VeraSun Energy Failures to Deliver vs. Share Price
29 October 2008 by Patrick Byrne
================================================================= I suppose I should write something brimming with wit and brio about the chart above, but since 500 people lost their jobs today as VeraSun declared bankrupcy, I think I’ll skip that and just state the point like the crescendo of a dry old economics class: A price is a combination of of information about [...]
Posted in Deep Capture the Data, Ruined Firms & Looted PensionsComments (54)
There. Was That So Hard?
29 October 2008 by Patrick Byrne
In mid-2004 the Securities & Exchange Commission (itself a kind of a joint venture of the US federal government and Wall Street) adopted Regulation SHO. Among other things, “Reg SHO” insisted that exchanges publish the names of firms being victimized by naked short selling. They left plenty of loopholes (grandfathering, offshore failures, option market making [...]
Posted in Deep Capture the Data, Our Captured Federal Regulator the SECComments (9)
Contest Extension
29 October 2008 by Judd Bagley
There is a problem with the voting mechanism, which we are currently working to repair. Because we don’t know exactly how long this glitch has been in place, much less know how long it will take to resolve, we’ve decided to extend entry and voting deadlines to midnight (Utah time) November 15, 2008. Good luck [...]
Posted in The Deep Capture CampaignComments (9)
Deutsche Bank Sold Massive Amounts of Phantom Stock
14 October 2008 by Mark Mitchell
Floyd Norris of Times Misses Story About Phantom Stock at Deutsche Bank
Posted in The Deep Capture Campaign, The Mitchell ReportComments (55)
Naked Shorts Frolic While Financial System Fries
10 October 2008 by Mark Mitchell
“Morgan Stanley shares have been under extraordinary pressure as of late, for no apparent fundamental reason, as we estimate liquidity, the balance sheet, and long-term earnings, prospects are sound.” - Fox-Pitt analyst David Trone in a research note, today Here we go again. A giant bank has some weaknesses, but it is, in all respects, [...]
Posted in The Deep Capture Campaign, The Mitchell ReportComments (22)
Roddy Boyd Sucks It Like He’s Paying the Rent (Fortune Magazine)
10 October 2008 by Patrick Byrne
In the adult novelty & video arcade shop that is our New York financial establishment, one of the mop-and-spooge-bucket boys is Roddy Boyd, formerly of the New York Post (for folks who move their lips when they read Entertainment Weekly), and currently, of Fortune Magazine (also known as “People Magazine for Capitalists”). I have met [...]
Posted in Journalists Tried to Be Players But Became Pawns, The Deep Capture CampaignComments (3)
CNBC Spectacle Precedes Naked Short Massacre
09 October 2008 by Mark Mitchell
So the SEC today lifted its ban on short-selling, and all but declared open season for law-breaking naked short sellers to start destroying companies again – and who does CNBC have on for two hours as its honored “guest host”? None other than Jim Chanos, the salamander-slick director of the short-seller lobby. Asked about naked [...]
Posted in The Deep Capture Campaign, The Mitchell ReportComments (7)
Naked Hunting Season to Resume Tomorrow
08 October 2008 by Mark Mitchell
In a few hours, the SEC will lift its ban on short-selling of 900 stocks. That is well and good, except that it appears that hedge funds will also be permitted to resume abusive naked short selling – offloading stock that they do not possess in order to dilute supply and drive down prices. Given [...]
Posted in The Deep Capture Campaign, The Mitchell ReportComments (23)
NYT’s Nocera Digs Deep Into Naked Short Selling Scandal
07 October 2008 by Mark Mitchell
In testimony before Congress yesterday, Richard Fuld, the former CEO of Lehman Brothers, said that (criminal) naked short selling precipitated the demise of Bear Stearns and Lehman, and nearly toppled Goldman Sachs and Morgan Stanley. Given that not only Fuld, but also the CEOs of Goldman Sachs, Morgan Stanley, JP Morgan and a good number [...]
Posted in The Deep Capture CampaignComments (14)
The Naked Short Selling That Toppled Wall Street
02 October 2008 by Mark Mitchell
The Wall Street Journal stated in a lead editorial last week that the SEC was “reasonable” to “clamp down” on naked short selling. Well, that was progress of sorts, though one wonders how it could have taken all these years for the nation’s most important newspaper to suggest that it might be “reasonable” to put [...]
Posted in The Deep Capture Campaign, The Mitchell ReportComments (44)
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