Post by imSINGLEruRICH on Aug 5, 2008 13:27:43 GMT -5
By: gusjarvis
05 Aug 2008, 12:55 PM EDT
Msg. 748476 of 748492
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sportsman and you didn't want history on here
aren't you happy to know that the sec and bill had all the evidence of the fraud inside cmkx in 2004, before the party. Isn't it amazing what happened after that and remember at the hearing when it took days to download our claims. And remember the jefferies letter:
By: carmelbeach
14 May 2008, 01:19 AM EDT
Msg. 8296 of 8308
(This msg. is a reply to 8293 by kal_el_1.)
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THE CMKX-JEFFRIES LETTER OF 5/6/05
Treffry mistakenly wrote:
"How about the May 10, 2005 Revocation Hearing in which the SEC "accidently" included a letter into their legal brief (that had nothing to do with revocation issue for not filing in a timely manner) a written communication from market maker Jeffries (that was ONLY Jeffries, mind you - other mm's were worse) admitting that they had a 112 billion naked short position in CMKX within a mere 6 months of trading (in-house - non-reported and not cleared stock they sold). For that matter, what was the attorney for Jeffries even admitting that their client had engaged in such illegal act?"
READ THE 'JEFFRIES LETTER' 5/6/05 HERE TO SEE HOW WRONG YOU ARE
web.archive.org/web/20050924205357/http://www.cmkxown…
EXCERPTS
"This letter responds to your request to summarize circumstances surrounding Jeffries & Company, Inc.'s failure to report certain transactions in CMKX Diamonds Inc. ("CMKX") the National Trade Reporting System (the "Tape") in 2004.
In March of 2004, two broker-dealer customers of Jeffries approached the firm requesting that transactions in CMKX be settled on an "ex-Clearing basis". These broker-dealer customers were long sellers of CMKX. The reason for their request was economics; because CMKX traded in such large volumes and at such a low price, NSCC required a significant deposit for long sellers of the security to ensure settlement. The cost of the deposit negatively impacted the broker-dealer's customers. Jeffries made a business and operational risk decision to allow a limited number of broker-dealer customers who were long sellers of CMKX to settle the trades "Ex-clearing". These Ex-Clearing transactions were monitored to ensure that the sellers promptly delivered the securities and the trades settled on a timely basis. From a settlement basis, the Ex-Clearing trades settled without incident and things went smoothly for a period of several months.
Unfortunately, unbeknownst to the firm, from a trade reporting perspective, these Ex-Clearing trades presented a problem."
Now knowing that the sec had busted this so called fraud at least as early as sept 2004, and that bill knew that, you can now go back and read the og updates and prs in a different light my friend. And go back in history and figure things out and know we are just fine and those claims that took days to download are obviously ours still or they were paid for, as the sec just letting this happen to us then giving away everything just didn't happen. And the sec and bill knowing everything, well we do have a silver platter my friend, and it that silver platter was given after the evidence was gathered for sure, that should make you feel good about the final return after all the bullchit.
Hey and just how did old jeff slowly cover his short position sportsman when there was only unregistered shares to buy, now think about that for a minute
05 Aug 2008, 12:55 PM EDT
Msg. 748476 of 748492
Jump to msg. #
sportsman and you didn't want history on here
aren't you happy to know that the sec and bill had all the evidence of the fraud inside cmkx in 2004, before the party. Isn't it amazing what happened after that and remember at the hearing when it took days to download our claims. And remember the jefferies letter:
By: carmelbeach
14 May 2008, 01:19 AM EDT
Msg. 8296 of 8308
(This msg. is a reply to 8293 by kal_el_1.)
Jump to msg. #
THE CMKX-JEFFRIES LETTER OF 5/6/05
Treffry mistakenly wrote:
"How about the May 10, 2005 Revocation Hearing in which the SEC "accidently" included a letter into their legal brief (that had nothing to do with revocation issue for not filing in a timely manner) a written communication from market maker Jeffries (that was ONLY Jeffries, mind you - other mm's were worse) admitting that they had a 112 billion naked short position in CMKX within a mere 6 months of trading (in-house - non-reported and not cleared stock they sold). For that matter, what was the attorney for Jeffries even admitting that their client had engaged in such illegal act?"
READ THE 'JEFFRIES LETTER' 5/6/05 HERE TO SEE HOW WRONG YOU ARE
web.archive.org/web/20050924205357/http://www.cmkxown…
EXCERPTS
"This letter responds to your request to summarize circumstances surrounding Jeffries & Company, Inc.'s failure to report certain transactions in CMKX Diamonds Inc. ("CMKX") the National Trade Reporting System (the "Tape") in 2004.
In March of 2004, two broker-dealer customers of Jeffries approached the firm requesting that transactions in CMKX be settled on an "ex-Clearing basis". These broker-dealer customers were long sellers of CMKX. The reason for their request was economics; because CMKX traded in such large volumes and at such a low price, NSCC required a significant deposit for long sellers of the security to ensure settlement. The cost of the deposit negatively impacted the broker-dealer's customers. Jeffries made a business and operational risk decision to allow a limited number of broker-dealer customers who were long sellers of CMKX to settle the trades "Ex-clearing". These Ex-Clearing transactions were monitored to ensure that the sellers promptly delivered the securities and the trades settled on a timely basis. From a settlement basis, the Ex-Clearing trades settled without incident and things went smoothly for a period of several months.
Unfortunately, unbeknownst to the firm, from a trade reporting perspective, these Ex-Clearing trades presented a problem."
Now knowing that the sec had busted this so called fraud at least as early as sept 2004, and that bill knew that, you can now go back and read the og updates and prs in a different light my friend. And go back in history and figure things out and know we are just fine and those claims that took days to download are obviously ours still or they were paid for, as the sec just letting this happen to us then giving away everything just didn't happen. And the sec and bill knowing everything, well we do have a silver platter my friend, and it that silver platter was given after the evidence was gathered for sure, that should make you feel good about the final return after all the bullchit.
Hey and just how did old jeff slowly cover his short position sportsman when there was only unregistered shares to buy, now think about that for a minute