Comments on: Dendreon’s Cancer Researchers vs. Hedge Funds & The Bootlick Journalists (or, What’s 18 Million Fails Among Friends?)

By: Mccormick Place Chicago Ill

Mccormick Place Chicago Ill — Thu, 18 Jun 2009 18:35:13 +0000

I agree with most of the thoughts on:Dendreon’s Cancer Researchers vs. Hedge Funds & The Bootlick Journalists (or, What’s 18 Million Fails Among Friends?) | Deep Capture: exposing the crime of naked short selling about mccormick place chicago ill but must admit I find your idea a little challenging as I have been visiting this since last Thursday and am not sure whether I agree with your thoughts… : )

By: Hot News » Cougar Biotechnology

Hot News » Cougar Biotechnology — Fri, 22 May 2009 17:30:34 +0000

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By: Sarge

Sarge — Sun, 03 May 2009 14:00:34 +0000

Sean,
Thanks for your kind words of support!

By: Fred

Fred — Fri, 01 May 2009 03:31:27 +0000

Who is this “Stanford Professor” Darrell Duffie? Does he really believe that selling a security with no intention of delivering is good for the markets? What justification does he have for the outrageous statement: “Financial markets with relatively unencumbered short-selling perform better.” ?

The academy is also going down the tubes.

By: Jim Hall

Jim Hall — Thu, 30 Apr 2009 17:54:22 +0000

Fairly prescient reportage on DNDN, I have to say. Good job, Patrick and team.

As for the shortminded zombies, what does it take?

A stake in the heart(I know, hard to find)?
A .357 slug right in the cerebral cortex (I know, hard to find, again).

“Making short-selling potentially costly can reduce market liquidity,” as the market goes down the drain, along with our economic lives….

By: Ted

Ted — Thu, 30 Apr 2009 16:43:10 +0000

“These ridiculously hollow institutions continue to engage in sales of USTreasurys with rampant failures to deliver funds in order to maintain cash flow, not mentioned in quarterly earnings reports.”

http://news.goldseek.com/GoldenJackass/1241103600.php

The government should nationalize the dirty brokerages and banks for a year or two, clean them up, then IPO out the new clean entities. The thieves need to be fired, then arrested.

By: iStandUp

iStandUp — Thu, 30 Apr 2009 15:21:14 +0000

Repo Failure Remedy Drives Away Short-Sellers in Treasuries

By Liz Capo McCormick

April 30 (Bloomberg) — Just as Federal Reserve Chairman Ben S. Bernanke revives credit markets, one of his remedies may reduce trading in Treasuries.

A Fed-endorsed industry recommendation will require traders to pay a three-percentage-point penalty on uncompleted trades, known as fails, starting tomorrow. That may reduce the number of bets on price declines, according to RBS Securities Inc. and Societe Generale SA.

While the new recommendations are meant to curb disruptions caused when traders fail to meet their obligations, some strategists are concerned it may do more harm than good in the $7 trillion-a-day repurchase market, where dealers finance their holdings. A reduction in trading would be a setback for the Fed as it seeks to lower borrowing costs by pumping cash into the banking system and purchasing as much as $1.75 trillion in Treasuries and mortgage securities.

“Making short-selling potentially costly can reduce market liquidity,” said Darrell Duffie, a Stanford University finance professor and member of the New York Fed’s Financial Advisory Roundtable. “Financial markets with relatively unencumbered short-selling perform better.”

http://www.bloomberg.com/apps/news?pid=20601109&sid=auJxnhL3YKQg&refer=home

By: Terry

Terry — Thu, 30 Apr 2009 15:00:42 +0000

The Washington Times needs a guest editorial from Dr. Patrick Byrne as a response to this editorial: http://washingtontimes.com/news/2009/apr/30/in-defense-of-short-selling/

By: Diane

Diane — Thu, 30 Apr 2009 14:38:03 +0000

This COULD be a beginning.

Repo Failure Remedy Drives Away Short Sellers In Treasuries

http://abclocal.go.com/wabc/story?section=news/local&id=6782403

By: sean

sean — Thu, 30 Apr 2009 03:44:03 +0000

Anyone care to explain to me how they knew to do this ahead of time? You get the idea everyone knows about this stuff ahead of time to get out without a loss except for us and Joe Louis(Bear Stearns Investor).

Finra Oversees Auction-Rate Arbitrations After Exit (Update1)
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By Darrell Preston

April 29 (Bloomberg) — The Financial Industry Regulatory Authority, supervising 344 investor arbitration cases over auction-rate bonds, skirted losses from the securities by selling its holdings months before the market collapsed.

Finra, responsible for educating and protecting investors, owned as much as $862.2 million of the debt before exiting the market in the spring of 2007, less than six months before auctions began to fail, according to spokesman Herb Perone. The Washington-based group is conducting arbitration hearings filed against banks by bondholders stuck in the $176 billion market.

Investors who were sold the securities as money-market alternatives say Finra, a non-profit corporation owned by banks that oversees 5,000 brokerage firms and 659,000 brokers, failed to protect them. The market froze in February 2008 when banks, which had supported the debt for two decades through periodic dealer-run auctions, stopped buying bonds that investors didn’t want as losses from subprime mortgages spread.
Click on link for rest of story.

http://www.bloomberg.com/apps/news?pid=20601213&sid=agMSn6dueL3I&refer=home

By: sean

sean — Thu, 30 Apr 2009 02:25:51 +0000

Kevin, would’nt it be interesting if the new Wall Street movie would portray the Michael Milliken (sp) character after coming out of jail and setting up his charity stuff as a front for the evil doing of manipulating the stock market from behind the scenes and destroying the American Economy just to show the regulators and the old Wall Street Guard who threw him under the bus that he was smarter and more patient than they were? I just thought that I would throw that out there. Comments anyone???

By: Anonymous

Anonymous — Wed, 29 Apr 2009 22:03:14 +0000

Back in 2002, companies tried to leave the DTC to avoid being naked shorted to death. The SEC banned the practice because it was starting to work.

http://www.sec.gov/rules/sro/34-47978.htm

It was replaced by an NASD rule that was starting to work in 2004, then the SEC banned that rule and replaced it with SHO.

By: Matt

Matt — Wed, 29 Apr 2009 20:01:47 +0000

I see Gary Weiss has responded to your posting:

Adding comic relief to the whole situation, meanwhile, are the naked shorting conspiracy types, most recently the wacko CEO of Overstock.com, Patrick Byrne. They’ve put Dendreon on their lengthy list of victims of naked shorting. Forensic Tracy Coenen had a memorable fisking of a recent Byrne blog post the other day.

By: kevin

kevin — Wed, 29 Apr 2009 17:43:42 +0000

http://hollywoodinsider.ew.com/2009/04/wall-street.html

By: iStandUp

iStandUp — Wed, 29 Apr 2009 13:03:34 +0000

A Thought came to mind this morning about the SEC position on Naked Shorting….

If the SEC statement that it considers Naked Shorting as illegal were its true position, then…

– WHY does the SEC HIDE the Fails to Deliver for 5.5 months? ( – Why HIDE what is illegal?)
– WHY does the SEC allow the Naked Shorts to HIDE the Fails to Deliver in outside the monitored DTCC system? ( – Why allow criminals to HIDE what is illegal?)

The ACTIONS of the SEC indicate that its true position on Naked Shorting is that it is LEGAL.