August 29, 2005 Naked Short Selling Subpeonas Issued to Firms
The stock loan departments of 35 brokerage firms are now being issued subpoenas. The subpeonas were issued by the Department of Justice as well as the Securities and Exchange Commission. This is most definitely in connection with the ongoing practice of naked short selling. It is defined as selling short without borrowing the necessary securities to make a delivery, thus resulting in a failure to deliver the securities to the rightful owner. The main goal of naked short selling is to engage in harmfully affecting the price creating downward pressure on the security. Today, that pressure is being forced upon various brokerage firms that have failed to stop the practice, even with the installment of Regulation SHO, which was supposed to prevent naked short selling. More to come soon as the Fed is finally starting to crack down.
Posted by YellowSubmarine on :
"..GOoooooooooooooooooooooooooo D-O-J....."!!!
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Posted by BeginnersLuck on :
YES!!!!
Posted by Purl Gurl on :
I cannot find any news on this through media sources.
Posted by NaturalResources on :
quote:Originally posted by Purl Gurl: I cannot find any news on this through media sources.
It is a lie made up by that crook Cox and his buddy Bush
Posted by BuyTex on :
just the one blogger, from what I can tell so far. Popped up a coupla days ago. x-ing my fingers he has inside dope...but not placing any bets...
Posted by Purl Gurl on :
"It is a lie made up by that crook Cox and his buddy Bush"
I figured as much.
Posted by YellowSubmarine on :
The DOJ is finally on the freakin' NSS case...................
Can you imagine what will happen to the Pennies and Pinks when even the Mega-Libbo-&-in-bed-with-the-MFMMMs-rag the "..New York Slimes.." is forced to print this '..Raping-of-the-American-Investor.." story - in their own hometown..!!!
After they read all about it in the Christian Science Monitor or their personal copy of the Choich of Schine-on-tology and the Tequila Sunrise Weekly of course...!!!