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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
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To: rrufff who wrote (4759)4/16/2010 1:18:11 PM
From: scaram(o)uche3 Recommendations   of 5034
 
A horse betting against the race??...... common practice at investment banks, entrenched for years. We've talked about underwriters, shorting for their own accounts before a public offering..... "desked" shares covered with part of the offering.

The buyers knew that a horse was shorting. They were happy, as it gave them best price. The dirty horse made a bundle, part of that Wall Street trading profit. The underwritten company got the money it needed, so they were happy.

Fact is, almost everyone was happy and ALL of the insiders were, that's certain. The only losers were Joe and Betty Public, who had bought into the story, last time around.

SEC usually just asks the cheaters if they like a proposed rule, giving them the opportunity and time to move to a new scam. This is new. Kudos to SEC!
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