Comments on: NYT’s Nocera Digs Deep Into Naked Short Selling Scandal

By: MARY JACOBS

MARY JACOBS — Thu, 09 Oct 2008 15:52:58 +0000

I’ve been attempting to contact my senator
(Susan Collins, R Maine) and my representative (Mike Michaud,D ME) but
neither they nor they office staff seem to
get it. Instead all I get back is a form letter
about the bail out, and whether they voted
nay or yay on that. I am beginning to believe
they (congress) don’t understand the difference between short selling and naked short selling, and are not taking the time to educate themselves, much less have a
position on this crime and the SEC’s lack
of enforcement against naked short selling!

Hence we are inthe hands of legislators who don’t understand and won’t bother to
learn what is going on that costs us
trillions of dollars in fraudulently created
naked short shares! Hopefully, if Obama gets elected, he will learn from some well
educated advisor, that this is a huge problem that has to be corrected, even if it breaks the wall street bank!

By: Fintas

Fintas — Wed, 08 Oct 2008 16:20:34 +0000

For those who want to be PROACTIVE do as I have done and send the articles links to the Limbaugh: Cavuto, Cnbc, Oreilly, Fox news, and the SEC. Then you will have your document to hold them accountable. I have and have done so since 2003. The problem is many of those dogs sleep together.

BUT COLLECTIVELY we CAN do something well beyond this great site. Thanks Mark and all who are involved.

By: Elmer Fudd

Elmer Fudd — Wed, 08 Oct 2008 15:19:25 +0000

Let’s send the whole lot of them on an all expenses paid hunting trip with Dick Cheney!

By: Doc Holliday

Doc Holliday — Wed, 08 Oct 2008 12:13:41 +0000

oh, and don’t feel bad, Alice. Not only do we not understand it, neither do the masters of the universe that created the problems. It appears to be a ponzi scheme but with the captured authorities I don’t look for any meaningful retributions or relief. I’m actually expecting to see the end game being different and more notorious than we could have ever imagined.

By: Doc Holliday

Doc Holliday — Wed, 08 Oct 2008 12:08:10 +0000

Have you ever heard the saying “it’s not the fall that kills you, it’s the sudden stop at the bottom”? He reminds me of this kind of twisted logic. While NSS may not be the sudden stop, it is certainly part of the fall.
During this massive global recession that is turning slowly toward a depression, the only thing that can save the world is the working men and women that actually produce something. They can play all the games they want with banks and lending but you can’t borrow your way into prosperity and you can’t borrow your way out of debt. You have to work your way out of it. That being said, I’m afraid that the huge NSS positions in many public companies are going to kill them during this period along with the productive jobs they represent to the economy.

By: Alice

Alice — Wed, 08 Oct 2008 11:55:41 +0000

Thanks for the open letter, it should be on all newspaper’s front pages not hidden so well. I found this by carefully reading the whole page and mice type of Overstock.com.

Am I the only one who has a difficult time unscrambling this stuff…or is that the way it’s designed. Sans a degree from Wharton Business School it becomes jibberish in the hands/minds of such deft scoundrels as all the corrupt CEOs and their compadres. They NEED to be charged with some kind of crime!! Someone, anyone, please find a crime to fit this and prosecute the hell out sof them. Thank you, for this forum. Like many of us, I’m a begrudging tax payer who’s just making ends meet and seeing my meager portfolio down by 40%. I’m now grateful for my S. S. check each month. Try living on that you bastards!!!!

By: Alice

Alice — Wed, 08 Oct 2008 11:51:53 +0000

Thanks for the open letter, it should be on all newspaper’s front pages not hidden so well. I found this by carefully reading the whole page and mice type of Overstock.com.

By: Steve Jobs

Steve Jobs — Wed, 08 Oct 2008 11:17:42 +0000

I bet a lot of people would pay good money to see Nocera assaulted and knocked out. He’s the slime bucket of the NY Slimes.

By: mhelburn

mhelburn — Wed, 08 Oct 2008 04:04:08 +0000

There is an explanation for Fuld’s sworn testimony about naked shorting. You missed him taking off his aluminum foil hat. When Congress decides that he was lying, he can fall back on being crazy. I could tell he was just being a shrewd businessman.

Remember, he wasn’t that far from the Pentagon where commercial airliners crash and leave no trace.. aluminum is hard to find in DC except on the Washington Monument.

The poor man.. I was in tears when I heard that he hadn’t sold any stock.. thousands of shares and no golden parachute.. and no severance. Later when I learned that he had been physically assaulted in the gym by an employee, again I wept, and wept…

By: rick

rick — Wed, 08 Oct 2008 01:43:40 +0000

Feb 2008

“Speaking at a New York investor gathering, Chanos said his $4 billion-plus investment firm sees rich opportunities”

http://www.reuters.com/article/idUSN0740481320080207

Sep 16, 2008

Instead, Chanos, whose roughly $5 billion (2.8 billion pounds) hedge fund Kynikos Associates

uk.reuters.com/article/americasHedgeFundsNews/idUKARO12901120080916 – 55k – Cached – Similar pages

By: rick

rick — Wed, 08 Oct 2008 01:33:59 +0000

“and seeing his friends implode with 50% losses and redemptions”

It’s hard for me to imagine that the miscreants who bet on a fall are down in this market. Not to mention down 50%. How can this be?

Chanos, who ran around $2 billion a few years ago, was quoted recently at $7 billion. Now that I believe.

By: Sam

Sam — Wed, 08 Oct 2008 00:48:02 +0000

Joe should be in politics….”ask not what wall street can do for you, ask what you can do for wall street”

By: lenofus

lenofus — Tue, 07 Oct 2008 22:50:19 +0000

You’ve got to respect Joe. No! Really!!! He cast his lot with the devil, and even seeing the end of his little scheme, and seeing his friends implode with 50% losses and redemptions, seeing the SEC respond to the SEC IG piece by saying, “….look. He said we were diligent”, even with seeing all this, he stays true to his masters.

Regardless, I’ll take my dogs. They’re loyal, and when they lie, they’re cuddly.

By: Carmela Soprano

Carmela Soprano — Tue, 07 Oct 2008 22:15:59 +0000

My goodness me!
What a read @@@ whew!

Fuld’s racket was no different to any of the other rackets that the suits call Wall Street.
This is ludicrous! The Wall Street Banks lent stock and cash to Hedge Funds who got leveraged up on g-d knows what vigorish and then MADE BETS with the Wall Street Banks that it all WOULD go out of business!! AND IT ALL WENT BOOOM!!

AND YOU EXPECT THAT TAXPAYERS SHOULD PAY??
WHILE YOU SCIVOZAS WALKED AWAY WITH HUGE WEALTH??

WHERE ARE THE HERO’S?