BUD BURRELL IS PART OF A HUGE REFORM MOVEMENT WHICH BELIEVES THAT SOCIAL SOCURITY REFORm WILL HAVE TO WAIT BECAUSE OF NAKED SHORT SELLING.
I THINK BUD NEED TO BACK UP THIS STATEMENT ABOUT ELGINDY.
BUD WAS A CONSULTANT TO QUINN'S LAW FIRM. BUS HAS ALSO STATED HE WAS A MAJOR FORCE IN BRINGING ELGINDY TO JUSTICE.
bud also believes cmkx diamonds is going to bring down the whole financial system and that the Federal Reserve is going to bail out WallStreet.
IN FACT BUD BURRELL POSTED ON THIS THREAD MANY TIMES. Member 9093572
HERE IS A LIST OF BUDS STORIES AT
thesanitycheck.com
Bud Burrell - Front and Center
Author: bburrell Created: 1/10/2006 6:05 PM
Mr. Bud Burrell - Industry authority, expert, Wall Street veteran. Love him or hate him, you will always know where he stands - his no-holds-barred style and frank honesty make his blogs a must read, from one of the originals. View his landmark correspondences in The Bud Files section of this website.
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POS Elgindy Gets 135 Months in Prison, and Forfeits $1.5 Million
By bburrell on 6/19/2006 2:33 PM
Elgindy's site members better buckle up, they are in for a rough ride. I am contemplating a "Dead Pool" on this POS. Informants don't do well in Federal lock up, and with his ego and attitude, he has to be a high probability of pissing off some hardened Federal Inmate.
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The 2000-2003 "Crash" was a "Bear Raid", Period.
By bburrell on 6/16/2006 5:14 PM
Let's look at a hypothetical situation paralleling one particular high-flying technology stock of the 1990's. Create another solid answer for what happened to this stock, which was one of many similar such stories.
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What is the true total shares in the NSS/FTD category?
By bburrell on 6/15/2006 6:15 PM
Experts are citing total numbers in this space of 500 Million shares. This doesn't reconcile with the number of shares NSS/FTC in just two stocks. Is this quote based only on listed company shorts? If so, it is terribly misleading. Where does this number come from, and how was it derived?
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My "Open Letter on the Shorting Scandal", circa 2002
By bburrell on 6/11/2006 10:39 AM
Here is a piece I did early on that is simply still valid, except I now know much more about the nature of this venality, and the true expansive nature of it. Comments please.
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"The Corporation" DVD by Mark Abbott, A Commendation.
By bburrell on 6/11/2006 10:26 AM
Irrespective of Your Political Views, this is a stunning and highly informative piece worthy of the attention of ALL. It certainly gives a perspective of a probable scenario for the counterfeiting scandal.
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from my Blog on Lending
By bburrell on 5/25/2006 1:52 PM
This posting by "short seller" was on a previous blog. I thought others would find it relevant.
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Milberg Weiss - The Hits Just Keep on Coming
By bburrell on 5/24/2006 9:37 AM
A Milberg lawyer was a member of the Anthony Elgindy website for more than a year before a three way meeting between Milberg, the SEC, the FBI, and Elgindy that was held for the specific purpose of identifying companies to be targeted for securities litigation law suits. There are more ominous stories told of insider shorting/trading by Milberg lawyers ahead of their suits against target companies.
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The Firm of Milberg to Be Indicted, per CNBC
By bburrell on 5/18/2006 1:03 PM
This was just announced by Charles Gasparino, according to reliable sources.
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Securities Lending Contracts Between Prime Brokers and Major Funds Made 15 years Ago, re: Reg T, HIGH IMPORTANCE
By bburrell on 5/17/2006 11:40 AM
There are recurring rumors of contracts entered into between Prime Brokers, on the one hand, and major holders of securities, including principally retail brokers and State and Private Pension Plans, permitting the Prime brokers to borrow directly from these sources, in circumvention of Reg T prohibitions. I have not found any confirmation in the disclosure documents of the Major State Retirement systems, but there is too much persistence in this story for it to be entirely unfounded.
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Arne Alsin's Article: Brokers Face Their Worse Nightmare
By bburrell on 5/9/2006 9:32 AM
A definitive article referenced in Bob's Blog today.
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Hartman v. Moore, Supreme Court Ruling of Significance
By bburrell on 5/2/2006 1:50 PM
Last Week, the SCOTUS ruled on prosecutorial conduct, and it isn't good for the Regulators.
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Circle Group Hires O'Quinn for Naked Shorting Law Suit
By bburrell on 4/18/2006 8:01 AM
From Hedgeworld. Another Naked Shorting Case.
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Arne Alsin's Article on Fails-To-Deliver
By bburrell on 4/17/2006 11:08 AM
For those without subscriber status to TSCM.
