Here’s the Naked Truth About Overstock.com
Gandhi said, “First they ignore you, then they laugh at you, then they fight you. Then you win.” Holman Jenkins Jr.’s April 12 Business World column “Do Nudists Run Wall Street?” moves us to stage No. 3: It contains the normal amount of distortion I have come to expect from financial media, but as it also makes the first attempt to confront the right issue, it is a step forward. Bravo.
Mr. Jenkins claims that I “propound a theory” that Overstock’s “shares are grossly undervalued.” This is wrong: I have never lamented Overstock’s valuation nor connected it to the naked shorting issue. The “elaborate Webcasts . . . found at businessjive.com” cited by Mr. Jenkins never once mention Overstock. He provides no other citations, which is appropriate, as there are none. Last, the quote he attributes to me, “If I’m crazy, why am I running a public company?” is something I never said. I challenge Mr. Jenkins to produce this or any similar quote.
However, Mr. Jenkins correctly depicts me as a jihadi against naked shorting. I do believe blackguards have practiced “failure to deliver” (FTD) for profit, while incidentally destroying businesses and (probably) destabilizing our capital markets. I also think that if this nation ever grasps how its savings have been looted through this mechanism, a few million Americans are going to show up at the corner of Wall and Broad with pitchforks and nooses. Thus, financial journalists spin countless, “Just another CEO who’s mad at shorting” stories, of which Mr. Jenkins’s piece is an example.
Patrick M. Byrne
Salt Lake City
Maybe it would just be simpler to ban shorting altogether, since, obviously, some folks just don’t get the distinction.
Shortfund mafiosos Loeb/Einhorn need some concrete boots:
I went to NY and spread the world and taught them about the DTC and Naked short selling,, Now they know, they are smart young people, there are a bunch of nuts but other then that these kids are bringing older people out who want to help out who lost everything and yesterday there were 100’s of people like me going up and joining and asking questions and they had smart very smart people answering them. I spoke with 2 and they got it FAST They know abut Deepcapture and were watching the Naked short clips to bring them up to speed fast. I dont think they give up lets hope not plenty of press and PLENTY of Police surround them
I am trying to get this survey distributed and a running tally of what the PEOPLE know about theses crimes against their property.If you find it useful or educational please feel free to run with it. Wish I could go to NY myself. I am trying to do all I can from here.This web site has the posted report under the general discussion post end this now.link is marked test2 by bunnyb. Somehow I can’t get it to post here.
OOPS, that was dear not bear.
Typing too fast and not checking my submissions. it is under the post titled settle this now. Now back to E-mailing all regulators,law enforcement,politicians and political candidates. Oh and Wall Street protesters.
Well, this is interesting. This article mentions “Vindication should now also emerge for the hardworking staff over at Deep Capture.”
While many understand the complexities involved in the fraud taking place at clearing brokerages, many more do not. And those who do not are clueless about the impact on their lives. One poster here provided a link to “Occupy Wall Street”. A visit to their website reveals that they are, to a large extent, ignorant to the workings of financial fraud. That ignorance carries many dangers because it can bring about destructive rather than constructive change if the objectives are undefined.
That is why it is more important to attack a basic fraud that most will understand. When that is done it will go a long way towards eliminating the issues of naked short selling, which probably 99% of the population, if polled, would have no idea as to what it is.
What is being referred to, of course, is the elimination of the Federal Reserve Act as an attachment to the Federal Government’s operations. Combine that with a return to the Glass-Steagall Act and risk will be put back where it belongs, instead of the concept of “too big to fail”, allowing politicians to spend recklessly, and big-time financial criminals can act with impunity. No one has countered this argument with disagreements as to why it would not work. But many believe that if those issues are not addressed it will be business as usual on Wall Street. The tide will go out, but then as surely as the sun rises it is destined to soon return, which is a metaphor for the temporary fixes that will arise with stronger (un-captured) regulation and enforcement activities (also un-captured) that await a new breed of crooks to turn back the clock as the prior crowd hopefully rots in jail.
Perhaps a two-pronged approach, the first being the thrust of this website, and an additional one of ridding the country of the Federal Reserve Act could be added. Or is that considered to be un-manageable? The second approach would include a return to honest money, as defined by the Founders, but recognizing the advances imposed by the advent of inexpensive computers and the Internet.
Just remember that the activities of the Federal Reserve, in their money creating activities, currently have a striking similarity to the Ponzi-like schemes of the naked short sellers. One prints debt masquerading as money, and the other forwards phantom stock in its trading activities, and both are counterfeit. However, the activities of the Federal Reserve are far more widespread and a gateway to financial market fraud.
Monday, September 26, 2011 12:50 PM EDT http://newyork.ibtimes.com/articles/220033/20110926/occupy-wall-street-protest-arrest-video-police.htm
Occupy Wall Street Protests May Intensify Following 80 Arrests [VIDEOS]
As “Occupy Wall Street” entered its second week of protest marches, around 80 protesters were arrested on Saturday.
The arrests were made as the propesters marched from their encampment in Zuccotti Park to Union Square, for disorderly conduct and obstructing vehicular and pedestrian traffic in addition to one for assaulting a police officer, according to police.
While the number of protesters seemed to shrink from the initial 2,000 when “Occupy Wall Street” kicked off on Sept. 17, the protests intensified over the weekend, took a “day of rest” on Sunday, and is ready for the new week.
“Sunday has been decreed, once again, a day of rest. We didn’t march. We have made a new world, a new city within the city. We are working on a new sky for where the towers are now,” reads an update posted on occupywallst.org on Monday.
“Throughout the day our sisters and brothers arrested yesterday came back home to Liberty Plaza. They greeted the new faces that have joined us here. They shared their stories of imprisonment, of medical care denied and delayed. We welcomed them and listened.”
The “Occupy Wall Street” protesters claim to represent “The 99% that will no longer tolerate the greed and corruption of the 1%,” calling for changes in American social and economic policies.
The organizers of the resistance campaign continued to post video footages of violent treatment by the New York Police Department officers, including one showing police officers trapping protestors in an orange net and using pepper spray. The hacker collective released three video clips on their website, emphasizing the violence inflicted by NYPD.
In a New York Times article, a police spokesman accused the protesters for manipulating and editing the video footages. A video showing a policeman using pepper spray on a number of female protesters was specifically mentioned by one of the officers interviewed. “Pepper spray was used once… after individuals confronted officers and tried to prevent them from deploying a mesh barrier – something that was edited out or otherwise not captured in the video,” commented the Police Department’s chief spokesman, Paul J. Browne.
The women shown on the video, identified as Chelsea Elliott, alleged that she had not attempted to “prevent” the officer deploying the mesh barricade and had simply attempted to start a conversation with one of the officers on scene.
“I’m just trying to converse with them in a civilized manner, and tell them I’m a civilized human being,” commented Elliot to the New York Times. “A cop in a white shirt – I think he’s a superior officer – just comes along and does these quick little spritzes of pepper spray in my and these three other girls’ eyes,” she added. The officer’s identity was not provided by the police.
The police presence at the protests was strengthened over the course of the protest, and the protest’s organizers have expressed their demand on their website “that Mayor Bloomberg address our General Assembly and apologize for what has occurred.”
The Federal Reserve wants to spy on YOU!
Jimbo, the fundamental problem isn’t just shorting. It’s at the level of the clearing brokerages who are allowed to fractionally reserve the shares that they are supposed to hold in trust for you. They do create these fantasy objects like obligations, swaps and repurchase agreements as fairy tails to explain why the shares aren’t there, then borrow against the shares that are there, as if they are their personal piggy bank.
The VERB “shorted” is the tip of the iceberg. The NOUN of “fractionally-backed-security” is the quick sand that this whole ponzi scheme is built on.
I finally understood how deep the rabbit hole goes, when I realized that they US government debt is only fractionally backed. You may tell Goldman Sachs that you want to keep your money in something safe, so they tell you they will buy you super low interest treasury securities. Instead, those securities never get delivered and you have effectively made a high risk low interest loan to Goldman Sachs without ever agreeing to it. And to add insult to injury, the auction is effectively fixed, so the taxpayers pay more interest than they needed to.
We have a criminal class that has stolen the levers of power through outright fraud, then used the proceeds of the fraud to redefine the rules of how the banking and brokerage system should work.
They understood it in the 1800’s. The tin man was manufacturing, the scarecrow was the farmer and the cowardly lion was the president and Oz was gold. It turned out that the bankster criminal behind the curtain had nothing, but illusion to back up his control over how the economy worked.
Joe sixpack has his own limited vernacular.
I use it for that reason.
I agree wholeheartedly with your exposition on the issue.
I figured you “got it” as one of the long time followers of this site. My concern is that they ban “naked shorting” and nothing changes, because the brokerages still desk to take the other side of your trade “for liquidity” and the market makers continue to fill your accounts with “IOU’s” as the clearing houses pledge your asset as security to fund their operations.
I think Joe Sixpack can get the concept of trusting their brokerage to hold their asset unencumbered and the darn asset isn’t even there and I think that concept will make him madder than some exotic trading strategy. When he finally realizes that his brokerage statement is a lie, that’s when he’s going to go ballistic.
They need to ban phantom shares, not just naked shorting. If a share doesn’t deliver, it should show up as a red blinking line in a big font with exclamation marks in your online statement. It’s a big deal for someone to make you pay for something you never received.
In reality, with all the computer power available today, why don’t I get a PDF of a share, or block of shares, as certification?
If they can trade in nanoseconds and zip in and out as quickly as they do, why can’t they send me a confirmation? Not just a confirmation of the trade either.
Why isn’t this the norm, versus the ‘confirmation’ we get today.
“It turned out that the bankster criminal behind the curtain had nothing, but illusion to back up his control over how the economy worked.”
I’d say they have considerably more than illusion now, since they took all or most of the $13 trillion looted from U. S. financial markets in 2008. And they had quite a headstart in capital pools before that.
Wear all your labels proudly.
I do. I am in my own little
World. It is okay. They
Know me here.
The drama kings and queens are to busy. Busy. Busy…
The tater is hot.
