement--the U.S. issued an Oct. 26 deadline for the 27 European Union and other visa-waiver countries to prepare the technology to issue e-passports to their citizens. If they miss the deadline, foreign citizens who could once travel to the U.S. visa-free might now be required to apply for documents. Exclusion from the U.S. is a hefty price to pay, so the tech companies that can design and produce the technology to create, secure and read these passports at hundreds of airports in dozens of countries will be well-positioned.

"The profit opportunity is substantial," Shaw says.

Conveniently, Shaw is also chief strategy officer of Tuckahoe, N.Y.-based Cryptometrics, a private security technology company that specializes in providing facial biometric solutions to border security.

Cryptometrics has signed a contract to provide New Zealand with e-passport technology and is pursuing deals with other countries as well. Shaw won't reveal what the deal was worth, except to say that each one varies "from a few thousand dollars to several million." Cryptometrics is currently working on 50 or 60 such deals; in other words, the e-passport could make Shaw not just safer but much, much richer.


Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By Aguirre Update on 1/31/2007 5:43 PM
Two Senators Say Report Paints Picture Of 'Troubled Agency'

DOW JONES NEWSWIRES
January 31, 2007 6:37 p.m.

By Siobhan Hughes
Of DOW JONES NEWSWIRES

WASHINGTON (Dow Jones)--Two Republican senators Wednesday said the results of a preliminary investigation have cast doubt on the U.S. Securities and Exchange Commission's handling of an insider-trading probe and suggest that reforms may be needed.

"These findings paint a picture of a troubled agency that faces serious questions about public confidence, the integrity of its investigations, and its ability to protect all investors, large and small, with an even hand," said Sen. Charles Grassley, R-Iowa., in remarks on the Senate floor.

Sen. Arlen Specter, R-Pa., echoed comments he made last year and said that "at best, the picture shows extraordinarily lax enforcement by the SEC and it may even indicate a coverup by the SEC."

The lawmakers made the statements as they formally submitted an interim report based upon their findings. The report wasn't immediately available. Grassley said that the final report would be issued soon and would make recommendations to the SEC.

SEC spokesman John Nester said that "we have not yet had the opportunity to read the interim final report, but we respect and appreciate the oversight role of the Congress and we have fully cooperated at every stage of the review. We will carefully consider the report's findings and recommendations."

A former SEC enforcement attorney, Gary Aguirre, has said that he was conducting an insider-trading investigation of hedge fund Pequot Capital Management Inc. and that he sought to interview John Mack, who is a close friend of Pequot's chief, Arthur Samberg. Aguirre had suspected Mack of tipping off Pequot.

Aguirre has claimed that he was fired after his investigation got too close to Mack, who currently leads investment bank Morgan Stanley (MS). The SEC has already denied that Mack's "political clout" shielded him from questioning in an insider-trading investigation.

The SEC last year formally closed its probe into Pequot and Mack without recommending enforcement action.

"We hope that the SEC will reopen its investigation," Specter said.

-By Siobhan Hughes, Dow Jones Newswires; 202-862-6654; Siobhan.Hughes@dowjones.com
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By gregcable2002 on 1/31/2007 6:04 PM


A recent Newsweek poll alleges that 67 percent of Americans are unhappy with the
direction the country is headed and 69 percent of the country is unhappy with the
performance of the president. In essence 2/3s of the citizenry just ain't happy and
want a change. So being the Die Hard American that I am, I started thinking, ''What
are we so unhappy about?''

Is it that we have electricity and running water 24 hours a day, 7 days a week? Is our
unhappiness the result of having air conditioning in the summer and heating in the winter?
Could it be that 95.4 percent of these unhappy folks have a job? Maybe it is the ability to
walk into a grocery store at any time and see more food in moments than Darfur has
seen in the last year? Maybe it is the ability to drive from the Pacific Ocean to the Atlantic
Ocean without having to present identification papers as we move through each state?
Or possibly the hundreds of clean and safe motels we would find along the way that can
provide temporary shelter? I guess having thousands of restaurants with varying cuisine f
rom around the world is just not good enough. Or could it be that when we wreck our car,
emergency workers show up and provide services to help all involved. Whether you are
rich or poor they treat your wounds and even, if necessary, send a helicopter to take you
to the hospital.

Perhaps you are one of the 70 percent of Americans who own a home, you may be upset
with knowing that in the unfortunate case of having a fire, a group of trained firefighters will
appear in moments and use top notch equipment to extinguish the flames thus saving you,
your family and your belongings. Or if, while at home watching one of your many flat
screen TVs, a burglar or prowler intrudes; an officer equipped with a gun and a bulletproof
vest will come to defend you and your family against attack or loss. This is all in
the backdrop of a neighborhood free of bombs or militias raping and pillaging the residents
. Neighborhoods where 90 percent of teenagers own cell phones and computers.

How about the complete religious, social and political freedoms we enjoy that are the
envy of everyone in the world? Maybe that is what has 67 percent of you folks unhappy.
Fact is, we are the largest group of ungrateful, spoiled brats the world has ever seen.
No wonder the world loves the U.S. yet has a great disdain for its citizens. They see
us for what we are. The most blessed people in the world who do nothing but complain
about what we don't have and what we hate about the country instead of thanking the
good Lord we live here.

I know, I know. What about the president who took us into war and has no plan to
get us out? The president who has a measly 31 percent approval rating? Is this the
same president who guided the nation in the dark days after 9/11? The president
that cut taxes to bring an economy out of recession? Could this be the same guy
who has been called every name in the book for succeeding in keeping all the
spoiled brats safe from terrorist attacks? The commander-in-chief of an all-volunteer army that is out there defending you and me? Make no mistake about it.
The troops in Iraq and Afghanistan have volunteered to serve, and in many cases
have died for your freedom. There is currently no draft in this country. They didn't
have to go. They are able to refuse to go and end up with either a ''general''
discharge, an ''other than honorable'' discharge or, worst case scenario, a ''
dishonorable'' discharge after a few days in the brig.

