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Author Topic: The Corruption of Our Financial Markets  (Read 2277 times)

Ted Nielsen

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The Corruption of Our Financial Markets
« on: March 31, 2007, 01:15:40 pm »

Special report from Bloomberg: Phantom Shares

The Dark Side of the Looking Glass This one is about an hour long.



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Roy J. Tellason

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Re: The Corruption of Our Financial Markets
« Reply #1 on: April 01, 2007, 02:29:08 am »

Ok,  both of these links want either flash or something else that I don't have installed here.

Can you offer us a clue?  Maybe a brief summation of some sort?
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Ted Nielsen

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Re: The Corruption of Our Financial Markets
« Reply #2 on: April 01, 2007, 03:50:36 pm »

Both links detail the crisis in naked shorting of stocks. Naked shorting is selling something you don't own. It's illegal to sell stocks you don't own however the SEC isn't doing anything about it. Here's another link: http://www.thesanitycheck.com/GettingStarted/tabid/73/Default.aspx
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Jebur27

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Re: The Corruption of Our Financial Markets
« Reply #3 on: April 01, 2007, 05:14:12 pm »

Shorting is legal. 

Shoting involves borrowing some stocks and selling them.  Then, before you are required to return the borrowed stocks, you buy them from someone else. 

Now, if the price of the stock has dropped, then the seller has made out.  If the price has risen, he's screwed. 
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ShortyDawkins

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Re: The Corruption of Our Financial Markets
« Reply #4 on: April 01, 2007, 05:36:56 pm »

Shorting is legal. 

Shoting involves borrowing some stocks and selling them.  Then, before you are required to return the borrowed stocks, you buy them from someone else. 

Now, if the price of the stock has dropped, then the seller has made out.  If the price has risen, he's screwed. 

The article refers to 'naked' short selling, or, "failure to deliver" stock.
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Ted Nielsen

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Re: The Corruption of Our Financial Markets
« Reply #5 on: April 01, 2007, 05:50:25 pm »

In some cases the number of shares sold outnumber the number of outstanding shares. The second hour of this weeks Financial Sense covers this subject.
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