A Real American President: Donald Trump Message Board

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Politics : A Real American President: Donald Trump

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To: Thehammer who wrote (317021)	11/18/2021 8:53:38 PM
From: didjuneau	3 Recommendations Read Replies (2) of 454309

Interestingly, even though I concede the housing crash was the big thing, I found on Byrne's website an attribution about the settlement issue also being involved in the 2008 crash - coming not from Byrne, but from Greenspan. Of course he also mentioned mortgage backed securities and my REIT was heavy in both. 8) Global Financial Crisis of 2008 "As has been explained elsewhere in this blog, Alan Greenspan attributed the crisis of 2008 to the failure of the settlement system (along with “fraud” such as Bernie Madoff and “securitization” such as Mortgage Backed Securities). That was precisely what I had understood was coming and had lost sleep over for four years." deepcapture.com This quote was also interesting: "One aspect of the flimsiness of Reg SHO was that the remedy it invoked was for a list to be published every day of publicly-listed firms experiencing settlement failures beyond a reasonable threshold. No information was to be provided to the public about who was doing the bad thing: just a list of the firms to whom the bad thing was being done, updated daily. Many noted that this would be like chum to the sharks who wanted to do more of it (as there is an incentive for them to swarm targeted firms)." So I can see how you would be unaware of what other firms were doing. It was not shared. My brokerage would allow me to select margin or non-margin with every purchase. It seemed to me though that as long as I had existing shares in margin, the whole account was considered marginable/borrowable. Things didn't make sense, so I finally bailed thinking I could buy back in at 100% non-margin, but I never did. It was only afterward that I found that this particular stock was one of the longest to remain on the Reg SHO list. I'm glad I never bought back in. Byrne said something about grandfathering being allowed, which he wanted removed. Not sure if my stock fell into that category. That's the only way I can figure was allowed to happen with what you were doing with all the custody checking and what happened to my stock constantly showing settlement irregularities. I thought the metaverse was the new Facebook name (which I heard they're accused of stealing).

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