The corruption of the SEC, over decades and till today
Lucy Komisar, 06 June 2021
The Securities and Exchange Commission, set up after the 1929 stock market crash, has been a corrupt operation captured by the stock brokers and Wall Street actors it was supposed to regulate. Here is the history, told in a video I did for Superstonk.
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How corrupt brokers, hedge funds with govt & media facilitators steal from stock market investors
My interview on the Superstonk youtube channel tells through three dramatic stories how corrupt brokers, hedge funds and their accomplices in government and the media steal from stock market investors. Superstonk is the investor site started by retail buyers of GameStop whose buys pushed up the stock price and cost hedge fund short sellers billions.
The key is naked short selling, when traders sell stocks they do not own, claiming they have borrowed or located where they can borrow them, and then never deliver the shares to buyers. More shares in the market drives their price down. Short sellers plan to then buy the shares at a cheaper price and deliver them. Or often they don’t deliver them at all. They “fail.”
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