An Overview of Deep Capture

An Overview of Deep Capture

My argument has been widely misreported since I began making it in 2005. Therefore I am stating it here as nine straightforward claims that will be difficult to misunderstand or misconstrue. I have grouped them into those describing the setting, the crime, and the cover-up.

Chapters 1-3: The Setting

Chapter 1 – The Players

Over the last twenty years Wall Street has come to be dominated by a group of players who first pushed the laws to their limits, then openly flouted them until they became blurred beyond the possibility of enforcement.

Chapter 2 – The Journalists Tried to Be Players But Became Pawns

Over the last fifteen years the standards of professional journalism have been eroded by a group of reporters who have tried to appear as players, but have become pawns. A significant fraction of the financial journalists on the hedge fund beat have become shills of a handful of hedge funds.

Chapter 3 – Our Captured Federal Regulator The SEC

The Securities & Exchange Commission, regulator of our nation’s capital markets, has been captured by financial elites to the point that it favors Wall Street over Main Street.

Chapters 4-7: The Crime

Chapter 4 – The Crime: “Naked Short Selling” and Other Insincere IOUs. A crime is routinely occurring in our capital markets. Small loopholes created to provide “fault tolerance” in our nation’s stock settlement system are being exploited by Wall Street brokerages and their hedge fund clients to steal billions of dollars.

Chapter 5 – How Corporate Democracy Became a Hoax. One side effect of this crime is that corporate governance in America has been shattered.

Chapter 6 – Ruined Firms & Looted Pensions Another side effect of this crime is that many companies (often innovative tech and biotech companies) have been damaged or destroyed, while the Americans who invested in them were robbed, generally with no awareness on their part beyond the loss of their savings in the stockmarket.

Chapter 7 – Unsettled Trades & Systemic Risk. A third side effect of this crime is that it has created in our country’s financial system a crack so deep it could trigger a systemic collapse.

Chapters 8 and 9: The Cover-Up
Chapter 8 – The Deep Capture Campaign. The financial media are incapable of bringing a critical mindset to this issue because of their too-cozy relationship with Wall Street (several financial journalists actually seem to be engaged in blue-smoke-and-mirror attempts to obfuscate issues on behalf of the financial elites who turn up wherever this crime is occurring). As a result, the crack in our financial system appears to be reaching catastrophic proportions.

Chapter 9. Within “social media” (blogs, message boards, and wikis) evidence for the preceding points has been pieced together, but there is a campaign to hijack the social media discourse, organized by the same people who are profiting from the crime.

To many, the preceding will appear a bald and unconvincing tale, too fantastic for even the loopiest Hollywood thriller. When I first began discussing these claims, the New York Post ran a photo-shopped picture of me with a flying saucer coming out of my head. For two years the profession of financial journalism has demonstrated that in its view there are, in fact, two subjects beyond critical examination: Wall Street, and the profession of financial journalism.

In the chapters of Deep Capture that follow I will examine evidence that has emerged over the last two years and the degree to which it confirms or falsifies these claims.

I thank you for the courtesy of your visit and the gift of your attention.


Patrick M. Byrne, Ph.D.

  1. Something you wrote in another article gave me a fiendish idea – a way to bring these shenanigans to a grinding halt – make the broker’s fee contingent on delivery of the stock. As financial practices stand now, brokers willingly give a “wink and a nod” on uncompleted stock transactions because they get their cut up front, and the sale of nonexistent stock increases transaction volume and thus their profits. They should be forced to change their practices and wait until the transaction is completed. The brokers get paid when the stock is delivered.

    It’s simple, logical, and it makes stock transactions conform to the same practices as others. Real estate agents get their commissions after the sale is complete, banks get origination fees after the loan funds – there are many other examples. Of course they will kick and scream, but that may be the one place they can be hit.
    I propose calling the undelivered stock “Vaporshares”.

  2. ive seen corruption to i my apology for your last question today and hope fully there is an beating the odds dot long trip

  3. and grab the landstock and water rights if any shares arent yours or you dont influence making profitable 4 vaporshares or shareshame or sociolinguistics 4 that massmatter

  4. God bless you for the History Is Made/CNBC article. SEC should hire the deaf to watch old MadMoney clips to have them interpret Cramer’s handsignals; e.g., note continuing U-U-P signals pre-US$ bottom. CRAMER A FUCKING CRIMINAL.

  5. Dr. Byrne,

    Full credit to you for your levels of transparency in the accounting and reporting of your company. I respect the way you have not letting sleeping dogs lie in regards to the naked short selling and front running against overstock.

    I understand that your actions will have made you more of a target by some in Wall St. Yet, even with all the teaming up and posturing that some in the finance media and on Wall Street are throwing in your direction, you are coming across as authentic and logical in your arguments, where in contrast some of the pundits put up against you, are coming across as vague and with counter-arguments of zero substance.

    As you must know, it is your integrity, backed up by financials that will lead to success for you and your company. As a word of encouragement, from my perspective you interview well as an honest and successful CEO. I believe the vast majority who watched these interviews will have had the same impressions.

    I wish you all the best with your company. The model and strategy you are following, focused on the longterm growth of the company, makes a lot of sense to me. It seems that you are now coming from a phase of growth, at the cost of some early profits, to a phase of growth, built on critical mass. Perhaps this is the year where some profits can be afforded at the net basis level to build goodwill with your stockholders.

    I believe in your strategy, and more importantly find you believable, and will be backing this up with a buy order of some stock.

    Best regards,

  6. there is another part of this scam. Its the copyright, patent, and state grant of monopoly part.

    Without monopoly the global economy cannot exist, because to make it work, the global economy must have a monopoly on its goods and services worldwide.. produce in the cheapist place, the products the world must buy.

    The merger of the Banking and Security into one scamming industry could only have happened if the firms had in place the monopolies they needed to fit the need of the market.

  7. Many thanks for the work and talents that you must have spent in assembling this excellent site. It seems the sort of thing many of us would want to do but simply dont know where to start… yet you have made quite an admirable start creating an ethical and intellectual oasis in an era of economic subterfuge where honesty and good will are often passed over for quick profits.

    Please know that as long as your site exists it will serve as a light in the darkness for me and most likely many others. I will keep reading.. always inspired and inquisitive. Kris Dannon

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