Wallstreet occupation site:
Bring your pitchforks and torches…
Deloitte Sued for $7.6B in Taylor Bean Collapse
By Sophia Pearson – Sep 26, 2011 Deloitte & Touche LLP, one of the so-called Big Four accounting firms, was sued for failing to detect a fraud that allegedly led to more than $7 billion in losses at defunct mortgage lender Taylor, Bean & Whitaker Mortgage Corp.
Deloitte, which audited Taylor Bean’s financial statements from 2002 to August 2009, ignored red flags in the company’s books, allowing the lender’s former chairman, Lee Farkas, to orchestrate a fraud that toppled the company, according to the complaints filed today in state court in Miami. Taylor Bean’s bankruptcy trustee, Neil Luria, and its Ocala Funding unit are seeking more than $7.6 billion in damages.
“Deloitte’s negligence, and willful blind eye, was the fuel without which the looters’ fraud would have sputtered out long before it resulted in the multibillion-dollar debt under which TBW collapsed,” according to Luria’s complaint.
The claims are “utterly without merit,” Jonathan Gandal, a spokesman for New York-based Deloitte, said in an e-mail. Taylor Bean and Ocala were wholly owned private companies through which “convicted felon Lee Farkas and his co- conspirators committed their crimes,” Gandal said.
“The bizarre notion that his engines of theft are entitled to complain of injury from their own crimes and to sue the outside auditors they lied to defies common sense, not to mention the law,” Gandal said in the e-mail.
Taylor Bean, once the 12th-largest U.S. mortgage lender, collapsed in 2009 after federal regulators began probing a fraud that involved fake mortgage assets, targeted the federal bank bailout program and contributed to the failure of Montgomery, Alabama-based Colonial Bank.
Farkas was sentenced in June to 30 years in prison for his role in the fraud that duped some of the largest U.S. financial institutions. Six conspirators, including former Chief Executive Paul Allen, pleaded guilty and were sentenced to prison terms ranging from three months to eight years.
Deloitte failed to understand the lender’s business, particularly its financing through Ocala, the trustee and Ocala said in their lawsuits.
Taylor Bean relied on a variety of credit lines and financing to process about $30 billion in mortgages a year, the plaintiffs said. The lender initially relied on banking partner Colonial Bank and later its subsidiary Ocala, according to court papers.
To fund the fraud, Farkas and others caused Taylor Bean to sell Colonial millions of dollars in phantom mortgages. The company sold the same mortgage two or three times to Colonial, Ocala and the Federal Home Loan Mortgage Corp., according to court papers.
Deloitte certified Taylor Bean’s books for seven years, Steven W. Thomas, an attorney for Ocala and Luria said today in a phone interview. The auditor can’t simply chalk up its conduct to ignorance, Thomas said.
“If they do then they’re admitting at least negligence because part of their job was to understand the business,” Thomas said.
Ocala issued asset-backed notes based on Deloitte’s clean audited financial statements from 2005 through July 20, 2009.
The unit, which wasn’t a part of Taylor Bean’s bankruptcy, has about $1.75 billion in outstanding notes, according to court papers. About $1.6 billion in notes were sold to BNP Paribas Mortgage Corp. and Deutsche Bank AG. A bankruptcy judge allowed the unit to pursue a $1.6 billion claim against Taylor Bean, according to court papers.
Deloitte allegedly missed glaring red flags in its audits, including Taylor Bean’s recording of transactions in a mortgage loan participation facility at Colonial as sales rather than loans, thereby inflating its accounts receivables, according to court papers. The accounting firm also certified one audit even after questions arose minutes before it signed off, Ocala said in its complaint.
In an e-mail sent during a 2008 audit, a Deloitte partner questioned the treatment of $6 billion in gross debits and credits, Ocala said. When questioned, Taylor Bean officials claimed it had something to do with “off balance sheet” facilities, Ocala alleged. With minutes to go until a midnight deadline, Deloitte certified the consolidated financial statements even as questions remained as to how the $6 billion should be treated, the funding company said.
“Deloitte missed this fraud because it simply accepted management’s conflicting, incomplete and often last-minute explanations of highly questionable transactions, even though those explanations made no sense,” according to the Ocala complaint.
Deloitte quit in 2009 after company officials refused to provide explanations during its audit, both complaints claim. Federal authorities raided Taylor Bean’s headquarters on Aug. 4 of that year and the company suspended operations the next day, firing about 2,000 employees.
Lawmakers and regulators are calling for increased scrutiny of the role of Wall Street’s auditors in the 2008 financial crisis. The Public Company Accounting Oversight Board, a nonprofit watchdog for auditors of U.S.-listed firms, said last month it’s considering whether to force public companies to routinely replace the firms that audit their financial disclosures.
The board’s announcement follows a Senate Banking subcommittee hearing in April on the role of the accounting firms in the financial crisis and controls that may be needed for the industry.
The four largest accounting firms are Ernst & Young LLP, PricewaterhouseCoopers LLP, KPMG LLP and Deloitte & Touche.
The cases are Luria, Plan Trustee of the Taylor, Bean & Whitaker Trust v. Deloitte & Touche LLP; Ocala Funding LLC, v. Deloitte & Touche LLP, Circuit Court of the 11th Judicial Circuit, Miami-Dade County, Florida.
To contact the reporter on this story: Sophia Pearson in Wilmington at [email protected].
To contact the editor responsible for this story: Michael Hytha at [email protected]loomberg.net.
You may not like what he has to say, but he is telling the TRUTH!!!
The emperor is about to be “EXPOSED”
It is about a new private global currency and we need to educate the heroes occupying Wall Street about how the criminal class gets away with counterfeiting shares.
Judge Sides With Goldman Sachs In Pay Suits
By Eric Hornbeck
Law360, New York (September 26, 2011, 8:26 PM ET) — A New York state judge ruled Monday that allegations that Goldman Sachs Group Inc. management hurt the company by paying out too much of its revenues as employee compensation were too weak to justify reimbursing the shareholders’ attorneys.
Although shareholders alleged that Goldman Sachs had essentially admitted the allegations when its board decided to change the compensation policy, Judge Bernard Fried said their attorneys couldn’t collect attorneys’ fees because the complaint was too vague to begin with.
“Although plaintiffs have clearly set forth the reasons for…
Pitch forks and nooses? How about driving combine harvesters down Wall and Broad during trading hours then positioning them header first in front of the building exits?
Not sure how accurate this is, but if it is its a good start.
SEC Proposes Cutting Threshold for Trading Halts
By Nina Mehta – Sep 27, 2011 11:36 AM ET The Securities and Exchange Commission began an overhaul of rules adopted after the Crash of 1987 designed to shut down the stock market during periods of volatility, proposing that curbs be triggered when the Standard & Poor’s 500 Index falls 7 percent.
The changes would switch the index used for the circuit breakers to the S&P 500 from the Dow Jones Industrial Average, according to proposals submitted by U.S. equities exchanges and the Financial Industry Regulatory Authority. The duration of the halts, which also pause trading in stock futures, would be shortened, according to a summary of the proposals from the SEC.
S&P 500 declines of 7 percent, 13 percent and 20 percent from the prior day’s close would set off halts across all markets, narrowing the current thresholds of 10 percent, 20 percent and 30 percent, according to the SEC.
“This new marketwide circuit breaker together with other post-Flash Crash measures is designed to reduce extraordinary volatility in our markets,” SEC Chairman Mary Schapiro said in the statement.
The agency will review comments on how the suggested changes to the marketwide curbs will work with another proposal by the exchanges and Finra to alter circuit breakers for individual securities instituted after the May 6, 2010, plunge that briefly erased $862 billion in equity value, she said.
Comments may be submitted to the SEC for 21 days once the rule proposals are published in the Federal Register. The SEC must approve the rules for them to go into effect.
To contact the reporter on this story: Nina Mehta in New York at [email protected].
To contact the editor responsible for this story: Nick Baker at [email protected].
Tue Sep 27, 2011 12:57pm EDT
* Major Iranian bank bosses lose their posts -ministry
* $2.6 bln financial fraud has shaken Ahmadinejad government
* Economy Minister faces impeachment threat by lawmakers
By Robin Pomeroy
TEHRAN, Sept 27 (Reuters) – A $2.6 billion financial fraud that has shaken the government of Iranian President Mahmoud Ahmadinejad saw the heads of three of the country’s banks ousted on Tuesday as lawmakers threaten to impeach the economy minister.
The biggest fraud in the 32-year history of the Islamic Republic could result in the death penalty for anyone found guilty of it and has become part of an increasingly ugly split in the conservative elite that runs Iran.
Ahmadinejad has rejected claims from his hardline rivals that the investment company at the centre of the scandal has links to his key aide, Esfandiar Rahim Mashaie, the focus of fierce criticism by conservative politicians and clerics.
But that has not satisfied members of parliament who have already threatened to impeach the president over other issues and critics who accuse him of being in the thrall of a “deviant current” of advisors seeking to undermine the authority of Supreme Leader Ayatollah Ali Khamenei.
With the government seeking to assert its authority in the case, an ad hoc governmental committee has instructed the Central Bank of Iran to remove the head of the bank at the centre of the allegations, Bank Saderat, and of the smaller Bank Saman, the Economy Ministry said on its website.
The chief of state-owned Bank Melli, Iran’s biggest bank, handed his resignation to the Economy Ministry, the website said.
A spokesman for Bank Saderat — a large, partly privatised company — denied reports that the bank’s chief had lost his post, while Bank Melli and Bank Saman were not immediately available for comment.
At least 19 people have been arrested so far for the alleged scam which the judiciary said involved the fraudulent opening of bank letters of credit by the Amir Mansour Aria investment group.
Hardline conservative newspaper Kayhan has said the mastermind behind the fraud had links with Ahmadinejad’s closest aide.
Mashaie, once talked about as a possible successor to Ahmadinejad whose time in office ends in 2013, has been accused of heading the “deviant current” which the president’s foes say intends to dilute Iran’s Islamic character and undermine the role of the clergy.
The financial scandal has erupted in the run-up to parliamentary elections in March and is set to become a central issue.
With Iran’s reformists sidelined after the government crushed huge demonstrations following Ahmadinejad’s disputed re-election in 2009, the March vote will largely be fought between rival conservative factions.
