Web: Why is Naked Short Selling Both Illegal and Common Practice?

Web

Why is Naked Short Selling Both Illegal and Common Practice?

First American Stock Transfer, undated

The Depository Trust & Clearing Corporation or DTCC (the final depository where all U.S. trades are settled and cleared) cannot settle fraudulent trades. According to the DTCC website, “We don’t have any power or legal authority to regulate or stop short-selling, naked or otherwise.”

While DTCC may not have the authority to regulate any short selling, it could create computer programs that would track share holdings to determine if they are real shares or simply entitled. Some believe that the DTCC chooses not to monitor these transactions more closely, because they make money on the interest and the loaning of these shares.

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Subject: Robert Menendez (D-NJ)

Subject of Interest

U.S. Senator Robert Menendez (D-NJ) is a minority member of the US Senate Committee on Banking. Bob received his B.A. from St. Peter’s College in Jersey City and his law degree from Rutgers University. He served as Chairman of the Senate Foreign Relations Committee in the 113th Congress. He also a Finance Committee member of the Senate Finance Committee and serves on the Subcommittee on Taxation and IRS Oversight and the Subcommittee on Health Care.

Biography

United States Senate Committee on Banking

Subject: Jack Reed (D-RI)

Subject of Interest

U.S. Senator Jack Reed (D-RI) is a minority member of the US Senate Committee on Banking. Reed was elected to Senate in 1996 and has served three terms in the Rhode Island State. Reed earned a master’s degree in public policy from Harvard’s John F. Kennedy School of Government and received a law degree from Harvard Law School. He then became an attorney in private practice, first working as an associate with the law firm of Sutherland, Asbill, & Brennan before moving back to Providence and working for the firm of Edwards & Angell. Reed also served in the U.S. Army and taught economics and international relations as an Associate Professor within the Department of Social Sciences at West Point. He serves on the Appropriations Committee, and Subcommittee on Transportation, Housing, and Urban Development.

Biography

United States Senate Committee on Banking

Subject: Sherrod Brown (D-OH)

Subject of Interest

U. S. Senator Sherrod Brown (D-OH) is a minority member of the US Senate Committee on Banking. He was elected to the Senate in 2007. Prior to serving in the United States Senate, Brown served as a United States Representative for the 13th District, Ohio’s Secretary of State, a member of the Ohio General Assembly, and has taught in Ohio’s public schools and at The Ohio State University. He also serves on the Senate Committee on Finance and has served on the Senate Agriculture, Nutrition, and Forestry Committee, and he served Chairman of the Subcommittee on Jobs, Rural Economic Growth and Energy Innovation.

Biography

United States Senate Committee on Banking

Article: Wall Street Recommends Buying These 2 Falling Knives

Article - Media

Wall Street Recommends Buying These 2 Falling Knives

Alberto Abaterusso

Guru Focus, 13 April 2020

Sell-side analysts on Wall Street recommend to buy shares of Stemline Therapeutics Inc (NASDAQ:STML) and KalVista Pharmaceuticals Inc (NASDAQ:KALV), even though their share prices have lost more than 59% over the past 52 weeks through April 10. Due to such tumbles, these stocks are known as falling knives.

Subject: David Perdue (R-GA)

Subject of Interest

    U.S. Senator David Perdue (R-GA) is a minority member of the US Senate Committee on Banking. He is the senior United States Senator from Georgia. David has over 40 years of business experience as the former CEO of Reebok athletic brand and Dollar General stores. For the 116th Congress, David serves on the Armed Services and Foreign Relations committees. He graduated from Georgia Tech and earned a degree in industrial engineering and a master’s in operations research.

    Biography

    United States Senate Committee on Banking

     

    Subject: Martha McSally (R-AZ)

    Subject of Interest

    U. S. Senator Martha McSally (R-AZ) is a minority member of the US Senate Committee on Banking. She was sworn into the Senate in 2019.  She previously represented Arizona’s second congressional district for four years in the United States House of Representatives. Prior to serving in Congress, Senator McSally served 26 years in the U.S. Air Force. She also has committee assignments to Energy & Natural Resources, Armed Services Committee, Indian Affairs Committee, and Special Committee on Aging.

    Biography

    United States Senate Committee on Banking

    Subject: John Kennedy (R-LA)

    Subject of Interest

    U. S. Senator John Kennedy (R-LA) is a minority member of the US Senate Committee on Banking. He was elected to the U.S. Senate in 2016. He also serves on the Appropriations, Budget, Judiciary and Small Business & Entrepreneurship committees. He serves as the chairman of the Senate Appropriations subcommittee Financial Services and General Government. Prior to his election to the Senate, Kennedy was state treasurer of Louisiana for five terms.  Sen. Kennedy served as secretary of the Department of Revenue, special counsel to Gov. Roemer and secretary of Gov. Roemer’s Cabinet. He was also an attorney and partner in the Baton Rouge and New Orleans law firm of Chaffe McCall.

    Continue reading “Subject: John Kennedy (R-LA)”

    Subject: Jerry Moran (R-KS)

    Subject of Interest

    U. S. Senator Jerry Moran (R-KS) is a minority member of the US Senate Committee on Banking.  He was elected to the United States Senate in 2010.  Moran serves as chairman of the Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies. Before his election to public office, Senator Moran attended Fort Hays State University and later the University of Kansas, where he completed a degree in economics. After an early career as a small town banker, he received his J.D. from the University of Kansas.

    Biography

    United States Senate Committee on Banking

    Subject: Kevin Cramer (R-ND)

    Subject of Interest

    U.S. Senator Kevin Cramer (R-ND) is a minority member of the US Senate Committee on Banking.  He was elected to the United States Senate on November 6, 2018 after serving three terms as North Dakota’s At-Large Member of the United States House of Representatives.  He  also serves on the Armed Services, Environment and Public Works, Veterans Affairs. Cramer has a Bachelor of Arts degree from Concordia College in Moorhead, Minnesota, a Master’s degree in Management from the University of Mary in Bismarck, North Dakota, and was conferred the degree of Doctor of Leadership, honoris causa, by the University of Mary on May 4, 2013.

    Biography

    United States Senate Committee on Banking

    Target(s): Law Firms That File Class Action Solicitations or Threats of SEC or Civil Lawsuits Against Companies As They Are Being Bashed by Naked Short Sellers in Seeking Alpha and Naked Sold

    Target (Organization of Interest)

    The following law firms are known to be aggressively and simultaneously filing class action solicitations or threats of SEC or civil lawsuits against companies as they are being bashed by naked short sellers in Seeking Alpha or Naked Sold. They should be sued for conspiracy, intimidation, tortious interference, and more.  The individual partners, whose bios will appear on  this site shortly, should be sued individually.

    In alphabetical order:

    • Bragar Eagel and Squire
    • Howard G. Smith
    • Pawar Law Group
    • Pomerantz LLP
    • RM Law Group
    • Rosen Law Firm
    • Schall Law Firm
    • Wolf Haldenstein Adler Freeman & Herz LLP

    Continue reading “Target(s): Law Firms That File Class Action Solicitations or Threats of SEC or Civil Lawsuits Against Companies As They Are Being Bashed by Naked Short Sellers in Seeking Alpha and Naked Sold”

    THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?