What We Should Learn from Jim Cramer vs. the Daily Show's Jon Stewart

    What should we learn from the fact that “The Daily Show’s” Jon Stewart has in four evenings (1 2 3 and 4) exposed Jim Cramer in a way that, in any sane world, he would have been exposed a decade ago? To answer that, consider these associated facts: while the Jim Cramer constellation of journalists (Mitchell’s Media Mob) backed each other up while covering-up the subject of criminally abusive short selling by hedge funds to whom they were close, four channels of the media broke rank:

    1. Two years ago Bloomberg’s Emmy Award-winning investigative journalist Gary Matsumoto did a half-hour documentary that broke away from the Party Line;
    2. Liz Moyer at Forbes has covered the real issues fairly and diligently, and another Forbes reporter named Nathan Vardi took a good swipe at the story (“Sewer Pipes“);
    3. Rolling Out Magazine (“an UrbanStyle Weekly serving the African American community”) called me up a couple years ago and did precisely the fair, non-disorted interview of which the remainder of the New York financial media was entirely incapable;
    4. Now, “The Daily Show” has broken ranks by stating the obvious: there are journalists shilling for favored hedge funds.

    Could the lesson be that the first news organizations that can break ranks with the Party Line are either fringe (“Rolling Out Magazine” and “The Daily Show”) or the properties of billionaires (Bloomberg and Forbes) who cannot be intimidated?

    Perhaps someday, a journalist will look into the pressures that were brought on news organizations (e.g., on Bloomberg leading up to their running “Phantom Shares“). Just a few weeks ago I got the  story, again, from a journalist: “I was working on a story about naked short selling and Deep Capture. Then, suddenly I was stopped. It’s weird because I have been a journalist here for 9 years. I have built a great reputation with my editor, and have never had a story interfered with. But I got a couple months into this story, and suddenly I was stopped from above. I’ve never seen that happen before.” I replied, If you only knew how many times a journalist has said that to me in the last couple years….

    If this essay concerns you, and you wish to help, then:

    1) email it to some friends;

    2) go here for additional suggestions: “So You Say You Want a Revolution?

    This post was written by:

    - who has written 226 posts on Deep Capture.

    I am a concerned citizen who has been focused on systemic instability since 2004.

    Contact the author

    No Responses to “What We Should Learn from Jim Cramer vs. the Daily Show's Jon Stewart”

    1. Anonymous says:

      Look at the last two pictures and ask yourself, how connected do you have to be to tell the SEC to go F themselves and their reply is yes, you’re right, we should F ourselves and we will drop our investigation?

      Jim Cramer knows where the bodies are buried. He was roommates with Elliot Spitzer.

      But these guys have totally underestimated how smart and how angry Joe Sixpack is.

      Cramer could be the first to turn states evidence.

      Some of the people who were paid to lie who could fess up:

      – Stu Goldstein, who lies for the DTCC
      – Carol Redmond who changed her name to Carol Remond, hoping to cover her trail
      – Gary Weiss, who to this day can’t explain why he was able to post from the DTCC’s vaults
      – Joe Necara
      – etc.

      Forbes is to be commended for doing the right thing.

      Has anyone reached out to Ross Perot?

      I’m mailing my teabag in and I’m not afraid of these scumbags that think they own us. This is a democracy and the banksters work for me, not the other way around.

    2. Anonymous says:

      I hope David Patch is still following this. Patchie called out Cramer several years ago when he insider traded his street stock before disclosing the SEC subpoenas – Patch had some really good transcripts back and forth that I can’t find now, but I hope he’d consider posting here.

      I think about Herb Greenberg, who was caught accepting thousands of subscriptions to his newsletter from a single fund as a bribe or Cramer, where every caller has the exact same actor’s voice and can’t help to think that the lapdog scumbags will become the first line of whistleblowers to blow this wide open.

      Re: Madoff, am I the only one that wonders where the money went? Madoff isn’t a billionaire, so where did the money go? He literally established the Madoff exception with his SEC buddy that is literally responsible for the counterfeiting. Why did he choose to go to jail rather than expose his compatriots?

      Joe Sixpack is smarter than given credit for and there is a slow rising anger that’s about to boil over.

    3. Anonymous says:

      Sixty Minutes was doing a story on this about eight years ago and it was killed. The smoking story eventually came to light, but the counterfeiting story was forever buried.

    4. Anonymous says:

      In case you think this story is new, it date back to the 60’s. Richard Ney was banned from the Carson show and was one of the first to figure out the scam.

    5. Anonymous says:

      I managed to get the Deepcapture content to a trusted journalist at the FT. I never heard about it again.

    6. Abhishek Mehrotra says:

      Remember Stewart taking out Tucker Carlson/Crossfire off the air ?.. http://tinyurl.com/2ae66u .. Cramer next ?

    7. Sam says:

      A multi billion dollar financial network captured and used as a tool to steal by wall street, and it took the comedy channel to at long last deliver the story? I guess I should eagerly await People magazine’s expose on hedge fund managers. Thank you Jon Stewart. To the rest of the media? The fourth estate is in foreclosure.

    8. Fintas says:

      Anonymous you are one busy guy.

      Looks to me we have found the supporters. It’s obvious STEWART IS PISSED. That’s a good thing for he can be the one to help here as he can use his forum or better yet help to put others in touch with those who also are pissed and can help. I’d submit if someone from deep capture hasn’t contacted him to interview or assit then that should be done. I’d suggest that the transcripts from Cramer re his statements about NAKED SHORT SELLING be passed along. Additionally the statements of Senator Shelby and many others. This is Bigger than Cramer. He too is a pimple. He’s like some low supervisor that was simply doing what he was told to do from those who own him. Stewart or others also need to go after the financial message boards that are home to liars/cheats and thieves. Yahoo is shameful. Bottom line is KUDO’S to PATRICK/ BOBO and all here. The MOMENTUM is turning and from my days of training via the martial arts one doesn’t let the enemy up. You…..

    9. kevin says:

      I finally caught Stewart on the PVR last night.

      Wow, that’s the hardest hitting journalism I’ve seen in a long time. He should be up for an award.

      And on the comedy channel.

      Too funny.

      By the way, I’m convinced Cramer is a regular reader of this column.

      Jim, save yourself and rat out the other thieves.

    10. Edward says:

      Whats Ford worth 3 years from now?

      is this real about Protectionism?

      or Targeted market manipulation
      Short selling attacks on F

      Nationalism?

      or the cnbc “captured Jim Cramer” stock advise about ford stock being
      a lottery ticket

      (he could finally get one right … with it being winning lottery
      ticket !)

      Misleading spamming link to GM,
      BS

      Patrick Byrne,
      when will TODAYS illegal naked shorting selling of Ford be truly exposed
      ?

    11. Fintas says:

      Expose the illegal activity of F.Let me help you out here. forget F. And forget BSC which caught them all blindsided includeing the govt.

      They’ve got bigger fish to fry and in case you haven’t noticed they’ve been ALLOWING many to get attacked. Incluisve of GE. 19 in Dec and under 6 in early March. Or JPM or many others. I’t’s being allowed. No different than some inspector seeing a wrong and turning a blind eye. That was HOW we got here. NOW they are trying to get us OUT of it. As they do they will throw us a victim. Cramer is one. Yes he deserves it for he could have done something long ago versus the stunts he pulled. Yet he’s a pawn. Faber, Gasperino, Cavuto. Oreilly, Beck and the like. ALL NEGLIGENT. Some would want to arguel WILLFUL or not. Well since I’ve sent MOST of them documentation over the last 10 years. YOU DECIDE. Once we do get past the fixing of this the next step is to clean it up. Yank those who will not do the right thing and fire/remove or whatever. THEN take the structure for it does work. Improve upon it to tweak the holes and let it operate in the efficent manner it was intended. What you, me and others do is continue to inform and educate and USE OUR COLLECTIVE VOICE. Stewart joined in. Now we need to help him help US. He’s got his supporters. Let him use them for the Mark, Dr Jim, Judd, Patch etc etc etc. UNTIL don’t expect F to be protected. Just read what DR JIM has to say as to what to expect going forward.

    12. sean says:

      This could not have happened to a nicer guy!!

      http://www.marketwatch.com/news/story/story.aspx?guid=%7B3E1D0490%2DE487%2D44FF%2DB1A1%2DDBB889EC2515%7D&siteid=YAHOOB

      What is the saying about rats on a sinking ship??LOL!!! It has begun!!

    13. Rich Hartmann (Miss America) says:

      Patrick, well said again.

      I believe your message will soon go viral.

      When you started your quest, people disbelieved, didn’t care, or whatever, since they were all making money. Indifference became paramount! When people started losing money by the boatload, they woke up.

      I’d love to be your connection to Nouriel Roubini’s 2.5million subscribed readers around the world. Nouriel’s star is shining bright right now, as he has become a regular guest of just about every financial show right now. He’s labeled Dr Doom, and he, like you was mocked for quite some time…

      …but now the media can no longer hide from the prophetic calls he has made, as he has documented the entire collapse for the last few years. (If you do not read his blog, I suggest you take a look. His connecting the dots started years ago, and the accuracy of his detailed calls almost look like today’s headlines. It blows you away to see they were written years ago.)