Prosecutor General Gholamhossein Mohseni-Ejei has said culprits of the fraud may be executed.
“The perpetrator of the recent embezzlement will be hanged if proven beyond doubt to be ‘corrupt on Earth’,” he said, referring to a crime that carries the death penalty under Iran’s version of Sharia law.
Upping the pressure on Ahmadinejad, twenty members of Iran’s parliament have signed a petition to impeach Economy Minister Shamseddin Hosseini over the affair.
“People who have given 200,000 martyrs for this establishment do not expect to witness from it such a grand violation of its banking system that has aroused a public distrust of the system,” lawmaker Aziz Akbarian told the semi-official Fars news agency. (Additional reporting by Hossein Jaseb; Editing by Alexander Smith and Hans-Juergen Peters)
Any debt-based economy, whether the Fed, the ECB, the IMF, etc. is a pyramid scheme. It works only if ever-widening populations of new borrowers can be found to take out loans for homes, school, medical care, cars. etc. to allow creation of new money which circulates through commerce until it is used to pay the interest on the old money. But, and here is the trap, total aggregate debt always outstrips the total aggregate money in circulation. When new borrowers cannot be found, the system, starts to come apart. At that point, Keynesian economics says that the government has to step in and borrow on behalf of the citizens who have stopped borrowing, to keep plunging them deeper into debt to the bankers.
That is what “growth” means in a debt-based economy; an increase in the size of the total; aggregate debt. The word “growth” is used because ti the unenlightened, “growth” sounds like a good thing. But it isn’t. IN the world of debt-based currencies, growth means sinking deeper into unpayable debt, and eventual debt-slavery to the bankers.
There is nothing that the bankers and governments can do with this system that does not increase the debt faster than it increases the money supply.
In this way the basic freedom of the people to refuse to involve the bankers in their lives is removed from them. A life spent in servitude working to pay interest is now mandatory, either directly through credit or indirectly through taxation on the national debt.
$100 m lawsuit against short bashers.
Remember when Curshen’s parents posted in the comments here that he was innocent? I guess not.
Jenkins never once mention Overstock. Jenkins to produce this or any similar quote. Jenkins correctly depicts me as a jihadi against naked shorting.If you find it useful or educational please feel free to run with it. I am trying to do all I can from here.This web site has the posted report under the general discussion post end this now. it is under the post titled settle this now. And those who do not are clueless about the impact on their lives. That ignorance carries many dangers because it can bring about destructive rather than constructive change if the objectives are undefined. No one has countered this argument with disagreements as to why it would not work. But many believe that if those issues are not addressed it will be business as usual on Wall Street. They greeted the new faces that have joined us here. A video showing a policeman using pepper spray on a number of female protesters was specifically mentioned by one of the officers interviewed. equities exchanges and the Financial Industry Regulatory Authority. The SEC must approve the rules for them to go into effect. to allow creation of new money which circulates through commerce until it is used to pay the interest on the old money.
And I thought I was trying to type too fast without checking MY submissions!
9/11 puts versus the airlines. Info Missing!
Here is an astonishing interview with Professor of Economics and Law William Black,in which he explains / exposes the fact that the FEDs (Greenspan & Bernanke) have REFUSED to use their regulatory power to stop liar loans (mortgage loans) since 1994:
William Black: Why Nobody Went to Jail During the Credit Crisis…
The FBI is no longer chasing white collar criminals
Although this is off topic, I think it illustrates the issue with the DTCC (part of the Federal Reserve Banking system) refusing to stop Naked Shorting.
No prosecution because the mafia has won.
This revelation by Professor of Economics and Law William Black that the Federal Reserve Bank of the United States has allowed LIAR LOANS and continues to allow LIAR LOANS demonstrates to me that “Fraud” is the normal accepted practice / principle in the Federal Reserve Banking system.
Additionally, the fact that the DTCC is part of the Federal Reserve Bank system explains WHY the Fraud of “Naked Shorting” is a normal accepted practice / principle in the DTCC.
And it is now clear to me that the Federal Reserve Banking system is “Out of Control,” and that we, the citizens of the United States, need to demand that our elected officials Stop pretending there is no problem in the FED system. We need an audit of the Federal Reserve Banking system to uncover both the accepted banking system fraud, and the stock market fraud accepted by the DTCC called Naked Shorting.
I suggest everyone send this information to their elected officials in DC with a demand for an audit of the Federal Reserve Banking system.
Another irish cabal member ponzi guy:
SEC Delay, NOT SURPRISING!
Capitalism is the best system, especially if it is tempered by a government that harnesses the entrepreneur and allows her or him to be rich, but with rules that benefit society.
Whether it is Bill Gates, Henry Ford or Steve Jobs or even Patrick, their entrepreneurship has made my life better.
What I have a problem with is a criminal class that contributes nothing, but like a pimp, sucks the rest of us dry like a mosquito or cancer because rather than produce something, they just suck the life blood of their fellow humans, then use the proceeds to buy off the politicians and replace paper ballots with corrupt voting machines and a paid off media to create fascism posing as democracy.
Does anyone think the FDA, SEC, EPA, FBI, etc. aren’t bought off?
We really need to rethink the view of the country. Since Kennedy’s assassination, a cancerous criminal class has grown so big that it is about to choke off the host.
It’s time for radical change and privately owned institutions like the Federal Reserve and the DTCC and corrupt foundations that pay no taxes, but control our educational system need to be cut out of society.
There are certain inflection points and as a big supporter of #OccupyWallstreet, I think paradigm shifting change can happen if we want it to. They say there are 100 of us to every one scum bag.
I think there are 100 million of us to every one scum bag. Every reporter / cop / politician / employee of the scum bag should think about that when they wake up tomorrow morning.
The scum bags are shriveled old men and just like the wizard of Oz have no power once the people realize they have no power. Bernie Madoff and Rupert Murdoch are early examples, but as 911 and other criminal class crimes become exposed, these little old men are going to be purged from our society like the parasites they are.
Change can come slowly, but as the snowflakes of discontent pile up, one day, there is a sudden avalanche of change that surprises everyone.
That change is coming and could happen before the end of the year.
This is the time for everyone reading this to pull out the stops for the next sixty days to help bring about the paradigm shifting change.
If you are a scumbag, you may want to get out of the way before the paradigm shift and before the pitchforks and torches find you.
Further to the last post, I am in the 1% dollar wise, but I am in support of the 99%. Many of the readers and posters here are, too, including Patrick, obviously.
You’d be surprised how many 1%’ers love their fellow humans and support the 99% and work to make the lives of the 99% planet wide better.
This is not a class war. It’s a war against fascism, which is when criminals take over the levers of power.
The real problem is the criminal class. As long as it is pitched as rich versus poor, the movement will be stalled.
The pitch should be arrest the criminals and if their actions are treasonous, then take them to trial on treason, which I understand is punishable by death.
There’s a network of scumbags that think they are above any one country and above the law, but there are billions of us ordinary folk that think otherwise.
And that criminal clss is now indistinguishable, sadly, from the so-called governing class.
Does that mean an overthrow is required?
And that is how they get dissenters every time! Certain words can be interpreted as ‘inciting or encouraging sedition’.
In just a short while watching these blogs,it is apparent that there are already moves afoot to “assess” sentiment
with regard to the Fed,prepare lists of Gold movements etc.
Even talk of confiscations.
In the UK. there is virtually nothing like the American blog
content on this and other sites.
Following Mark Mitchell’s story, there seems to be several opportunities to address treason charges against some. If they could ever get any of the top miscreants convicted of treason and execute them, I would be willing to bet that market criminality would immediately drop by a minimum of 50% and Joe Public would immediately be seeing a turn around in their (401)k’s, etc.
With the potential for almost unimaginable wealth (how many hudege fund managers are on the Forbes top 50 richest, etc.), and penalties recently seeming to be “settlement reached – no one admits guilt – shareholders will pay fines miniscule in relation to the loot received”, you’d be crazy NOT to continue your criminal enterprise, and in fact recommend it to your friends and in-laws. It will GROW, not shrink, if heads don’t start rolling.
And, the crimes they are committing warrant these extremes. Yeah, they didn’t hold a gun to anyone’s head and pull the trigger (well, actually I believe Mark reported they did in a couple of cases, LOL), but the level of destruction resulting from their treasonous attacks surely warrant harsher prosecution, or you can bet your azz nothing’s going to get better… only worse. JMHO
I’m just not surprised anymore:
Does this mean that they (The SEC) will be going after more fishes and letting the Whales get away again? We’ll see.
Of course, it does. The SEC is simply alibi-ing, as always, that it is simply too hard to prove criminal fraud. So maybe – maybe, they might be able to bring a civil case or two which would be settled for a few bucks. But bring an actual prosecution and put the big players away? Not a chance in a million. The SEC was created to prevent that from happening, and is doing its job.
The SEC knows what happened to Ahab…
As Prisoner Exchange Begins, LA County Officials Predict Doom
October 1, 2011 7:48 AM
Reporting Dave Bryan
LOS ANGELES (CBS) — Los Angeles County Sheriff Lee Baca told us in an exclusive interview late Friday that he plans to launch his own personal investigation amid an increased controversy about the use-of-force by sheriff’s deputies in the jails.
And with a prospect of thousands of convicted felons being diverted to the Los Angeles County jail system rather than state prisons, Baca plans to talk directly with county jail inmates about the alleged beatings beginning Saturday morning.
“I want to hear what the inmates have to say for themselves,” he said.
Baca’s urgent action highlights not only use-of-force issue, but the magnitude of the problem facing law enforcement in LA County.
District Attorney Steve Cooley says with thousands of new, convicted felons coming into the jail system and 8,000 or more nonviolent felons being released early on parole; it’s a prescription for disaster.
“I’m also predicting in connection with that population, we’re going to experience the greatest spike in crime of the last several decades,” Cooley said.
Only Deputy Chief Probation Officer Reaver Bingham, whose department will have to keep track of the thousands of new parolees, is hopeful that with increased funding and smaller caseloads, things might not turn out as bad as predicted.
“If we do supervision correctly, we have seen the positive outcomes that we are projecting,” Bingham said.
