Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
Two traders arrested over alleged manipulation of more than 2,000 stocks
Francine McKenna, MarketWatch, 13 December 2016
Joseph Taub and Elazar Shmalo allegedly used dozens of accounts at several brokerage firms in bouts of manipulative trading activity
Comment: We are shocked, shocked. But this is just a cover-up. Martha Stewart Plus One. SEC and DOJ are RICO organizations overseen by the Senate Banking Committee, the Deep State’s enabler of white collar treason and crime.
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.
Naked Short Selling: How Exposed are Investors?
James W. Christian, Robert Shapiro, John-Paul Whalen
The Houston Law Review, 10 November 2006
Regulation SHO is a start, but in order to guarantee a fair market place, the SEC must close the loopholes in Regulation SHO and institute comprehensive reforms to the clearing and settlement system. Until the SEC makes these necessary reforms and addresses the DTCC’s mismanagement of the Stock Borrow Program, investors will continue to be exposed to the manipulative potential of naked short selling.
PDF (58 Pages): HLR Naked Short Selling 2006-11-10
NY Press Dead Silent on SEC Cover-Up, Except For Forbes’ Liz Moyer
Bob O’Brien
Sanity Check, 21 August 2006
Maybe if we don’t talk about the SEC cover-up, it never happened?
That seems to be the way our venerated NY press corps is treating the FOIA data on Global Links – the topic of the last two blogs, and of a Forbes article on Friday.
This is playing out like the Dan Rather incident, but times ten. Bloggers and a few mainstream pubs get it and break the story, while the media circles its wagons and goes into denial mode.
Anyone surprised? Note that there is nothing from the WSJ, nothing from the NY Times, nothing from Barron’s, nothing from the NY Sun, nothing from TheStreet.com or Marketwatch, nothing from CNBC, nor Bloomberg, nor AP, nor Reuters…not even from the Post.
Sell-out: Why hedge funds will destroy the world
Janet Bush
NewStatesman, 31 July 2006
Something ominous is going on in world finance – again. On 11 May, the US Federal Reserve, America’s central bank, raised rates and hinted that it might do so again. Wall Street wobbled but stock markets in the emerging economies fell through the floor. Since that day, Colombia’s stock market has slumped by 42 per cent; Turkey’s by 38 per cent; Pakistan and Egypt by 28 per cent; India by 25 per cent; the Czech Republic by 22 per cent.
Lawsuits Accuse “Prime Brokers” of Securities Fraud
Wayne Jett
San Gabriel Valley Tribune cited by RGM Communications via Wayback, 19 July 2006
Two class-action lawsuits filed in Manhattan federal court in April allege fraud by the world’s largest “prime brokers” in securities lending practices.
Goldman Sachs, Bear Stearns, Lehman Brothers, Morgan Stanley, Merrill Lynch, Citigroup, Banc of America Securities, Credit Suisse, Deutsche Bank Securities, UBS Financial and Bank of New York allegedly charge high fees to lend securities for short selling, but fail to deliver the securities sold short by hedge funds.
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.
Mark Faulk
FaulkingTruth.com cited by RGM Communications via Wayback, 20 September 2005
In yet another twist in the stock market scandal known as Stockgate, the Faulking Truth has learned that Senator Richard Shelby (R-AL), Chairman of the Senate Banking Committee, has shelved a planned Senate Subcommittee Hearing investigating the issue. Originally scheduled for February of this year, and then postponed several times, the hearing, which has been advocated by Senator Robert Bennett (R-UT), has been cancelled indefinitely.
According to a reliable source inside of the planned investigation, “The authority and the responsibility to take the necessary steps to deal with the issue of naked short selling lies squarely at the feet of Senator Shelby, and he has chosen not to allow the planned Senate Banking Subcommittee hearing to go forward.” In an earlier interview with the same source, we were told that “Senator Shelby tends to grab things like this for his own purposes, and his own purposes don’t always mesh with what’s best for the public.”
The Naked Truth on Illegal Shorting
Karl Thiel
The Motley Fool cited by RGM Communications via Wayback, 24 March 2005
It’s amazing how the word “naked” can liven up a discussion. Take naked short selling, for instance. The addition of this saucy little word turns the mundane act of borrowing and selling shares of stock in hopes of buying them back later at a lower price into a raging controversy fraught with conspiracy, secret identities, public recriminations, foreign intrigue, sports team owners, and now some of the top regulators in the land.
How can one word cause so much trouble? While legal short sellers must borrow the shares they sell, naked short sellers sell shares of stock they haven’t borrowed, have no intention of borrowing, and that may not even exist. Not surprisingly, this activity is illegal and has been since the Securities and Exchange Act of 1934. But for a number of reasons, regulators have overlooked it in the past.
THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?
