05 December 2008 by Patrick Byrne
Stock manipulators think not just cancer patients can die to pay for ski trips to Gstaad. They also think those suffering from various pulmonary and blood diseases can die, too. InterMune, Inc., is a California firm that focuses on the research, development, and commercialization of therapies in pulmonology and hepatology. It generates over $50 million/year in revenue, [...]
04 December 2008 by Mark Mitchell
You don’t read about it in the American press, but major news organizations in just about every other nation on the planet are reporting that it is really bad that some hedge funds and brokers do not deliver the stock that they sell to unsuspecting investors. In a story this week, for example, Euromoney, one [...]
04 December 2008 by Patrick Byrne
Dendreon Corp. is a Seattle, Washington-based biotech company that researches treatments for cancer. Their approach is novel in its dirty work is done by reprogramming the body’s monoclonal antibodies (I happen to have heard of these because my scrawny tomboy high school chum grew up to be a ridiculously attractive Ph.D. at NCI researching non-idiotypic [...]
02 December 2008 by Patrick Byrne
Given that a couple million American jobs rely directly or indirectly upon the survival of Ford and GM, and given that they are running out of capital and are standing on the steps of Congress with tin cups in their hands, wouldn’t it be nice if we had a functioning capital market that was determining [...]
01 December 2008 by Mark Mitchell
The new president must ensure that Wall Street delivers what it sells
01 December 2008 by Patrick Byrne
In a previous post I named various places where unsettled trades can accumulate: in the desks of brokers, in pre-netting among brokers, in the Continuous Net Settlement (CNS) system, in the Stock Borrow Program (SBP), through ex-clearing, and in delivery mechanisms from offshore exchanges. For all I know, these represent just a subset of the [...]
25 November 2008 by Mark Mitchell
A Wall Street Journal shows that short selling fueled financial panic. But the story is much bigger than that.
21 November 2008 by Mark Mitchell
History was made last night. At 9:30 pm, CNBC broadcasted these words: “naked short selling is what’s causing a lot of the problems in the market.” The words came from former SEC Chairman Harvey Pitt, who added that “there’s a very simple solution…if you want to sell a stock short, you have to have a [...]
18 November 2008 by Mark Mitchell
By some quirk of human psychology, it remains difficult for a certain segment of the population to accept the “deep capture” thesis – the notion that our nation’s regulatory bodies and parts of our media have been “captured” (at times, outright “corrupted”) by a powerful, moneyed elite. “No way,” we are told. “Maybe in Nigeria. [...]
12 November 2008 by Mark Mitchell
The media fails to cover the full story of an SEC scandal