Article: Has Wall Street Stolen $100 Trillion from the American Public? Will Donald Trump Get It Back?

Article - Media

Has Wall Street Stolen $100 Trillion from the American Public? Will Donald Trump Get It Back?

Tehran Times, May 26, 2020 – International

TEHRAN – Robert David Steele, a former Marine Corps infantry officer and CIA spy as well as an activist for Open Source Everything Engineering (OSEE), contributes regularly to Tehran Times.

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Academic: Robert J. Shapiro

Academic

Robert J. Shapiro (born 1953) is the cofounder and chairman of Sonecon, LLC, a United States private consultancy for economic and security-related issues that has built a reputation on a range of policy matters, including climate change, intellectual property, securities fraud, healthcare reform, demographics, the resilience of the electric grid to cyberattacks, and blockchain technologies.

Beyond Dr. Shapiro’s responsibilities and leadership at Sonecon, he is also currently a Senior Fellow of the McDonough School of Business at Georgetown University, a board member of the Medici Venture Fund, and a member of the advisory boards of Gilead Sciences and Cote Capital.

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Web: Wikipedia – Naked Short Selling

Web

Naked Short Selling

Naked short selling, or naked shorting, is the practice of short-selling a tradable asset of any kind without first borrowing the security or ensuring that the security can be borrowed, as is conventionally done in a short sale. When the seller does not obtain the shares within the required time frame, the result is known as a “failure to deliver” (“FTD”). The transaction generally remains open until the shares are acquired by the seller, or the seller’s broker settles the trade.

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Article: ‘Naked short selling’ probed in new documentary

Article - Media

‘Naked short selling’ probed in new documentary

ctpost, 12 April 2012

Years before the financial collapse of 2008, Greenwich writer-director Kristina Leigh Copeland was digging into Wall Street irregularities that she believed could have a devastating impact on the economy.

Along the way, however, her fictional screenplay, “Blue Chip,” evolved into the new documentary “Wall Street Conspiracy,” which Copeland sees as the first in a series of muckraking nonfiction movies about issues with global impact.

Article: Naked Shorting Will Cause U.S. Exchange Exodus

Article - Media

Naked Shorting Will Cause U.S. Exchange Exodus

Bud Burrell

Financial Wire, 5 August 2010

This week, an important online news service released an article that should send shockwaves into our public markets. In very curt form, the article chronicles the many abuses of U.S. public companies by short selling manipulators, particularly through naked short selling and regular and derivative based synthetic shorting. By implication, the article recites the sheer embarrassing ineffectiveness of our regulators, who are engaged in a pattern of systematic conflicts of interest with revolving doors that are a major disgrace to our own government.

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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

Web: Naked in Wonderland

Web

Naked in Wonderland

Patrick Byrne

Forbes via Wayback, 23 September 2008

Recent concerns about short-selling have culminated in a regulatory flurry of emergency orders and amendments. What should be of concern, however, is not short-selling per se: As its devotees frequently remind us, short-selling is a vital and legitimate market activity. What should be of concern are specific types of stock manipulation that cloak themselves within legitimate activities such as shorting, and which, in one way or another, rely upon loopholes in our nation’s system of stock settlement.

“Settlement” is the moment in a stock trade when the seller receives money and the buyer receives stock. Our settlement system has gaping loopholes that allow sellers to sell shares but fail to deliver them. In such cases, the system creates IOUs for shares, and lets those “stock IOUs” circulate in the expectation the seller will soon correct his error. This is harmless–as long as the IOUs are inadvertent, temporary and few.

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