So why then the flat out discontentment in the minds of 69 percent of Americans?
Say what you want but I blame it on the media. If it bleeds it leads and they
specialize in bad news. Everybody will watch a car crash with blood and guts.
How many will watch kids selling lemonade at the corner? The media knows this
and media outlets are for-profit corporations. They offer what sells. Just ask why they were going to allow a
murderer like O.J. Simpson to write a book and do a TV special about how he
didn't kill his wife. Insane!

Stop buying the negative venom you are fed everyday by the media. Shut off the
TV, burn Newsweek, and use the New York Times for the bottom of your bird cage.
Then start being grateful for all we have as a country. There is exponentially more
good than bad.

I close with one of my favorite quotes from B.C. Forbes in 1953: ''What have
Americans to be thankful for? More than any other people on the earth, we enjoy
complete religious freedom, political freedom, social freedom. Our liberties are
sacredly safeguarded by the Constitution of the United States, 'the most wonderful
work ever struck off at a given time by the brain and purpose of man.' Yes, we
Americans of today have been bequeathed a noble heritage. Let us pray that we may
hand it down unsullied to our children and theirs.''

I suggest we sit back and count our blessings for all we have. If we don't, what we
have will be taken away. Then we will have to explain to future generations why we
squandered such blessing and abundance. If we are not careful this generation
will be known as the ''greediest and most ungrateful generation.'' A far cry from
the proud Americans of the ''greatest generation'' who left us an untarnished legacy.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By ginger on 1/31/2007 8:40 PM
http://biz.yahoo.com/ap/070131/sec_hedge_fund.html?.v=1

Senators Question SEC Handling of Probe
Wednesday January 31, 9:40 pm ET
By Marcy Gordon, AP Business Writer
2 Senators Say Review Raises Serious Questions About SEC's Handling of Probe
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By antny@singsing on 2/2/2007 9:05 AM
Threshold list question. The 2/1/07 threshold list says there are 8,245 securities on it. But when you open the list to see the names, just 216 are listed. This is the Nasdaqtrader.com website. am I missing something?
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By antny@singsing on 2/2/2007 9:27 AM
just to clarify, this is when you go to the FTP layout of every threshold list going back to Jan 05 when it was introduced. There is a date then a number then an FTP file you can open to see the names. The number is the # of securities on the threshold list for that given reporting period. But when you open the FTP file, the #'s don't match. Again for 2/1/07 it says there are 8,245 securities on the threshold list. When you open the FTP file to see the names, there are just 216 listed.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By Sean on 1/26/2007 8:03 AM
If the SEC would go after the Criminals that steal the billions and possibly trillions of $$ from Joe investor with the same diligence as this guy then maybe we'll get somewhere, but I guess there would be a conflict of interest because they would be going after the very Companies that pay them those exhorbitant salaries after the do their year or 2 at the SEC!!!!

http://www.sec.gov/litigation/complaints/2007/comp19981.pdf
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By oldfeller on 1/26/2007 8:03 AM
The real loss is not the money. Everyone has financial setbacks in their lives. The real loss is the lack of confidence in our government when people realize that the government is not only ignoring the pleas of those wronged, it has taken steps to cover up and prolong such activity.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By InTheKnow on 1/26/2007 8:04 AM
For those that don't know that Naked Shorting is illegal let me explain:

1. Naked shorting is selling a stock that you don't have and never have any intention of delivering to the buyer.
2. The buyers brokerage house will put an eintitlement into the buyers account. This entitlement is an IOU. The buyer never owns anything but an IOU and the company of the stock sold will never issue a real certificate for an IOU. In otherwords you now own a counterfeit share of stock.
3. The brokerage house will say that you can sell the shares. However these shares your are selling are actually countfeit shares being passed off to another investor.
4. If you ask for your shares it will take time to get them. But you say how can I get shares if they are counterfeit. Well you are actually getting shares of another stockholder in the same firm. This is the PONZI scheme that perpetuates the naked shorting scam.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By SteveM on 1/26/2007 6:10 AM
I would like to take my company public... raise some cash to expand.

So, you say that I can get $50 million in an IPO? Sounds good. What's the downside?

Wall Street gets another $50 million by creating phantom shares in traders accounts that never got to my company. Can they really do that? And then another $50 million the next year by creating additional phantom shares... and again the next year, driving the trading value of my stock into the toilet? Is this legal?

What if I need additional money in a secondary offering? No option except a PIPE? Forget it.

I'll just go to another country's exchange for a listing. Screw Wall Street!
Sarbanes-Oxley is too burdensome!?! (Huh?)
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By antny@singsing on 1/26/2007 8:05 AM
bobo, see the WSJ article today exposing how hedgies abuse the stock lending system to rig corporate votes? didn't you talk about this months ago?
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By Count on it. on 1/26/2007 8:06 AM
Thank you for standing up to the cowards verbal abuse Mr Byrne.
The American public will support you until the truth is told and this mess is fixed. Count on it.

‘‘No one can go into a hospital’s pneumonia ward, smother whoever they want to, take their money in the nightstand, then leave saying, ‘Oh they were going to die anyway,’’’ Byrne said.
Re: Liz Moyer in Forbes: A Tale of Naked Shorting, Stock Manipulation, and Wrist-slaps for Miscreants By MikeP on