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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation? -- Ignore unavailable to you. Want to Upgrade?

To: Clase Azul who wrote (437)	11/3/2005 4:02:23 PM
From: rrufff	Read Replies (1) \| Respond to of 5034

Viewer - if you want to have a debate, please post with something that resembles grammatically correct English. I don't have the time to try to figure out what you said. It seems that you basically want to blame everything on scammy companies and that shorts never do wrong. You get all upset when shorting is attacked. That's not a debate and if you want to just post that, go back to the thread where shorts used to manipulate and do your stuff. I'm not afraid of any investigation and it is happening. Live with it. You're on the wrong side. The MM's and the hedgies have made their money and now the call is out for an even playing field. You are an anachronism. You know what that means? You remind of me all the MM's that were bitching and moaning when they went decimal. I bet a lot of your friends were going nutso then. They said they couldn't make money anymore, there would be no liquidity. Same old pissing and moaning. I also don't have the time to fall for your method of attacking anyone's background, who happens to write about naked shorting and related scamming. I'm more concerned with substance. The shorties, the hedgies and the MM's, if you look into their backgrounds, are not Nobel lauriets. There is as much scamming by those who short, as on the long side, at least proportionately. You, I believe, were one of the biggest defenders of Anthony and his activities. If I'm wrong, I'm sorry, but I believe you were. Now you are a MM defender and seem to want no restrictions on naked shorting. If you really think that your buddies are angels, just grab a newspaper, look at REFCO, look at some of the stuff that the Truthseeker posts about hedge funds, read the a@P transcripts, etc. You don't post about hedge funds and their role in naked shorting. Read up about "desking," how they operate through overseas "brokers," etc. Do some homework before you spout off. Again, if you want to have a debate, I welcome it and I ask others to join in. But your message, as I see it, through the grammatically and moronically expressed phrases is this: People who buy penny or microcaps are stupid and all the companies are scams. They deserve what they get. If you gave them more information, they wouldn't know what to do with it. Shorts are wonderful people, out to protect society. Market makers short solely to provide liquidity in the market and to make a few pennies. Shoring and naked shorting should be virtually unlimited because every one of these stocks are scams. ROFLMAO

To: Clase Azul who wrote (437)	11/3/2005 4:17:32 PM
From: rrufff	Read Replies (1) \| Respond to of 5034

Courtesy of TS - here is more hedge fund manipulation. Although this does not relate to our topic, it shows that where there is an opportunity to scam, hedge funds will take it and try to cover their tracks. They need to be more open to scrutiny. Let's see how deeply the naked short overseas action is. Those who fear investigations have something to hide. HEDGE CLIPPED $100M by RODDY BOYD November 3, 2005 -- Millennium Partners LP, one of Wall Street's most successful hedge funds, is negotiating a massive $100 million settlement with New York Attorney General Eliot Spitzer and the Securities and Exchange Commission over its role in mutual fund timing scandals. The fine would be the largest ever levied against a hedge fund. Fortune.com, which reported the story yesterday, also said the $5 billion fund faced possible securities fraud charges. An indictment against Millennium, as opposed to individual employees, would almost certainly lead to its closing, as banks, clients and brokers would race to pull their credit and get their investments back. Millennium, run by legendary trader Israel Englander, was at the center of the mutual fund timing scandal when it broke in 2003 and had one of its star traders, Steven Markovitz, plead guilty to securities fraud. At the time, Englander and other fund officials assured regulators Markovitz, who is awaiting sentencing and faces up to four years in prison, was the only trader who had used this strategy. Market timing occurs when a client's broker enters "buy" and "sell" orders for mutual fund shares after the 4 p.m. market close, but at the previous day's prices to take advantage of the day's market moves. It now appears Markovitz was not a rogue trader and had traded with the full knowledge and approval of Englander, who was said to have authorized about $1 billion of Millennium's capital be used in the strategy, according to investigators and others familiar with the matter. The fund's traders had more than 1,000 accounts at 40 brokerage firms dedicated to mutual fund timing, according to these sources. More shockingly, Millennium's employees had bought variable annuities, according to Fortune.com, to gain access to the annuities' mutual fund accounts for timing purposes. Allegedly, Englander and up to 25 other fund employees used fake and misleading addresses and names to set up these accounts for fund-timing purposes. This March, the New Jersey Attorney General's office fined Merrill Lynch $10 million for failing to supervise its brokers, who sold Millennium these variable annuities. Regardless of what happens, Englander can likely afford to settle most any fine levied against his firm. With a net worth said to be near $1 billion, and earnings last year of over $200 million, according to Institutional Investor magazine, Englander has long been in the top 10 in hedge fund winnings. A Spitzer spokesman declined comment, but an individual familiar with the situation confirmed talks are under way. Millennium's lawyers at Schulte Roth & Zabel referred a call to a fund spokesman who declined comment. roddy.boyd@nypost.com