      I’d love to do a piece with you. In addition, I can’t help but think the time is rife for a youtube-ish snapshot to take viral.

      All the best,
      Rich Hartmann – Miss America
      718-614-1527

    14. Peter says:

      Wouldn’t everyone rather hear the court clerk read the litany of charges, as opposed to the court jester?

      That said readers here would do well to acquaint themselves with the work of Fletcher Prouty (made quasi-famous as Mr. X in JFK). His thesis is that when massive crimal events happen almost invariably Standard Operating Procedures have been over-riden to allow the event to occur.

      In this case everyone is looking to hang the Cramers et al, assuming that a mere crime has occured. Perhaps this is the beginning of a “social coup”. Perhaps the destruction of the existing order is the goal. Google “new world order” and see if that phrase has moved from the fringe to the center.

      If the destruction of the system by greed could be engineered and if that is the goal, the egg heads who orchestrated this only need two data points, the top and the bottom.

      The folks who put the lions in the lamb’s manger are to blame. It’s hard to blame lions for being lions or lambs for being lambs. It is easy though to blame the shepard who thought the lions would be gentle with his flock. The “incompetance looks a lot like conspiracy” crowd must question how all the “good shepards” forgot all they knew at the same time and actively ostracized the traditional shepards who said the idea was crazy.

    15. Fintas says:

      Don’t disagree PETER. That is where you, I and others come in to keep from being sucked in by the KANAS CITY SHUFFLE. Those who are not familiar with the tatic should watch the beginning of the movie Luckly Sleven with Bruce Willis and the scene at the airport. So it is now. Throw us a lamb. First we saw Herb G dissapear and a few others. Now Cramer steps in it. Keep in mind he made that video back in 2006 knowing the law. Where do we go from here? Depends on how much we DEMAND ACCOUNTABILITY. And then FORCE it to occur. They love to take polls. They love to do call ins. Someone can set up a write in and flood the arena with FIX IT or YOU ARE GONE. Finally re Roubini. Is he willing to allow a foresnic to look at his books and how the dots align? Yes he’s been bearish but I don’t remember him spending alot of time discussing the Abuse and illegality of NAKED short Selling or the use of phantom shares. Ditton Jim Chanois. There are but a FEW who have done that whether on CNBC, BLOOMBERG of FOX. PATRICK IS ONE and a couple others whose names fail me. NOW if I’m incorrect and he has been a champion to PROTECT the investor against bear raids and the like, please provide the link or steer me to such..

    16. Fintas says:

      SEAN: it;s all those snow flakes. RE Real Money. and it’s leaders. LONG overdue considering what their mission statement was supposed to be. Whose next? SEC or do we just get rid of that leader. Do we go after those who allow the puppets to push their crap re oh it’s not wrong. After all Short Selling is.. Cuse me who the frick was talking about Short Selling. OR allow some jerk to do the smoke and mirrors re the DTCC. What STEWART did was SOOOOO basic… SO EASY. He used Cramers OWN words. Kudo’s to whomever sent him that UTUBE I’m sure there are many who could do the same re SHELBY, FRANKS, and gang along with a batch from COX and former SEC. Then we can go after those anchors etc who also KNEW but would go with the story. The names are familiar. We do have a choice. Do something/do nothing. ME? I’m with the DO SOMETHING and DOCUMENT IT. Then an OREILLY can explain why he didn’t say anything or a Gasparino or a Faber or a CAVUTO. Cut thru the crap and pin them against the wall. Too many allowing the disingenuous to go after good guys. HERE’S an idea WHY Don’t We pin the disingenuous. Stewart just did it to Cramer. I’m sure there are many who would love to do it to OREILLY or SHELBY OR FABER. It’s not that hard.

    17. clusterf___101 says:

      one hack say to another…..
      do those dumb asses even know how computers work?
      no, you can hack the account and watch every click and read emails, instant messages
      then play in the BIG clusterF___! game………give me some money and i will
      show you how the game is played…..easy shit…….
      steal money, trade secrets, ideas you name it and it can be hacked on a computer…

      Is that what the hackers say about our LEADERS?
      Will the FBI bust some balls?

      http://www.washingtonpost.com/wp-dyn/content/article/2009/03/13/AR2009031301449.html

      Yusuf Acar, 40, who has worked in the technology office since 2004, was charged with bribery, conspiracy, money laundering and conflict of interest. Sushil Bansal, 41, president and chief executive of the contracting firm Advanced Integrated Technologies Corp. (AITC), was charged with bribery and money laundering. Federal agents said Bansal’s company received more than $13 million in revenue from the D.C. government in the past five years.
      Acar also told the informant that he could use computers to create fake D.C. birth certificates

    18. Anonymous says:

      There’s a lot to read here, but at least read the overview comment by the guy that scanned the book in.

      http://www.camaradart.ro/biblioteca/carti/Carroll_Quigley__Tragedy_And_Hope.pdf

      When you read it, so much makes sense and falls into place. Written in 1966, it predicted much of what’s happened to our clearance system.

      This book should be standard reading in every high school.

    19. iStandUp says:

      Patrick,

      Thank you for bringing attention to this important exchange!

      The point for me is…

      There are two sets of rules in the financial markets…

      – one of us little people and publicly traded companies…

      – a second one for the rich and powerful…
      operating sight unseen in their back offices while the elected officials in DC and our supposed regulatory agencies look the other way…

      The rich and powerful with their second set of rules are allowed to STEAL our money and blatantly lie to the American people.

      Our retirement funds are considered “fatted pigs” and “fatted cows,” which the rich and powerful Wall Street Counterfeiters are allowed to SLAUGHTER whenever they need to feed their GREED.

      And all this is allowed to happen while the SEC and our elected officials look the other way pretenting there is no problem.

    20. Anonymous says:

      Huge ponzi scheme from 1930’s.

      http://en.wikipedia.org/wiki/Ivar_Kreuger

      It’s interesting reading Time magazine articles (available online) from the 1930’s. Serious deja vu.

    21. Traveller says:

      Patrick, if you read all these comments, i have a suggestion for you.

      Don’t waste this opportunity. Contact the Jon Stewart Show, and tell your story. I think the Jon Stewart Show would be a fantastic platform to talk about the shenanigans that are going on. You would have a sympathetic ear from Jon Stewart, and there is little chance of your story being manipulated there.

      Strike while the iron is hot…the public is interested right now and wants to hear more.

      Cheers,

      and good luck.

    22. Jim Hall says:

      Stewart should continue the heat and bring the hounds of hell after cnbc for its bullcrap and obvious profiteering via hedge funds.

      RICO charges, anyone.

      Where’s Cuomo?
      Out searching bonuses!!!!????

      Where’s the SEC?

    23. Ted says:

      I agree with Traveler. Patrick should try to get interviewed by Stewart. That could open this issue into the mainstream overnight.

    24. mhelburn says:

      Stewart was dead serious. It took a great amount of integrity to be able to confront Cramer for all of his misdeeds. Cramer lied and covered many times during the interview. The best part was the preparation for the show and the specific clips that Stewart had lined up so that Cramer could choke on his own words. The emporer is naked.

      Stewart verbalized the anger and the disgust that many of us hold for the shills.

      Nocera called Cramer and did a kissy face.. why would Nocera think that he needed to do that?

      This almost makes up for the Dateline debacle.

      If you rewatch the whole episode, Stewart is so cunning. He starts out soft and when Cramer starts to hedge and lie, Stewart unleashes the canons. Cramer was trapped and got what he deserved.

    25. AZZMAN says:

      remember dan dorfman and cnbc? well why is cramer allowed to release info about the stocks he promotes at 2:45 prior to his going on the show to his subscribers is this not front running?

    26. Anonymous says:

      Cramer uses actors to call in. It’s all fake and his hedge fund buddies trade opposite to his recommendations.

      If he says buy, they are all shorting into the volume spike.

    27. DCN says:

      For those who are interested, I have started a blog called Deep Capture Notes.

      This is not affiliated with Deepcapture.com, rather it seeks to serve as an unofficial support site. It is a work in progress, so far I have began to put together a bibliography related to deep capture, and have posted two visualization maps. In the future I would like to put together a post to investigative research tools, so people can join in the hunt.

      The site is in its infancy and is seeking ideas, and citations to add to its bibliography. Feel free to post them in the comments on the site.

    28. DCN says:

      Deepcapturenotes.wordpress.com

    29. Anonymous says:

      Cramer can kiss his snitchin’ azz goodbye. He basically has said, these CEO’s lie (which they do) and he then went on to say he has told the Justice Department what they need to do to get indictments. He has worked out a deal…and is pulling a Sam Antar on the big boyz in a self centered effort to save his own azz from prosecution. Ok Patrick, now is the time to grab Jon Steward to let him know all there is on the Cramer constellation of captured journalist and keep the heat on Cramer. They all need Club Fed treatment.

