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Post by soonerlew on Feb 18, 2008 18:19:12 GMT -5
Thanks mgl.......................
By: seriousblack0 18 Feb 2008, 12:11 PM EST Msg. 666344 of 666359 Jump to msg. # By: greedy_malone 25 Sep 2006, 11:10 AM EDT Msg. 384463 of 666158 Jump to msg. # I don't have all the answers
But in case you guys didn't know, naked shorting a stock does not pay. A
FTD is a terminal hang. You can't collect on it. There are big companies
and powerful people out there who pay for the service of the naked shorts
to destroy competitors or to gain control of them for the lowest possible
price.
And we are not allowed to trade in the stocks we are working. Our brokerage
accounts are monitored through the network. I guess somebody could go
outside fo that and try to conceala brokerage account but then that would
mean we don't have faith in ourselves. The shorts never lose why bet
against them? Well up to now it's been that way.
The current CMKX situation has gone well beyond any former fight I've seen. - - - - -
By: greedy_malone 18 Feb 2008, 12:17 PM EST Msg. 666354 of 666358 (This msg. is a reply to 666344 by seriousblack0.) Jump to msg. # seriousblack
No problems, my boss said all we have to do is stall until Maheu dies. We've not settled and we won't. Haven't agreed to anything because Maheu's days are numbered and there is nobody else who can force us to do anything. My boss laughed un Maheu's face when he hobbled into the meeting room and demanded we pay up. The boss looked him in the I and said "Sue me old man, we'll have this tied up long after you're gone."
We win!!!!!!!!!!!
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Post by soonerlew on Feb 18, 2008 18:19:35 GMT -5
By: greedy_malone 18 Feb 2008, 12:20 PM EST Msg. 666366 of 666368 Jump to msg. # every month without a settlement means
Another bonus for me and burrito!!!!!!!!!!!
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Post by soonerlew on Feb 18, 2008 18:20:06 GMT -5
By: gusjarvis 18 Feb 2008, 02:37 PM EST Msg. 666501 of 666502 Jump to msg. #
JUST COMBINE THIS WITH BHOLLENEGG'S CLAIMS POSTS and it is all you need to know:
these words by the sec say it all, just what I heard off boards from a good source, most of all the naked shorts were covered by the end of 06. Other stuff had to happen after that as we see in the world right now, the naked short settlement has been put off despite being done long long ago. Now that the other stuff is getting taken care of we are actually close to disclosure in whatever way they planned on doing it. Dr. byrne is ready to talk, oil is moving from the dollar crippling the federal reserve, this says the federal reserve got together with the sec to cover aged fails, we were covered during the cert pull, cmkx was all naked, the share raises were raised to accommodate the short plus donahues and the retired, and we have the best land on earth held by our friends as proven now to be planned thanks to great posts by chris. It is getting dam good and this will be announced to the public very very soon it appears, and this is right from the sec:
I can't leave the topic of "fails" without touching on one more highly important issue currently facing the Commission. This goes back to the meaning of "fail" as a noun. The SEC has recently been involved in a very proactive (some might even say prudential) exercise with respect to the issue of fails in the OTC derivatives markets. In response to reports of widespread documentation problems in those markets, the SEC has joined forces with other regulators, most notably the Federal Reserve Board and Britain's FSA, to encourage OTC market participants to clean up years of incomplete and inaccurate trade documentation. The need to act was clear. From all reports, the backlog of unconfirmed trades, which essentially are fails, and the widespread and unchecked use of novations in the credit derivatives markets had crippled risk management efforts and set the stage for a massive meltdown in certain default scenarios. Given the multi-trillion dollar aggregate notional amounts of the contracts involved, it was easy to see that the OTC derivatives dealers and their counterparties had created an operational problem similar in scope to the late 1960's back-office crisis on Wall Street.
In September 2005, the Federal Reserve Board and other regulators including the SEC called together 14 major OTC derivatives dealers to address these operational issues. The focus at that time was on OTC credit derivatives. Of course, the SEC does not necessarily have jurisdiction over OTC credit derivatives, but the firms subject to SEC supervision through our Consolidated Supervised Entity program are dealers in that market, and so it was important for the SEC be involved in overseeing the cleanup process. In addition, the SEC does regulate OTC equity derivatives, which were affected by many of the same operational maladies suffered by credit derivatives.
The dealers agreed after the 2005 meeting to develop processes for reducing the operational risks associated with the documentation backlog, and established a timeline that would allow regulators to track their progress. At a follow-up meeting in early 2006, the dealers reported significant progress in cleaning up aged unconfirmed trades, and committed to future deadlines for further reductions.
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