The tail wags the dog,
Then tail eats the dog, then
The tail becomes dog.
(Wall Street wags the government, then it eats the government, then it becomes the government.)
For me the worst part of this is that the blue collar working class people are the ones that will be hurt the most by this. The working stiffs get stiffed while the government gives Wall Street the green light to steal all of the money.
Is the US Government a hedge fund?
No, just a wholly-owned subsidiary of the hedge fund guild.
When this does become main stream news (and it will soon) What will the defense of the protectors of the hedge fund guild be?
1) The American wrokers didn’t need the money anyways?
2) America needs the 15% tax base for the naked short hedge fund managers?
3) Naked Sort selling was too complicated for the US Government to understand?
4) The hedge fund industry wont give good jobs to those regulators that do their job honestly?
5) DeepCapture.com didn’t explain it easy enough for the regulators to understand?
6) they will take the 5th?
You just have to understand the overall scheme of things. A certain subset of those who, by virtue of their birth (usually) or financial acumen have inherited or amassed great wealth and thus power, believe that they have the right to control everyone else. They have grouped themselves together to accomplish their goals. A free and prosperous people is an insurmountable impediment to their goals. Thus the people must not be allowed to be (I should say remain) free and prosperous.
Organizations like the SEC are simply tools to accomplish their goals. The SEC has NEVER and WILL NEVER protect the investing public. It was not meant to do so. Any hope I had that the SEC would come around was eliminated when the SEC exempted market makers and options scum from its temporary “protective order” for financial companies, thus rendering the protection mostly useless.
Dr. Byrne could have been one of “them” and reaped the (temporary) financial and social rewards. Instead he aligned himself with “us” and suffers for it. God bless him.
Most of the hedge fund whores are just tools taking advantage. They will suffer too, ultimately. All these electronic Federal Reserve “notes” they are piling up as a result of their fraudulent behavior can be wiped out, just as easily as the value of the securities they are counterfeiting has been. The Bible is clear what happens to those who make their money via “unjust means.” “In the end [every one of them] will be proven to be a fool.”
After seeing Citigroup announce another 2.5 billion in “writedowns” and that is in addition to the previous 30billion plus in the last 3 or so quarters and their stock surge more10% intraday and finish up 7% + Merrill announce 5billion in writedowns and finished up 1/2 %,it is understandable that if OSTK did not have any multibillion writedowns for the Q the stock should be down graded by one Analyst and sold off by more than 10 times the average volume or 4.5million shares (avg volume is 450K) normally traded. I read several articles about OSTK yesterday and none were positive, however I read several postive articles about Citi and the fact that their losses were lower than expected. LOL!!! If this were’nt so sad and obvious it would be tragic and is. Patrick, congratulations on the stellar quarter you put together and kudos to you and your employees for their continued hard work. If these miscreants can do this to a company like yours I just want your readers to imagine what is being perpetrated on those companies that cannot withstand the onslaught that you and OSTK are currently and have been for the last 4 years experiencing. My Mom has a saying that i live by and that is”Night can only run for 12 hours before day catches it”. I look forward to what the new day will bring to light. This cannot go on much longer something has got to give.
Is the US Gov a hedge fund? LOL
No, its a grande dame ponzi.
The greatest paper mountain ever constructed.
The scale of the miscreants activities could never have been estimated by us mere mortals.
I can’t help but assume that the “red letter” financials must be feeling rather exposed in Cox’s 30 day peep show.
Other than Deepcature.com and the Sanitycheck.com, this is the best reporting on the true staus of our Capital Markets.
SEC Issues Order To Protect Those Most Responsible For Naked Shorting
The naked short selling saga continues. If the SEC was attempting to initiate a short squeeze in financials during options expirations week, it managed to do just that. See Short Squeeze In Financials Continues.
Fannie Mae is up another 25% today to $13.66 in the wake of Selective Enforcement of Regulation SHO and Bernanke’s statement: “It’s important for Fannie Mae and Freddie Mac bonds and stocks to rise so they can keep raising capital and aid the mortgage market.”
As long as the investment banks and brokers were making money engaging in naked shorting of stocks, there was no problem. However, when the bears began using the tactic against the broker dealers and investment banks, it became time to selectively enforce the existing regulation.
Today the SEC has gone one step further. (sorry no link for the following)
Emergency Order amended
WASHINGTON (Dow Jones)–An emergency order issued by the Securities and Exchange Commission to impose new restrictions on short sales in 19 stocks will not apply to bona fide market makers, the SEC announced Friday.
The SEC amended the order at the recommendation of its staff to shield market makers from the new restrictions, which will take effect on Monday and could last for up to 30 days. It said the change was made to allow market makers “to facilitate customer orders in a fast-moving market without possible delays” that might come from complying with the emergency order “and to prevent substantial disruption to securities markets.”