    30. Anonymous says:

      Overstock.com Inc. chief executive officer Patrick M. Byrne, a naked short selling conspiracist who moonlights as a Deep Capture reporter, claims that a sloppy story released on March 1 was actually a draft essay “inadvertently set live” on the website at midnight. Some time after the reportedly inadvertent witching hour release, Mr. Byrne did some editing.

      http://www.stockwatch.com/newsit/newsit_newsit.aspx?bid=Z-U:OSTK-1581471&symbol=OSTK

    31. Traveller says:

      I’m sure most on here have seen this video in its entirety, yet for those who haven’t i would encourage you to send the link to your friends who invest or have an interest in the markets:

      http://blog.indecisionforever.com/2009/03/11/jim-cramer-admits-something-weird-to-some-weird-guy/

      I’m disgusted by the fact that he claims that people should stay out of the game if they are not willing to manipulate the markets the way he says he does in the video. And he says that he know it is illegal in the video in plain english, yet he says the SEC looks the other way. He even says (at the end of the video) that fundamentals don’t matter in investing. And he is the most influential stock-picking spokesman on television for 90% of the country. What a sham!

    32. Fintas says:

      Bill Oreilly is attempting to do the smoke and mirrors and defuse Stewarts actions as moitvated by Political and at the same time refers to Jim C as a buffoon. Then he attempts to present his show as the show that has integrity. First, Jim C is NO buffoon. He is one intelligent man with a work ethic that could embarass most of us. That doesn’t mean he didn’t do the right thing as he could have years ago and been a driver for the cause of good. IT does mean that Oreilly couldn’t wipe Jims butt re market knowledge or other skills. So if there are a few SEC types out there reading this, maybe it’s time to give BILL OREILLY/FOX NEWS/AND NEWS CORP a lesson in what can and can not be said re a public company. Second Jon Stewart didn’t take on Jim C and Cnbc without APPROVAL. That means he has an ANGEL somewhere that is supporting him. I’d have not just Patrick’s reps contact him but ANY with influence so that they can move forward in a positive direction that may be using another medium or other. Yes we have momentum but this is when one want to NOT waste SILVER BULLITS but use them wisely.

    33. Fintas says:

      Cluster….F. It appears you are a fan of one of my favorite movies with Clint Eastwood. Thanks for the contribution and although I’m no expert one what one can do with pc skills, it is my belief that too many underestimated the skills of others and what they could do with the flaws in our system. I’d love to learn more of the HOWS so we can educate others. They didn’t take BSC down in days without some ORCHESTRATED CO ORDINATED attack.

    34. Fintas says:

      Here’s a gem that many probably haven’t read yet Patrick penned it in March 08. Unfortunately the main media didn’t give a hoot. Please take note of the RELATIONSHIPS and then you will begin to understand who knew who and who worked for whom and who did business with WHO.

      I’ve removed the http:

      deepcapture.com/jim-cramer-is-a-complicated-man/

    35. Scott says:

      First of all just wanted to say to anonymous you live in a very unsual “democracy” which appears to more resemble a banana republic military(mafia) dictatorship. The head of the NRA Wayne LaPierre(a French name see my final comment) can publicly declare “that the founding fathers understood that the guys with the guns make the rules.” http://www.youtube.com/watch?v=hSEnHJmurlE&feature=related ,http://www.youtube.com/watch?v=oj1rT4bszWg (this second clip is about the Pentagon) Oh yeah caught your democratically elected Congressional representatives on the hearing to repeal mark to market accounting. They are demanding that it be repealed within 3 weeks. Do any of these people remember Enron? Wow I really have no hope that your country will avoid having to pass through some nasty French history in the very near future.

      I suggest you all start praying asap. I am.

    36. Stunned says:

      HEY….STOP IT…you are FREAKING ME OUT.

      This is the second time I am warning you good people. If you don’t stop with this expose I will lose my mind.

      If you know and they know, why isn’t the FBI, CIA, SEC, IRS, OBAMAMAMA, Homeland Securtiy, who else, any other acronyms……

      Why are they so silent ?

      Again, either you are WRONG, or you are pushing me over a cliff. I don’t want no stinkin tea party, I am locked an loaded.

      Go on , keep it up, MAKE MY DAY.

    37. Anonymous says:

      Anon 42,
      That was a bold way of showing us just who is in charge. Wall Street, the banksters and hedge fund guest. Just think, we thought our elected officials ran the country….geeeezzzzzz…..
      Just as Ben Bernanke was asked by Senator Bernie Sanders to tell us where the 2.2 trillion went, he said “NO.”

      http://www.youtube.com/watch?v=kyl8c91qPbw

    38. Feedchipper says:

      The uncut dismembering of Jim Cramer by Jon Stewart is available in all its glory at the link below. The interview was necessarily shortened for The Daily Show broadcast.

      I would encourage the Deep Capture team to offer Stewart some opportunity to contribute here, perhaps in a guest blogging role, as he is surely a kindred spirit. Wow.

      http://blog.indecisionforever.com/2009/03/13/jon-stewart-and-jim-cramer-the-extended-daily-show-interview/

    39. Anonymous says:

      In the Stewart interview, Cramer mentioned he had a Wall of Shame.

      I wonder where he got this from? Is it possible Jimbo is a regular reader of DC and Sanitycheck? I kind of remember a deranged poster named Jim from a couple months ago.

      “12/21/05

      New Section At NCANS Forums – The Wall Of Letters. NCANS.net has a new section in the Forums where investors can, and should, send their complaint letters, which will be scanned and posted.

      The intent is to collect hundreds so that when all the powers that be start claiming that “they had no idea”, the evidence to the contrary is damning.

      The wall of shame.

      Concerned investors can now send copies of their letters they have sent to their legislators to ‘letters@NCANS.net’ … We accept all formats and will create an online ‘Wall of Letters’ where we will post digital images for anyone to see.

    40. Anonymous says:

      I predict Cramer will turn states evidence. Other lapdog scumbags that will sell out their masters early: Herb Greenberg and Lil GW. Also try Carol Redmond who had to change her name to Carol Remond to keep people from learning her past.

      http://www.thesanitycheck.com/Portals/0/BrokebackGradient_Large.jpg

    41. Joe Sixpack says:

      Screw Club Fed, everyone involved in this needs to die. I want to see the guilty hung in front of their offices on Wall St.

    42. Fintas says:

      For those who missed it, it appears the cable guys are closing ranks re the Stewart/Cramer interview and presenting it as a political agenda versus addressing the issue. First Oreilly with two of his fox bus woman. One was Darren McDowal and the second I am not familiar Then over to Sean Hannity with his table of contributers,Then there is Glenn Beck. I’d suggest those here who able and capable send off the details to INFORM these either foolish or deceitfiul individuals that it is NOT about Cramer. It is much more serious. Cramer clearly demonstrated HE KNEW and there were others who KNEW and KNOW. As a result either singular companies came down and in this financial system attack it nearly broke the system. Collectively we need to send it to the individuals and their editors etc.IF needed bring in a few talented lawyers to go after those who are allowing this. It’s up to us to continue to educate and provide the details. As we do more and more will come on board. WHY? They too have 401ks or are now experiencing consequneces of the attacks that COULD have been stopped LONG ago if those who enfoce the laws/inform, are watchdogs simply did their jobs

    43. Fintas says:

      I watched that unedited version of Stewart/Cramer and thought to myself as Jim discussed those losing their homes. Maybe someone should did up the document back in 2007 where Jim ENCOURAGED homeowners to walk away along with credit card holders. WHY? Jim and his ilk were trying to keep feeding the source with easy money and why he had Mozillo of Country wide and others attempting to force the FED to cut going back into 2006. Those in place KNEW that without EASY money the housing loands would stop, the cars wouldn’t sell and the crap BSC and others were exposed re leveage would come tumbling down. By the time he was doing his THEY KNOW NOTHING the strategy changed and the use of the tactic of having the masses put pressure on the FED to ease. So inform the masses to walk away. As many did that exacerbated the problem. Re comments re ERIN BURNETTE or others. Unfortunately those journalists or former experienced industry type have skin in the game. Otherwise how does one explain their defense of the use of ILLEGAL NAKD SHORT SELLING. Who thinks Cramer didn’t know some at BSC/LEH/GS/MS/AIG/FNE that were making calls to those to say HELP!

    44. QUINTDAD says:

      Patrick; I hope somehow,someday soon, as YOU are interviewed on John Stewarts show and he begins to roll the clips of YOUR years of interviews,( as he did with Cramer), we will finally break through the shroud of manipulated corruption and shine the light on the government agencies,hedge funds,brokers,and all the rest who contributed to our markets collapse….

    45. Sheila says:

      Patrick,

      You completely and utterly rock, as always.

      Keep fighting the good fight!

    46. Frankenstein says:

      Has anyone EVER been able to take down Wall Street fraud? Too much power and money there….Is there will in Obama to take this on? What will it take? Words won’t do it. Anger won’t do it. Action will. But who will go against those powers and make permanent rule changes?

    47. DCN says:

      Joe Sixpack,

      I share your sentiment; and other then utilitarian reasons, I have little problem with the death penalty. However, intelligence professionals will tell you it is counterproductive to execute most spies and terrorists. Why? Because you always need to keep going back to them for other investigations, or to validate new intel. They are useless dead.

      I imagine some will need to be executed to set an example, put the fear into those still on the run. This will help flip miscreants, having them to turn on one another to be saved from the gallows. It is a good carrot to use.

    48. sean says:

      Thought you guys would like to see this..