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SEC Charges Khashoggi with Fraud
By bburrell on 4/17/2006 11:04 AM
More on previous topics, very informative. This will be a continuing story.
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Boyd article: "Short Sellers Burned by Novastar."
By bburrell on 4/16/2006 8:52 AM
Strange timing for the release of this article. I agree with the assessment, but how does Boyd NOT mention the tactics employed by the shorts to crush this trust? Our own Bob should be heard on this.
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From Court Transcript, Khashoggi and Elgindy Involved, Along with Royer
By bburrell on 4/14/2006 5:09 PM
In response to those who still question this, see the Trial Transcript below. You have to pay enough attention to read between the lines.
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$1.2 Million Paid "Anthony", last name Elgindy, by GenesisIntermedia et al for Strategic Guidance
By bburrell on 4/14/2006 8:55 AM
Read the blog link on the previous blog post. It is a PDF file, so I can't copy it for you all, but don't miss this one detail of this one.
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Oink, Oink, The "Harvest" Begins; This is the First of What We Hope will be Hundreds to the Butcher.
By bburrell on 4/13/2006 8:45 PM
Here is a squeal that echoes of an Elgindy roll. Read'em and Weep, Asturias. There should be a lot more to come. Here is more than you ever wanted to know about GenesisIntermedia. If they roll these guys' associates, they better start building prisons right now.
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SEC Issues New Guidelines for Subpoenas of Reporters
By bburrell on 4/12/2006 3:13 PM
Breath deeply everyone. This is a "Let's Split the Baby" ruling. Except the real mother is nowhere to be found.
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David Rocker to Retire from Hedge Business
By bburrell on 4/12/2006 3:05 PM
Reach your own conclusions about this. We had an old saying about this kind of "Coincidence". There is no such thing.
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Suit Against Prime Brokers for Phony Stock Borrow Charges Filed
By bburrell on 4/12/2006 2:56 PM
Let's see how PSLRA fails to defeat this filing
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The Geese Are Beginning to Be Slaughtered
By bburrell on 4/12/2006 2:52 PM
See the post below. Say Sayonara to Defined Benefit Plans.
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The Coming Sentencing of Anthony Elgindy, What he is and what he deserves.
By bburrell on 4/9/2006 7:51 AM
Elgindy is a serial criminal financial manipulator, a pathological liar and a stone sociopath. Is life in prison unreasonable?
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Criminals, Prosecutors, Financial Manipulators, and Their Incestuous Relationships.
By bburrell on 4/3/2006 8:11 PM
What happens to you if you report a professional scammer to a Government Unit who happens to be using this same dirtbag as a confidential informant? Where are the many, now almost uncountable collateral prosecutions, surrounding Sedona, Eagletech, Elgindy, et al, ad infinitum, ad nauseum? There is a clear pattern emerging that despite protestations to the contrary, the Government really doesn't want you volunteering information about financial fraud cases. What is the appropriate course of action in the set of circumstances?
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60 Minutes Does the Piece Dateline Blew.
By bburrell on 3/26/2006 6:11 PM
This evening's 60 Minutes opens Pandora's Box.
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How Have Brokers, Custodians and Some Exchanges Decided to Compete with their Clients for Investment Returns?
By bburrell on 3/20/2006 9:36 AM
Our system was built on the concept of our intermediaries being "Conflict Free" agents for the exchange of securities between parties. So how was the decision made by brokers to compete with their clients for these same clients' investment returns?
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Comprehensive and Controversial Summary of the History of Central Banking Globally
By bburrell on 3/20/2006 9:32 AM
If you want to really understand DTCC at a fundamental level as a core element of both the US and the Global Financial Banking System, listen to these three pieces, 3 1/2 hours in total. This is not a pretty story, with elements to offend all interests.
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CMKX: 465 Billion Shares in with a 2500 fax Backlog in the Owner's Group Box.
By bburrell on 3/15/2006 7:17 PM
For those who said this would never be anything, think again. And who funded UCAD, and at least one other Casavant Deal? None other than Jeffrey Thorpe.
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Vivid Proof that the Feds are Watching Elgindy Site on Silicon Investor
By bburrell on 3/15/2006 12:52 PM
Read the following entries from the sentencing Guidelines on Elgindy. He is one arrogant Schmuck. Let's hear it for life in prison everyone.
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Another Elgindy Site Member Bites the Dust
By bburrell on 3/14/2006 5:34 PM
Here is the story of Jeffrey Thorp, who was shorting PIPE deals he was an investor in. Good Riddance to bad rubbish.
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The Golden Rule of Professional Shorting: Never Short a Company Without an Inside Rat
By bburrell on 3/9/2006 8:38 AM
Six Weeks into my first job on Wall Street, a highly proficient an experienced OTC trader told me the Golden Rule of Professional Shorting: Never short a stock unless you have a rat in the Company leaking inside information. i HAVE NEVER SEEN AN EXCEPTION TO THIS.