On Saturday, the first group of 45 nonviolent felony inmates already serving time will gain early release and will be allowed to head home to LA.
They’ll be the first of nearly 9,000 inmates who will also be released over the next nine months.
» Transfer Of Non-Violent Inmates From CA Prisons To County Jails Set To Begin
» LA District Attorney Warns Of A ‘Public Safety Nightmare’ Over Inmate Transfers
» LAT: Baca Wants Sheriff’s Dept, Not Probation Officers, To Handle Parolees
You’re a better man than I am, Gunga Din
Sean: I know this is repetitive, and I apologize for being persistent.
From: Marv Eatinger
To: wsj.ltrs ; dubcongress ; fraud ; schapirom ; hawkeD
Sent: Fri, Sep 30, 2011 5:59 pm
Subject: Fwd: DALECO RESOURCES CORP – OTCBB SYMBOL “DLOV” – WHITE COLLAR CORPORATE CRIME!
Wall Street Journal:
After a number of communications with the Wall Street Journal in the form of Certified Letters with return receipt ( four of which were “traced” and found that there was “NO” record of being received because for some reason when the Certified Letter (package) was obtained from the New York post office by a Wall Street Journal representative, that representative “supposedly” failed to “INITIAL” the post office ledger for receival of this Certified Letter (package). Certified Letters as follows: P 078-617-177 delivered 9/12/96, Z 105-079-191 delivered 8/28/??, Z 112-182-109 delivered 2/6/98 and Z 290-204-646 delivered 9/25/98 all to Allanna Sullivan Wall Street Journal 200 Liberty St. New York, NY 10281!
The Postmaster General in Washington sent me a letter with a check for $3.67 to compensate for the postal service that I was denied. The Omaha postal service actually called the New York post office and I was told that the New York post office “manually” checked out the their ledger for Received Documents (packages) and “supposedly” found that as mentioned above A WALL STREET JOURNAL REPRESENTATIVE DID NOT “INITIAL” THE POST OFFICE LEDGER FOR RECEIVING THIS PACKAGE! The Omaha post office stated that they thought that the Wall Street Journal did actually pick up these Certified Letters (packages)!
From: Marv Eatinger
To: schapirom ; fraud ;
Sent: Thu, Sep 29, 2011 5:56 pm
Subject: DALECO RESOURCES CORP – OTCBB SYMBOL “DLOV” – WHITE COLLAR CORPORATE CRIME!
IS THE SYSTEM REALLY WORKING? 27 minutes ago See http://www.ragingbull.com post #936 message board for symbol “DLOV” for remainder of this message!
« Message list | Reply to msg. | Post new msg.
« Older | Newer »
29 Sep 2011, 05:55 PM EDT
Msg. 936 of 936
Jump to msg. #
Stockholders of Daleco Resources Corporation: As of Sept. 29, 2011 Marv Eatinger has not been able to get the Securities and Exchange Commission to publish his public comment submitted to SEC Release #33-9257: S7-36-11 September 6, 2011!
From: Marv Eatinger
Sent: Fri, Sep 16, 2011 9:12 pm
Subject: Fwd: OFFICE OF WHISTLEBLOWER SECURITIES AND EXCHANGE COMMISSION???????????????
From: Marv Eatinger
To: mitch0033 ; dubcongress ; fraud ; schapirom
Sent: Fri, Sep 16, 2011 5:08 pm
Subject: Fwd: OFFICE OF WHISTLEBLOWER SECURITIES AND EXCHANGE COMMISSION???????????????
Mark – http://www.deepcapture.com : I do not believe the SEC has any intention of publishing my SEC public comment submitted by email dated Sept. 8, 2011 7:16 PM CDT to Release #33-9257–S7-36-11 Sept. 6, 2011 as shown below.
The population is ready to be educated about how their investments in food, currencies, commodities, resources, energy, shares, bonds, etc. are fake and only fractionally backed by anything real, with the difference going into bankster bonuses.
The system is set up to peel value from the working class and wealthy class to the criminal class. We have a system where police and politicians only regulate below and never regulate the criminals they report to.
These scumbag parasites are being exposed and when the population gets it, change will be near instant.
The Wallstreet protests are only going to grow.
Each little action of change piles up like a snowflake and those flakes can pile up for decades, but when the avalanche of change comes, it comes quickly.
We are in a moment of history, where the cancerous parasitic scumbags are about to by excised from humanity.
Anonymous is a group of hackers with no leaders, devoted to change to benefit humanity.
Kudos to heroes behind this site.
Results in Change.
Don’t worry Marv, from now on I like many others will just ignore your posts ..so again no worries.
Now back on topic. It would appear that the SEC is attempting to look like they are going to do their jobs..FINALLY…MAYBE..HOPEFULLY.
More window dressing. They won’t even name names among the raters.
Wishy washy bullshit from the SEC begets confusion among the culprits. Surprise? Nope!
When can I join you in a protest at Wall Street?
If you show up would make all the difference
I will be by your side
Subaccounts now squarely on SEC’s radar
Commission alert about possible abuses linked to subdivided account arrangements
By Liz Skinner
September 30, 2011
Brokers are on notice: The Securities and Exchange Commission is concerned that trading through subaccounts might be used to hide money laundering, insider trading and other serious financial abuses.
The commission’s inspections and examinations staff issued an alert yesterday warning that it will be looking closely at the controls and procedures in place at brokerages that offer these accounts because officials believe they are ripe for manipulation.
Customers who open master accounts with a broker-dealer often subdivide it so individual traders or groups of traders can use it. In some cases, the subaccounts may be so divided that the customer and the firm where the account is held might not even know the identity of the traders in the subaccounts, the SEC staff said. Oftentimes, these accounts are opened by limited liability companies, limited liability partnerships or another broker-dealer, the staff alert said.
“Although master/subaccount arrangements have legitimate business purposes, some customers may use them as vehicles for illegal activity or in an attempt to avoid or minimize regulatory obligations and oversight,” said Carlo di Florio, director of the SEC’s Office of Compliance Inspections and Examinations.
The alert includes recommendations for brokers to make sure they are complying with the SEC’s new market access rule. That rule, which took effect in July, requires procedures to limit the risk of offering market access to customers, including master/subaccounts.
The new rule is one factor in the staff’s decision to issue the alert, said George Kramer, Mr. di Florio’s senior counsel. The other issue: Staff investigators have uncovered cases that have raised concerns about the market access customers have to these accounts, he said.
A call to the Securities Industry and Financial Markets Association, which represents broker-dealers, wasn’t returned.
Some customers “structure their accounts with the broker-dealer this way in an attempt to avoid or minimize regulatory obligations and oversight,” the alert said. Promoters of these types of accounts often target potential traders in the U.S. and abroad by promising increased leverage and lower capital requirements than would be allowed if these people were day traders at a registered broker-dealer, the alert noted.
In one case, the commission charged a Raleigh, N.C., brokerage with failing to comply with an anti-money-laundering rule that requires broker-dealers to identify and check the identities of customers and to document its methods for checking.
The firm, which had 99% of its customers living outside the U.S., allowed subaccount holders to have direct control over securities transactions in the accounts and the foreign entity that held the master account didn’t have any involvement in the trades, the SEC alleged. The firm, which was not identified by the regulator, settled the SEC complaint by agreeing to pay a $25,000 fine.
I’m certain that the hedgefunds are quaking in their boots. Not!
I would imagine that the Jim Chanos’s, David Eihorn’s, Daniel Loeb’s, etc., of the the world have used their tremendous ill-gotten wealth to purchase the best “quake-proof” boots available. The SEC made it clear when they fired Gary Aguirre for his following the “stink trail” to John Mack that there are “quake-proof” boots available to the billionaire hedge fund managers who can afford them. The markets and the U.S. in general are doomed until the class warfare if fully waged… and I’m not talking about “money” class warfare (rich vs. poor), but “criminal” class warfare (those who play by the rules vs. those who only try to circumvent them for great personal wealth at the expense of the honest public. JMHO
99% of their customers were foreigners probably up to no good. I bet that $25,000 fine was really hard for them to swallow, LOL! I doubt they even noticed it. Hardy enough to deter the kinds of profits they are are making by bypassing the laws. As long as the “punishment” leaves them in plenty of black ink, then such menial “punishment” is closer to enticement to continue their escapades. JMHO
All failure to deliver/ naked short shares sold into the stock market must be bought in. It is the only answer to market reform that makes any sense.
Sean: just ignore this post – Thank You
Raging Bull: Post 931 on DLOV Message Board
You +1’d this publicly. Undo
Jul 3, 2011 – http://www.deepcapture.com Mark Mitchell Chapter 18. Marv Eatinger says: Your comment is awaiting moderation. June 27, 2011 at 2:53 pm …
How deep into the regulatory system and prosecution of public corporation white collar crime “NAKED SHORT” sales and “FAILS TO DELIVER” of public corporation equities does Daleco Resources Corp expose past loopholes in regulatory law and the connections to the movers on Wall Street – specifically to start with DTC, NSCC, and DTCC???
DTCC’s subsidiary, The Depository Trust Company (DTC), established in 1973, was created to reduce costs and provide clearing and settlement efficiencies by immobilizing securities and making “book-entry” changes to ownership of the securities. DTC provides securities movements for NSCC’s net settlements, and settlement for institutional trades (which typically involve money and securities transfers between custodian banks and broker/dealers), as well as money market instruments.
In 2009, DTC settled transactions worth more than $299 trillion, and processed 299.5 million book-entry deliveries. In addition to settlement services, DTC brings efficiency to the securities industry by retaining custody of more than 3.5 million securities issues worth almost $34 trillion, including securities issued in the US and more than 120 foreign countries and territories.
About half way through – find out where these clearing brokerages, like JP Morgan are hiding their criminality and force them to put it on their 10K’s, so they get naked shorted into oblivion.
Max Keiser is a friend to the cause.
Guillotines and torches, I like the meme. It doesn’t matter how many billions you’ve stolen when the people can have your head in a basket. No power from a basket.
The frail old men who play the role of the wizard of OZ are being exposed.
There’s a historical precedent. The scumbags don’t win in the long run because the pendulum can only go so far before people stop playing the game. It doesn’t matter how many hotels you have on the monopoly board if the other players pick the board up, dump the pieces and tell you they don’t want to play any more.
