There's a topic? ... disco's dead, man, not much point in having a juniors thread in this market
To sell something that does not exist is clearly fraudulent, you'd think that normal criminal statutes would cover it really, might just be a matter of getting naked shorting in front of the right judge ... selling short borrowed shares seems legitimate to me, even though it does expand the number of shares held long past the shares outstanding, as tyc points out, still somebody owes the extra shares to somebody else, and therefore is a guaranteed buyer at some point in the future, this should provide some check on the effects .... remove the borrowing though, and it's counterfeiting plain and simple, broker-dealers in the US get away with this all the time, as evidenced by that list, could easily be worse in the g.w.n. with the useless securities regulators we have here
Exchanges are set up by brokers, then run by brokers, for the benefit of brokers, this is why we'll never see in the system the sort of transparency that Vet suggests, even though it would be far superior for everybody concerned except brokers, and not at all hard to do in this electronic age
Sadly, much of the talk about naked shorting over the years has come from pumpers of pink sheets and otc-bb promotions, the argument has been made that n.s. is the only tool that works to prevent these scammers from running crapstocks to the moon ... well it's still absolutely fraudulent, and you hand over moral high ground to criminals in using this as excuse, better to lock them up after stripping them of all assets, and prohibit public trading of anything that doesn't have audited financials reported |
