Media: Gary Matsumoto

Media

Gary Matsumoto is Executive Producer, News and Programming for CGTN America. He is an Emmy-award winning investigative reporter/producer in business.

As a foreign correspondent for NBC News and Senior Correspondent for the Fox News Channel, he won numerous awards for his reports from more than 40 countries on five continents, including an Overseas Press Club of America Ben Grauer Award for best radio spot news.

LinkedIn / Gary Matsumoto

Book: Vaccine A: The Covert Government Experiment That’s Killing Our Soldiers–and Why GI’s Are Only the First Victims

Article: Our Watchdogs and the Financial Scandal of the Century

Article - Media

Our Watchdogs and the Financial Scandal of the Century

Mark Mitchell

Deep Capture, 3 April 2009

“Accountability – Integrity – Reliability”

That’s the motto of the Government Accountability Office, and it almost makes you believe that there really is a functioning watchdog – somebody, aside from us Internet loons, to investigate and report on the incompetence and malfeasance that pervade our public institutions.

Certainly, there were high hopes when the GAO began investigating the Securities and Exchange Commission’s oversight of the Depository Trust and Clearing Corporation (DTCC), a black box Wall Street outfit that is at the center of one of the great financial scandals of our era.

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Article: Naked short sales hint fraud in bringing down Lehman

Article - Media

Naked short sales hint fraud in bringing down Lehman

Gary Matsumoto

Bloomberg, 22 March 2009

The biggest bankruptcy in history might have been avoided if Wall Street had been prevented from practicing one of its darkest arts. As Lehman Brothers Holdings Inc struggled to survive last year, as many as 32.8 million shares in the company were sold and not delivered to buyers on time as of September 11, according to data compiled by the Securities and Exchange Commission and Bloomberg. That was a more than 57-fold increase over the prior years peak of 567,518 failed trades on July 30. The SEC has linked such so-called fails-to-deliver to naked short selling, a strategy that can be used to manipulate markets. A fail-to-deliver is a trade that doesn’t settle within three days. We had another word for this in Brooklyn, said Harvey Pitt, a former SEC chairman. The word was fraud.

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Article: In Pursuit of the Naked Short by Alexis Stokes

Article - Academic

In Pursuit of the Naked Short

Alexis Stokes, Texas State University

Journal of Law and Business 5/1 (Spring 2009)

This article explores the origins of naked short-selling litigation; considers
the failures of significant naked short-selling lawsuits in federal court;
surveys the obstacles erected collectively by constitutional standing requirements, the Federal Rules of Civil Procedure, the Private Securities Litigation Reform Act, brokerage firms, death spiral financiers, and the Depository Trust and Clearing Corporation; examines the efficacy of Regulation SHO, SEC rule 10b-21, and new FINRA rules; discusses recent state legislation and state court litigation; and identifies non-litigation options to curb naked short-selling. Ultimately, this article seeks to answer the question: If manipulative naked short-selling is more than a mythological scapegoat for
small cap failure, what remedies are, or should be, available?

PDF (62 Pages): Article In Pursuit of the Naked Short

Article: Bringing Down Bear Began as $1.7 Million of Options

Article - Media

Bringing Down Bear Began as $1.7 Million of Options

Gary Matsumoto

Bloomberg cited by RGM Communications via Wayback, 11 August 2008

On March 11, the day the Federal Reserve attempted to shore up confidence in the credit markets with a $200 billion lending program that for the first time monetized Wall Street’s devalued collateral, somebody else decided Bear Stearns Cos. was going to collapse.

In a gambit with such low odds of success that traders question its legitimacy, someone wagered $1.7 million that Bear Stearns shares would suffer an unprecedented decline within days. Options specialists are convinced that the buyer, or buyers, made a concerted effort to drive the fifth-biggest U.S. securities firm out of business and, in the process, reap a profit of more than $270 million.

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