Re: Mr Byrne: "one thousand or more companies ... destroyed" [by "illegal technique", presumably NSS]
All right, tbs, I will never ask again for anyone to name a company "destroyed by naked shorting". Every time someone asks, the same old baloney examples are thrown out. They've all been discussed (and amply discredited) here before. So I'll just be content to point out that it isn't true (companies destroyed by naked shorting) without asking for the baloney examples again. If two you "know of" are Eagletech and Sedona, the fact is that you don't know of any.
"Blame the investor. The investor should have gone through the filing
as soon as it was put out and found that, geez, this financing looks
questionable!!!" You bet he should have, buster--exactly. If he can't do that, there are plenty of other people who do and then publish their findings, and he should pay attention to what they're saying instead of hitting the message boards to try to discredit them in what he imagines to be a "game". If he doesn't have at least that much honesty and intelligence, then he'd darn well better stick with index funds and quit with the victimology.
"The investors were not in the room when that financing deal was signed. Stop blaming them." No, the investors weren't in the room. The officers appointed by their boards of directors were, and it was up to them to protect the investors at least to the point of not getting into toxic financing, so blame them. And while you're at it, blame the investors, too, who are so artful, cutesy, and dismissive of critics on the message boards, but who then expect to be able to live in their padded Romper Rooms and have others--the people they insult daily on the message boards, I guess--looking out for their interests behind all those closed doors.
We know for a fact what happened to Sedona and Eagletech." Your confused reasoning and failure to accept the blame for your bad judgment show that you have no idea in the world what happened at Sedona and Eagletech. You wander through the forest, turning over dead animals with a stick, and when you invariably see maggots on them, you announce that it is the maggots that are killing the animals. (No doubt you think the maggots are exploiting loopholes in the ecology to do so.)
Bad business plan. Stupid CEO. Stupid investors. Good criminals. That about sum it up?" Yes, except for the missing "dishonest CEO" (at least as common as the stupid ones) and the invented "good criminals". Nobody here calls criminals good. You just repeat that claim, (which often requires false allegations of criminality) in order to maintain your undeserved feeling of moral superiority. The get-rich-quick schemes of the Eagletechs and Universal Expresses are bogus, and if you "do business" with them, you are as much to blame as the greedy guy who buys a stolen watch from a fence only to scream "foul" when he finds out that it's not really a Rolex. There are plenty of people around this message board right now who own, or are buying, OSTK because a loopy C. E. O. feeds them dreams of riches while wasting his time and their resources chasing will-o'-the-wisps. I'm sure when he's done buying back $1 shares for $10 in order to "help the share price", you professional victims will be explaining how the company failed to thrive only because it couldn't obtain financing on reasonable terms due to all the "naked shorting". Wail away. Few will be listening then.