      U.S. Senator wants to clothe naked shorting

      Kaufman wants to clothe naked short selling
      Published: Tuesday, March 10, 2009 1:53 PM CDT
      U.S. Senator Ted Kaufman, D-Delaware, again called on the SEC to reinstate the uptick rule and tighten rules and enforcement against the practice of naked short selling – defined as when traders sell stocks they don’t own and don’t intend to deliver.

      The practice results in the stock going back to the seller or broker and is sometimes blamed for accelerating the decline of a stock under selling pressure.

      http://www.ledgerdelaware.com/articles/2009/03/13/news/doc49b6b02089fb7116194697.txt

    49. golden goose says:

      Patrick you have done a great job in this fight but if Warren Buffet was such a good
      friend he would stand up and buy 2 million shares of Overstock and come out on TV and say Pat Byrne is gonna win his Lawsuit against Wall Street and 3 Billion dollars thats why i bought the stock..Secondly if I had his money and you were my best friend I would have already come on TV and told the American people the SEC and DTCC are a bunch of crooks..Put some options on his stock and watch them pound Berkshire into the ground… Warren Buffet has no Ba lllllsssssssssss as far as im concerned he should get the Raisan Bran out of his pants and tell the Ameican public how crooked the system is… I love you Pat but Warren Buffet isnt a friend if he wont stand up for a friend..I would have done the right thing he gave 2 billion to cancer research 2 million shares at 10.00 is 20 million thats what friend do …Warren if your listening stand behind your so called friend Mr Pat Byrne and buy Overstock and tell the world the SEC IS A BUNCH OF CROOKS… THATS WHAT FRIEND DOES THEY DONT HIDE WHEN A FRIENDS IN TROUBLE THEY FIGHT THE FIGHT AND STAND TOE TO TOE AGAINST THE ENEMY…ITS TIME TO MAKE A STAND WARREN AND SAVE THE COUNTRY FROM TOTAL CHAOS…..

    50. golden goose says:

      OVERSTOCKS GONNA GO UP TENFOLD WARRENS DOWN 40% TIME TO BRING THE HAMMER DOWN ON THE SHORTS……SEC CROOKS

    51. sean says:

      Getting better as we speak…..

      Ex-SEC lawyer indicted in fraud
      http://www.dallasnews.com/sharedcontent/dws/bus/stories/031409dnbusoffill.30521dfc.html

      A 5-year-old web of alleged market manipulation and e-mails touting can’t-miss penny stocks culminated Friday in the federal indictment of Dallas attorney and former white-collar crime cop Phillip W. Offill.

      The former Securities and Exchange Commission litigator faces a single charge of conspiracy to commit registration violations and nine counts of wire fraud, the U.S. Department of Justice said.

      BEDKNOBS AND BROOMSTICKS.

    52. Dr. Jim DeCosta says:

      Here’s a summary piece on a paper I’m in the middle of.

      IT’S REALLY PRETTY SIMPLE

      1) There are investors and then there are those that administer our clearance and settlement system whose co-owners act in a “gate-keeping” capacity as market intermediaries in our clearance and settlement system. Let’s refer to the two parties as the investors and their DTCC and NSCC participant “hosts”.
      2) The investors come to the table with an awful lot of money but not much financial expertise as to how Wall Street operates.
      3) The hosts come to the table with a vastly superior knowledge of, access to and visibility of the rather complex inner workings of our clearance and settlement system.
      4) The hosts are forbidden by many laws to “leverage” this superiority over the investors they serve such as in making an effort to reroute the funds of less financially-sophisticated investors into their own wallets. Instead the hosts are mandated “to act in good faith”.
      5) On Main Street the delivery of that which you sell is a no-brainer. There is transparency present and business people know whether or not that which they purchased was delivered on time and whether or not that which was delivered was that which was “advertised” for sale.
      6) On Wall Street the hosts have taken away transparency. Usually this is theoretically associated with “privacy issues” or “proprietary trading methodologies”.
      7) Due to this lack of transparency, investors on Wall Street are forced to rely on their brokerage firms to whom they paid a commission, the SROs and the regulators to make sure that what they paid did indeed get delivered.
      8) Massive monetary amounts of conflicts of interest arise between the hosts and the investors when it comes to the delivery of that which investors buy. The hosts are very, very heavily financially incentivised to make sure that the securities that investors purchase do not get delivered on time or preferably at all.
      9) After an investor tenders his funds for the purchase of securities the seller of securities has the option of delivering or not delivering that which he sold. The problem is that once the funds of investors are accessible to the would be sellers of securities the impetus to deliver that which was sold goes down immensely.
      10) If the would be seller chooses not to deliver that which he sold the investor always has the failsafe device to “buy-in” the delivery failure so that those securities purchased can finally be delivered to him albeit in a better late than never fashion.
      11) The problem is that over the years the hosts (the DTCC and NSCC participants) have gone out and secured all of the sources of legal empowerment to effect these “buy-ins”. They are now in the enviable position of being the ONLY people to be empowered to provide the ONLY solution available when the sellers of securities absolutely refuse to deliver that which they sold.
      12) The management teams of the hosts (the DTCC and NSCC) have decided to LEVERAGE this attaining of a monopoly on the sources of empowerment to provide the ONLY cure available on behalf of the financial interests of their abusive bosses that co-own the DTCC and NSCC.
      13) With the refusal by the ONLY party left with these sources of empowerment to deploy the ONLY cure available when the seller of securities absolutely refuses to deliver that which he sold (a buy-in) the NSCC participants that so choose may sell all of the nonexistent securities they choose to while counting on their employees to continue to refuse to provide the ONLY cure available. Recall the research of Evans, Geczy, Musto and Reed (2003) revealing that only one-eighth of 1% of even “mandated” buy-ins ever occur on Wall Street. Now you know why these seemingly aberrational statistics now make a lot of sense.
      14) The DTCC and NSCC management teams have found themselves in a bind. When the NSCC participants whose behavior these management teams are mandated to regulate refuse to deliver that which they sell they can either follow their congressional mandates to “act in the public interest, provide investor protection and “promptly settle” all securities transactions” by executing buy-ins OR they can LEVERAGE this monopoly they have attained and look after the financial interests of their abusive bosses that have chosen to misbehave because of their employees’ willingness to shirk their congressional mandates. These management teams simply chose the latter which has resulted in a transfer of investor wealth to these hosts of unfathomable proportions.
      15) This becomes a very troubling issue when the management teams shirking these congressional mandates just happen to be the “self-regulatory organizations” (SROs) mandated “to as the first line of defense against abusive naked short selling frauds”. If this is the behavior being displayed by the “securities cops” just think of what the really bad guys must be doing on their own turf devoid of this “first line of defense”.

    53. DCN says:

      I did some real link analysis this time, here’s what I have so far:
      http://deepcapturenotes.wordpress.com/2009/03/14/link-analysis-2/

    54. Fintas says:

      Golden Goose.

      What you should consider is TIMELINES.

      Yes, Warren could EASILY have done something. Yet let’s not forget how he invests and the strategies HE uses and what tactics. Ol Warren was doing his fair share of talking down this market not long ago. As that was occurring he was using a strategy he has used often. And he had a goal. Buy assets on the cheap. What he and others did NOT see coming is that THIS TIME it was different. THIS time the shenangins allowed others to use the tactics against our own houses etc. Someone should dig up the clip with Cramer using the term an act of Financial terorism back in in the May-Oct 08 timeframe along with Huckabee inferring the same in the SEPT-NOV 08 timeline. So yes Warren could do something. Does he know. the game. I don’t see how anyone with his experience, network exposure could not. thnk about it and use your own lifes experiences. Will HE do something? Doubtful as he’s one whose profile is not to be PROACTIVE. He does his I’ll wait it out and I’ll exploit. The problem for him and others is that they thought it would only be the MBIA’s etc. Sorry Warren they came after YOU. And YOU allowed them to do so. I’m not one of your investors but almost was many many many years ago in the $1000 a share price for the A;s.However if I was and I TRUSTED you to use ALL of your talent to do YOUR job and realized that YOU as many others have shown: FAILURE. I’d be not angry but PISSED. We can break this down to the a simple task that we all do every day or expect others to do. DO YOUR JOB. Yes this is a great nation. But did we really have to go thru a 1929 or a Pearl Harbor or a 1987 or a 1998, a 9/11, an Enron, a Anderson Howard, a Worldcom etc and now this AVOIDABLE attack. Just do your damn jobs and if you will not you WILL be removed and the ETHICAL/INTEGROUS PATRIOTS WILL do it for you. Clean it up boys and girls. And enough of the tactic of spreading confusion. THOSE who KNOW..KNOW..Our history shows clearly that at a point and time action is taken. This time will be no different. What is not know is by whom and how. I’MHO it will be a coeterie of wealthy that were seriously affected and acting in a co ordinated way.All we the collective have to do is FEED them the details. They will use them for their benefit when THEY decide and not some fool that are always the last to see it coming..

