Post by sandi66 on Oct 14, 2007 22:25:15 GMT -5
Repost from Ihub, found it very interesting.
Posted by: thelimeyone
In reply to: None Date:10/14/2007 10:54:40 AM
Post #of 65006
Overview:
Dropping the Grandfather clause is a step in the right direction. MM's (and I am broadening the definition here to mean Market Manipulators) comprising of Market Makers, Broker/Dealers, Hedge Funds etc, could previously Naked Short ad infinitum, the object being: A)make a ton of money out of nothing(Phantom Shares) B)drive the Co. into the ground & when it goes belly up, the Manipulators never have to cover. To assist in this process the SEC has typically announced an investigation into the targeted Co, inferring wrongdoing by the Co., final nail in the coffin,deregister the Co.(as in Eagletech case who had no money to comply to S/Oxley-shares worthless & PIPE toxic financing).
NSS & the subsequent FTD problem will continue for a while at least as at the end of the 13 day period MM's will operate on a system of IOU's amongst themselves like a giant Ponzi scheme, which it is. However some things that will greatly assist us is:
1) In the case of GBDX the Co. is going private(i.e.someone with lots of the folding stuff steps into the picture). this is the element missing in other targeted Co's & will be our saviour. only certificate backed shares will be paid for, so no matter what kind of share we have thats the Brokers problem not ours.
2) Coming to trial very shortly is the OSTK Vs MM's which is now moving into Discovery process. This is what the MM's are really scared about, because it will bring all the criminal activities by Wall st out into the open where it can no longer be denied or covered up.
3) A 2nd trial OSTK Vs Gradient will expose also the assistance via negative reports by Gradient/Hedge Funds, TheStreet/Jim Cramer/Herb Greenberg/Carol Remond et al.
4) A RICO trial by Eagletech, involving all 5 NY Mafia families & a bunch of top names in Wall St. This one as a result of FOIA due to the discovery process in an earlier RICO trial(still to hit the public airwaves)which came about due to the FBI's sting operation called "Operation Uptick".
5) In all the above trials the SEC is heavily indicated, it can be proven that the SEC knowingly knew about the criminal activities & took no action or assisted in the criminal process.Hence just lately there has been a spate of resignations at the highest levels of the SEC. The main reason the Grandfather rule is being rescinded is due to the upcoming publicity. I might add that the process of introducing the Grandfather rule was an illegal act & so to was the rule itself which contradicts the SEC mandate as stated in the 1934 S&E Act which the SEC are duty bound to enforce.
Ultimately the small Investor will benefit thanks largely due to the efforts of Dr.Byrne, Rodney Young, Gary Aguirre, Dave Patch & others, true American heroes all. tlo.
Posted by: thelimeyone
In reply to: None Date:10/14/2007 10:54:40 AM
Post #of 65006
Overview:
Dropping the Grandfather clause is a step in the right direction. MM's (and I am broadening the definition here to mean Market Manipulators) comprising of Market Makers, Broker/Dealers, Hedge Funds etc, could previously Naked Short ad infinitum, the object being: A)make a ton of money out of nothing(Phantom Shares) B)drive the Co. into the ground & when it goes belly up, the Manipulators never have to cover. To assist in this process the SEC has typically announced an investigation into the targeted Co, inferring wrongdoing by the Co., final nail in the coffin,deregister the Co.(as in Eagletech case who had no money to comply to S/Oxley-shares worthless & PIPE toxic financing).
NSS & the subsequent FTD problem will continue for a while at least as at the end of the 13 day period MM's will operate on a system of IOU's amongst themselves like a giant Ponzi scheme, which it is. However some things that will greatly assist us is:
1) In the case of GBDX the Co. is going private(i.e.someone with lots of the folding stuff steps into the picture). this is the element missing in other targeted Co's & will be our saviour. only certificate backed shares will be paid for, so no matter what kind of share we have thats the Brokers problem not ours.
2) Coming to trial very shortly is the OSTK Vs MM's which is now moving into Discovery process. This is what the MM's are really scared about, because it will bring all the criminal activities by Wall st out into the open where it can no longer be denied or covered up.
3) A 2nd trial OSTK Vs Gradient will expose also the assistance via negative reports by Gradient/Hedge Funds, TheStreet/Jim Cramer/Herb Greenberg/Carol Remond et al.
4) A RICO trial by Eagletech, involving all 5 NY Mafia families & a bunch of top names in Wall St. This one as a result of FOIA due to the discovery process in an earlier RICO trial(still to hit the public airwaves)which came about due to the FBI's sting operation called "Operation Uptick".
5) In all the above trials the SEC is heavily indicated, it can be proven that the SEC knowingly knew about the criminal activities & took no action or assisted in the criminal process.Hence just lately there has been a spate of resignations at the highest levels of the SEC. The main reason the Grandfather rule is being rescinded is due to the upcoming publicity. I might add that the process of introducing the Grandfather rule was an illegal act & so to was the rule itself which contradicts the SEC mandate as stated in the 1934 S&E Act which the SEC are duty bound to enforce.
Ultimately the small Investor will benefit thanks largely due to the efforts of Dr.Byrne, Rodney Young, Gary Aguirre, Dave Patch & others, true American heroes all. tlo.
