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Pastimes : Investment Chat Board Lawsuits -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (7663)3/28/2005 10:52:59 AM
From: tyc:>  Read Replies (2) | Respond to of 12465
 
Those comments about the "stock borrow" program sure do not convince me. When borrowed stock is shorted, two people now own a share. Which one has the treasury issued share ?

The fact that only one of the brokers can lend the share again is immaterial.

Moreover, the shorter promises the buyer all the benefits that the treasury-issued shares afford. Isn't this proof that an additional share has been created by the shorter... that we are now talking not only about treasury issued shares but additionally about short-issued shares as well ?

Note again that in this situation one broker can lend these shares yet again.

Please correct me.



To: StockDung who wrote (7663)3/28/2005 9:12:42 PM
From: rrufff  Respond to of 12465
 
DTCC avoids the issue of overseas arbitrage and uses the MM "excuse" of pretending to make orderly markets for much of naked short selling.

One thing they do have right. Litigation is a waste of time. The issue is too complex and obtuse for courts.

The way to resolve all the speculation and denial is to have a full scale Congressional investigation.


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