http://news.yahoo.com/s/nm/20090302/ts_nm/us_ubs_usa_official;_ylt=AnozVSe69Ct1Dr6iOZP9FV934T0D

http://www.cnbc.com/id/15840232?video=1047490447&play=1

WHY….becuase I’d rather take a chance and get fleeced by these operators then knowing , the government , including the CIA, IRS, FBI, HS, SEC, and the Media, are doing nothing about these accusations.

Look if you know about these things, I am sure they know more. So please STOP, you are freaking me out and i don’t want to go postal.

And even worse, the elected ones seem to be just as bought off right across the board as well.

What has happened to our Country? Or has it ever been what we thought it was?

God help us!

The letter seems to be have scrubbed from the internet. I had found it online a couple months ago, but it seems to be gone now.

http://www.thesanitycheck.com/Default.aspx?EntryID=635&tabid=66

James Brigagliano, Asst. Director of Market Regulation and responsible for many of the gaffe’s pertaining to Regulation SHO submitted a document to Senator Paul Sarbanes in September 2005 in which he misrepresented the truth. He lied!

He’s the one who approved the Madoff Exemption.

Here’s a Madoff letter from 1998.

http://ftp.sec.gov/rules/sro/nd9826/gorman2.htm

and an article about the start of NASD under him.

http://findarticles.com/p/articles/mi_hb5552/is_199808/ai_n23572230?tag=content;col1

Look at it this way. Would you want Warren to tell you?

You seek Yoda.

http://www.sec.gov/rules/proposed/s72303/s72303-284.pdf

It is so flagrant it approaches disgust. Yet no one is doing anything to stop it whether it be this admin or the companies involved. I continue to wait for someone to drop a hammer and when that occurs it will NOT be pretty. Tomorrow would be as good as any day. Yet I still hope for someone to spill their butts. What do you say Anonymous?

There is no quit in these guys. None.

Who is advising this guy? Bob Shapiro -speak up, man

BTW, you can ask Warren a question. He is appearing on Squawkbox Monday for 3 hours with Becky Quick.

Askwarren@cnbc.com

I don’t think they’ll show him mine.

Warren GOT CARELESS and because of such has allowed his investors to be VICTIMIZED. NO they aren’t coming at him directly. They are coming at him indirectly and his mistake was to underestimate the enemy. So what to do? Pray someone acts versus LIP SERVICE.

Our DTCC administered clearance and settlement system utilizes a system involving the legal concept of “novation”. “Novation” means “to create anew”. When a trade is executed the selling party owes the buying party the delivery of the securities it sold. During “novation” the delivery obligation of the selling party is “discharged” and the NSCC as the “central counterparty” (CCP) to the trade “assumes” this delivery obligation and promises to “execute” on it EVENTUALLY. The original selling party now owes the NSCC (and no longer the party it sold the securities to) the delivery of that which it sold and the NSCC then promises as the CCP to forward those securities on to the buyer.

For 29 years I’ve been writing on how tricky “novation” can be especially if the selling party is a card carrying member of the party that “assumed” the delivery obligation it recently “discharged” and promised to “execute” on. If the CCP, the NSCC in this case, refuses to act in good faith in executing the delivery obligation it just “assumed” then the financial system supported by that clearance and settlement system is in deep trouble. Why?

In slow motion what happens in “novation” is that an NSCC “fraternity brother” sells securities to somebody half way around the world. Two seconds later it now owes the CCP (the NSCC) the delivery of those shares. The NSCC also just happens to act as the “fraternity headquarters”. The seller of securities all of a sudden now owes itself as a fraternity member and its fellow fraternity brothers the delivery of that which it just sold.

The NSCC just so happens to qualify as an extremely “forgiving fraternity”. A “forgiving fraternity” says to its fraternity brother debtors now that your debt is owed to yourself and your fraternity brothers you don’t have to deliver that which you sold previously as long as you at least collateralize the monetary amount of your failed delivery obligation. The clever part is that as all of these failures to deliver (FTDs) that give rise to readily sellable “securities entitlements” invisibly pile up in the share structure of the corporations targeted by fraternity brothers for destruction then the share price of the corporation predictably plummets. As the share price plummets so too do the collateralization requirements. Why? Because they are “marked to market” on a daily basis based upon the share price.

As the collateralization requirements plummet the money of the unknowing investor on the buy side of that trade involving a failure to deliver flows to the selling fraternity brother despite the fact that he still hasn’t delivered that which it sold. In fact in a system with a “forgiving fraternity” that which was sold never needed to exist in the first place.

Now how clever is that? You sell something that doesn’t exist and two seconds later you owe the debt to yourself and your extremely forgiving fraternity brothers. As if by magic this then automatically results in the investment proceeds of the investor getting duped to flow into the wallet of the fraternity brother that just has to merely refuse to deliver that which he sold. But don’t you have to worry about the fraternity headquarters forcing the fraternity brothers to deliver that which they sold so that they can “execute” on the delivery obligations it “assumed”? No, that’s part of the deal with a “forgiving fraternity”.

The fraternity headquarters (the NSCC management) will with 100% certainty pretend to be “powerless” to buy-in that debt even though it has all of the power in the world to do so. That’s all part of the “package”. In fact what’s really exciting is that when a fraternity brother absolutely refuses to deliver that which it sold the ONLY “cure” available is a “buy-in” and the fraternity headquarters thus bypasses the only solution available. That’s one of the services of a “forgiving fraternity”.

Does the “forgiving fraternity” charge interest on the monetary amount of the failed delivery obligation while it is owing like in the real business world? No, it’s just the opposite. As the share price predictably tanks the money flows the other way i.e. back to the fraternity brother refusing to deliver.

Another thing that is really helpful is that the “fraternity headquarters” is actually an SRO or “Self-Regulatory Organization” that is mandated to act as “the first line of defense against abusive naked short selling frauds” LIKE THE ONE THAT IT SPONSORS! Now how cool is that? The fraternity headquarters d

Imagine a company with 1 million shares out, all owned by insiders. Simply naked short 3 million shares to yourself in another account. All you have to put up is 2%, temporarily, as the sale is a wash.

Each share is only worth 1/4 of a vote because there are 4 million entitlements outstanding.

You would own 3 million x .25 = .75 million votes and the insiders would only own 250,000 votes.

Use your votes for whatever evil you want, such as buying the company for a song, then reverse your trade and get your 2% back.

No pun intended–but how short-sighted!

One guy on a forum said he could retire if the Dow hit 1000. What kind of country and world does he think he’ll “enjoy his retirement in” if we go that low?

Insanity.

Here’s hoping!