Destroying Companies For Profit

An eye-opening confirmation of what I suspected already. The sad thing is I can still remember when I respected the Wall Street Journal and the SEC. Most Americans simply cannot believe how deep and pervasive the corruption is. Now why would the South Dakota governor be against a law requiring delivery of stock that has been paid for?!

A great many retail investors are aware of the blantant Naked Short Selling that is the criminal underpining of the our Stock Market System and most, if not all, of Wall Street and Politicians are aware of the open manipulations. But nothing has been done to correct the situation. Even the current world financial crisis hasn't motivated the SEC or the politicians to take a corrective stand against the open counterfeiting of stock and fails to deliver. I hope this presentation opens even more eyes. Maybe, just maybe, this will be a catalyst to market reform.

You really need to find better ways to spend Patrick Byrnes' money. This is just a complete waste of resources. If he had gave me the pile of money he has given you, I'd have an Emmy by now.

lenofus

I have documented this act with companies and it is true. This group deserves a metal of honor for discussing NSS and Chris Cox, President Bush and above all the hedge funds getting away with murder deserve HELL !
P.S. There is more to life than money.

The regulators know this is going on. The regulators don't want to touch it. Instead, they move on to jobs within the industry and take high-paying jobs as a form of kickbacks for letting this go on.

The SEC is dirty. After Gary Aguirre appeared before the Senate Judiciary Committee, an investigative report by the GAO was released. Four of the top seven people at the SEC left. No indictments, no censure.. they just left. These are people who had the oversight of our markets and not only let this go on, they encouraged it with their policies that harmed the ordinary investor in favor of Wall Street criminals.

This is a fantastic video! I will post it on my site's main page.

I think if people realized how much stock counterfeiting AFFECTED THEM then maybe they'd be a lot more upset. Perhaps you could do a video on the naked short selling of the financial instiutions which TAXPAYERS have to bail-out. You could talk about how the counterfeiters excacerbated their fall by spreading rumors and diluting their stocks with fake shares. They might not have failed if rumors were not spread about them and their stocks diluted. I explain this in my blog:

http://www.counterfeit-o-meter.com/blog/how-wall-street-counterfeiting-affects-m...

Again, great work tommytoyz!!!

First rate video! It's all there: pusillanimous financial journalists, malfunctioning SEC, corrupt Wikipedia, politicians too frightened to do the right thing, the surreptitious tape capturing NY Post's Dan Colarusso telling everyone that "we have the tools to crush" Patrick Byrne.

Patrick Byrne said he might be too low-key in describing the events in this video. I disagree. For a man who has been publicly mocked, scorned, and called a cookoo, his casual attire and mild demeanor attest to an eminently sane man.

Thanks for the video, tommy...

Yet another source of the truth. And today @10am the House Oversight Committee will parade Chairman Cox at a hearingon regulatory failure and its members will show off for the camera by villifying him. Then we go back to continuing naked shorting and lack of enforcement.
The relatively small cabal of miscreants only whet their appetite in 2003-4 and honed their criminal skills by picking on small cap, thinly traded,capital needy public companies.
Now late '08 has witnessed their greed run amuck. They've taken down household name large caps and even turned on themselves.
They can't stop,they won'tstop...until America wakes up and votes in politicians that will send in the DOJ with handcuffs. Wil it ever happen? Patrick Byrne will not give up,but where's the public?.

Chairman Christopher Cox is part of a criminal cartel. In the middle of the comment period for the elimination of the illegal GRANDFATHER CLAUSE for failed delivery that had been placed into Regulation SHO, they decided to eliminate the UPTICK rule. The uptick rule had served to protect mainstreet for over 70 years, and they just eliminate it saying it was unnecessary in today's environment. Look what has happened since... a perpetual BEAR RAID.

I would like to see a perp walk lead by Christopher Cox, and followed closely by Henry Paulson.

www.deepcapture.com
www.investigatetheSEC.com
www.investorprotectioncoalition.org

In the face of overwhelming evidence, the main stream media will still not get on board this freight train. They are what you might call 'captured.' Only a handful of reporters will even touch on this topic, with the vast majority toeing the Wall Street line of lying, obfuscating, and obliterating any source which tries to make the information available to the public. This is the same public that is being robbed at every turn by Wall Street. It's so sickening, it makes you want to just give up.

But that's not what's happening anymore. More and more people are becoming aware of the mass theft that's taking place.

