Looking back, this seems particularly significant given current collapse of markets
Aguirre blew this scandal wide open in 2006, when he wrote an 18-page letter to the U.S. Congress. The letter reads: “I believe our capital markets face a growing risk from lightly or unregulated hedge funds just as our markets did in the 1920s from unregulated pools of money – then called syndicates, trusts or pools. Those unregulated pools were instrumental in delivering the 1929 Crash….There is growing evidence that today’s pools—hedge funds—have advanced and refined the practice of manipulating and cheating other market participants.”
The press, as well as blogging crusaders, spend so much time looking for penny stock scams, or Martha Stewarts, to pound their chests as if they have some bigger import that they apparently missed this massive billion dollar, perhaps trillion dollar, scam or perhaps they are part of the chain of conspirators???
Nah (as the self-styled "cyber-sleupps" say - "no such thing" as:
Naked shorting
Manipulative shorting
Paid or professional or hedge-fund associated bashers
Manipulating hedge funds creating inside info upon which to trade or front-run
MM's acting in collusion - keeping trades open for not seconds, minutes, hours, days, but weeks, months and years.
Prime brokers collecting fees for borrowing stock to short, but never providing the the stock.
etc
etc
etc
Yup - "no such thing" |
