Awesome! It's about time somebody called out those crooked thieves on their obvious market manipulation!
Naked short selling is illegal but Goldman Sucks is the king of naked short selling. This manipulates a stock price downward, so anybody long on that
stock gets screwed. They like to nekkid short and then the price bounces up at a time only they know about, so they can turn around and go long when
the price is in the basement, then jack it up when they cover their shorts again.
Wall Street's crimes are numerous, blatant, and so obvious you would have to be in a coma not to notice it. Goldman Sucks is the godfather of these
crooks. I hope they get nailed in court.
I'll bet the first week in December will be a good time to short GS. I wouldn't be surprised if their own employees nekkid short it!
Here is a definition of Naked Shorting from Investopedia.com:
What Does Naked Shorting Mean?
The illegal practice of short selling shares that have not been affirmatively determined to exist. Ordinarily, traders must borrow a stock, or
determine that it can be borrowed, before they sell it short. But due to various loopholes in the rules and discrepancies between paper and electronic
trading systems, naked shorting continues to happen.
While no exact system of measurement exists, most point to the level of trades that fail to deliver from the seller to the buyer within the mandatory
three-day stock settlement period as evidence of naked shorting. Naked shorts may represent a major portion of these failed trades.
Investopedia explains Naked Shorting
Naked shorting is illegal because it allows manipulators a chance to force stock prices down without regard for normal stock supply/demand patterns.
In 2007, the Securities and Exchange Commission (SEC) amended Regulation SHO to further limit possibilities for naked shorting by removing loopholes
that existed for some broker/dealers. Regulation SHO requires lists to be published that track stocks with unusually high trends in "fail to
deliver" shares. Some analysts point to the fact that naked shorting, albeit inadvertently, may help markets stay in balance by allowing the negative
sentiment to be reflected in certain stocks' prices.
Read more: www.investopedia.com...