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To: CutePuppy
Are you following this at all (predatory naked short selling)?

Coincidentally, abuse on the CME is one mechanism that makes it possible. Chicago. Where corruption apparently knows no bounds.

24 posted on 12/31/2008 10:17:49 AM PST by the invisib1e hand (revolution is in the air.)
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To: the invisib1e hand
I have not been aware of specifically "this" document or the name, but I have followed the story of Overstock and Patrick Byrne trying to bring attention to the issue for years, and saw numerous companies either destroyed or severely crippled by the deliberate strategy. His communication style and tangential issues make it easier for his detractors to brand him a "kook".

I commented and posted several articles on the predatory shortselling and its destructive potential. Also here and here

Unfortunately, instead of paying attention to the destructive potential of the tactic and what to do about it, the discussion often goes off track into topics like "banning" or "CEO greed and mismanagement" and "deserving it" etc. This was just one of the issues that I felt Chris Cox at SEC should have been paying much closer attention to and more involved with, but he handled it abysmally. IMO, he was ineffective and seemed out of his depth in that position, and Bush's economic team from the beginning was not impressive.

Granted, to foresee an attack on the entire industry (or the system), especially vulnerable due to necessary (by its business structure) leverage and lack of liquidity to survive "run on the bank" redemptions may not have been easy, but that extraordinary massive "overinsurance" should have been a tip-off that consequences may be more than ordinary.

25 posted on 12/31/2008 12:39:57 PM PST by CutePuppy (If you don't ask the right questions you may not get the right answers)
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