The SEC said the exemption covers registered market makers, block positioners and other market makers that sell short as part of their bona fide market making and hedging activities in the affected shares, as well as standardized options on the shares and exchange-traded funds that include the affected shares.
Bonafide Market makers
BNP Paribas Securities Corp
Bank of America Corp
Credit Suisse Group
Daiwa Securities Group Inc
Deutsche Bank Group AG
Goldman Sachs Group Inc
Royal Bank ADS
HSBC Holdings Plc ADS
JPMorgan Chase & Co
Lehman Brothers Holdings Inc
Merrill Lynch & Co Inc
Mizuho Financial Group Inc
Here’s The Deal
Anyone in the above list can continue to naked short with full approval from the SEC. No one else can.
The implications are that the market makers will be accumulating massive quantities of financial shorts as everyone else is squeezed out.
Looking one step ahead, think what happens to the bid after everyone else is squeezed out and the market makers hold all the financial shorts.
If the intent of the SEC was to force prices up, it is going to fail big time, in due time. If the SEC’s intent was to temporarily increase the trading profits of the broker dealers, it will succeed.
Mike “Mish” Shedlock
I’m still suprised that the “votes count” aspect of FTD’s hasn’t come up in the noise yet.Obviously, if we (the great unwashed) can’t come up with any math to estimate the scale of the Undelivered (FTD) Unreceived (FTR),similarly the voting / corporate goverence issues must be largely out of whack.
Paul T, spot on my man. The corporate voting fraud issues wasn’t raised at all by the CNBC’s and their hedgefund sources, nor during any hearings during all this fuss.
I’ll put something up that you’ll enjoy that mentions voting.
You’ve reminded me that I have to finish writing these someday soon. Right now I have a few placeholders still:
My preference is to think of the whole “deep capture” thing as a bunch of hooey–conspiracy theories are for small minds enamored with drama, right? In truth, however, I think it’s a small mind that would be dismissive to this level of organized greed.
It’s way cool you’re paying cash for folks who can figure out how to publicize this. I’m not sure how I can help on this, but will give it some thought…and also for a new blog title.
comment section of #9 no work so I post new title here. send $100 please. all small bill. tia.
True Then, True Now–SEC’s Failure to Deliver
Title for Blog
(Accompanied by Dueling Banjos)
Mad Dogs And Flimflam Men
Truth Is Stranger
Show Me The Money
Their Lips Are Moving
Those “Magnificent” Men And Their Lying Machines
Floyd The Bum And Only
The Rat Pack
At the very least, Patrick, hand this out as a message board name. My treat.
Floyd The Scum And Only
Hi Patrick, (comment section is down on latest post)
(also, widget down)
Article on “World-Historic”
looking for a name?
How about “Passive aggressive guilt with historic ramifications”
““Guilt is abscent when the act is justified.”
Reposting this because it seems to have
An Unsettling Truth goes global.
I’ll try and explain Satan’s activities by using an analogy.
Let’s say that God’s Messiah plus God’s Bible plus God’s church are analogous to a TREE. We may as well call it “the tree of life.”
Satan would love to chop down God’s tree of life. He has tried many times to destroy Messiah. Failure. He has often tried to have the Bible burned and forgotten. More failures.
He has repeatedly attempted to wipe out God’s church. Yet more failures.
Satan just can’t get rid of God’s tree.
So what has he done instead?
Answer – Satan has planted MORE TREES.
Many more trees. His goal? To HIDE God’s tree in a veritable forest of counterfeit trees.
These trees look like – smell like – feel like – the real tree of God. But they are trees of DEATH, not trees of LIFE.
In other words, Satan’s primary activities today are involved with leading people to COUNTERFEITS of God’s Messiah, God’s Bible, and God’s church.
I have started a page on the Google Knol for naked short selling (already the bashers are on it, which is amazing) – I was wondering if we could chat about me using some of your written content on the page? I think you have delivered some of the most clearheaded and understandable analysis of the issue, and I think that is what the page should contain. Thanks.
The markets are so unfair.
you really should care.
Cause you may own air.
my first haiku.
Where are the blog updates? My browser only finds the July 15 entry?????
say, what happened to all the articles posted from mid July to Sept 4???
Deepcapture had a bit of a database crash this morning. Obviously we’re back online, and all recently added content will be restored over the next few hours.
Thanks for caring!
Well, I own a very small business and have started to move this information out to the first tier of clients. I am waiting to see how it’s received. It’s pretty depressing – especially when you know that the fox is in hen house – helping rewrite regulations.
Your email address will not be published. Required fields are marked *
This site uses Akismet to reduce spam. Learn how your comment data is processed.