Free Republic

There are 20+ million readers of FR. Most everyone of them are among the most intelligent Americans that exist today. This is a 1-hour presentation about a scandal that dwarfs Enron, a scandal that should be as important in our thinking as the War on Terror and in fact interplays with WOT. Once America has an understanding of this scandal, the revolution that ensues will change American markets and politics as severely as the Great Depression transformed American society of the 1930s and 1940s. The revolution this scandal will generate could go in any direction. It is the duty of...

StockGate: Is The Naked Short Sales Bubble Now Big Enough To Threaten Wall Street? October 27, 2005 (FinancialWire) According to Financial Times, the $10.590,379,000 “securities sold, not yet purchased” line item in the Refco (NYSE: RFX) bankruptcy balance sheet is not only naked short selling, it is under intense investigation by authorities. The article is at http://www.efinancialnews.com/index.cfm?page=home&pdigest=18500000000074245& uid=5405-7710-922621-810209 FT says that the firm’s IPO underwriters Goldman Sachs (NYSE: GS) and Credit Suisse First Boston (NYSE: CSR) both have investigators looking into the illegal but allegedly widely practiced manipulative practice among essentially unregulated hedge funds and other financial institutions that now...

It's been over a year since the SEC approved Regulation SHO, designed to supposedly alleviate the illegal prectice of naked short selling, in which billions of shares of counterfeit stock are sold short, or borrowed, but never delivered to their rightful owners. As this fraud has grown exponentially, millions of stockholders who have bought stock in companies have discovered that the stock that they purchased has never been delivered to their accounts. Time after time, investors have requested their stock certificates, only to be told by their brokers that they can't deliver them.....because they never bought them in the first...

After over a year of promises, postponements, and delays, Dateline finally confirmed today that they will air their report on the stock market scandal on Sunday, April 10th, at 7 pm ET. The segment, dealing with the scandal dubbed "Stockgate", has long been anticipated by advocates pushing for reform in the stock market, and was first confirmed by The Faulking Truth last June. This is an excerpt from that article: "It's been called the biggest financial scandal in the history of the world, with incurred losses estimated by some experts at well over $1 trillion dollars. It's a scandal that...

Last week, when I wrote about naked short sellers and Regulation SHO, I suggested none too subtly that the new rules seem to deal pretty lightly with any bad guys operating outside the law. If the Securities and Exchange Commission is acknowledging a problem, as it seems to be, then Reg SHO seems like a pretty weak tool for controlling it. But that was last week's subject. Having gotten to that point, I was left wondering how extensive the problem really is. As I said then, I'm deeply skeptical of some conspiracy theories that suggest that short selling is not...

From the Overstock Message Board - 3/13/05 Dear Colleagues, The issue of “naked shorting” seems to be becoming a news item, and is even (perhaps) a scandal in the making: I have been called by several publications in the last week to discuss the issue, and there is word of a major exposé on a network news program to run soon. This is especially topical, given the issue of Social Security private accounts. As is known by those who have been regular readers of this board, my involvement with the issue is that of a concerned citizen. However, I figured...