    55. irieblue says:

      I guess Bethany was on Jon Stewart back in Jan… She really doesn’t come across as a reporter capable of doing her own research..

      http://www.thedailyshow.com/video/index.jhtml?videoId=215930&title=bethany-mclean

    56. Fintas says:

      If you haven’t read BOBO’s latest take the time to do so and then pass it along to ANY you think can help, will help, are helping. And for those who DO NOT help, document such for when the time comes the weight of evidence will clearly show they KNEW but did NOT do what they could have or should have.

      http://www.thesanitycheck.com/BobsSanityCheckBlog/tabid/56/EntryID/764/Default.aspx

    57. Jeff Mitchell says:

      I nominated you as a guest for the Daily Show. The current leader is Rahm Emanuel at 327 votes which I think you will surpass given your cult like stature with your audience :). Personally, I think you would be putting your career in jeopardy by appearing, and that’s actually appealing to me, but I also know at a minimum you would be quite entertaining. http://guests.dailyshownews.com/akira/dtd/16867-2313

    58. kevin says:

      Jeff, I know you’re typically short, but one that plays by the rules (borrows the shares) as far as I can tell from your posts on Silicon Investor and respect you as an investor. I am one that actually supports a limited amount of shorting to smooth out highs and lows, although I think the owners of the stock should get a piece of the action (full disclosure on their statement) when it is lent out. My problem is when there is no mechanism to ever have a buy in. Without delivery, the whole market turns into a fraud.

      Thanks for nominating Patrick.

    59. hwh says:

      Little help willcome willingly from DC. The majority loathes capitalism.

    60. Anonymous says:

      This video has been removed due to a terms of use violation.

      This is why we need Patrick on TV. The Youtubes of the world censor anything progressive.

    61. You can find it at TheDailyShow.com

    62. Anonymous says:

      I meant the Griffin video (post 68).

      Patrick, I sure hope you accept if you get an invite from the daily show.

      The public is ready to eat Wallstreet alive and if you were to go on and explain what it means for the big clearing houses to only fractionally back their obligations to the public or to explain that the Federal Reserve and DTCC is privately owned, you’d break this story wide open.

      You’re a true hero and I admire you for putting up with the bashers.

    63. Dr V says:

      Voted for Dr. Byrne.

      Deep Capture needs to package a nice, smaller, damning story and get on Digg or Slashdot. If “Dugg” then you’re looking at many, many millions of readers in one day.

    64. Fintas says:

      Cnn weighs in with Reliable Sources Howard Kurtz and Jon ? as they both demonstrate they are either CLUELESS or are COMPLICIT. Instead of suggesting that they go deeper into the topic and why Jon Stewart had Jim Cramer on the show. They continue to present it as someone either having a political agenda or someone picking on a STOCK PICKER who made a some bad calls. IF this was NOT such serious subject and had such serious consequences to our country one might find it acceptable that these clowns do what they do. BUT, unless any here have been in a coma the subject is SERIOUS and there are NOW MILLIONS unemployed, MILLIONS losing homes and HUNDREDS of millions how have been affected because many did NOT do their job. I’d suggest many here send some snowflakes to those at CNN. It’s obvious to this person as I’m sure it is with many here that the MAJORITY of these mouth pieces haven’t a CLUE re the mechanics of the system. YET they are out there talking about such. Doesn’t that give you warm and fuzzies?

    65. mhelburn says:

      OReilly on Fox tried to make it a political spin… They label anything that is not their own nasty name-calling some liberal agenda.

      Talk about clueless. The same old political fighting has got us to this horrible situation. While they fight between parties, the country burns down… Instead of coming up with problem solvers these hack spinners opine from behind their desks. This Cramer thing has shown how out of touch some of the talking heads are.

    66. Stunned says:

      Good morning,

      Patrick, With all respect, I would urge you to redesign the “deepcapture’ website along the lines of a Huffington Post.

      As it is , the site is hard to read, and follow. A more elegant site with “headlines” would allow more readers to be less overwhelmed, including an area where all pertinent video’s or articles are displayed.

      I would especially like to be able to see all of your vids, along with notables who were rasing the red flag years ago.

      A graphical with all the badboys mugs displayed would also allow us to see how the system has been infiltrated.

      A graphical of which politicians voted/ did not vote for what would also allow us to understand the timeline of this catastrophe.

      Thanks again for your efforts. It is greatly appreciated. Some of my friends found the site hard to navigate, and after reading some of the material were turned off ( who wouldn’t be ) by the magnitude of what your team has uncovered.

    67. Anonymous says:

      Fintas, no warm and fuzzies. Just cold pricklies.

    68. Fintas says:

      Mhelburn. First thanks for your contributions and I voted yes for Patrick on the Stewart link. Here’s the way I see it and how I think the Oreilly’s and gang should be addressed.WE the INFORMED can ALLOW the UNINFORMED to use their medium to confuse the MASSES or WE the INFORMED can use our collective strength to INFORM and by doing so FORCE those who are either doing it because of lack of knowledge or those who are DOING IT INTENTIONALLY. I’ll put OREILLY in that category along with KURTZ, HANNITY, CAVUTO, GASPARINO, FABER, and a lit that exends beyond my shoulder to the tip of my hand. We can SAY ENOUGH. We can find OUR champions and put them OUT THERE to combat those who are COMPLICIT and GUILTY. Stewart is JUST the tip o fit. HE wasn’t allowed to do what he did without support. Find those supporters. Come to think of it THEY WILL FIND US as I’m sure they have. They didn’t get that video clip by accident. There are MANY MANY MORE that clearly demonstrate the sins of others. We can and WILL turn this ship so the wind is behind our backs versus we constantly fighting a head wind. IT REALLY is UP TO US. And those in power will LISTEN to the COLLECTIVE or they will fall to the lessons of HISTORY. Thanks for doing your part. I continue from my end to inform as many/write as many and have them pass it along. While documenting it all. Cramer fell victim to documentation. Come to think of it so did Nixon.

    69. Redwood says:

      What stunned said in post #76. The content here is superlative, but the format is as cumbersome as it is plain. Older material just gets lost. New posts are infrequent enough that the comment threads get too large to track. I would shy away from a Huffington Post type format as it’s way too busy and ends up having the same kinds of problems from the other direction, but there are thousands of attractive, well designed blogs that allow for easier access to their content. I’d say the time is high to invest in such improvements, by bringing in a webmaster dedicated to that purpose who is not necessarily concerned with developing or presenting the content itself. There are a lot of ways to make such a blog finance itself based on the number of eyeballs it captures, and this blog is certainly capable of capturing more eyeballs than it does currently.

    70. Frankenstein says:

      I agree. A attractive change of format would really help. It is cumbersome here.

    71. mhelburn says:

      Here is a labor of love… one of the supporters is trying to help keep things organized.

      Deepcapturenotes.wordpress.com

    72. RMR says:

      Patrick belongs on the Daily Show– on Bill Maher, Thom Hartmann, Rachel Maddow, Keith Olberman and every other “populist” justice oriented show.

      So do Bobo, Dave, Dr. DeC, Tommy T, Mark Mitchell, Robt. Shapiro and all other market reform advocates (masks optional) who know how the game has been criminally rigged by and for the insiders– and can let the public know in no uncertain terms– how and by whom they and their retirement funds have been/are being plundered.

      The extraordinary window of opportunity opened by the Daily Show should now be exploited for all its worth. Here’s hoping Patrick’s pr people will be instructed to carpe diem pronto– and exert every effort to provide Patrick– and others– (a veritable swarm of reformers) to those few but highly visible media outlets that will welcome them and the illuminating, empowering message they bring.

    73. Frankenstein says:

      Again I agree. Like Rahm Emanuel says, Don’t waste a crisis. Everyone’s blood is boiling about Wall Street. Wall Street is sort of on its knees, in a time of vulnerability and weakness. Smack ’em hard NOW! If the naked shorting abuses and DTCC phantom shares get enough play now, congress will latch on and make it their pet project. I wonder if President Obama has any idea of the abuses. He’s the kind of guy who would be steamed if he knew such inequities existed and the American people were getting harmed badly. As well as businesses. Git-R-Done.

    74. Dr. Jim DeCosta says:

      Here’s the first third of a letter I sent to the SEC today. I’ll create a link once they post it on their website. Try your best to gain an appreciation for the role of the NSCC “C” sub accounts in abusive naked short selling frauds.

      “I’m not convinced that people truly appreciate the brilliance of NSCC participating “banksters”, prime brokers, market makers and clearing firms having their employees (NSCC management) acquire a monopoly on the ONLY cure available when these same bosses refuse to deliver the securities that they sell (a “buy-in”) and then have these employees intentionally withhold the ONLY cure available all in an effort to make the funds of the U.S. investing public being defrauded to flow into the wallets of the bosses/banksters refusing to deliver that which they sell”. Dr. Jim DeCosta

      A CLOSER LOOK AT THE NSCC’S “AUTOMATED STOCK BORROW PROGRAM” OR “SBP”

      Unless the SEC is either totally inept or totally corrupt I cannot for the life of me figure out why to this day they still haven’t rescinded their prior approval of the NSCC’s SBP now that they know or would be negligent in not knowing what it has morphed into. Assuming that this inaction is associated with the lack of a working knowledge of just how corrupt this program has become I offer the following.

      Let’s assume that the U.S. corporation “Acme” which just began trading today has 100 million shares “issued and outstanding” and that all are being held in “street name” at the DTC. Let’s further assume that there are 10 NSCC participating clearing firms “A” through “J” that each hold 10 million shares of Acme in their CNS participants “share” accounts. Let’s go one step further and assume that each of the 10 clearing firms have “donated” 2 million shares of Acme into the SBP’s “lending pool” of securities.