As the protests accelerate, you will find there are lots of people on Wallstreet who will join humanity and sell out their scum bag bosses.
There’s an avalanche of change coming and I predict it will happen before the end of the year.
You’ve gotta love the spin.
Fox news is characterizing the protests against criminals on Wallstreet that Obama won’t arrest as communism, as if giving the banks welfare in 2008 isn’t corporate communism.
How about this one. The police herd the protestors onto the bridge, then arrest them. It turns out the police just received a $4.5 million donation from Wallstreet.
The bankster owned media doesn’t get it. We’re onto them and their propaganda techniques don’t work any more. We all talk to our relatives and they GET it.
The criminal class is ripping off the working class and the wealthy class.
Also Faux claims they’re protesting against climate change.
Official newspaper of Occupied Wallstreet.
Hedge Funds Pay Top Dollar for D.C. Intel
Hedge funds have been drilling deeper into what’s happening behind the scenes in Washington, and political “expert networks” have emerged as a big business.
And congressmen can trade on insider information. I can’t image collusion, can you?
Deep down the rabbit hole, Alice.
Tuesday, October 4, 2011
Overstock.com vs. Goldman Sachs: A True David & Goliath Story
Goldman Sachs New World HeadquartersImage via Wikipedia GS New World HdqtrsHe took a stand and fought back. Read how Overstock Patrick M. Byrne,Chairman and CEO, took on the Goliath’s on Wall Street AND WON! Just another example of how this peaceful revolution against the greed mongering Wall Street firms continues.
View the Overstock.com site for more news.There you you will find these stories and more…click here
All of the FINRA fines mean nothing since they can not collect a dime from anyone that left the business.
Not one dime. Not a penny.
Millions and millions of dollars they can not even collect
2nd Circ. Says FINRA Can’t Bring Fine Collection Actions
By Roxanne Palmer
Law360, New York (October 05, 2011, 3:37 PM ET) — The Second Circuit ruled Wednesday that the Financial Industry Regulatory Authority lacks the authority to bring court actions to collect on disciplinary fines, ending a long-running fight between the organization and a New York broker-dealer.
Attorneys for plaintiff John Fiero — whose firm Fiero Brothers Inc. was fined $1 million for allegedly executing a “bear raid” of short-selling in order to manipulate the price of certain securities — had argued that the Securities Exchange Act does not grant FINRA or its predecessor, the National Association of Securities…
I feel for you I really do I truly sympathize, but we need to read the next installment much more than you realize.The iron is hot, so strike it.
a good story on short fraud, by Wall St group
Mark, you’ve timed this beautifully.
Things are heating up.
Who is behind this Latour Trading? Bigger than Goldman and Morgan Stanley in program trading.
“LATOUR TRADING LLC” “NICHOLAS MASCIO”
SVP at MF Global Securities Inc.”
I am an “economic ignoramus” when it comes to the levels you astute contributors have shown in some of your posts. Thanks!
But, I don’t think the root of our problem is political (as in the form partisan finger-pointing) so much as criminal in nature, and I doubt there’s that much of a percentage of difference between them if there were some easy way to find out.
I suppose we need politics. I imagine criminality is needed by the “criminal class” for the “status quo”, even if “emergency orders” or an uneven playing field in our courts is required to accomplish their “noble” goals at times. After all the ends will justify the means, right?
But this is my point. What are our “goals” as red-blooded Americans? If you have evidence that could help bring an end to this looming disaster any sooner, please spill it to someone who can make sure something is actually done about averting total disaster.
If you haven’t read the recent articles on the huge awards now being funded, you should Google it an read it. There’s unbelievable rewards for whistle-blowers who can provide the damning evidence on these naked shorting hedge funds, short and distort racketeer, mass media paid message board bashers, etc. Get in the the big money now before you find the other rats left you alone on that sinking ship!
It’s one thing for the counterfeiters to be Arabs and another to be your .1% betters on Wallstreet.
This site has been shut up by the protests.
Winning it, I kind of disagree on both your points. Actually I think it’s kind of the same thing whether the Wall Street crimes are committed by “Arabs” or “your 1% betters”. A crime is a crime, and a prison cell is a prison cell regardless of either condition above.
Secondly, how in the world did you come to the conclusion that the protests (I assume you mean the “Occupy Wall Street” protests” have “shut up this site”? ROFLMAO! It might be a diversion of sorts, but nothing these protesters are doing is justifying the Wall Street crimes by “Arabs” or “1%’ers”, not will it stifle the demands for Wall Street “clean up” and prison time for market criminals regardless of their nationality. JMHO
I need some help to get this done.
A petition to:
1. Go over all stock purchases in the last decade document which trades were executed , the money taken from the share buyer, and a real share never delivered to the buyer. This must be done in tandem with a audit of how many real shares were issued by the company the shares were purchased in , compared to the amount of shares that were already sold into the market of that company. Then all stock sales that were not covered by real shares at time of purchase, when the money was taken , must be reversed and the money refunded to the share buyer.
2. All brokerages and market makers who are shown by this process to have been defrauding investors shall then be tried in a court of law in the United States of America by a jury of twelve citizens. For fraud against the people who bought the shares in the companies they thought were real shares.No back room deals, no without admission of guilt settlements.
3. All deals that were made prior to this process regarding failure to deliver issues should be brought out into the public eye to be evaluated for fairness to the property owner and if the deal that was made is not deemed to be fair to the property owner then all deals concerning defrauding the property rights of a citizen of the United States should be declared null and void by reason of being against the rights set forth in the Constitution.
4. If there are any companies that have been harmed by the failure to deliver of stock in their company these company’s should have the right to sue for damages to their share price leading to damage to the company’s ability to conduct business.
It will give all holders of all stocks that were manipulated by the naked shorting process their day in court.It will also allow all companies that have been destroyed or damaged by this process to sue for damages.
Think of a vacuum sweeper, the naked shorting process is just that a giant money sweeper sucking the money out of our economy, this would be flipping the switch to reverse the flow. The money would spew back to the very places it was sucked out of, restoring money to the damaged parties.
I think we could get 5000 signatures on that.
Just got the link to this video from another site. The man makes a tremendous amount of sense, which needs to be heeded. In our “all-important strive for political correctness” (even if it conflicts with moral correctness), we are headed down a slippery slope. If we don’t do something today, our children will not forgive us tomorrow.
OK, Patrick & Mark, I hate to beg, but I’ve gotten to that point. Is there anything any of we supporters can do to help you expedite the release of the next chapter. I know you said the delay was because there were a lot of intricacies in next fact-filled Chapter 22 that had to be validated prior to release (or something like that).
We also know how much to try to be 100% accurate on the first pass. However, if you were to release a heavy-laden chapter which happened to have an inadvertent (and usually non-critical) error, I think most would understand and be happy with a correction if and when it needed to issued. But we need to get on with the gist ASAP IMHO.
My fear is that if we spend too much time trying validate every single point your reporting about this very complex and intentionally very secretive world, we may well lose momentum, as I imagine it quite time-consuming to darn-near impossible in some cases.
I sincerely appreciate Patrick’s two articles since the release of Chapter 21, and they indeed touch on important and hot topics as well. However, since it has been almost two months since the release of Chapter 21 of Mark’s “Miscreants’ Global Bust-Out” Chapter 21, I beg you let us know if there’s anything you might be able to piece-meal out to your volunteers which might help expedite the release of Chapter 22? I realize that publicizing certain aspects could be detrimental to the work as a whole, so believe me, telling me “NO” will not hurt my feelings nor diminish by enthusiastic support of DeepCapture. Just an offer to do anything I can if it will help get that Chapter rolled out any sooner.
OK, I admit, I’m beginning to sound like a “DeepCapture junkie”. LOL! Keep up the great work guys, and if it takes a little longer, then I guess it just needs to take a little longer. I’ll be here whenever it is released, and I just hope there aren’t others who will have let a little time lessen their enthusiasm at correcting the monumental miscreants you have been exposing and continue to make “very nervous”. Good luck and God bless in your mission. If successful, I believe you will have done more help the future of American security than anyone currently alive. JMHO as I anxiously await Chapter 22.
Did your letter mention protests against Billionaires that are not paying their fair share?
That are protesting against people like you Patrick Byrne
Power and equality to the people
Patrick Byrne sells toasters on the internet.
Jaime Dimon is an oligarch.
The powers that be are trying to reframe the protest against criminal oligarchs as a protest against the rich.
The protest is against the criminal class, not the wealthy class.
It’s all about the pitch to the sleeping giant, the American people, who don’t understand the problem yet.
“…The protest is against the criminal class, not the wealthy class. …”
You got that right. I listen to one of these “talk” types on the radio in the evening, who touts himself as “conservative”. All he does is bash the protestors as being a bunch of hooligans attempting to get something for nothing. But as this website accurately points out, many in the media are “captured”. This guy (Tim Conway, Jr.) certainly fits the bill. His motivation is obvious, as he thinks he is sucking up to those he hopes will keep him employed.
But is you really want to get to the root cause of all of this corruption, it is the fiat currency that exists in all countries. It just morphed itself into FTD’s as well. Honesty will NEVER return to financial markets until “real” money again has widespread acceptance.
Informant Surfaces in BNY Probe
For a decade, Grant Wilson toiled on a small trading desk at Bank of New York Mellon. For the last two years, he was also a secret whistleblower, assisting currency-trading investigations of the bank.
They always come out sooner or later
Informant Surfaces in BNY Probe
For a decade, Grant Wilson toiled on a small trading desk at Bank of New York Mellon. For the last two years, he was also a secret whistleblower, assisting currency-trading investigations of the bank.
