Posts Tagged ‘naked short selling’
Posted by Larry Doyle on July 3rd, 2014 7:26 AM |
Selling counterfeit stock would seem to be a nefarious undertaking worthy of meaningful exposure.
It is.
A recent suit against the SEC under the Freedom of Information Act looks to do just that. Let’s navigate as the law offices of highly acclaimed and widely respected SEC whistleblower Gary Aguirre recently released the following statement:
Lawsuit seeks to tear down SEC’s veil of secrecy
Journalist Mark Mitchell has filed a lawsuit under the Freedom of Information Act against the Securities and Exchange Commission (SEC) to obtain the agency’s investigative files relating to more than a dozen aborted investigations and cases involving naked short selling. (more…)
Tags: Deep Capture, FOIA, Gary Aguirre Mark Mitchell, in bed with Wall Street, lawsuit against SEC for naked short selling, Mark Mitchell lawsuit against SEC, naked short selling, SEC, selling counterfeit stock, what is naked short selling
Posted in General, naked short selling | 2 Comments »
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…)
Tags: A Tale of Two Frauds, A Tale of Two Frauds Part II, DTCC, Equity Markets, failure of self regulation, for profit equity exchanges, Gary Aguirre Wall Street Lawyer, internalization, naked short sales, naked short selling, Regulation SHO, selling counterfeit stock
Posted in Equity Markets, fraud, Gary Aguirre, General, naked short selling | 3 Comments »
Posted by Larry Doyle on February 25th, 2013 9:27 AM |
Last summer I tagged Wall Street’s industry funded police at FINRA as being little more than meter maids. With a recent review of FINRA’s largest fine imposed in its history, I now realize that I have actually done a serious disservice to those diligent and hard working meter maids patrolling our cities and towns. How so?
Let’s navigate and look more deeply into FINRA’s $12 million fine imposed on those paragons of virtue who ran Union Bank of Switzerland’s equity operations.
What did UBS do to deserve FINRA’s “largest” fine? (more…)
Tags: FINRA and Reg SHO, FINRA fine of UBS for naked short selling, FINRA meter maids, FINRA's largest fines, how does naked short selling work, how widespread was naked short selling, integrity of the marketplace, naked short selling, Securities Technology Monitor, UBS equity operations, UBS naked short selling, UBS violation of Reg SHO, Union Bank of Switzerland, what is Reg SHO
Posted in FINRA, General, naked short selling, UBS, Wall Street Washington Incest | 3 Comments »
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…)
Tags: DTCC, Eliot Spitzer, Goldman Merill E-Mails Show naked Shorting Filing Says, Goldman Sachs naked short selling, Kristen Copeland, Larry Doyle, Michael DuVally Goldman Sachs, naked short selling, naked short selling SEC, Overstock.com, Patrick Byrne, procedures schmecedures, Sense on Cents, The Wall Street Conspiracy, Thomas Tranfaglia Merill Lynch, Wenner Media, Wes Christian, what is naked short selling, William Halldin Bank of America
Posted in General, naked short selling | 4 Comments »
Posted by Larry Doyle on April 17th, 2012 7:54 AM |
Do readers recall Dick Fuld, then CEO of Lehman Brothers, railing against hedge funds that were attacking the once venerable firm by aggressively shorting its stock? Fuld maintained that these aggressors were engaged in a practice known as ‘naked short selling’ and that they brought Lehman to its knees in the process.
The last four years have brought us plenty of intrigue and innuendo about a host of illegal and illicit practices on and off Wall Street, but we have heard and seen little about this practice. Why? What questions need to be addressed on this topic? (more…)
Tags: Carl Hagberg Wall Street Conspiracy, Darren Saunders Activist, Dave Patch Activist, Dick Fuld, he's a crook Patrick Byrne, helen Avery US Editor Euromoney Wall Street Conspiracy, Jim Cramer Wall Street Conspiracy, John Harmer Wall Street Conspiracy, John O' Quinn Wall Street Conspiracy, Jonathan Feldman Eastern Savings Bank, Kristina Leigh Copeland, Larry Doyle Wall Street Conspiracy, Mark Faulk Wall Street conspiracy, naked short selling, optionsXpress, Overstock.com, Patrick Byrne CEO of Overstock, Reg SHO, Robert Shapiro Wall Street Conspiracy, SEC Charges Broker in Short Selling Scheme, Sense on Cents Wall Street Conspiracy, stock market fraud, Susanne Trimbath, they ripped off America, Wall Street conspiracy, Wes Christian lawyer Wall Street Conspiracy, what is naked short selling
Posted in General | 24 Comments »
Posted by Larry Doyle on March 21st, 2012 8:36 AM |
More and more we see central bankers around the world — but especially here at home and within the EU — engaged in financial repression as THE means to solve our economic woes.
What is financial repression?
A term that describes measures by which governments channel funds to themselves as a form of debt reduction. This concept was introduced in 1973 by Stanford economists Edward S. Shaw and Ronald I. McKinnon. Financial repression can include such measures as directed lending to the government, caps on interest rates, regulation of capital movement between countries and a tighter association between government and banks.
What are the challenges faced by investors in an era of financial repression? (more…)
Tags: bank bondholders, capital controls, central bank balance sheet expansion, chances of hyperinflation, chances of long term inflation, coercive exchanges, consequences of financial repression, definition of financial repression, feeling repressed, financial repression, financial transaction tax, forms of financial repression, Heading for the Great Repression?, how does financial repression work, interest rates, kick the can down the road, kicking the can, long term impact of financial repression, market distortions, market manipulations, naked short selling, nationalization of financial institutions, prior financial repression, Stanford economist Ronald I. McKinnon, Stanford economists Edward S. Shaw, types of financial repression, Uncle Sam economy, what is financial repression, why are interest rates so low
Posted in fiscal policy, General, monetary policy | 2 Comments »
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