User:Riverrunrun

Counter Reply to Naked Short Selling

Thanks for the reply. Hopefully we can have a constructive dialog with truth as the goal.

I have been investing in the stock market for over 30 years and have seen all sorts of schemes to bilk the unsuspecting small investor out of his money. I don't know how much experience you have had with such actions, but, by the tone of you comments, I would guess very little.

You have mentioned several "problems" with removed version of this page. My version attempts to rectify the inaccuracies in the protected version.

You state that this version was "extremely biased with a thesis that 'naked short selling is bad'". I suggest that you look at the SEC ACT of 1933 and 1934. Illegal Sale of an Unregistered Securty has always been forbidden, by Sections 5 and 6 of the Securities Act of 1933, and by provisions of the Securities Act of 1934. It is illegal. In light of this, how do you construe that "naked short selling is bad" is biased? It is nothing more than taking someone's money and not delivering anything in return. That's why they call it FTD (Fails To Deliver), i.e., no shares are ever delivered to the buyer. This is a crime. Crime is bad.

Using this illegal ploy, a hedge fund can, with broker complicity, sell unlimited shares on the open market and drive a target stock issue down dramatically, even to zero. I am not talking about penny stocks either. Believe me, this really is happening to the tune of billions of dollars per day of lost retail investments. Last year I lost over $500,00.00 due to this type of criminal action. The stock involved had over 200% of company issued shares being traded. Now, obiously, not all of these shares were legitimate.

This IS fraud! You say that there is no evidence of this happening. The SEC, DTC and NASD will not allow the true numbers of FTD shares to be given out. Even using the FOIA will not bring forth the numbers. Do you honestly think this is OK?

If you want to remain "neutral", then allow the current version of this page to give facts and not erroneous propaganda in favor of naked short selling. Facts are not argueable. Distortion of same is.

Since the mid 1990's, the SEC has been aware of naked short selling and failed to adequately respond to investor and company complaints alike. In recent years the FBI, SEC, and the Royal Canadian Mounted Police have conducted investigations into naked short selling and followed these sales through money laundering schemes used by criminal elements. Those elements jeopardize our Homeland Security. Unbelievably, the practice of naked short selling still continues to this day regardless of where the profits are going.

Brokerage firms make their money not by representing their clients, the average investor. They make their money by trading stock. It's that simple. And no one trades more stock that the hedge funds. Between the two of them, they have created some of the wealthiest individuals in America, lining their own pockets with outrageous salaries, unbelievable commissions, and massive bonuses that most Americans can only dream about. And they do it in a stock market where the average investor is still struggling to recoup even a fraction of the losses sustained in the market meltdown of 2000.

They do it by selling stock. It doesn't even matter whether that stock is real or imagined, just as long as the shares keep flowing. It doesn't matter whether the shares are delivered or not, just as long as the "customer" keeps paying the commissions for the shares that flow in a neverending stream from one hand to another. Counterfeit or real, as long as the brokerage firms collect their fees, they'll continue to buy and sell, sell and buy.

As I said previously, you are being hypocritical if you think that the wording of the protected version of this page is "neutral". It is showing the true bias or lack of knowledge of the author. This biased diatribe hurts the small investor, our economy and, by money laundering, our national security. Be informed before taking a stand on neutrality. Learn and advocate the facts. Otherwise you are definitely become part of the problem. Riverrunrun 02:05, 30 January 2006 (UTC)