Under some of the new whistle-blower reward programs, I would image he could come out of this with a ton of money, if it is indeed on a huge scale. Provided, of course, he lives to enjoy it since it seems they’re blasting his name out there.:(
Director, Alabama Securities Commission
With a 98 percent conviction rate when it comes to securities crimes, it’s fair to say that Borg, 59, is one of the toughest “stock cops” in America. “We send the message, this is not the place you want to commit fraud,” he says. And experts say state regulators like Borg are going to be all the busier — and more important — come January, when the U.S. Securities and Exchange Commission hands over the burden of overseeing a wide swath of investment advisers (those managing up to $100 million).
we need this guy
I agree, if we could get some guys like this one heading up a REAL Securities & Exchange Commission (a new “untouchable” one built from the ground up anew), I’m sure we’d see Wall Street crime drop radically and people would start seeing their 401(k)’s begin to act normal again, etc.
C’mon, Patrick & Mark… UNLEASH THE FURY OF CHAPTER 22! Hopefully it becomes the “Catch 22” for the naked shorting market manipulators!
Ny POST CUBAN and Flash traders
Dallas Mavericks owner Mark Cuban is calling a technical foul on Wall Street traders’ fast breaks.
The billionaire entrepreneur says high-frequency traders, or HFTs, are corrupting the market and has called for a tax on trading as a way to tame increasingly volatile markets.
“People are going to scream bloody murder, of course,” the NBA owner told The Post. “But we have to ask ourselves, what’s the purpose of the stock market? It’s supposed to be a source of capital for growing business.”
“It’s lost that purpose,” he said.
A tax on trading — say 25 cents a share per transaction — would help weed out short-term traders, such as computer-driven traders that buy and sell in milliseconds, Cuban said. HFTs have become a source of growing aggravation for traditional, long-term investors, who blame the black-box group for ramping up market volatility.
Chapter 22 coming out soon. Sorry for the delay.
Thanks Mark! Your a true American Patriot. If your ever in Scottsdale, shoot me an email. Your more then welcome at my house anytime for cocktails and a dinner of your choice. I’m a great cook!
Thank you, Thank you, Thank you!!
Anyone else think that this occurring just before December 5th is not just a coincidence. I sense something big and really bad is about to go down. My only comfort is that we have already suffered enough and I think its their turn that cometh!!
The system the big manipulators used to suck the money out of the accounts of the people of the world , not just the American people is about to be revealed in court.Before that happens the perpetrators of the crime will do there best to remove all the wealth they have stolen from the reach of the people who will want it back. By collapsing the banks and brokerages that are going to be shown in court as responsible they think the people who have been defrauded will have no recourse to recover their money.I call bull sh*t. If the government wants to they can track every transaction made by every person in the country over $10,000, they initiated this system to fight ‘terrorism’ and money laundering. Remember that? Yet I am sure the claim will be they can not track what happened to the money removed from OUR accounts by the process that will be revealed by Mr. Byrme’s court case.I think if we can have a sophisticated enough system to track all transactions that the government has been tracking all these years then we should have the technology and enough trading records to track the trail of where the money was taken by the process that will be shown in a court of law to be real.We should be able to audit trading records to show when more shares were sold then a company issued and when those shares that were naked short sold NEVER delivered, resulting in total fraud and loss to the investor.That money MUST be returned.This can not be allowed to be to ‘ complex’ to track. The criminals can not be allowed to keep OUR money.For that will be the ultimate act of treason.
harry markopolos,, why isnt this guy leading the charge in naked short selling fraud?
Harry M. Markopolos
HE will help Main ST fight WALL ST,,, he will teach the public he will LEAD get the word out WE NEED HARRY MARKOPOLOS NOW
I met him at a speech he gave. Basically he said that had he known what he was getting into, he never would have looked into Madoff. The guy has a family and kids, I guess I can understand.
I found this on a message board. Look how long we have been sounding the horn on these miscreants and their crimes..
This is sad.
On Nov. 5, you are supposed to transfer your bank accounts (and brokerage accounts?) to community credit unions to send a message to the “too big to fails” the control our government.
Basically, the banks are destroying homes to create an artificial shortage to drive housing prices back up.
Banks hate inexpensive housing. If people can buy a home for the price of a car and then pay it off over five years, then the house is of no more use to the banks. The goal of the banks is to have people always have to work their entire working life to pay for their house, thirty years or more.
So banks work to keep home prices high, to keep you slaves to their mortgages. and now they are destroying perfectly good homes to create an artificial shortage to drive prices back up.
There’s reality, then the make believe Wizard of Oz Bankster family criminal class reality which Fox news and other propaganda outlets beam into our brains each day.
In reality, the country has more wealth if there are more homes to house people. No one can honestly argue whether more houses in existence is more valuable than less houses in existence. No one can argue that bulldozing houses reduces real economic value. It is obviously stupid and counter productive.
In the bankster reality, the country has more wealth if homes are destroyed and even as people live homeless on the street, the nominal value of the average home goes up because houses become unaffordably expensive and more people go into thirty year indentured servitude to pay off their mortgages, so the banksters have more capital on reserve to use to leverage their derivative bets against the success of our own economy because they only fractionally back everything and win when stocks crash in value and mostly bet against the rest of us in the interest of liquidity.
We get a mortgage, they take our IOU, stamp it with a guarantee, then monetize it to create money out of thin air to lend to us, then collect interest for the next thirty years. But that’s so boring, that with the removal of the Glass Steagall act, they can just turn around and use that wealth to bet on the collapse of our entire standard of living and if they bet wrong, they know the tax payers will bail them out.
If they bet wrong, such as a company that is booming with success, they just put the IOU printing machine into fifth gear.
We buy stocks and they piss on us by selling us IOU’s. That’s liquidity.
It’s so disgusting, I have trouble not vomiting. Think about it, we are bulldozing houses as our brother and sister human beings go homeless. I’ll repeat – give your head a shake – we live in a system that is so catered to the oligarchs, that it is okay to destroy things that people could die on the streets if it is taken away from them, just so the billionaires can afford that next $50 million painting for their living room.
I respect Buffet, as he gets it as he gets older. The only thing precious in this world is time and we all lose every penny when we die. For those that get it, they get that we all have an obligation to raise the living standard of our lowest brother or sister. I am lucky enough to do well financially and may be in the 1% or at least close to it (as is Buffet and Patrick), but I take the time to talk to homeless people on the street and there is a great injustice as I talk to people with no legs that realized that the war in Iraq is a fraud and now they are too poor to defend us at home against the real villains.
It’s really that ugly. The scumbags bulldoze houses, so children have to live on the street, so they can get that next bonus. I believe in capitalism and the right for producers to make more, but I can’t help but think there is more to life than a business cycle of booms, busts, then mandatory wars to keep the money supply from shrinking.
I believe in capitalism. I believe in the right for entrepreneurs to get rich. I just don’t believe in this fascist system of government where criminals never go to jail, they control who gets elected and they get bailed out if their bets go wrong. I’m sick of seeing narco terrorists hugging presidents and heads of the NYSE and I believe the same people that control the banking frauds, who own our governments, also own the drug and arms trade and only regulate against it to keep prices high and to keep competition out.
What we have now is closer to Mussolini or Stalin than anything democratic and I see the 99% protestors as protesting for democracy and true, fair, real capitalism.
In Hong Kong, they can set up a stand in an hour and go into business (capitalism), where as here, we have to get permits, business licenses, etc. pay taxes, then compete against companies that are controlled by tax free foundations that were set up by the oligarchs in 1913, before they decided to charge the rest of us income tax, so we couldn’t compete.
I had a friend in India ask me why we consider ourselves free when there are way more rules here than in India. He wasn’t suggesting that freedom was better. He was just saying it was disingenuous to compare our rule burdened society where the oligarchs don’t have the same rules to third world countries where anyone is free to open a stand and sell something the same day.
Which is capitalism? Which is democracy?
I don’t think we should use the guillotines, but it wouldn’t hurt to have them on show in Wallstreet. I see that protesting outside of Bloomberg’s restaurant last night was effective. A little fear can go a long way.
There’s nothing like a guillotine to remind the criminal class of the value of money versus the value of time left until death.
US ventures into bloody Africa conflict
What if the head of the mob controlled arms dealing, drug dealing, share counterfeiting and decided who got elected because they control the media and educational system? What would that society look like?
Opium use has gone up since the invasion.
The Democrats (Clintons, Kerry) and the republicans (Bush, Reagan), were equally involved in running arms out of Clinton’s Mena Arkansas to receive drugs back, then launder the proceeds through a Wallstreet that can’t dot i’s or cross t’s because it is okay to treat IOU’s the same as real shares.
For those still writing letters to their congressmen, you need to give your head a shake. They abandoned the constitution after 9/11 and in the last ten years, these criminals have been orchestrating a takeover of our system of government where they want to create new rules authorizing that past fraud was legal.
My blood is boiling and I hope yours is too and I hope we all support the protests, with the recognition that some of the 1 percenters also support the protests.
Back on topic for a moment.. Is it me alone that believes that NO ONE @ the SEC should be allowed to trade stocks because of the “possible” conflict of interest concept?
More rhetoric from the number one shill of the banksters himself. But I think they are feeling the pressure from the occupy Wall Street protesters. They have to make it look like they are taking some sort of action..right??? After all an election is coming up?
Goldman Battles Bayou Decision
.Article Stock Quotes Comments (5) more in Law | Find New $LINKTEXTFIND$ ».
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See a sample reprint in PDF format. Order a reprint of this article now LAWOCTOBER 15, 2011.Goldman Battles Bayou Decision .
BY LIZ MOYER NEW YORK—Goldman Sachs Group Inc. is continuing to fight a $20.5 million arbitration award that, while relatively small from the big bank’s perspective, has broader implications for Wall Street.
The award stems from Goldman’s role as a clearing broker for a failed hedge fund. Goldman filed an appeal Thursday in the U.S. Court of Appeals in the Second Circuit, arguing as it did last fall in district court that the Financial Industry Regulatory Authority arbitration panel that awarded the sum ignored the law.
On the opposite side are the creditors of Bayou Group LLC, which accused Goldman Sachs Execution & …
BY LIZ MOYER
NEW YORK—Goldman Sachs Group Inc. is continuing to fight a $20.5 million arbitration award that, while relatively small from the big bank’s perspective, has broader implications for Wall Street.
The award stems from Goldman’s role as a clearing broker for a failed hedge fund. Goldman filed an appeal Thursday in the U.S. Court of Appeals in the Second Circuit, arguing as it did last fall in district court that the Financial Industry Regulatory Authority arbitration panel that awarded the sum ignored the law.