Robert

Ever since the U.S. government--in the 1980's-- essentially did away with defined contribution pension plans in favor of employee-controlled 401-K's, Wall Street has been the happy recipient of vast amounts of taxpayer retirement money flowing into their coffers on a regular basis, to be invested into America's--and the world's--public companies. Over the last ten years, however, with the huge proliferation of unregulated hedge funds, it has become increasingly obvious that the clearance and settlement system of the U.S. securities markets has been badly corrupted, resulting in this massive influx of retirement savings money being routinely siphoned off into the accounts of a relatively few predatory shortselling hedge fund operators who were quick to exploit loopholes in the U.S. market's clearance and settlement system, and to recognize that regulators were completely asleep at the switch in enforcing regulations which have been on the books since the days of the Great Depression to protect investors.
While Wall Street interests have been successful in having the New York financial media community downplay and ignore the magnitude of the naked shortselling and failure-to-deliver problem, keeping it largely "hidden" from Main Street, a perusal of foreign media and investor message boards and internet blogs, all with an international audience, clearly shows that the perception is growing all over the world that the U.S. equity securities markets are as crooked, corrupt, and manipulated as those of any third world country...and that the SEC is doing nothing substantive about it. It has become abundantly clear that our so-called "Self-Regulatory Organizations" haven't been regulating themselves at all -- and that their sole priority and objective has been to facilitate the theft of Main Street's investment and retirement funds by their wealthy, greedy, avaricious hedge fund clients thru their use of naked shortselling techniques.
This is truly shameful and humiliating...and should not be the case for the most powerful nation on earth.
Edmund Burke observed that: "The only thing necessary for evil to flourish is for good men to do nothing."
The SEC and the U.S. Congress have done nothing for far too long about the fraudulent and illegal practice of naked short selling which tommytoyz and Patrick Byrne have so eloquently revealed in their video. Now that the practice has resulted in the destruction of the world's financial systems and the retirement savings of millions, it's past time for our Congressional leaders to act decisively to stamp out this evil once and for all. For unless and until they do, those who have been financially massacred by the corruption and lack of integrity in the U.S. markets will never return to them.

I have experienced the root cause of the current financial crisis.

Five years ago I invested in a company I’ll call ABC Corp. ABC appeared to be trading extra heavily over a short period of time on a US Stock Exchange; the float kept rolling over. Because of the high volume it appeared to me that real shares weren’t trading, they were probably IOU counterfeit shares. When I requested my shares in certificate form (as they used to be before the conversion to electronic digits), I learned ABC’s transfer agent was having a difficult time accumulating sufficient authentic ABC shares from my broker that could be transferred. I contacted the company to ask for direction.

The CFO of ABC Corp sent me the following message (I've edited certain names but left my broker as is):

Monday, July 21, 2003 6:00 PM

Sir:

You are on the unfortunate side of what I believe is a multi-trillion US dollar problem - so large that it is on the verge of sending the US economy into recession. If you check ABC Corp.'s press releases back to July 2002, the Company has started litigation in three countries suing most of Wall Street over the epidemic of "naked short selling" that exists since the US's 3-day securities settlement system only applies to the payment side of the transaction and the share delivery side is routinely never delivered. The result is banks, brokerages, market makers, and hedge funds that sell non-existent securities and the NASD, SEC, and all other regulating bodies allow it to go on. The investor is none the wiser unless they attempt to actually obtain delivery of what they purchased. The broker statement you get only indicates what the broker said he purchased for you, and they say you can buy and sell it anytime, and they will sell those non-existent securities for you any time you wish, but the securities you actually thought you bought are not really there a lot of the time - it is all a big fraud on the investor. Our litigation and those of other companies that include AMEX, NASDAQ, and NYSE exchange companies show how large the dynamic really is. All you can do that I believe is effective is complain to the SEC in writing and demand a response, or sue your broker in small claims court. The SEC will not do anything but may if many others also complain. The suit will cost you little, and cost the brokerage everything. They will find you stock in short order. They know they have no defense to not providing what they contracted with you for.

I am available for further discussion per the contact numbers below. The further response you got from TD Waterhouse regarding "certificate only" reasoning is from the entity that is perpetrating fraud on you. I would not expect the answer to be correct.

Signed xxxx ABC CFO

I believe this site has finally reached a viable way of communicating to the public as to what is really going on in the hallowed walls of Wall St. and how the small investor is being ripped off. If a person were to take the time out to read www.deepcapture and wwwthesanitycheck it would eliminate any doubt in your mind as to the magnitude of the crimes being committed and ignored by our government and regulators and it is, to say the least, scary and sickening. Everything is backed up with proof and and names are given that normally would never be mentioned by the media. This crime spree on Wall St. affects every man, woman and child for decades to come and could even destroy our fiancial well being as a country causing us to be vulnerable by weakening our security. We can not ignore this any longer, it is our existence that is at stake. Read and watch and you will know why I say this. Thank you Patrick and Tommy and Bob O'Brien for having the courage to fight back. Lets fight with them and reclaim our future.

Maximus

Just think about this for a few minutes. Would you buy a car with no title? How about a house? You even have a title search when you buy a house. However do you have any proof that substantiates your assetts in your 401's, IRA's, stock accounts, etc. other than a paper statement. What we are finding out that there are counterfeit or phanthom shares floating through our system and some of us if not many of us will be victims of relying upon something that is not there.Picture if you will a game of musical chairs and as a chair is elimintated someone takes a fall. The government even admits the problem is here and growing, however they vehemently denied it until it was exposed by people like Patrick Byrne and Bob O'Brien. Now many companies who have been destroyed or in the process of it are are in the process of legal protection and retribution. Some regulators have blown the whistle on their bosses. All of this is proven at www.deepcapture or www.thesanitycheck.com or www.investigatethesec.com If you are serious about your future and your well being take action now before you loose it all. This is serious and you can see the proof.