      Thus there are 20 million shares currently in the SBP available to cure failures to deliver (FTDs). The financial incentive to donate one’s own client’s shares into the SBP is immense as the donor brokerage firm receives the use of the cash amount of the securities loaned and the investor whose shares are being loaned out to the mortal enemy of its investment, the abusive naked short seller, never realizes this and does not participate in receiving the rental income earned by that which he purchased. Note the obvious conflict of interest.

      The DTC subdivision of the DTCC under these circumstances does indeed have 100 million paper-certificated shares in its vault system to back up each of the shares held at the NSCC in an electronic book entry format. This policy resulted from the congressionally mandated “immobilization” of all shares within DTC vaults and the “dematerialization” of paper-certificated “shares” THEORETICALLY into an equal amount of electronic book entry “shares”.

      On the first day of trading an abusive naked short seller operating through a different brokerage firm “K” with no shares currently being held at the NSCC decides to naked short sell 2 million shares of Acme and intentionally refuses to deliver them because for one reason they never existed in the first place. Let’s assume that b/d “D” bought them. Addendum C to the rules and regulations of the NSCC allows the NSCC management to reach into the SBP’s “lending pool” and extract 2 million shares to cure the delivery failure. Let’s assume they’re b/d A’s 2 million shares. These 2 million shares are then debited from A’s 10 million participant account shares (leaving 8 million) and sent to b/d D’s participant “shares account” (now at 12 million).
      Since the shares held in the “lending pool” of the SBP are held in an “anonymously pooled” format let’s metaphorically dye this particular “parcel” of shares red so that we can trace it amongst the other shares which are all metaphorically colored white.

      NSCC policies then for some insane reason allow b/d “D” (the purchaser’s b/d) to resubmit these 2 million recently borrowed “red” shares right back into the very same lending pool from which they just came out of as if they never left in the first place. The lending pool contents went from 20 million shares to 18 million for the blink of an eye and then back to 20 million as if by magic.

      At the end of this abusive naked short sale there are still 100 million shares held in the DTC vaults in a paper-certificated format. The paper-certificated shares had nothing to do with this transaction and were never touched. “Cede and Co.”, the nominee of the DTC was and is the legal owner of all of these shares both before and after the naked short sale. The “red” parcel of shares sits back in the lending pool ready to be “counterfeited” once again while curing yet another failure to deliver. Soon this one “red” parcel of shares may have a dozen different “co-beneficial owners” after having cured a dozen different failures to deliver.

      The “shares” accounts at the NSCC now reveal that clearing firms “B” thru “J” still own 10 million shares except for b/d D’s account that goes up to 12 million shares. B/d “D” now has 4 million shares residing in the SBP lending pool. Two million are colored white and 2 million have been dyed red. Clearing firm A’s “share” account now shows a credit for 8 million shares none of which are in the SBP.

      Here’s where things get interesting. Since clearing firm “A” can demand the repayment of the shares it “donated” to the SBP the NSCC decides to credit a special “C” sub account at the NSCC with a 2 million share “long position”. This “long position” will then “sort of” be credited to the monthly brokerage statement of the investor at b/d “A” indirectly deemed to have been the purchaser of the “red” shares that were donated.

      Note that since the NSCC management insists that all shares in the SBP lending pool be held in an “anonymously pooled” format this investor can never be identified and will never learn that he is essentially a “co-beneficial owner” of his parcel of shares with perhaps a dozen other investors. The NSCC insists on NOT knowing the identity of clearing firm A’s clients. That information would bring about certain liability issues as the investor whose shares are essentially being “counterfeited” via the SBP would now be identifiable and have a cause of action.

      In reality the investors holding Acme shares at b/d “A” beneficially own a “proportionate interest” in that which b/d A has at the NSCC. They beneficially own a “proportionate interest” in the 8 million legitimate “shares” (with a paper-certificated share backing up its existence) in A’s participant “shares account” PLUS A PROPORTIONATE INTEREST IN THE 2 MILLION SHARE “LONG POSITION” HELD IN THE NSCC “C” SUB ACCOUNT. If the investor that purchased this “proportionate interest” in what basically amounts to an IOU were identifiable he might be able to discover that this IOU is a very peculiar IOU in that those with the power to demand its payment (the NSCC management) plead as if on cue to be “powerless” to do so. Well isn’t that fortunate for the abusive NSCC participants that sold securities but refused to deliver that which it sold. Having loyal employees willing to forgive your delivery obligations to U.S. citizens is a very interesting concept.

      Note that there are no paper-certificated shares in existence anywhere that back up that 2 million share “long position” sitting in b/d A’s “C” sub account at the NSCC. Recall that the criminal making the abusive naked short sale knew that what he sold didn’t exist; that’s why he couldn’t deliver that which he sold. You don’t “accidentally” forget to deliver the securities that you sell. The “long positions” credited to any NSCC participant’s “C” sub account older than perhaps T+6 or so (the maximum age of a legitimate delay in delivery) reflect failed delivery obligations only and in the case of abusive naked short selling frauds represent the number of nonexistent shares yet to be addressed by buy-ins.

      At any given time these invisible (to investor’s and Acme management’s eyes) “long positions” may reflect the existence of shares whose delivery were delayed for a legitimate reason. However, since those empowered to do buy-ins on Wall Street (the NSCC and DTC management teams) refuse to then as any U.S. corporation ages the proportion of these “long positions” associated with legitimate delivery delays gets less and less.

      Although mandated to by the 1933 Securities Act (”The Disclosure Act”) the DTCC, DTC and NSCC absolutely refuse to reveal to prospective investors or to Acme’s management this very “material” information regarding the number of “long positions” held in “C” sub accounts they are holding in a given corporation. Note the two different issues here. One involves allowing the creation of these incredibly damaging “long positions” and the other is the refusal to reveal the size of these “long positions” once established. Most forms of fraud are typically associated with a series of “cover up” frauds needed to “cover up” the existence of the primary fraud whenever it is in danger of being revealed.

      UCC Article 8 refers to this 2 million share “long position” in the “C” sub account of b/d “A” as consisting of 2 million “securities entitlements”. Unfortunately for Acme investors UCC 8 allowed them to be readily sellable by their purchaser even though in the case of ANSS they don’t exist. There are now 102 million shares of readily sellable “Shares and/or securities entitlements” being “held long” in the NSCC accounts and sub accounts.

      In the case of ANSS frauds the “supply” of that which is readily sellable in Acme’s share structure has been manipulated upwards by 2 million shares in this transaction. The share price has been manipulated downwards via this transaction. Why would the authors of UCC Article 8 allow these incredibly damaging “securities entitlements” resulting from these “long positions” to be readily sellable and capable of manipulating the share price of Acme downwards?

      The authors of UCC 8 PRESUMED that the DTCC, DTC and NSCC holding 15 of the 16 separate empowerments to execute buy-ins when it becomes obvious that one of their abusive participants had no intent whatsoever to deliver that which it sold would buy-in that delivery failure. They knew that the DTCC and NSCC were mandated by Congress “to act in the public interest and to provide investor protection”. After all, the ONLY cure available when the seller of shares absolutely refuses to deliver that which it sold is the buy-in.

      The PRESUMPTION of the authors of UCC 8 was wrong because to this very day the NSCC management still has the audacity to proffer that it is “powerless” to execute buy-ins no matter how long its abusive participants refuse to deliver that which they sold to unknowing U.S. investors. Remember the NSCC also has the Section 17 A congressional mandate to “promptly settle” all securities transactions.

      In their decision to make these “securities entitlements” readily sellable instead of “restricted” for resale the authors of UCC Article 8 also PRESUMED that the SEC would be exercising its “comprehensive oversight” over the NSCC since it acts as a “registered clearing agency”. These authors also took comfort in the fact that the SEC has a congressional mandate to provide “investor protection and market integrity” and that they have “plenary rulemaking authority” in these matters.

      On the website of the NSCC and in amicus curiae briefs filed by the SEC there’s an interesting characterization of the NSCC’s SBP. It supposedly “increases the likelihood that the purchasers of shares will receive delivery of that which they purchased by settlement date”. Did the purchaser of those 2 million nonexistent shares that were illegally naked short sold really think that he was paying full retail price for a mere readily sellable non-voting IOU that nobody is empowered to call in?

      What the SBP really “increases the likelihood of” is that the purchaser of nonexistent shares will never realize this fact and will never raise a ruckus after being defrauded. But was he in fact “defrauded” because after all whatever he bought he has the right to resell? Both the purchaser of the 2 million fake shares in this case as well as ALL other shareholders of Acme have been defrauded as the readily sellable “long positions” held in “C” sub accounts accumulate at the NSCC and the “securities entitlements” they procreate accumulate on the books of the NSCC participants and on the monthly brokerage statements of Acme’s investors. As these readily sellable “securities entitlements” accumulate the share price of the corporation, by definition, has to go down. The supply and demand variables still interact to determine share prices through the “price discovery” process it’s just that these variables are subject to manipulation by those refusing to deliver that which they sell and by the NSCC management refusing to provide the ONLY cure available when their bosses defraud U.S. citizens.

