posted
From online WSJ: SEC Is Urged to Attack 'Naked' Short Selling September 21, 2006 11:29 p.m.; Page C3
WASHINGTON -- The Securities and Exchange Commission should do more to attack abusive short selling by tightening stock-borrowing requirements and requiring daily reporting on stock-delivery failures, some lawmakers and executives are saying.
"We believe that naked short selling continues to be a serious problem for a number of public companies," the U.S. Chamber of Commerce wrote in a Sept. 13 letter to the SEC.
Short sellers sell borrowed shares in hopes they can profit by replacing them later at a lower price.
"Naked" short sellers do not borrow shares they sell short, which some liken to counterfeiting.
This summer, the SEC proposed eliminating a controversial "grandfather" provision that exempted previously existing short sales from stricter rules. The plan was applauded in many of the comment letters to the SEC, which sought public reaction to the plan through Tuesday.
Francine Giani, executive director of Utah's Department of Commerce, warned in a letter that if the SEC can't deliver a national solution, Utah may "bring enforcement action" against firms causing settlement failures.
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SEC Is Urged to Attack 'Naked' Short Selling September 21, 2006 11:29 p.m.; Page C3
WASHINGTON -- The Securities and Exchange Commission should do more to attack abusive short selling by tightening stock-borrowing requirements and requiring daily reporting on stock-delivery failures, some lawmakers and executives are saying.
"We believe that naked short selling continues to be a serious problem for a number of public companies," the U.S. Chamber of Commerce wrote in a Sept. 13 letter to the SEC.
Short sellers sell borrowed shares in hopes they can profit by replacing them later at a lower price.
"Naked" short sellers do not borrow shares they sell short, which some liken to counterfeiting.
This summer, the SEC proposed eliminating a controversial "grandfather" provision that exempted previously existing short sales from stricter rules. The plan was applauded in many of the comment letters to the SEC, which sought public reaction to the plan through Tuesday.
Francine Giani, executive director of Utah's Department of Commerce, warned in a letter that if the SEC can't deliver a national solution, Utah may "bring enforcement action" against firms causing settlement failures.
Rat man you there?!! Just get out of jail or what?!! LOL ~
Yup!!!
No Jail time this week....so far... I am giving thought to wringing my sisters neck however,,,,,, this could change the entire freedom forcast...
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posted
The past couple of days the board has been sending out letters to people in regards to the situation with this stock...being nearly 76 MILLION in NAKED shorts... Have you not read the past dozen or so pages of the thread? Cause if not...simply read the last 2 PR's...
quote:Originally posted by maumee river rat:
quote:Originally posted by 10of13: I just RESENT everyone that I emailed yesterday the letter I sent PLUS the article that MNvestor found....
I'm lost.....
What did you do 10.... [/QB][/QUOTE]
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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quote:Originally posted by new2stocks: Bashers may exit? How nice would that be?
By: greedy_malone 21 Sep 2006, 12:48 PM EDT Msg. 381612 of 382088 Jump to msg. # This is my cue to exit the boards
I have been told a massive sting operation is underway by Federal officials from several departments including the FBI, CIA, Secret Service, State and local police to round up the naked short sellers and their associates.
I am told that there will be a rather significant departure of top level bashers on RB. Me being one of them.
If the legal arm of this investigation reaches me I want you to know this was done for the betterment of my family and that I did my best to remain inside the level of the law when I posted on RB. I do not believe any of my posts were ever illegal in nature or in violation of any securities regulations.
We have been told that a denial of service campaign is underway by the shorts to hamper the gathering of evidence by the Federal agents. I felt the need to have something posted here apologizing for any illegal actions I may have been a part of in hopes that there will be mercy shown to me if needed.
Sincerely,
greedy_malone
Everthing i say is just my opinion...so lighten up!
WTF???!!!
-------------------- "If you go the Extra Mile there will be no Traffic Jams".
By: greedy_malone 21 Sep 2006, 12:48 PM EDT Msg. 381612 of 382088 Jump to msg. # This is my cue to exit the boards
I felt the need to have something posted here apologizing for any illegal actions I may have been a part of in hopes that there will be mercy shown to me if needed.
Sincerely,
greedy_malone
Sounds like this dude is more scared than sorry!!!!
posted
i never checked ragging bull for a board... i rarely go to other boards, but in this stock i've have been checking other boards just to keep track of all the posters...
there is no CSHD board there now....
i wonder if there was one that got zapped? or maybe its undef FHAL?
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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