On the opposite side are the creditors of Bayou Group LLC, which accused Goldman Sachs Execution & …
Their rigged game is coming to an end. They can no longer hide it with the help of the “Main Stream Media. Its over and will be done soon. Just watch and as another poster said this will not end well!!
I feel bad for the legitimate members of the “occupy Wall Street” crowd trying to do their best to first comprehend and then bring to light abusive naked short selling crimes. I will guarantee, however, that they will not find a better example of Wall Street billionaire behemoths leveraging their superior financial resources in order to directly pick the pockets of Main Street investors. In a nutshell I’d summarize abusive naked short selling (ANSS) as boiling down to this: the daily “netting out” of failed delivery obligations via entering into “ex-clearing arrangements” outside of the DTCC or inside of the DTC and NSCC and the marking to market of the monetary value of these failed delivery obligations on a daily basis has absolutely nothing to do with the “prompt settlement” of all securities transactions mandated in Section 17A of the ’34 Exchange Act.
The “settlement” of a securities transaction mandates the “good form delivery” of that which the investor thought he was purchasing. This precludes the use of self-replenishing lending pools like that at the NSCC’s “stock borrow program”. “Good form delivery” of U.S. securities cannot be accomplished by tallying delivery failures, hiding their existence from the investing public and then making the sellers of nonexistent shares merely collateralize these debts on a daily basis.
The OTC markets for development stage U.S. corporations unlucky enough to be targeted for destruction are constantly being “rigged” to go nowhere but down in price. In our markets you need not deliver the securities that you sold before gaining access to the money of the buyer of those (nonexistent) securities. Powerful industry lobbyists succeeded in removing the “withholding the mark” (buyer’s funds) mandates.
Nearly all clearance and settlement securities on the planet with the notable exceptions of ours and that in Canada are based on “delivery versus payment” or DVP. You don’t gain access to the buyer’s money UNTIL you deliver that which you sold. All the DTCC asks, however, is that you collateralize the monetary value of your failed delivery obligation on a daily marked to market basis. In fact, just last month the DTCC FINALLY launched an initiative to move on to a DVP system within the next couple of years. One can only imagine the intensity of these attacks ratcheting up before that deadline occurs and a level playing field is accessible.
As the readily sellable “security entitlements” that result from each and every “delivery refusal” invisibly pile up in the shares structure of corporations targeted for destruction then the money of the investor will flow to the sellers of even nonexistent securities despite nothing ever being delivered. It’s sometimes hard to grasp the heinous nature of these crimes but keep in mind that what is being sold does not even exist. Unfortunately, the laws of supply and demand still dictate share prices through the “price discovery” process in our markets. Billionaire behemoths on Wall Street can easily collateralize even astronomically high naked short positions and thus manipulate the readily sellable “supply” variable upwards which leads to the share price and the associated collateralization requirements being manipulated downwards.
Since the criminals that sell nonexistent shares for a living absolutely refuse to deliver that which they sold then these failed delivery obligations need to be forcibly “bought-in” so that the purchasers of shares can finally get receipt of that which they bought and these trades can finally “settle”. Forced buy-ins are the only source of meaningful deterrence to the commission of these crimes in the first place and the only option available when the sellers of securities absolutely refuse to deliver that which they sold.
Our SROs and regulators are currently caught in “cover-up” mode. Forced buy-ins of refused to be delivered shares will drive share prices up to previously unmanipulated levels and perhaps beyond. These will alert the investment world that many of their historical investments in development stage securities never had a chance to succeed. The sad reality is that the SROs and the regulators cannot be in robust “investor protection” mode and “cover-up” mode simultaneously. It’s impossible.
The choice then becomes to either immediately buy-in the delivery failures of the corporations that have survived these attacks or continue on in “cover-up” mode and refuse to warn investors in sometimes mortally wounded development stage corporations (that just so happen to provide our nation’s job growth engine) that the company they are investing in might have already been all but preordained to die an early death. Note the tragedy involved when the congressionally mandated providers of investor protection not only refuse to do their job while in “cover-up” mode they actually facilitate the commission of these crimes against new investors that they refuse to give a “heads up” to.
The main question that arises in this family of securities frauds is this: which is the bigger crime? Is it the continued oversight by SROs and regulators of the downward share price manipulation of the shares of easy to kill development stage U.S. corporations or is it the refusal to inform prospective investors, before the buy button is pushed, of the enormous amounts of readily sellable “security entitlements” poisoning the share structure of certain corporations that may have already been preordained to die an early death?
The single best assessment of the up to the minute current level of corruption in our markets is that something as obvious as mandated buy-ins STILL has not yet been instituted. WHY ARE THESE CRIMINALS BEING PROTECTED? (Please don’t cite this wonderful provision of “liquidity” they theoretically accomplish). Mandated buy-ins of archaic delivery “refusals” are like heat-seeking missiles. The criminals are easily identified. The bill for the buy-in will fall directly into their lap. The punishment is metered out in proportion to the level of the criminal behavior. The innocent are protected. The buyers finally get delivery of that which they paid for and the trades finally are allowed to “settle” albeit not very “promptly”. WHAT’S IT GOING TO BE, ROBUST INVESTOR PROTECTION AND A LEVEL PLAYING FIELD OR CONTINUE ON IN COVER-UP MODE AND THE LIST OF THOSE BEING DEFRAUDED EXTENDS ON TO WHO KNOWS WHERE?
It’s moving from a need for buy ins to a need for French Revolution style guillotines.
Dear Dr. De Costa,
I have been attempting to understand the process by which the refusal to deliver what was sold has impacted the average investor.
I have also been trying to conceive how the failure to deliver could be ‘undone’. Is it possible, as I have stated in my earlier post [ October 11. 2011 8:07 am] to track these failures and reverse the process, refunding the money to those who it was taken from.
My October 3, 2011 post has a link to a dropbox report I am sending to everyone I feel the information it contains may help understand this problem. Especially the political and law enforcement personnel I feel should be on the front lines in the defense of their constituents and citizens respectively.
If you have any suggestions for improvement of this document I would appreciate feedback on it as I have no formal training in this subject material.
Thank you for your continued efforts and support of those of us who will not give up on this fight no matter how out matched we are and as always I will
Simply put, the Mafia has won.
One more week gone and deepcapture has abandoned the people they say they represent. Mark, lots going on with the effort, OWS has been going for weeks and you bail on them? WTF??
Bring on ch 22. where are you? Did they get to you too?
Chapter 22 will drop soon enough.
DC has been in the fight long before Occupy Wall Street, and will continue to do so long after they go home. OWS has no stated principles or solutions – which perhaps is a good initial strategy; whereas DC has a defined set of issues and target set.
I am sure the members of DC are with OWS in spirit, but there are more productive uses of their talents right now than to march in the streets. To use a martial analogy: OWS is the infantry – the ground pounders seizing territory in the battle for public opinion; DC is special ops – penetrating behind enemy lines and illuminating targets.
DCN – COULD NOT HAVE BEEN EXPRESSED ANY BETTER!!!!
Let the panic begin. This is going to get nasty in a hurry.. Sorry, we’re already at nasty..horrifying is fast approaching.
The Federal Reserve System, the Fed, has been out of control for decades. The Feds have allowed known Frauds in both the Banking and Wall Street sectors (mortgage fraud // naked shorting via creation of counterfeit shares) continue unchallenged so its Banking and Wall Street insider buddies could fraudulently steal more and more money from the American Public.
Here is an article that quotes Economists who think the Fed should be Ended or Drastically Downsized:
Hear! Hear! This article makes WAY TOO MUCH SENSE so there’s no way the Powers that Be would ever consider the corrections that are so obviously needed. What fun would the “game” be to “them” if it weren’t “rigged”? LOL! JMHO.
Patrick, at the rate these guys are going there won’t be anything left to sue!! LOL I can’t help to think that they would quicker bring down the whole damn corrupt system than be found guilty in court.
Its amazing.. everyone one else seems to be doing something about curtailing the criminal activities in their capital markets except for the good ole US of A. I wonder why huh SEC?
This is a most watch video from the Dylan Ratigan Show. And is VERY much on Topic.
The people who cratered the U.S real estate market , profited in the billions.Oh boo hoo they had to pay back 285 million.This was the bullet to the head that was used to take down the real estate market, which was bet against across the board by these same players.Not just the CDO that was sold but the entire real estate market was brought down by this. Freddie, Fannie, all home building companies and the value of YOUR house.THEY profited from ALL of it.
HOW DO YOU FEEL ABOUT THIS ‘SETTLEMENT’?
SAC Capital Faces Second Deal Probe
8 hours ago
By JENNY STRASBURG And JEAN EAGLESHAM US securities regulators are examining whether SAC Capital Advisors LP improperly profited from trades made before a …
Wall Street Journal
ScalpTrader: GMCR — As I suggested yesterday (at $82), funds are blowing out GMCR due to the accounting concerns. You just can’t hold a stock like that on the books these days b/c you look like a moron to clients if it blows up. Just look how Paulson’s position in that Chinese timber co has tarnished his reputation. (63.74 -5.96)
Steal all you can $100 stock down 35 and going lower
Hey I would go after PCLN next $450 stock plenty of room on downside, Make a story and steal steal steal free money
I know hangthem put this 2 post earlier but the title on Huffington post sounds so much better!!LOL Now watch the Dominoes start falling as they try to save their own a-ses!!
What ever happened to Bloomberg?
Are they captured in the fight against naked short selling?
Schapiro doubts SEC will ban short-selling
Thu Oct 20, 2011 2:56pm EDT
* Schapiro says unlikely SEC will join EU in crackdown
* SEC will vote next week on systemic risk rule
NEW YORK Oct 20 (Reuters) – The U.S. Securities and Exchange Commission is unlikely to join the European Union in imposing another ban on short-selling, SEC Chairman Mary Schapiro said on Thursday.
“Never say never, but it is hard for me to imagine the SEC ever doing a ban on short-selling again,” Schapiro said at a hedge fund industry conference. During the financial crisis in 2008, the SEC limited traders’ abilities to bet that certain stocks would fall.
