Warning: the following video clip is not safe for work.
Not because the content itself contains inappropriate language, but because of the language it will very likely evoke upon watching it.
This is the final three minutes of today’s Bloomberg-TV hosted debate between former SEC Commissioner Roel Campos and infamous short seller Manuel Asensio.
What this represents, more than anything, is confirmation of the long-suspected belief that naked short sellers inhabit an alternate moral universe, complete with an alternate version of reality.
There might be no other explanation for what transpires in this debate, which includes such gems as the following by Asensio:
“There should be no reason to borrow stock. One should be able to sell stock at will, regardless of whether the people that are manipulating the stock up are willing to lend it to short sellers…There is absolutely no economic reason why America should cause and force short sellers to borrow stock.”
You’ve been warned…
(you can view the full debate here)
As a post-script, it’s worth pointing out that, by way of ascribing motives to otherwise incomprehensible actions, Gary Weiss spent much of his career at Business Week fawning over and taking orders from Asensio. Here are some examples.
Arsenio sounds like a sociopath.. and no wonder Weiss loves him so much. Birds of a feather.
What doesn’t make sense is Bloomberg giving this guy any exposure. And the moderator should be canned. She’s an idiot.
“BLAH BLAH BLAH, I COMMIT FRAUD!”
That’s all I got from Asensio in that bit.
asensio’s point is ridiculous and absurd when one thinks about market structure and what markets are set up to do, which is to test the limits of what is possible. under his great idea, it would be “possible” for someone to short more shares than than the outstanding float on a company. If it “can” happen, its only a matter of when, not if. Let’s think about what the LEH short CDS position ended up doing.
Why isn’t Charles Manson appearing on this show…he has about the same moral character as the naked short sellers…..
These pages link Asensio and his colleagues to Kingsford Capital Management.
http://asensioexposed.com/wexler.htm
http://asensioexposed.com/aciclients.htm
Oh, what a tangled web that’s been woven!
And if you go to his website, there are several quotes appear across the top. Among others, there are a few names that readers of Deep Capture will recognize, each of which extolling the virtues of what a great genius Asensio is…..
1) James J. Cramer
2) Bethany McLean (2x)
3) Gary Weiss
4) Whitney Tilson (3x)
5) Wikipedia (I wonder who authored his entry and whether or not it can be modified….)
Excellent. Weiss called Asensio, “The Mad Cuban.”
Asensio also provided information to Charles Gasparino. I should know. Gasparino and I had coffee and discussed Asensio.
in 2000 Gasparino did not know that the Securities Exchange Act of 1934 stated that on the NYSE you could not sell stock short on a minus tick unless you owned the stock.
Ed Manfredonia
I have one question for Mr. Asensio:
If you don’t believe that you should be required to borrow shares that you want to sell, then what exactly are you selling to the people who are giving you money?!?!?
When this finally blows up (and it WILL) I want to see who starts spilling their guts first. My money is on Herbie G but Gary W is looking a close third to Herb and Jimmy C(ramer) right about now!!!
Ass-ensio is a senseless sociopath who needs some nice jailtime to straighten out his thinking cap.
When is the SEC going to a.) retroactively collect all outstanding FTD’s, b.)punish these creeps, and c.) act in the interest of the American investor?,
Thank the cretin. He did things for us today we couldn’t even do for ourselves.
It made me ill, I have to admit.
I believe that Bloomberg did us a great favor. That video just made Asencio the poster child for what is sick with our security industry. What he blurted out should become our rallying point to use against them. By their own words they condemn themselves. Thanks ever so much.
With the hundreds and hundreds of ties between naked short sellers and the mafia identified just on this website (including this guy) should this “I’m above the law” attitude really shock anyone? Where’s the DOJ?
I believe it would be great to adopt the same moral character displayed here by asencio……. Quite a defense,,,,, “Your honor, there is no reason I should be held accountable for any crime, I was merely ridding the world of a sociopath.”
Asenio laid bare the self-justification of those who engage in naked short selling. There’s no longer reason to ask what these people telling themselves. Based on his wicked sense of entitlement, he and his compatriots have decided they are going to do whatever they want to do regardless of what law dictates. That behavior would be defined as sociopathic. The more these guys talk, the more they reveal their true criminal nature and extreme mental illness.
And so now the SEC wants ‘industry’ input before instituting any shortselling restrictions…
Alice in Wonderland had a more logical world.
Wait, tomorrow Chanos will probably be on CNBC discussing Asenscio’s reasoned approach….