I check this site regularly and was reading some of the recent comments by kd suggesting creating an ‘open source real-time exchange’. I’m not sure that the open source community could produce such a beast and if they could, how would it be accepted for use by the parties involved?

I do think that a real-time settlement system would be a good thing. If you search for ‘real-time settlement system’ you will find that other countries already have such systems in place at least for certain markets. One interesting tidbit I came across was this PDF http://www.sec.gov/rules/concept/s71304/jjangel04092004.pdf on the SEC website which is a letter dated April 9, 2004 from a Dr. James Angel to SEC Secretary Jonathan Katz in which Dr. Angel gives a good reasoning as to why RTSS should be implemented. And that was way back in 2004! I’m not sure I or anyone here would agree with Dr. Angel’s position on short selling though…

An RTSS should eliminate failures to deliver. By their nature, an RTSS must be basically all digital which should also allow for a huge window for transparency and oversight.

I think implementing an RTSS is such a huge task that it would only be accomplished and accepted through a federal program and/or mandate.

I also think RTSSs should be imposed on all markets possible (stock markets, commodities markets, futures markets, etc.).

In the meantime I would argue that the uptick rule must be reinstated and they should probably also tack on a hard borrow measure on top of that.

Anyway, keep up the good work. It is appreciated. I look forward to the day when I can invest in a transparent and honest market. Thanks!

Your work to put an end to Naked Short Selling via this blog (DEEP CAPTURE) — and the investigative journalism of Mr. Mark Mitchell, is outstanding — and merits many thanks from any legitimate investor. As mentioned in a video that I saw of yourself, you were mugged in a back alley by these financial criminals, but you and your company are still standing — and you are fighting back. Please keep up the good fight to expose these financial thugs — because many people are hoping beyond hope, for the benefit of us all, that the Naked Short Selling is STOPPED & BANNED as illegal forever.

I just wish that MORE EXPOSURE could put Naked Short Selling in the headlines. I cannot understand why Mainstream Media neglects to perform their ethical watchdog-role — and write about the BLATANT FRAUD being perpetrated by the Naked Short Sellers.

As for CNBC, they only barely mention those tough words for them to verbate on TV — “NAKED SHORT SELLING” — and only late at night in the latest coverage. Why is this? Is it because of their close relations with Hedge Funds — believed to be the primary perpetrators of Naked Short Selling? My nickname for CNBC is the “Hedge Fund Channel” — because it seems that they will report any and all negative news about a failing investment bank (e.g.- Bear Stearns — I clearly remember Mark Faber’s comments made — after speaking to a friend at a Hedge Fund with whom he had known for over 20 years) or a failing auto maker (e.g. – GM — Now, CNBC seems to be ridiculing this struggling automaker, talking publicly about what kind of vehicle the CEO will drive to the Congressional Hearing). Is it a coincidence that Bear Stearns and GM were being SHORTED like crazy by Hedge Funds at the time of CNBC’s reports? It seems that CNBC just has so much in common with Hedge Funds — almost incestuous.

By publicizing this mess of corruption, investigative journalists in Mainstream Media could join Dr. Byrne, Mr. Mitchell and others — to try and put an end to Naked Short Selling. The financial rapists, like any other common criminal perpetrator, will continue — and the damage could pose those 2 words that should be directly correlated to Naked Short Selling: SYSTEMIC RISK.

Unfortunately, the neglect of not cracking-down on corruption could pose 2 new words: SYSTEMIC COLLAPSE. This brings me to the man where the buck stops — or, in this case, the Naked Short Selling could stop.

It seems that many of the problems surrounding Naked Short Selling could be remedied quickly by SEC Chairman Christopher Cox. In my view, the responsibility to put an end to the financial rape of stock equities via Hedge Fund Bear Raids is with the office of Chairman of the SEC.

With the above said, is not high-time to create a PETITION OF TERMINATION for SEC Chairman Christopher Cox?

I know the new administration is just around the corner, and a new SEC Chairman could be appointed. But, ethical responsibility compels me to write this request — that a Petition for Termination of SEC Chairman Cox — be slapped down on the desk in front of him before he leaves. Why? Isn’t every day precious at this juncture? The worse it gets — the more of a chance of total SYSTEMIC COLLAPSE, correct?

I believe action should be taken to terminate Cox ASAP. If nothing else happens, then at least publicity would be garnered.

Thanks again Dr. Byrne for your outstanding work done to stop Naked Short Selling. And – to anyone that reads this, let’s all keep on keep trying to expose this fraud, and hopefully, we will all see justice soon!

Hang_’em_High

You are too kind. There are plenty of folks who should be thanked, but I’m not one of them.

Patrick

We are all obliged to DeepCapture.Com and I’m sure it’ll effect change.
Tom