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Posts Tagged ‘DTCC’

Aguirre Addresses Likely Cause of Next Market Crisis: Selling Counterfeit Stock

Posted by Larry Doyle on November 1st, 2013 10:53 AM |

“The message is simple: Wall Street crime pays and there is no downside.”

Will there be another market crisis and if so what will precipitate it?

In what is an instant Sense on Cents classic, noted attorney and former SEC whistleblower Gary Aguirre takes us on a walk down the path that seems self-evident to me will cause our next market crisis.

Can you imagine if you discovered a businessman went about selling a product, collecting revenues on those sales, but never actually delivered the product sold?

Think that sort of fraud might attract the interest of the authorities? But what if the authorities, in this case our financial regulators, turned a blind eye to the practice? (more…)

UPDATE: Naked Short Selling, “Wall St. Conspiracy?”

Posted by Larry Doyle on May 16th, 2012 4:34 AM |

How many people in America today are questioning the very integrity of our markets?

More than we can measure.

Regrettably, there has been strong evidence of practices in selected corners of Wall Street which have violated the trust of investors, betrayed any semblance of fair dealing, and destroyed the development of otherwise viable businesses and companies.

Specifically a month ago, I introduced readers to the artifice of naked short selling in promoting a documentary, “The Wall Street Conspiracy.”

Yesterday, Bloomberg dropped a bombshell on this practice in reporting . . . . .  (more…)






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