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This crime may have become so extensive that it has created in our country’s financial system a crack so deep it could trigger a systemic collapse.

Unsettled Trades & Systemic Risk

The Foreclosure Crisis: Punchline to a Michael Lewis Joke…

The foreclosure crisis is being written and spoken of as though it were exclusively a paperwork crisis. For example, an October 18, 2010 Associated...
Patrick Byrne
Oct 18, 2010 3 min read

Regulators Spring Into Action Against Naked Short Sellers. Or…

As is explained in numerous pieces in DeepCapture, there are many cracks in the settlement system, one of them being the DTCC’s Continuous Net...
Patrick Byrne
Dec 7, 2008 43 sec read

The DTCC’s CNS naked short selling residue

In a previous post I named various places where unsettled trades can accumulate: in the desks of brokers, in pre-netting among brokers, in the...
Patrick Byrne
Dec 1, 2008 2 min read

The DTCC's CNS naked short selling residue

In a previous post I named various places where unsettled trades can accumulate: in the desks of brokers, in pre-netting among brokers, in the...
Patrick Byrne
Dec 1, 2008 2 min read

A Peace Sign for Wall Street

Greetings, and peace. As we Irish say, “I’m sorry for your troubles.” In today’s Salt Lake Tribune there is a story that is 100%...
Patrick Byrne
Aug 3, 2008 10 min read

The End of the World as We Know It

I will begin this preamble to the subject systemic risk with two quotes from Warren Buffett (by quoting him I do not mean to...
Patrick Byrne
Feb 15, 2008 5 min read