Misplaced Pages

Revision as of 10:08, 5 October 2006

Naked short selling

To ESkog

I saw your kind words and would respond on the page I read them on, but I cannot find it, so I hope you don't mind that I have come over here, and I will also post this on my talk page. It seems obvious that the naked short selling page has been co-opted by the miscreants. I see no reason that the link http://www.thesanitycheck.com/BobsSanityCheckBlog/tabid/56/Default.aspx is not permitted on the page as it is a legitimate blogsite, full of useful information where one can learn and share information on naked short selling. It is obvious to many of us that watch our stocks on a daily basis that there is blatant manipulation of the share price in many stocks, which is only possible through the counterfeiting of phantom shares. I am sorry you chose to side with the big money who are manipulating our markets and now the wikipedia. If I cannot participate in the wikipedia anymore, so be it. I know a lot about a few things, and a little about many. However if the wiki is not interested in seeking the truth, count me out.

_____________________________

If this link http://www.thesanitycheck.com/BobsSanityCheckBlog/tabid/56/Default.aspx is not permitted to be displayed then it is obvious that the crooks are in charge of what is allowed to be included in the wikipedia. Shame on you for allowing either money or a personal bias by corrupt evil doers to bastardize widipedia and get in the way of telling the truth, the whole truth and nothing but the truth, so help me God. ___________

Leuko & Co I put the link in again http://www.thesanitycheck.com/BobsSanityCheckBlog/tabid/56/Default.aspx Please do not remove it as it is a powerful source of information on naked short selling. TIA - - - - - - -

To whomever:

TheSanityCheck.com is not a commercial site. We sell nothing. It is a collection of opinion and data, representative of everyone from academics, regulators, journalists, investor advocates. It is the official blog of the Market Reform Movement, whose work has been officially recognized by the Columbia Journalism Review, the Nevada Supreme Court, and other similarly serious sources. Most of the factual content is FOIA data collected from the SEC, which shows the actual amount of naked short selling in the US equities markets. The opinion pieces are typically written by Dave Patch, who has appeared on CNBC, Mark Faulk of TheFaulkingTruth.com, Bud Burrell, and Bob O'Brien, who has been interviewed by numerous publications. The overarching imperative of the bloggers and academics who contribute to the site is to establish a fair and transparent rule of law in our markets. Critics of our work generally fall into one camp - those who gain financially by an illegal practice such as naked shorting, and who will do virtually anything to silence any exposure of the extent to which the practice takes place. That includes many of the most powerful and wealthy icons on Wall Street, and most of the large institutions that trade stocks and make markets. Those who oppose naked shorting are everyone else: academics, investors, regulators, lawmakers, CEOs, anyone who has any interest in investing in the markets.

The "controversy" over naked shorting is a red herring. There is no controversy. It is illegal for anything but a market maker in bona fide market making instances to naked short. Much is made to confuse innocent failure to deliver due to a lost certificate, and the sort of practice that has hundreds of millions or billions of shares failing delivery every day. The 1934 Securities Exchange Act stipulates clearly that shares need to be delivered promptly - "settle" - including transfer of record ownership. Selling shares one doesn't have possession of, and has no intentions of delivering, is fraud. Simple. As discussed before, much effort goes into creating and atmosphere where simple fraud is blurred, by calling it something else. The reason all the effort is invested is because Wall Street makes many billions from the practice, and it is in the best interests of that system to lie, and obfuscate, and confuse, and pretend that taking a buyer's money and then refusing to deliver what they paid for is anything but fraud.

The battle taking place on this site is typical of what has taken place in the media. On one hand, we have wordsmiths with an agenda - argue that illegal naked short selling counters penny stock scams, cite like-minded journalists reciting their lines by rote, hammer that hundreds of millions of undelivered share COULD POSSIBLY be innocent, cite the SEC's self serving sleight of hand statements, ignore all contradictory evidence and data, no matter how plentiful...virtually every rhetorical dishonesty can be seen in just a few short paragraphs. On the other hand, we have the 1934 Act and the rules therein, we have FOIA data, and we have the expert testimony from a host of securities regulators, academics, legal experts, public officials, all of whom clearly articulate that naked shorting is real, is damaging, and is a big problem.

That Wiki allows the former to have precedence over the latter is tragic. They are not equal. Any rational or logical adult can see they aren't. References to one author's mediocrities, in both book and dated article format, abound, while the statements of the former head of the SEC, of the securities regulator of UT, of the former Undersecretary of Commerce, of magazines like Time and Bloomberg and Forbes, are discarded out of hand, with a feeble argument that "meat puppets" are advancing an "agenda."

Perhaps that is true. An agenda is being advanced. It can seem foreign to those with ulterior motives and an adversarial imperative.

The agenda is known as the truth.

Whether Wiki finds it unfamiliar and unwelcome is really the question, isn't it?

This is the long way of saying that removing the link to the pre-eminent site on naked shorting, which HAS been cited by the folks who hand out the Pulitzers as the source to go to for info on the topic, is typical of intellectual dishonesty of one of the editors here, and speaks to a desire to remove a source of hard data, on any pretense.

But using the contrivance that it is a commercial link, or someone's own, private website, is a canard, and beneath any site wishing to hold itself out as having even a modicum of integrity.

Please do not add commercial links or links to your own private websites to Misplaced Pages, as you did in Naked short selling. Misplaced Pages is not a vehicle for advertising or a mere collection of external links. You are, however, encouraged to add content instead of links as long as the content abides by our policies and guidelines. If you feel the link should be added to the article, then please discuss it on the article's talk page rather than re-adding it. See the welcome page if you would like to learn more about contributing to our encyclopedia. Thanks. Leuko 02:43, 3 October 2006 (UTC)

To Leuko & Company

As stated on the discussion page http://www.thesanitycheck.com/BobsSanityCheckBlog/tabid/56/Default.aspx is not a commercial site and I do not have an affiliation with the site. Please stop removing the link as it is a valid blog link all about naked short selling. —The preceding unsigned comment was added by Nothing But The Truth (talk • contribs) .

Ok, well even so, links to blogs should be avoided under WP:EL, since they are generally not WP:RS. Please dicuss the addition of the link on the article's talk page before re-adding it. Thanks. Leuko 22:34, 3 October 2006 (UTC)

To Leuko & Co,

I have discussed the link on the discussion page and have gotten no feedback. I do not see any reason to not include the link. It is a legitimate link for a weblog as I have seen on other wiki pages. The whole blog is about naked short selling. I see no reason not to include the link. Please do not remove the link until you give an adequate reason of why it is unacceptable. TIA

3RR

You are in danger of violating the three-revert rule on Naked short selling. Please cease further reverts or you may be blocked from further editing. —The preceding unsigned comment was added by 205.188.117.74 (talk • contribs) 11:49, 4 October 2006 (UTC)

I would second this warning. Please don't let an edit war get in the way of your becoming a positive contributor to Misplaced Pages. (ESkog) 12:36, 4 October 2006 (UTC)

User notice: temporary 3RR block

Regarding reversions made on October 5 2006 to Naked_short_selling

You have been temporarily blocked for violation of the three-revert rule. Please feel free to return after the block expires, but also please make an effort to discuss your changes further in the future.