Victim: David Patch

Victim - Individual

David Patch is an engineer and Wall Street investor. He became an activist after becoming a victim of naked short selling. He is one of the stars in The Wall Street Conspiracy (2012) documentary. Patch filed Freedom of information requests on various companies to research “fails to deliver” only to discover these crimes were happening every day on Wall Street and nothing was being done about it. He began an online petition against naked short selling and started a website called directed at congress and to raise awareness of the $1 Billion investor fraud orchestrated by SEC. He was also known as one of the “dirty dozen” that took to the streets to raise awareness of these financial crimes.



Article: Crisis of Convenience for Roiling SEC

Article - Media

Crisis of Convenience for Roiling SEC

David Patch via Wayback, 30 October 2008

To say that support for the Securities and Exchange Commission is at an all time low would be an understatement. With Congressional Investigations into the agencies handling of critical investigations and recent reports out of the Office of Inspector General, investors are left guessing as to what exactly the agency is doing to police our markets. Heck, even a presidential candidate has suggested that the SEC Chairman should be fired and it was his party that hired him.

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Web: SEC Discovers That Unbridled Naked Short Selling Might Actually Be, Er, Not So Good….


SEC Discovers That Unbridled Naked Short Selling Might Actually Be, Er, Not So Good….

Bob O’Brien

Sanity Check via Wayback, 15 July 2008

What we are seeing is the US markets relentlessly melting down, as even the bulge bracket firms, and the “too big to fail” entities, are victimized by unbridled, unconstrained naked short selling. Exactly as used to be the case in the 1920’s. Exactly in the manner that resulted in the SEC being formed, and the uptick rule (discarded just a few short months back as an anachronism), and requirements for timely clearing and delivery. All of which the SEC has basically ignored, very deliberately.

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Letter: To SEC from Dave Patch on Tick Test


January 12, 2007

Ms. Nancy M. Moms Securities and Exchange Commission 100F Street, NE Washington D. C., 20549-1090

As a follow-up to my previous memo regarding this proposal to eliminate the tick test/ price test, I would like to further emphasize the concerns the public has with regards to the regulations of market making activities as they pertain to this proposed and all other short sale regulations.

Continue reading “Letter: To SEC from Dave Patch on Tick Test”

Article: Naked [Short Selling] Horror


Naked Horror

Liz Moyer

Forbes, 25 August 2006

Suspicious trading last year in shares of Global Links, a small Nevada real estate holding company, was far more intense than previously thought.

Data released to Patch earlier this month had shown trade fails of 10 million shares starting in mid-April, a time when 4 million shares of Global Links were issued and outstanding.

Web: Lies, Invention, Journalists, and the SEC


Lies, Invention, Journalists, and the SEC

Bob O’Brien

Yahoo as cited by Sanity Check via Wayback, 21 August 2006

The subject matter, Mark Cuban’s ill-conceived stock bashing website that’s nothing more than a foil to slam his short positions, is the ostensible topic. I haven’t even bothered commenting on the site, as it’s pretty obvious to most upright bipeds what is being done there.

But this article is astounding – I literally thought that the guy who emailed me the link was making it up.

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