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

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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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Tip: Go After Goldman Sachs for False Account Entries and Unearned Commissions

Tip

Tip as received via email:

how about the auditors of the major brokerage firms?

IF Goldman executed your trade they were paid a commission How do they record the commission? They didn’t earn it YET why because they never settled your trade so these open trades was never settled SO the income has not been earned

Its a liability to the firms.

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Book: Lessons Not Learned – 10 Steps to Stable Financial Markets

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Much has been written and spoken about  the lessons learned from the financial crisis of 2009. In this book, we list the lessons not learned before the financial crisis. The purpose of this book is to demonstrate that the theoretical and intellectual frameworks for regulating financial systems that had been available since at least 2001 could have prevented the systemic failure in the United States that led to the collapse of global credit markets in 2008.

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Academic: Susanne Trimbath, PhD

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Susanne Trimbath, Ph.D. is CEO and Chief Economist of STP Advisory Services. Dr. Trimbath’s credits include appearances on national television and radio programs and the Emmy® Award nominated Bloomberg report Phantom Shares. Dr. Trimbath served as a Technical Advisor to the California Economic Strategy Panel and Associate Professor of Finance and Business Economics at University of Southern California’s Marshall School of Business. Dr. Trimbath was formerly Senior Research Economist at the Milken Institute and Senior Advisor on the Russian capital markets project for KPMG.

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Article: How phantom shares on Wall Street threaten U.S. companies and investors

Article - Media

How phantom shares on Wall Street threaten U.S. companies and investors

Lucy Komisar

The Komisar Scoop, 26 March 2020

As stocks are in free fall, a scam run by the big banks/broker-dealers for the benefit of themselves and their hedge fund clients threatens to worsen the situation of large and small American companies and investors.

It’s when the bank/broker-dealers buy stocks, pocket the money and fail to deliver to clients the shares they are supposed to settle through the national stock clearing house. In another industry that might be called embezzling.

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Book: Naked, Short, and Greedy – Wall Street’s Failure to Deliver by Susanne Trimbath

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Rigged financial markets and hopeless under-regulation on Wall Street are not new problems. In this book, Susanne Trimbath gives a sobering account of naked short selling, the failure to settle, and her efforts over decades, trying to get this fixed.

Twenty-five years ago, Trimbath was working “backstage at Wall Street” when a group of corporate trust specialists told her about a problem in shareholder voting rights. When she went to senior management at Depository Trust Company (DTC), then and still the largest securities depository in the world, they brushed it off saying, “You can’t balance the world.”

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

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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: Geithner – Treasury Nominee Failed to Halt Bond Scam

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Geithner – Treasury Nominee Failed to Halt Bond Scam

Lucy Komisar

The Komisar Scoop, 19 January 2009

U.S. Senators at Timothy Geithner’s confirmation hearing for Treasury Secretary Wednesday may want to ask him about a failure to act that is costing the U.S. a lot more than the amount he evaded on taxes.

The Federal Reserve Bank of New York, which he has led since 2003, conducts the operations on Wall Street of the Federal Reserve in Washington, the country’s central bank.

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Letter: Susanne Trimbath to SEC on Proposed Amendments to Regulation SHO

Letter

Susanne Trimbath to SEC on Proposed Amendments to Regulation SHO

Susanne Trimbath

STP Advisory Services, LLC, 29 August 2006

I am a Ph.D. economist doing research and consulting in finance and economics. I am formerly Director of Transfer Agent Services for Depository Trust Company in New York, and Operations Manager for Pacific Depository Trust Company and Pacific Securities Clearing Corporation in San Francisco. I also was Senior Advisor for KPMG on the USAID Capital Markets Project to design and implement trade clearing and settlement operations during privatization in Russia. Over the last three years I have been a paid advisor to companies, investors and law firms on the issues addressed by Regulation SHO. My comments will reflect my expertise in economic analysis of law and market efficiency, plus securities processing operations.

PDF (14 pages): Susanne Trimbath to SEC on Proposed Amendments to Regulation SHO

Web: Criminals, Prosecutors, Financial Manipulators, and Their Incestuous Relationships

Web

Criminals, Prosecutors, Financial Manipulators, and Their Incestuous Relationships.

Bud Burrell

Sanity Check via Wayback, 3 April 2006

After the great hoopla of the the Bermuda Short Sting Case, which produced a conviction rate of about 88% of indictees, the silence from the Government on related collateral indictments in pending cases, some more than four years old, is literally deafening.

The Government’s various agencies really have an “NIH” (Not Invented Here) attitude towards grass root developed cases coming up to them not as a direct result of their own investigative initiative. I am aware of case after case taken to various agencies of the Government with substantive evidence attached, which were ignored, black-holed, or thrown back at the victims.

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Paper: Without a Trace: The Importance of Information in Markets

Paper

Without a Trace: The Importance of Information in Markets

Susanne Trimbath

Milken Institute Working Paper, January  2004

Economists and practitioners alike would agree that information plays an important role in capital markets. But the practical job of gathering, organizing and disseminating information in markets is too often left to chance. This paper dramatizes the difficulties that can occur when that happens by using the high yield market as an example. The transition from rapid expansion in the 1980s to stable growth in the 1990s was not without its informational road-bumps. The main point of the paper is to emphasize the importance of the informational role being played by industry organizations such as the Loan Syndication and Trading Association (LSTA) in the U.S.

PDF (14 pages): Without a Trace: The Importance of Information in Markets