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Global Client Elgindy Slammed by US Attorney.
By bburrell on 3/4/2006 7:35 AM
More than any reasonable person would want to know about this POS. I still don't understand why he hasn't been charged for laundering money for Al Queda and Hamas.
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Four Classic Lines from Wall Street and the Military. Light Humour in Hard Truths.
By bburrell on 3/3/2006 7:23 PM
These four memorable sayings/observations are classics, and directly applicable to each of us opposing illegal shorting. There is both humour and harsh, cynical truth in all of them. In case anyone hasn't guessed, I have a rather twised sense of humor, touched by all these observations.
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On Ideologues and Demagogues, and Keeping Everyone's Eye ON the BALL
By bburrell on 3/3/2006 1:51 PM
These are some observations on the current developments and on history many are probably not aware of.
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Are Financial Journalists Nazi's/Socialists/Communists in Drag? Remember Dan Dorfman?
By bburrell on 3/1/2006 7:50 AM
For those who didn't major in political science, the Nazi's were State Socialists, a version of Communists. The whole myth of Hitler being right wing came from the left when the deal with Stalin blew u. The only thing Hitler was to the right of was Stalin, by a micron. Our journalists have begun to adopt tactics reminiscent of those used by the Nazi's and the hard core left Communists against the opponents of illegal short selling.
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Chapman, Flanagan, and Jacobi Case Dismissed with Prejudice
By bburrell on 2/28/2006 10:47 AM
These three have dodged the bullet in their trial, after errors by prosecution in turning over evidence from one witness. Now, no Jury will ever hear the massive evidence collected in this case. The judiciary remains the most mortal enemy of right in all these cases.
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The Death of a Thousand Cuts
By bburrell on 2/23/2006 8:42 AM
We are winning this war with Naked Shorters and their Allies. The metaphor is one comparable to the old execution technique, or to guerrilla war.
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Elgindy Federal Sentencing Guidelines
By bburrell on 2/22/2006 11:11 AM
Here is a summary of why Elgindy is rightfully facing Life in Prison.
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Stockgate Report: Investrend Article on Targeting of DTCC by NASAA members for Subpoenas
By bburrell on 2/14/2006 10:10 PM
Here we go. This is where I get to say I told you so with pleasure, because it causes no one pain who doesn't deserve it. This was confirmed to me last night by a counsel for plaintiffs.
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SEC Hit Today by 25 Federal Agencies on Shorting? More Later Today and Tomorrow.
By bburrell on 2/13/2006 6:40 PM
There is an unconfirmed story from a reliable source that 25 Federal Investigator and/or agencies went to the SEC today on the Shorting issue.
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Who Caused the SEC to Enter an Amicus Brief on behalf of DTCC in the Nanopierce Case?
By bburrell on 2/5/2006 6:31 PM
The SEC told several parties, including counsel for Nanopierce, a year plus ago that they would not be filing an Amicus Brief for DTCC. What happened? We must have answers to the many questions raised by and in this filing.
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Who is RESPONSIBLE for the Current Market Counterfeiting Crisis?
By bburrell on 1/31/2006 12:48 PM
Responsibility May NOT be delegated, only authority. If the SEC has failed to do its job, the Responsibility must be placed where it belongs, in its supervising branch of the Government. What Branch is Responsible for the conduct and performance of the SEC? Our Legislature, the Congress and the Senate. The failure of the oversight of the SEC lays responsibility for this failure directly on the Shoulders of our elected representatives in Congress and the US Senate.
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Where is the US Department of Labor on Theft of ERISA and Retirement Funds.
By bburrell on 1/30/2006 6:04 PM
The US DOL is the Federal Agency with the responsibility for regulating and protecting US retirement and pension assets. Are they asleep at the Switch while the biggest fraud in World History has been perpetrated, or have they been squelched by higher authorities?
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Good Observations
By bburrell on 1/29/2006 3:45 PM
This is right on target. Securities Fraud occurs whenever an unregistered security is sold. During the 20 years I was on the Street, this was an absolute compliance red flag. Illegal Sale of an Unregistered Securty has always been forbidden, by Sections 5 and 6 of the Securities Act of 1933, and by provisions of the Securities Act of 1934.
The Criminal cause you cite from 18 USC 514 is well known, and it makes NO provisiion for exceptions to this law, and particularly no exemption for such coiunterfeiting when it is ...
