To: rrufff who wrote (3443) 5/11/2008 12:12:05 PM
From: rrufff 1 Recommendation of 3446
For those who want just the beginning or an overview, take a look at this presentation.
deepcapturethemovie.com
Here are some of the highlights I liked, but again, if you can, listen on your own if you are interested in these issues, and then pass these links on elsewhere, to educate.
SEC first stated that Reg Sho not needed. It was argued by industry defenders that the issue of fails to deliver were only in the minds of a few “whacky” CEO’s upset that their stock was down. When Reg Sho enacted, the position was contradictory, saying, in essence that this problem that they said didn’t exist, now, needed a Grandfather Clause, to prevent volatility, short squeezes and to protect the (illegal) trading strategies of those who have manipulated the system.
Ex-clearing is a big part of the problem (trades outside the normal system, e.g., offshore, within multi-national firms).
MM’s abuse of exception, option MM’s.
Studies by researchers show connection between spikes in activity by hedge funds shorting stocks and actions by now disgraced Milberg Weiss filing of class action and articles written by negative journalists, so that a claim of “front running” is made by Byrne. Shows an hourly time card at research firm that shows the name of MW, despite the fact that lawyers can not solicit, i.e., “ambulance chase.”
Recording of NY Post Business Editor Dan Colarusso saying to Herb Greenberg and other reporters, “When I think of Patrick Byrne. . . . We have barrels of ink and stacks of money and all the resources in the world at our disposal, legal and, indeed our media, to crush him.”
Karen Richardson Dave Kansas, an editor of the WSJ, sent her to Byrne’s hotel “in a leotard” and Byrne refused to cooperate, looking for his medical record. She went to his hospital, he was sick, had cancer, and she lied trying to get his medical records. The hospital wrote, “She said . . . . she has been working with you on this story and has several ways to reach you. She gave me your office number and said your assistant was Pat. She also gave me your cell phone number. The implication being that this was a story/profile about you that was being done with your consent and cooperation.” Byrne says, “This is a felony.”
The regulators leave and go to work for the financial industry. Relationships are telling. Hedge funds, manipulative trading, class action attorneys, affiliated bashers, affiliated “journalists.”
It’s all in there and must reading, but, again, make your own decisions and I stress weigh arguments on both sides of these very complicated issues.
Above all, be very wary, when you see name-calling and personal attacks. This tells you the arguments are weak. |
