If anything, these comments from prison have generated vast responses and for that, we should all be thankful. Dialog is much more conducive to reform than threats and personal agenda and threats.
ragingbull.quote.com
By: mclt_jing
26 Dec 2007, 01:14 PM EST
Msg. 17729 of 17734
(This msg. is a reply to 17726 by guru11.)
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Typical and Expected Elgindy Comments -
Gee Elgindy, with that attitude, I wonder why the law considers you a criminal? Maybe you have never heard of the natural laws of SUPPLY AND DEMAND governing the price of a particular item of security? SUPPLY AND DEMAND should be the real factor, the natural factor, THE ONLY FACTOR, in determining the value of any good, service and a SECURITY! Otherwise, we set up a system taylored for the benefit of criminals.
Falsely and fraudulently creating an artificial supply, in the light of a normal demand, will destroy the price of any asset, be it gold (with paper being sold instead of the physical gold - existing now with gold manipulated lower than inflation); be it money (with the electronic creation of money that does not really exist - notice the radical inflation now), and it does the EXACT SAME THING WITH STOCKS (naked shorting has destroyed the value and the very existence of viable companies).
A company with a certain asset value, good will value and potential earnings value, and any other TANGIBLE factors impacting value IN SUBSTANCE, divided by the number of shares, should give you an approximate price of the shares. That is the SUBSTANCE governing the price of the stock, not a manipulative procedure. If you add a deceptive and manipulative procedural practice to the equation, like Naked Shorting, that HAS NOTHING TO DO WITH THE ACTUAL VALUE OF THE COMPANY, then the company's real value does not govern the price of the stock, the manipulative practice does.
Why then should a company fight hard to increase its' value for its' shareholders ONLY to have all that hard work mean nothing due to a manipulative procedural practice of a few criminals. Why should a company count on doing business, hiring employees, materials, engage in contractual relations with other companies like joint ventures and acquisitions if all the hard work and real substance value of the company means nothing as to what the price will be? How can a company attract shareholders with its' hard work and innovation when some greed-driven criminal behind a computer, one-half a world away, can destroy all their efforts, the stock price, ruin the shareholder's hard-earned investment and bring an unnatural factor in to their investment decisions.
In this naked shorted stock market, business realities do not govern the stock price of a targeted naked shorted stock, but the whims of a naked shorter does - the same naked shorter who decides from one day to the next to take down a company for his own personal gain. Since free to naked short in this market, without strict controls, and with the naked shorter having unlimited amounts of naked short shares to sell, he can single-handedly destroy a company and he would have the motivation to do so to avoid ever having to cover for previously sold shorts.
What Elgindy wants to do, the same as the criminal element has repeatedly done in the past, is to hold companies hostage with, and place them under THEIR POWER to control the price (an excellent way to extort the company into giving up "protection money" so the criminals do not single-handedly destroy the share price) from the outside, with ZERO substantive influence on, or interaction with the company. Company efforts, innovations and value ultimately mean nothing and the manipulative procedure, which can be used without ceasing to destroy a stock price, will govern the markets. No thank you, I would rather see a market guided by honesty, hard work and the innovations of great men instead of the short-cutting criminals who have no skills other than being con-artists and electronically counterfeiting those stocks that they do not really own.
No, naked shorting must cease to exist, and even shorting as a whole must be STRICTLY CONTROLLED and only permitted to a very small, non-manipulative degree of the float. If a shorter can not find shares to short against, then to find shares to borrow demands the shorter pay a higher price to borrowing those shares, which deters quick and easy manipulation and also more importantly, a war of attrition to destroy the company so that the shorter never has to cover. If you can not find shares to short against, you raise the price to borrow them and physically identify them or guess what, you don't get to short on that particular stock - PERIOD!
With this degenerate attitude of this guy Elgindy, it does not surprise me as to where he calls his home right now. |