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Elgindy Pleads for Leniency, Links to Global Securities
By bburrell on 1/27/2006 6:15 PM
Re: 1/26/06 - [Elgindy] Stockwatch: TSX-V's Global hears client Elgindy plead for leniency
TSX-V's Global hears client Elgindy plead for leniency
TSX Venture Exchange (:*TSX)
Thursday January 26 2006 - Street Wire
Also BC Securities Commission (:*BCSC) Street Wire Also U.S. Securities and Exchange Commission (:*SEC) Street Wire
by Lee M. Webb
Amr (Anthony) Elgindy, a notorious short seller who conducted many of his trades through Art Smolensky's Vancouver-based Global Securities Corp., says his 11-count conviction for racketeering, securities fraud and extortion should only bring a four-year prison term at most.
Mr. Elgindy was arrested in May of 2002 and convicted on 11 counts of a 32-count indictment last January following a lengthy jury trial that kicked off on Nov. 1, 2004.
Six other defendants, most of whom pled guilt ...
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Gary Weiss' Has New Book Coming Out, Ergo his Idea of a Blog, to Promote himself
By bburrell on 1/25/2006 6:28 PM
Poison Pen, Gary Weiss' book Wall Street Versus America.
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DOJ, FBI, SEC to Shut Down Raging Bull?
By bburrell on 1/23/2006 9:47 AM
From an OSTK post, Long Overdue if true.
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Potential Implications of Elective De-Registration by Companies from US Venues.
By bburrell on 1/20/2006 2:18 PM
What happens if US public companies begin to leave the US in droves for more favorable venues?
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Today's Interview on www.CFRN.net
By bburrell on 1/20/2006 9:03 AM
This hour long interview addresses many topics, and potential issues concerning transparency, treason, fails-to-deliver, Rod Young's pending SEC Commission Hearing Feb 13, and much more. I would appreciate your impressions.
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Eagletech's Rod Young's Notice of Oral Arguments Before SEC Commission!
By bburrell on 1/19/2006 11:32 AM
Wes Christian,
Please distribute this to as many interested parties as possible particularly the thirteen NASAA State Securities Regulators. I am requesting the presence of all who have the ability to attend Oral Arguments in front of the SEC commissioners on Monday February 13, 2006 at 10:00AM where I will argue Pro-Se Eagletech Communications, Inc.’s affirmative defense that the SEC has violated the Constitutional 5
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Criminal Syndicalism a Class A Federal Felony, Viewed at Insurrection and Sedition (that's Treason for the Non-Law Types)
By bburrell on 1/18/2006 7:46 PM
Corpus Juris Secundum provides for treatment of syndicates organized to support manipulation of financial assets as Insurrection and Sedition.
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James Farrell Reported to Have Plea in Chapman, Flanagan, Jacobi Case Scheduled for Jan 23.
By bburrell on 1/18/2006 1:56 PM
It was reported yesteday that James Farrell, owner and operator of Alpha Stock Transfer, has pled guilty to avoid trial. This has to be very bad news for Chapman, Flanagan and Jacobi.
More as it comes in.
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Rod Young, Eagletech CEO's Open Letter on the Shorting Scandal, a Classic
By bburrell on 1/17/2006 7:27 AM
This entry, which has been taken down from many web sites, remains a classic, from one of the most intelligent and strongly opinionated small public company leaders.
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Right Makes Might, Courtesy of Abraham Lincoln, February 27, 1860.
By bburrell on 1/16/2006 4:01 PM
Right Will Out. The adversaries supporting massive Fails-To-Deliver will themselvs FAIL.
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Chapman, Flanagan, Farrell, and Jacobi Trial Set for Jan 23 in Las Vegas
By bburrell on 1/12/2006 6:54 PM
All,
The landmark case involving the prosecutions of Dan Chapman, Sean Flanagan, James Farrell and Herb Jacobi is scheduled for Jan 23.
This prosecution is the most important criminal prosecution in the spaces adjacent to the area of our concern. These parties were taken down by the testimony of one Peter Berney, and his partner Robert Potter in their plea agreements in 2001.& ...
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GAAP - The Nail in DTCC's Coffin?
By bburrell on 1/12/2006 10:16 AM
If Short Sellers Bankrupt a target Company, they don't have a revenue recognition event, ergo, no tax is due on the gain.
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Federal Regulators Continue to Deny Scope and Implications of Counterfeiting
By bburrell on 1/10/2006 6:06 PM
Over the past three years, Federal Regulators have continued to systematically deny the evidence of the existence of massive fails to deliver from numerous sources, many of which have gotten credible exposure on numerous levels from highly informed parties that these regulators can not dismiss out of hand. The implications are many, but the most serious are those connected to a massive counterfeiting conspiracy, conducted by a very sophisticated coterie of parties who have been affiliated with one another for literally decades through varying sides of the securities industry, both buy and sell side.
I have had extensive contact with Federal authorities not part of the Federal securities administration sector of our Government, and they are becoming more concerned every day that the failure of the bureaucrats vested with the responsibility to protect investor ...
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