      Why is this fraud? It’s because the parties that have cleverly established an absolute monopoly on the empowerments to provide the ONLY known cure when criminals refuse to deliver that which they sell (a buy-in) refuse to do so even though the reason that “securities entitlements” were allowed to be readily sellable was PREDICATED on the fact that should these acts of fraud occur they would be “promptly” addressed (bought in) by the party with the congressional mandate to “promptly settle” all securities transactions (the NSCC) as well as by the parties that hold 15 of the 16 sources of empowerment to execute buy-ins (the DTC and the NSCC). Are you starting to appreciate the brilliance of this fraud? You essentially corner the market for the “antidotes” to this toxic waste and then you spread the toxic waste throughout the share structure of U.S. corporations after having bought life insurance policies (established naked short positions) on all of the corporations keeling over.

    75. DCN says:

      Thanks for the plug mhelburn. Any info or ideas on how to organize things are welcome.

      Stunned had a good idea:
      “A graphical with all the badboys mugs displayed would also allow us to see how the system has been infiltrated.”

      I was thinking of something along the lines of the “Iraq’s 55 Most Wanted” deck of cards circa 2003.

      The aces being the ‘sith lords”: Boesky, Milken, Steinhardt… Jokers are Cramer and GWeiss, ect.

      Deepcapturenotes.wordpress.com

    76. Ron says:

      While I enjoy watching Cramer every night, one must remember the show is primarily entertainment. The financial networks exist to promote their advertisers financial and investment products. Who would expect them to warn about the credit bubble or coming Washington national debt collapse which will destroy much of the remaining private wealth in America today or what this will do to the dollar, the stock market, bonds, gold or the real estate market?

      It is ironic that Jon Stewart and a comedy show instead of the regulators or news media had to bring all of this public. Also in Cramers defense he is far less guilty than most of the other financial media for their efforts together with Wall Street, the politicians & incompetent regulators for what has happened.

      China is now worried about their dangerous over investment in US Treasury obligations. Washington ’s long-term choice is either repudiation or monetization. For monetization to be effective, the depreciation in the dollar would have to be substantial and this in turn would dramatically raise prices of imports for American consumers which would mean a tremendous drop in foreign imports. Debt monetization would cause more disruption to exporting nations than selective repudiation of Treasury debt.

      The Campaign to Cancel the Washington National Debt By 12/22/2013 Constitutional Amendment is starting now in the U.S. See: http://www.facebook.com/group.php?gid=67594690498&ref=ts

      Thanks,

      Ron with 30 plus years in the investment business and banking industry.

    77. anonymoose says:

      “badboys” rogues gallery starters list:
      add – subtract – modify names, categories as appropriate.

      industry captured POLitico$– Gramm, Shelby, Dodd, Lieberman, Shumer, Tauzin, Summers, Paulson, Gaithers, Kashkari,

      public trust betryaying regulators: Cox, Thomsen, Schapiro, Gensler, all DTTC & subs,

      captured journalists: nocera, ingrassia, norris, greenberg, weiss, remond, doyle, selected CNBC,

      industry insiders/hedge hogs/bezzle boys: chanos, loeb, ichan, rocker, rich, boesky, knight, cramer, madoff, stanford, steinhardt, mozillo,

      above the law bankstas: morgan s, morgan ch, citi, goldman, boa, FED,

      institutionally owned & onerous: SEC, DTTC, NSC, COMEX, FINRA, NASD,

    78. Anonymous says:

      If you haven’t done so, vote for Patrick.

      http://guests.dailyshownews.com/akira/dtd/16867-2313

    79. buybuybuy says:

      Does my heart good to see the college age crowd picking up on this stuff more and more. Hope you guys are all supporting Ron Paul`s bill to audit the FED for the first time ever as well. The DTCC will be next. Let`s turn the lights up so bright that we can look right thru these institutions that control our destiny in secret. WE THE PEOPLE can be an unstoppable force IF we learn the truth and act intelligently to improve the world. If we don`t, well I don`t want to think about it.

    80. DCN says:

      Bibliography has been updated to include academic articles. Videos, and sorting of journalists added.

      http://deepcapturenotes.wordpress.com/

    81. Anonymous says:

      REPLY TO JEFF MITCHELL

      Regarding this comment you made
      “cult like stature”…I guess you can say the same for the Elgindy fan club which you seem to head up nicely. See, there is no difference in “cult like stature”…

      OH Wait ! But there is a difference, Dr. Byrne’s cult does not seem to be followers of CONVICTED FELONS…..

      How’s them appeals for your Cult Leader coming?

    82. Fintas says:

      Great work on the wordpress. If someone has the talent it would be nice to see something set up where one could point and click and get access to Fox News/CNN/CNBC etc and then their reps etc and then one can simply grab something like the word press etc and send it to each entity while also documenting who responds, who doesn’t and who is actively trying to be PART OF THE SOLUTION or are they PART OF THE PROBLEM. So far most of them are PART OF THE PROBLEM and coverup.

    83. DCN says:

      Blacklist Deck of 55 most wanted has begun. Ace through Queen so far. Don’t really have an order of battle to go by, so some input is needed.

      http://deepcapturenotes.wordpress.com/2009/03/16/blacklist-deck-of-55-most-want/

    84. Frankenstein says:

      The SEC makes too much money from the DTCC and their counterfeiting…. Do you really think it will ever end?

    85. davidn says:

      The media is starting to throw sacrificial lambs (Cramer) into the fire, hoping they can calm the mob, but don’t forget this is way bigger than him and way bigger than naked shorting or failing to deliver.

      If (when) Patrick goes on the Daily Show, I hope he can divert the conversation from naked shorting and Cramer to bigger issues.

      Much of the problem is “failure to own” by the custodians who literally are not keeping their promises and only fractionally backing their obligations.

      For example, if a crooked custodian noticed a stock was falling, they could dump their entire customer position on the bid, causing the stock to go into a freefall, so they cover customer obligations at a much lower price.

      Any new naked shorting rules wouldn’t stop this as they would be selling from their own long position and these would be long sales.

      The real problem is that custodians should go to jail if they send out statements implying they own an asset when they don’t. Isn’t that mail fraud?

      It’s hard to stay on topic because fractionally backed share ownership is something the owners of the Federal Reserve, who created fractionally backed bank notes and who run this country, believe is their right as banksters.

    86. davidn says:

      Think of the misallocation of resources which comes from allowing infinite supply of IOU’s to represent bonds, commodities and equities.

      For example, futures were originally set up to protect farms and mines from future price declines. They would set the price prior to producing.

      Now we are in the crazy position that as people around the world starve, farmers can’t make enough money to justify planting crops and mines close because they can’t sell at current prices even though there’s lots of demand to buy their product.

      We’re in an unsustainable system where you could cut down the last tree, eat the last fish or burn the last gallon of oil and the price wouldn’t go up.

      Prices are set by supply and demand of the IOU, rather than the actual commodity.

    87. Dr. Jim DeCosta says:

      davidn,

      Your point is well made. In our DTCC-administered clearance and settlement system we actually have 2 separate markets in each corporation’s shares. In the one we have visibility of the “supply” variable is made up of the “supply” of legitimate shares plus the “supply” of readily sellable IOUs or “securities entitlements”. This market trades at artificially depressed levels. The “supply” variable has been manipulated upwards resulting in the price being manipulated downwards.

      In the other market which is invisible to us the “supply” variable is made up of legitimate shares only. These have a corresponding paper-certificated share in existence to justify their existence. The only way to access this market is to put in a buy order under a “guaranteed delivery” basis. Since the resultant trade would be well above the existing market levels nobody on Wall Street will accept one of these. Why? Because it would give away the corrupt nature of the market that is visible to us.

    88. sean says:

      I believe that Patrick is scheduled to be on the Daily Show tonite at 11;00pm!!!

    89. Just heartbroken says:

      ….the rib tickler condum leaked…..

      but i thought it was suppose to be tight…felt good while it lasted…….

      130 counts of corruption for schemes that defrauded the state Senate and others of more than $3.5 million and allowed him to live a lavish lifestyle.

      http://news.yahoo.com/s/ap/20090316/ap_on_re_us/senator_investigation_trial

    90. iStandUp says:

      Dr. Jim DeCosta,

      You stated:

      “In the other market which is invisible to us the “supply” variable is made up of legitimate shares only. These have a corresponding paper-certificated share in existence to justify their existence. The only way to access this market is to put in a buy order under a “guaranteed delivery” basis.”

      Could you expand on the exact meaning of >> “guaranteed delivery” basis?

    91. Anonymous says:

      Keep voting for Patrick and fill out the comment fields why he should be on.

      http://guests.dailyshownews.com/akira/dtd/16867-2313

      Now they are checking to see if Patrick will be on tonight. I was told by my source it was definite but obviously he may have been mistaken. Sorry folks. I will keep everybody posted.

      * * * * *

      http://www.nowpublic.com/tech-biz/jim-cramers-nemesis-patrick-byrne-daily-show

    92. Redwood says:

      The official Daily Show website shows a different guest tonight, but sometimes Jon will bring someone out for a short interview during the middle segment of the show, so it’s still possible. I’d like to know where this original rumor started though.

    93. Traveller says:

      I would love to see him on the Daily Show. I think it is better for him to go on sooner rather than later. The general public is so fickle, we need him to speak up while we have their attention.

      I’ve been posting on different investing blogs about where to vote. Be sure to do the same.

