The Financial Terrorists of Wall Street - A Case In Point

[Oilwellian]

Run time: 02:42 https://www.youtube.com/watch?v=t5put3e8MQo   Posted on YouTube: March 11, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: March 11, 2009 By DU Member: Oilwellian Views on DU: 960

 
Naked shortsellers are raiding corporations and their investors dry.
This video exposes how their crimes are becoming a threat to our
national security.

[midnight]

1. These banksters have had no one question their motives

except I think maybe Elliot Spitzer, but his private life became front and center, and whatever banksters he was honing in on, got away.

[Oilwellian]

2. Actually...

Spitzer was covering for them. He was Jim Cramer's college roommate and pretty much left the naked shortsellers alone.

[jimshoes]

3. I don't believe in vigilante justice

but there are some that do. People are figuring out who's been stealing their money. Again I do not condone violence, but if people don't start to see some justice, there's really no telling what may happen.

[valerief]

8. I surely won't object. Although, as you note, I don't condone violence.

But if it's the only way to...then...who am I to object?

[TheEuclideanOne]

4. I with there was a bit more time spent on how Phantom stocks can exist.

I did go to the DeepCapture.com site to find out more about what it was, but I really don't want to read the whole explanation. It would be nice to be able to learn what naked shortsellers are in a "Cliffnotes version", just one with a little bit more details than the video offered. The video was very well done, and quite infuriating, but I wish it explained exactly how phantom stocks could flood a market. After all, if nobody owns them, how do they trade them?

[Oilwellian]

10. There are loopholes in the stock settlement system that allow this to happen

There are 4 very good articles that explain it here.

You cannot explain naked shortselling in a cliffnotes version. :hi:

[avaistheone1]

5. Well done and powerful. You should expand on the info in this video.

It is insane how this kind of gambling can take the country and the global economy down.

The problem is that even today nothing is being done to stop it.

[Titonwan]

6. Wow

That was one impressive short. Things start to go south, they better consider buying one of those armored jobs instead of that pimpmobile. And I don't need to be informed you can armor that pimpmobile.

[barbtries]

7. some hedge fund managers

ARE our enemies.

[valerief]

9. kick

:kick:

[Oilwellian]

11. Looks like the SEC is moving on reinstating the uptick rule

SEC head says 'uptick rule' may be reinstated

WASHINGTON – Dramatic changes in the global economy may merit restoring a federal rule aimed at preventing a massive plunge in a stock price caused by a rush of short sellers, the head of the Securities and Exchange Commission said Wednesday.

SEC Chairman Mary Schapiro said "hopefully" by next month the agency will open for public comment a proposal to reinstate the so-called uptick rule.

On another crisis-related issue — an industry push to scrap the accounting rule that forces banks to value assets at current prices — Schapiro said the SEC wants revisions that would continue to provide the transparency investors need without excessively hurting banks.

The uptick rule, which the SEC eliminated in 2007, requires short sellers — those who try to profit from a stock's decline by selling borrowed shares — to sell at a price above a stock's most recent trading price.

"The world has changed rather dramatically in the past year," Schapiro told a House Appropriations subcommittee. "Hopefully we'll get our proposal out in April."

The SEC could reinstate the rule at some time after the public comment period. Schapiro said the SEC also will consider "other alternatives" related to short-selling, which she declined to specify.

http://news.yahoo.com/s/ap/20090311/ap_on_bi_ge/sec_uptick_rule;_ylt=Asb70DgSbpkrEek_Hlftjc2yBhIF

I think naked shortselling has been a huge contributor to this mess we're in. Now the SEC is even admitting it.