Patrick Byrne: an American hero. One of the only CEOs with the guts to stand up to the powerful Wall Street crooks, the hedge funds and their media lackeys. If he (or Gary Aguirre or Dave Patch or Tom Vallarino) were head of the SEC, we would finally see a level playing field for the small investor.

Investigate the DTCC!

This is nothing short of treason....pure and simple. I want every member of the House, Banking, and finance Committee hung from cherry trees on Pennsylvania Avenue!

Short selling of stock on the market is destroying companies by using millions of dollars to drive the price of their stock down so that they can buy it at a lower price or not having to buy it at all and profit from the difference between what they have sold it for.
No one but the actual owner of a stock should be allowed to sell it yet it is done every day, all day,in a relentless barrage of trades at or below the bid using the regulation change that the SEC made effective on July 7, 2007, allowing short sellers to sell stock that they do not have legal title to on the down tick, successively, at ever decreasing prices effectively stopping any advance in the ask. This eventually results in destroying investor confidence in the honesty, openness and fairness of the investment potential of the stock market for contributing to the growth and success of companies who rely on it for appreciation of the value of their company and for their net worth which is needed for continued availability of needed capital to grow.
While naked shorting, the most ludicrous game of speculating on the demise of subject enterprises without actually having an actual financial investment in the subject companies, is the most egregious form of fraud, all short selling of stock is fraudulent since it entails selling something the seller does not own to someone who believes that he is receiving an actual share of stock. Short sales of stock----all short sales of stock, naked or otherwise, is dishonest and should be prohibited in a market the government, through its agent, the SEC, insists is "fair, honest and open" with all buyers and sellers totally aware of what is actually being sold and bought.
The SEC has demonstrated that it is not capable of policing the short sales universe and actually supports the activity, purporting to add liquidity to the market---completely ignoring the blatantly fraudulent basis upon which it rests----treating IOU's as if they were the equivalent of actual shares of a company, immediately exchanging ownership at the moment a trade is executed between a seller and a buyer during which money is immediately expended by the buyer but not met with the immediate transfer of ownership from the seller (who does not own it) to the buyer (who in many millions of case never does receive it.
How can anyone with any sense of fairness and honesty, possibly fail to see the dishonesty in this system??? It boggles the mind that an ordinary investor cannot obtain a judgement from any member of our government that this is fraudulent behavior and immediate corrective legal and regulatory action to stop this must be taken.

This Video was made for free by me. I was not paid to do it. I am merely a victim of naked short selling and have been involved in trying to stop it for years. It's a volunteer effort.

It gives me honor and makes me feel good in knowing that I am doing something good in exposing the truth. I
Corruption all the way down.

I wish I could have included a lot more, but I think they will merrit their own POD. Like what exactly is going on in the main stream NY financial media. Or the glue that holds Wall Street together through personal relationships, favors and money, not the law.

I have a lot more footage in the can, so to speak.

This could become a small mini series, if it gets enough support.

Awesome video, tommy. But where's the Media on this? Are they all limp?

Good work for good purpose, Tommy. Keep up the good work. Part of the problem is that too few people are aware of the problem of naked shorting, and I think this will help in that regard.

There were 4 hours of testimony today by three major players in the US's financial system, Former Fed Reserve Greenspan, Current Chairman SEC Cox, and Former Secy. Snow. Practically no mention at all of Naked Short Selling, and it's subsequent effect on the economy, more specifically the economic 'MELTDOWN.' It's more than the media that's limp.

Robert

Facinating and frightening. Billions of dollars of our economy evaporated.

While the doubters believe this is a bunch of baloney, and all the failures are do to corporate deceit and mismanagement, maybe now they understand the definition of manipulation via security counterfeiting.

In light of the credit market freeze that resulted from obvious and unscrupulous wall street participants that are now being investigated and brought before congressional investigative committees, perhaps we should include an independent audit of the stock settlement system and those in charge of it.
We have had a whole lot of out right fraud on wall street that is approaching a trillion dollars to fix. If there is a way that they could commit fraud here, you can bet they did. There is obviously no honor or sense of right or wrong on wall street.

I've seen this happen with companies I invested in, and lost a lot of hard-earned money in the process. Naked shorting has the potential to destroy our financial system and our free market economy. Many smaller companies have many more shares trading on the exchanges than are actually issued, which dilutes shareholders and makes equity financing much too expensive.

Those behind it don't care, as they will be unbelievably rich rather easily and at little risk. The Federal Government doesn't care, as the politicians are kept in power by the massive campaign funding providing by the perpetrators, and the bureaucrats have been co-opted by the promise of lucrative jobs once they are ready to collect their government pensions.

Unreconstructed

Nice work, Tommy