Why are you defending Wall Street so vigorously? That small segment of the Worlds population just made 30Billion (thatís 30 billion in bonus money this year) and that does not include their high weekly paychecks. They can afford to defend their honor with lawyers and espouse their honesty with print and television influence till the cows come home. If some greedy Wall Streeter is breaking the law to turn a 30B bonus into a 35B one next year they deserve all that is coming to them and then some.
Scipio you donít work for Wall Street you are not a financial writer or a hedge fund manager. So why do you defend them so much and attack Byrne as much as you do? The markets are not transparent and there are well documented cases of Wall Street manipulation that go unpunished.
Do you like it when the NASD SEC investigates Citigroup or Morgan and fines them a token amount for breaking a massive amount of securities regulations never admitting guilt?
Here is an example of one where NASD fined Morgan.
ďexecuted thousands of short sales transactions without ensuring that the firm could deliver or arrange to borrow the securities by the settlement date;Ē http://www.nasd.com/PressRoom/NewsReleases/2006NewsReleases/NASDW_017308
Now Scipio one thing about you and the people like you is you always talk about Wall Street manipulation; but itís always pump and dump manipulation. There is no question that the P-D exists, but so does its opposite the Short and Distort. No one ever wants to talk about the S-D in fact some deny that it even exists! Fails exist S-D schemes exist naked shorting exists downwards manipulation exists whether you choose to accept it or not.
I am ďjohn doeĒ I live paycheck to paycheck I pay my taxes and I donate when I can and sometimes when I canít. I am law-abiding and I try to be as honorable as I can be.
I also invest when I can; in the hopes that I can get a better return than what the banks are giving me. I also invest so that I donít have to live paycheck to paycheck with my minimal standard of living wage increases that I get from working for the man.
I have seen Wall Street manipulation and greed first hand and I am not as dim as Wall Street thinks I am.
I have seen the chain of events that decimate stocks in the same manner time and time again.
Sequence of events happens to companies every single day
1- Company goes on SHO
2- Volume increases dramatically- sometimes more shares than are in the float trade in a single day
3- Incredibly the unusual volume is all sellside which provides massive downward pressure
4- The price drops precipitously
5- The media writes a bunch of negative articles about the company but never mentions SHO or fails or Bear Raids
6- Every single day of the year there is a new company on SHO that goes from T+3 to T+4 and T+13 to T+14
7- When most companies come off of SHO after a few days they have lost a LARGE amount of their market caps
8- When a company checks in at the SHO motel they check out losing 50% 60% 70% percent of their value in just a short period
This happens almost every single day. A company goes on REG-SHO and gets destroyed and the media has to write a story to explain the destruction but it never uses the most obvious reason BEAR RAID! There seems to be a moratorium on using the words bear raid and fails FTD and REG-SHO.
I have noticed that most in the media do not use facts when they provide a negative story about a REG-SHO inhabitant. They never talk about fails or the fact that more shares than the float traded or the enormous increase in sellside volume. It is so blatantly obvious that if I can put it together I would have thought that all of these smart investigative journalists could have figured it out.
This has gone from conspiracy theory to fact. They are so brazen that they do not even try to hide what they are doing or perhaps doing it in plain sight is the ultimate way to fool the masses.
If they can do that here they can do it anywhere I truly believe No stock is safe if they decide to take it down. I received an education here and it was not free. . It seems the media is using a dull razor instead of Occamís.