Month: January 2006

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Web: Who is responsible for the Current Market Counterfeiting Crisis?

Web

Who is RESPONSIBLE for the Current Market Counterfeiting Crisis?

Bud Burrell

Sanity Check via Wayback, 31 January 2006

Besides transfer agents, our legislature have only one agency of significance that reports directly to them outside the Cabinet system. It is the Securities and Exchange Commission. The power the SEC has is granted it by legislative acts (called laws, not rules) of the Congress and the Senate.

When the SEC fails to discharge its duties authorized to it by Congress, they may fail to discharge a delegated authority, but the responsibility remains squarely on the shoulders of its enabling Branch, the bi-cameral legislature of the US Government. If the responsibility for the performance of agencies under the Executive branch sits on the shoulders of the US President, so does the performance of the SEC, good or bad, go to the credit or discredit of the Legislative Branch. If the SEC doesn’t get the funding it needs to discharge its duties, Congress and the Senate are to blame.

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Article: Manipulation and Markets

Article - Media

Manipulation and Markets

Steven Syre

The Boston Globe cited  by RGM Communications via Wayback, 31 January 2006

American Business Financial Services Inc. was a big business with serious problems long before it ended up on the bankruptcy liquidation scrap heap. The company’s line on its own slow-motion demise relied heavily on stock market conspiracy theories.

The Philadelphia subprime lender has filed several lawsuits claiming illegal market manipulation by investors trying to profit on the company’s woes. The latest version was filed last month in federal court in Delaware by its bankruptcy trustee against Boston Partners Asset Management.

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Web: Where is the US Department of Labor on Theft of ERISA and Retirement Funds

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Where is the US Department of Labor on Theft of ERISA and Retirement Funds

Bud Burrell

Sanity Check via Wayback, 30 January 2006

Where is the Department of Labor in the total breakdown in surveillance of fraud against US individual and other pension and retirement assets? This is a fundamental responsibility of this Agency according to the Employee Retirement Income Security Act of 1974. Under their oversight (an oxymoron?), some $4 Trillion or more has been stolen from the savings of US investors placed in their retirement and pension accounts.

Why hasn’t anyone else addressed this issue? Why is the silence of DOL on this issue so total, literally deafening in it silence? It appears everyone responsible for protecting individual investors has deferred to the interests of the very wealthy and their front organizations, particularly hedge funds. What would happen if every small American simply stopped putting money into the market? That is what the markets deserve for their corruption, venality and arrogance.

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Release: DTCC Corrects Misrepresentation on Naked Short Selling Litigation

Release

DTCC Corrects Misrepresentation on Naked Short Selling Litigation

27 January 2006

The Depository Trust & Clearing Corporation today announced its intention to correct the continuing misrepresentation being put out by third parties on DTCC and naked short selling litigation.

To date, 14 suits have been brought against DTCC or its subsidiaries involving naked short selling. Of these 14 cases, 9 were either dismissed by the courts or withdrawn by the plaintiffs. In 4 cases, suits were filed, but DTCC and its subsidiaries were never served.

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Web: Criminal Syndicalism a Class A Federal Felony, Viewed at Insurrection and Sedition (that’s Treason for the Non-Law Types)

Web

Criminal Syndicalism a Class A Federal Felony, Viewed at Insurrection and Sedition (that’s Treason for the Non-Law Types)

Bud Burrell

Sanity Check via Wayback, January 18 2006

I was prompted to search Federal Criminal Code for references to how manipulative criminal syndicates were viewed under the Law of the United States. This search led me to two pages in Eustace Mullins’ controversial book, “The World Order”, published in 1985. On page 214, I found that according to his research, prior case law going back to the mid-1800’s viewed “combinations of capitalist and financiers for the purpose of manipulating from a large capital foundation/source to be directly chargeable as “Insurrection and Sedition”. That’s Treason for you non-lawyers out there.

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Web: Rod Young, Eagletech CEO’s Open Letter on the Shorting Scandal, a Classic

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Rod Young, Eagletech CEO’s Open Letter on the Shorting Scandal, a Classic

Bud Burrell, Rod Young

Sanity Check via Wayback, 17 January 2006

Today, more than one month later, the records have not been forthcoming as ordered by the court. Instead, as First Deputy General Counsel for the DTCC, I believe you have undertaken a campaign to disseminate misinformation, lies, and half-truths when confronted with facts made public by your detractors.On March 5, 2005 one day after the announcement of the aforementioned court ruling, your interview @dtcc.com, entitled “Naked Short Selling and the Stock Borrow Program”, stated: “One of these companies has been cited for failing to file financial statements since 2001.” Congratulations! You did get one right. On February 15, 2005, the Securities and Exchange Commission deemed it necessary for the protection of investors to institute proceedings pursuant to Section 12(j) of the Securities Exchange Act of 1934 In the Matter of Eagletech Communications, Inc., Respondent.

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Web: Right Makes Might, Courtesy of Abraham Lincoln, February 27, 1860

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Right Makes Might, Courtesy of Abraham Lincoln, February 27, 1860

Bud Burrell

Sanity Check via Wayback, 16 January 2006

I offered a former SEC Regulatory Counsel access to my files (certainly the most comprehensive of any expert in this matter). When I told him the sheer size of the files and suggested he might want me to parse them to him, he said “I’ll call you.” Right. It was obvious he wanted plausible deniability. I expected no call, and got none.

Having said that, this morass is turning into a situation analogous to the stage Slavery was in 1860, when Lincoln made his great speech at Cooper Union in New York City, containing the third element of his statement supporting the concept of “Right makes Might.”

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Web: Federal Regulators Continue to Deny Scope and Implications of Counterfeiting

Web

Federal Regulators Continue to Deny Scope and Implications of Counterfeiting

Bud Burrell

Sanity Check via Wayback, 10 January 2006

Over the past three years, Federal Regulators have continued to systematically deny the evidence of the existence of massive fails to deliver from numerous sources, many of which have gotten credible exposure on numerous levels from highly informed parties that these regulators can not dismiss out of hand. The implications are many, but the most serious are those connected to a massive counterfeiting conspiracy, conducted by a very sophisticated coterie of parties who have been affiliated with one another for literally decades through varying sides of the securities industry, both buy and sell side.

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THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?