      Those votes are really coming in now!!!

    94. Traveller says:

      Are we sure that this is the location to cast a vote for Patrick’s appearance on the Daily Show:

      http://guests.dailyshownews.com/akira/panel.do?id=2313

      It appears this is the location for it:

      http://forum.thedailyshow.com/tds/board?board.id=guest-suggestions

    95. Jim Hall says:

      Whatever happened to the FBI and Grandstander Cuomo’s investigation of manipulation of CDS, shorting, and collusion aimed at David Einhorn of Greenlight?

      Instead, Cuomo is waving his publicity-seeking arms for attention regarding Merrill bonuses.

      SEC?

      FBI?

    96. Anonymous says:

      Now Cuomo is going after Bonuses by AIG…..Gotta love those civil charges threats…

      http://www.iht.com/articles/2008/10/16/business/pay.php

    97. Jim Hall says:

      Gawd, CuomoTose is sooooo transparent.
      Might as well hang a sign on him:
      “Hedgefund contributions welcome!”.

    98. On the redesign suggestions: it is coming. The last month or so we have started getting serious about the technology behind DeepCapture.

      Maybe as early as this week.

    99. Anonymous says:

      Dr Byrne,
      Can you answer whether you will be on Daily show tonight ? We are rootin’ for ya !!!

    100. Frankenstein says:

      Dr. Byrne was on the Daily Show, but on a gag sketch. It was discussing naked shorting but in an unserious manner. He needs to be the sit down guest.

    101. iStandUp says:

      Oilwellian,

      Thank you for the link to the story:

      The Financial Terrorists of Wall Street – The Truth Behind a Curtain of Silence…

      by KathrynW, posted on Sun Mar 15, 2009 at 10:14:30 AM PDT

      On this page you will find a YouTube video inspired by a DeepCapture.com story about Force Protection, Inc.

      KathrynW, thank for creating this video. I would suggest that you add some text with arrows to show the declining price of the stock and the increase in the number of phantom share – their inverse relationship.

      Here is the closing paragraph of this story:

      “Do you still feel safe with your investments? Who is more of a threat to our way of life, Al Qaeda or these Hedge Fund managers, (with the consent of Congress, the SEC, and financial media outlets) who have financially raped thousands of corporations and their investors, pumped billions of phony shares into our markets, and stifled the very essence of entrepreneurship in America? It’s time for a serious change in how we do business and how we enforce our laws.”
      ( http://www.dailykos.com/story/2009/3/15/708467/-The-Financial-Terrorists-of-Wall-Street—The-Truth-Behind-a-Curtain-of-Silence )

      Here is the YouTube link to KathrynW’s video on Force Protection, Inc.:

      ( http://www.youtube.com/watch?v=t5put3e8MQo&eurl=http://www.dailykos.com/story/2009/3/15/708467/-The-Financial-Terrorists-of-Wall-Street—The-Truth-Behind-a-Curtain-of-Silenc&feature=player_embedded )

      I like KathrynW’s title for her story, and I’am thinking this morning that I should entitle my letter to Congress as:

      The Wall Street Counterfeit Machine – The Financial Terrorists of Wall Street…

    102. iStandUp says:

      WSJ Yesterday reported that…
      … MANY BIOTECHS WILL GO UNDER THIS YEAR:

      >> “WE’LL LOSE 100″ OF THE PUBLICLY TRADED BIOTECHS THIS YEAR” <>>Destroying Companies For Profit – Current Video

      ( http://current.com/items/89439340/destroying_companies_for_profit.htm )

      Here is another video explaining HOW The Wall Street Counterfeit Machine – The Financial Terrorists of Wall Street tried to destroy a company called “Force Protection, Inc”….

      ( http://www.youtube.com/watch?v=t5put3e8MQo&eurl=http://www.dailykos.com/story/2009/3/15/708467/-The-Financial-Terrorists-of-Wall-Street—The-Truth-Behind-a-Curtain-of-Silenc&feature=player_embedded )

    103. iStandUp says:

      Trying Again – Previous message truncated……

      WSJ Yesterday reported that…
      … MANY BIOTECHS WILL GO UNDER THIS YEAR:

      >> “WE’LL LOSE 100″ OF THE PUBLICLY TRADED BIOTECHS THIS YEAR” <>>Destroying Companies For Profit – Current Video

      ( http://current.com/items/89439340/destroying_companies_for_profit.htm )

      Here is another video explaining HOW The Wall Street Counterfeit Machine – The Financial Terrorists of Wall Street tried to destroy a company called “Force Protection, Inc”….

      ( http://www.youtube.com/watch?v=t5put3e8MQo&eurl=http://www.dailykos.com/story/2009/3/15/708467/-The-Financial-Terrorists-of-Wall-Street—The-Truth-Behind-a-Curtain-of-Silenc&feature=player_embedded )

    104. iStandUp says:

      Trying again… previous message truncated – trying without links…..
      ———————————————
      WSJ Yesterday reported that…
      … MANY BIOTECHS WILL GO UNDER THIS YEAR:

      >> “WE’LL LOSE 100″ OF THE PUBLICLY TRADED BIOTECHS THIS YEAR” <>>Destroying Companies For Profit – Current Video

    105. iStandUp says:

      Big pharmaceutical companies have spent billions of dollars to buy other drug giants lately, leaving behind small biotech companies that can no longer find investors.

      The biotech industry had thrived as a new-drug incubator for big pharma companies, which poured money into acquisitions and partnerships to build up their biotech-drug product line. Some of that is still happening, but most sources of investment funding have dried up in recent months.

      Since November, 10 biotechs have declared bankruptcy, says Ellen Dadisman, a spokeswoman for the Biotechnology Industry Organization. Meanwhile, 120 of the 360 publicly traded biotechs have less than six months of cash left, compared with just 12 companies in that position a year ago, according to Burrill & Co., a venture-capital concern in San Francisco that follows the industry.
      [biotech and financing]

      Last week, Altus Pharmaceuticals Inc., based outside Boston, said its auditors doubt it can make it through the year without additional cash. To save money, the company has canceled development work on a potential drug for cystic fibrosis.

      Isolagen Inc. has positive data on its experimental skin treatment and has filed for U.S. Food and Drug Administration approval. But the Exton, Pa., company says it has only three weeks of cash left before it will need to cease operations or file for bankruptcy protection.

      G. Steven Burrill, who heads Burrill & Co., says, “We’ll lose 100” of the publicly traded biotechs this year as companies fail or get taken over.

    106. iStandUp says:

      The essential reason so many biotechs will go under this year IS NOT BEING REPORTED by the Financial Press.

      The Essential Reason for so many bankruptcies is:

      The Wall Street Counterfeit Machine – The Financial Terrorists of Wall Street…

      The sad truth is that the biotechnology industry has been a favorite target for the Shorting Hedge Funds that use counterfeit shares (FTDs – Fail To Delivers) to drive down the price of biotech stocks with the goal of driving them into bankruptcy – to make more money. They simple sell stock shares they do not borrow nor own, never intend to deliver, and never deliver. This simple illegal activity, counterfeiting, is self-fulfilling.

      These Counterfeiting Hedge Funds as Guests of Market Makers use the “Madoff Exemption” to manipulate the stocks of biotechs anytime they want to.

      Here is a video that explains HOW…

      The Wall Street Counterfeit Machine – The Financial Terrorists of Wall Street…

      DESTROY COMPANIES and DESTROY OUR INVESTMENTS in such companies, as biotech companies:

      >>>Destroying Companies For Profit – Current Video

      ( http://current.com/items/89439340/destroying_companies_for_profit.htm )

      Here is another video explaining HOW The Wall Street Counterfeit Machine – The Financial Terrorists of Wall Street tried to destroy a company called “Force Protection, Inc”….

      ( http://www.youtube.com/watch?v=t5put3e8MQo&eurl=http://www.dailykos.com/story/2009/3/15/708467/-The-Financial-Terrorists-of-Wall-Street—The-Truth-Behind-a-Curtain-of-Silenc&feature=player_embedded )

    107. Curious says:

      The video clip that Jon used so effectively during the interview has been effectively scrubbed from the internet.

      Unsurprising, but still rather sad…

    108. Curious,

      It may have been scrubbed elsewhere, but it is still available on this DeepCapture essay from March, 2008. https://www.deepcapture.com/jim-cramer-is-a-complicated-man/

      Somehow, I don’t think I’ll be hearing from any of Jim Cramer’s lawyers about it.

      Patrick

    109. Settor83 says:

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    Trackbacks/Pingbacks

    1. […] Patrick Byrne, Overstock CEO writes on Deep Capture . […]

    2. […] latest from Dr. Byrne at DeepCapture is a good place to start: What should we learn from the fact that “The Daily Show’s” Jon Stewart has in four evenings […]

    3. […] Deep Capture: Perhaps someday, a journalist will look into the pressures that were brought on news organizations […]

    4. […] via What We Should Learn from Jim Cramer vs. the Daily Show’s Jon Stewart | Deep Capture. […]

    5. […] without me. Something occurred there, apparently unscripted, which reminds me of the aftermath of Jim Cramer’s appearance on Jon Stewart’s The Daily Show. In any earlier age Cramer’s exposure there would have meant his disappearance from public […]


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