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  • flankenking flankenking Jan 29, 2013 11:37 AM Flag

    The number of 2 million publshed shortselling only the PEAK OF THE ICEBERG

    because naked shortselling is not a part of the publshed shortselling numbers, because nobody reporting about criminal activities. But after my estimates complete shortselling is between 5 and 10 million share, if you add the two million published legal shareselling and the bigger number of net legal naked shortselling, which is not part of the published numbers.

    Sentiment: Strong Buy

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    • GO PANIC FIRST!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

      Sentiment: Strong Buy

    • And complete shortselling could be now over 10 million of 21 million outstanding shares: 2 million legal naked shortselling with share-lending and maybe more than 8 million naked shortselling, which is not part of the published shortselling-numbers.

      Sentiment: Strong Buy

    • We want to let the broker-dealers know that we are watching their behavior with Arena shares and they are violating the law when they allow persistent Fails-To-Deliver. This should deter some of this naked short selling activity. We hope that by making them follow the law, the cost of being short will be properly reflected in the market place. The manipulators appear to be protecting a healthy short squeeze from ensuing.
      We also know these improper Wall Street practices have been around for many decades to create artificial price movements having nothing to do with a fundamental underlying basis. Wall Street shenanigans fleece billions of dollars from investors as reported by Bloomberg's report and investigation into the 2008 financial crisis. The motive is always money, and the participants are the short hedge funds, market makers, individuals, and prime brokers who make substantial profits while fleecing the small American investor. Congress and the SEC need to strictly enforce Reg SHO, Rule 10b-21, Rule 203(b)(3)(iii) of Regulation SHO, increase the penalty for violations, and increase regulation for this illegal activity. According to the SEC, these rules were adopted to signal zero tolerance for abusive naked short selling, but in practice little to nothing has been done to enforce these rules since, at the broker and market maker level.

      Source: What Investors Should Know And Do To Make Sure The Short Interest In Arena's Stock Is Playing By The Rules on Motley Fool (My advice: Read the complete article!)

      Sentiment: Strong Buy

    • Peregrine Financial ex-CEO expects life of fraud to end in jail

      1/30/2013COMMENTS (0)

      By Tom Polansek

      CHICAGO, Jan 30 (Reuters) - Russell Wasendorf Sr., who admitted looting more than $100 million from futures broker Peregrine Financial Group, expects to die behind bars even if a judge ignores prosecutors and imposes a lenient sentence at a hearing on Thursday.

      "He has been ready, since he confessed, to get to where he is going to spend the rest of his life," said pastor Linda Livingston of Ascension Lutheran Church, one of Wasendorf's few regular visitors.

      Prosecutors say the amount Wasendorf stole was closer to $215 million and have asked a federal court in Iowa to sentence the 64-year-old to 50 years in prison for the scam which affected tens of thousands of customers.

      After spending the last six months in a county jail and losing nearly 30 pounds from his already-trim frame, Wasendorf believes that even if he does not receive the maximum sentence, he will still end up dying in jail, Livingston told Reuters.

      Sentiment: Strong Buy

    • Reuters | Posted: 01/31/2013 1:19 pm EST | Updated: 01/31/2013 3:52 pm EST

      By P.J. Huffstutter

      CEDAR RAPIDS, Iowa, Jan 31 (Reuters) - Russell Wasendorf Sr., who admitted looting more than $100 million from broker Peregrine Financial Group in a scheme that shook confidence in the U.S. futures industry, was sentenced to 50 years behind bars on Thursday.

      Wasendorf was ordered to pay $215.5 million in restitution.

      Supporters of the disgraced 64-year-old executive had asked Chief Judge Linda Reade of the U.S. District Court of the Northern District of Iowa for leniency, arguing that Wasendorf is in frail health and that he had helped others even in the midst of his 20-year fraud.

      Sentiment: Strong Buy

    • Shortsquezze could be and/or start today.

      Sentiment: Strong Buy

    • Local Federal regulator alleges Baltimore man conducted 'naked' short selling worth billions of dollars

      April 16, 2012|By Hanah Cho, The Baltimore Sun

      Federal securities regulators allege an executive at Eastern Savings Bank in Hunt Valley participated in a fraudulent short-selling scheme involving his personal brokerage firm, according to a complaint filed Monday.

      In an administrative case, the U.S. Securities and Exchange Commission said that Chicago-based optionsXpress, four of the firm's officials and Jonathan I. Feldman, a senior vice president at Eastern Savings, violated SEC rules by engaging in a plan to profit off a series of "sham" transactions designed to give the impression that the firm had bought certain securities.

      Sentiment: Strong Buy

    • Schwab Subsidiary OptionsXpress Accused of Naked Short Selling Scam by SEC

      The Securities and Exchange Commission is accusing optionsXpress, a Charles Schwab Corp. (SCHW) subsidiary, of being involved in a naked short selling scheme between 2008 and 2010. The SEC filed an administrative order against the online futures and options brokerage and clearing agency, its CEO, and a client while settling with three other company officials. OptionsXpress didn’t come under Schwab’s ownership until 18 months after the alleged securities fraud occurred.

      Sentiment: Strong Buy

    • had worked earlier for the criminal brokers and ignore the criminal acitivites - but I hope, that will change and criminal brokers will put in prison in the not-too-distant future and criminals inside the SEC, too.

      Sentiment: Strong Buy

    • But not any broker take a look at this existing rules, because criminal naked shortsellers are the best clients and produce big provisions.

      Sentiment: Strong Buy

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