Earlier this week, the European Union said it would regulate short-selling of stocks and bonds more strictly and ban “naked” credit default swaps on government bonds to help ensure more stability in financial markets. In a naked swap, the holder has no risk of financial loss if the underlying security falls.
Schapiro was the keynote speaker at a conference sponsored by the Managed Fund Association, one of the most prominent lobbying groups in the nearly $2 trillion hedge fund industry.
The SEC chief also discussed insider trading in the hedge fund industry, and the controversial use of so-called expert networks by traders and portfolio managers. Expert networks match industry experts with fund managers to help them understand companies better.
The SEC and other government agencies have investigated abuses in the use of expert networks — including the sharing of non-public information — and several arrests and convictions have resulted in the past year.
“There is nothing wrong with doing tremendous due diligence and research to understand a stock,” Schapiro said. “But there is a line, and I think it is a pretty bright line.”
She said the SEC is currently involved in several cases.
“Insider trading is absolutely not a victimless crime,” she said.
Schapiro said the SEC would vote next week on a proposal for SEC-registered investment advisers to work with funds and report information — including assets under management, use of leverage and trading positions — to the commission periodically.
While the data would be kept confidential, hedge fund managers are nervous that the information would reveal their highly classified and often profitable trading strategies.
In February. the Managed Fund Association sent a letter to regulators saying that “it is highly unlikely that any hedge fund is systemically significant at this time.” Therefore, the industry should not be the target of increased scrutiny and reporting obligations, it said.
That’s why she has to go.
Multivision’s Nazerali sues Deep Capture for defamation
2011-10-20 13:59 ET – Street Wire
by Mike Caswell
Vancouver stock promoter Altaf Nazerali has filed a defamation suit in the Supreme Court of British Columbia against short-selling conspiracist Patrick Byrne and journalist Mark Mitchell over material they published on the website deepcapture.com. Mr. Nazerali claims that the site portrays him as a criminal and a fraud artist, among other things. The site linked him with an Osama bin Laden associate and with members of the Mafia.
Mr. Nazerali’s notice of claim, filed at the Vancouver courthouse on Wednesday, Oct. 19, identifies Mr. Byrne as a resident of Utah and Mr. Mitchell as a resident of Illinois. (Mr. Byrne is also the chief executive officer of Internet retailer Overstock.com Inc.) Also a defendant is Deep Capture LLC, the registered owner of the deepcapture.com website, which claims to expose wrongdoing in the markets.
According to the suit, Mr. Nazerali’s name appears in several chapters that Mr. Mitchell wrote on the site which link him to Mafia figures, intelligence figures in Iran, and people with connections to Osama bin Laden and Moammar Gadhafi. The suit contains lengthy quotes from the chapters, the first of which is dated May, 2011. It describes how Mr. Nazerali received a call to assist somebody named “Kott” (a subsequent chapter mentions notorious 1970s stock promoter Irving Kott) in 1979 after a car bomb attack.
“Kott took some shrapnel but survived, and the first thing he did … was call his friend, Ali Nazerali … he wanted to know what the deal was with the car bomb,” the chapter read. According to the passage, Mr. Nazerali informed him that a hit man who worked for Canadian mob boss Vic Controni had planted the bomb. “Nazerali offered to patch things up with the Mafia — and he did a good job of it. Commissso ordered [the hit man] to lay off, and a couple of years later, Kott, Nazerali and the Mafia were all doing business together,” the passage stated. Mr. Nazerali later participated in arms dealing and delivering weapons to war zones, it read.
Another chapter said that Mr. Nazerali was best known for “small-time ‘pump-and-dump’ scams, though he is involved in much bigger schemes … such as bust-outs, death spiral finance, and naked short selling.” According to that chapter, he once employed short-seller David Rocker, who had previously inspired Mr. Byrne to found Deep Capture.
Other chapters made even more criminal connections, the suit complains. One, dated July, 2011, stated that Mr. Nazerali was an important figure at Bank of Credit and Commerce International, “the massive criminal enterprise that did business with everyone from La Cosa Nostra and the Russian Mafia to Colombian drug cartels.” His business partners, as stated in the passage, included a number of criminal organizations as well as several individuals affiliated with Middle Eastern regimes. Among them were Mufti al Abbar, “chief market manipulator for Muammar Qadaffi,” and “an impressive number of securities traders who are also narco-traffickers (such as Paul Combs, until Combs was whacked by Nazerali’s mobster friend Egor Chernov).”
The final chapter quoted in the suit accused Mr. Nazerali of perpetrating a stock fraud along with the head of Saudi intelligence, Anwar bin Abdul al-Aziz al Saud. The portion quoted in the suit provides no details of the fraud, other than to name the company, Even Resources.
According to Mr. Nazerali, the statements on the site contain many defamatory meanings. They are that Mr. Nazerali is a criminal, arms dealer, drug dealer, terrorist, fraud artist, gangster, mobster, member of the Mafia, dishonest, dangerous and not to be trusted. Mr. Mitchell is liable as the author of the statements and Mr. Byrne as the publisher, the suit states.
Also defendants are GoDaddy Inc., which registered the deepcapture.com domain name, and NoZone Inc., which hosts the website. The suit further names search provider Google Inc. and its Canadian subsidiary, which publishes a list of links to the defamatory statements along with brief quotes.
Mr. Nazerali is seeking a permanent injunction barring the defendants from defaming him. He is also seeking general, special, punitive and aggravated damages against Mr. Mitchell, Mr. Byrne, Deep Capture and a related company, High Plains Investments LLC. Vancouver lawyer Dan Burnett of Owen Bird Law Corp. filed the suit on Mr. Nazerali’s behalf.
None of the defendants have responded to the suit.
While Mr. Nazerali has had roles with many junior companies, his only current role is as the president of Multivision Communications Corp., a mostly inactive TSX Venture Exchange listing.
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The hedge fund “industry” as a whole, (like The Fed – but that’s a different story) need to be shut down altogether (I use the term “industry” loosely since I imagine the number of hedge fund managers in the Forbes 100 Richest People List combined employ less people than the last factory that was shut down due to our economy. JMHO
Sure there are good hedge funds, but you know the underhanded snakes to whom I am referring… the ones who years ago found that you suck in new investors (always talking about their programs or platforms that will find you the stocks on which to go long.
When do you EVER talk about going short? NEVER! That’s THEIR game. Watch those TDWaterhouse, E*trafe, et al., commercials and see how much time is devoted to discussing playing the downside of the market. Hardly none! That’s their game. You go long, and they bet against you. No wonder (I think it’s Ameritrade) who is offering $500 cash to sign up a new account. Sounds like a casino, doesn’t it?
It should. It’s the same principal. They way the odds are rigged, as long as you keep playing the game, you will lose. Sorry. JMHO.
Hey Mr. Anono. thanks for bring Nazeralis’lawsuit post here.. but where is the link? Sorry but I trust no one, especially an Anon. Is this real and if so some proof please. The miscreants that post here ask for proof… so do I. Thank u.
Here is the link so the story http://www.stockwatch.com/News/Item.aspx?bid=Z-C:MTV-1891160&symbol=MTV&news_region=C
In order for this to be defined as criminal defamation the information presented in the public MUST be proven to be false.
Dissemination of false information.If however this information as published is true the case will be dismissed.Do the players in this saga REALLY want to have the truth of this information proven in a court of law? Be very careful what you wish for you just might get it.Once this information is proven to be true in a court of law the authorities MUST take further action against the principal players in this scheme to defraud the property holders affected or they may find themselves in a court of law for dereliction of their sworn duty.If the can of worms gets opened so must the can of whoop a**. I don’t see that happening.
This is nothing but another try at threats and intimidation.
Good luck with that!
I personally know a great woman who had much of her life savings removed from her retirement savings account by the Auto Nation ‘bankruptcy’ that saw all her shares declared null and void. This hard working lady spent her life raising her children, grandchildren, and now her great grandchildren to believe that if you work hard and invest in the things you think are real you will be rewarded with the fruits of your faith and labor.
Needless to say HER fruit ended up in the basket of the manipulating criminals behind the fraudulent taking of American citizens property.
Now reading crap like this makes me sick.
Mark, we need you to continue to fight these criminals for all the people like her who cannot fight this battle themselves.
Keep the faith.
Dead men tell no tales department.
As posted here previously, none of the illegal trading that goes on in the financial markets will be solved, in any permanent sense, until the country returns to honest money. That is why it (honest money) was taken away as a legal form of debt payment at current value in the first place. After all, if real money was broadly recognized as the means to extinguish debt then no one would participate in the corruption taking place in the financial markets and those markets would have to reform or disappear. It is unlikely that they would disappear. Failure to attack the root cause of any problem, and only treat symptoms, like FTDs, and the like, is a guarantee that the heist will continue until the country collapses completely economically, just as did every country in history that debauched its currency. This country (USA), and all countries, cannot escape the inevitable. Unfortunately the timeframe is being stretched out to such an extent that it disguises the trend.
But, per the following: “…The sad truth is that “the people” are in favor of inflationary policy provided that they see themselves as near-term beneficiaries of the inflation. More to the point, they tend to be very much against anti-inflationary policies that necessitate reduced “entitlements” …”
Understand that “inflation” is an invention of mainstream economists “educating” the public that only rising price levels have relevance in order to raise a smoke screen against any understanding that it is counterfeit monies issued by governments that are losing their value.
Do you recognize the similarity here between what amounts to counterfeit shares circulating in the markets and what amounts to counterfeit currencies issued by governments? But if you do not understand that the latter spawned the former you will NEVER attach your thought processes to the solution, or is that by design, as quoted within this message.
Thanks Anon, rapid response indeed. Shows that Mark has you alls’ attention and that is a good thing because I believe there is more damaging stuff to come out. And being this was put out on a “Stalwart” of media representation Stockwatch I am truly impressed. I am surprised that Janet Shell or Harv Whatever did not have their hands in this article. I have never know Mark or Patrick to duck a fitgh so as a friend of mine would say “Its on like popcorn”. Lets get ready to rumble.
I have been reading a few of your posts and it’s pretty clever stuff. I will definitely bookmark your site.
Do that, but the way to really help us is to spread the word about DeepCapture.
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