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More Evidence of Criminality at Goldman Sachs and Merrill Lynch (Bank of America) - 'Naked Short Selling'

Regardless of efforts by banks to prevent public exposure of the extent of criminality in some of the largest financial institutions, inadvertent filing by an attorney for these institutions, disclosed evidence of deliberate "Naked Short Selling". The evidence of criminality has been overwhelming all along, but criminal prosecution of the perps is yet to take place... Failure to enforce banking regulation is likely to prolong the current crisis and exacerbate its ill-effects.


The chances of the law being enforced on Bank of America or Goldman Sachs in a California court (or a US court for that matter) is slim, regardless of the facts or the law...

READ MORE:
[1] M. Taibbi, Accidentally Released - and Incredibly Embarrassing - Documents Show How Goldman et al Engaged in 'Naked Short Selling', Rolling Stones, May 15, 2012
http://www.rollingstone.com/politics/blogs/taibblog/accidentally-released-and-incredibly-embarrassing-documents-show-how-goldman-et-al-engaged-in-naked-short-selling-20120515#ixzz1x6Y9mYFL
[2] K Gullo, Goldman, Merrill E-Mails Show Naked Shorting, Filing Says, Bloomberg, May 17, 2012
http://www.bloomberg.com/news/2012-05-15/goldman-merrill-e-mails-show-naked-shorting-filing-says.html
[3] M.V., Short-selling litigation, An enlightening mistake, The Economist,
May 15th 2012
http://www.economist.com/node/21555472


Added: Jun-7-2012 Occurred On: Jun-7-2012
By: HumanRightsAlert
In: World News, Regional News, Other News, Politics
Tags: Goldman Sachs, Bank of America, Criminality
Location: Los Angeles, California, United States (load item map)
Marked as: approved
Views: 1935 | Comments: 14 | Votes: 0 | Favorites: 1 | Shared: 0 | Updates: 0 | Times used in channels: 2
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  • you think the bailout and wag of the finger from the gov changed anything ?

    they haven't changed a DAMN thing !

    Posted Jun-7-2012 By 
    mylostsoul (736.94)  

    (3)

  • Comment of user 'JosephMarkovich' has been deleted by author!

  • I hope for another financial collapse so all these greedy bankers will jump from their high rise windows again.A bit harsh but im showing the same level of care and respect they show us.

    Posted Jun-7-2012 By 
    Freakster (474.30)  

    (1)

  • Wasnt REG SHO supposed to fix this? :p

    Posted Jun-7-2012 By 
    deathspasm (118.76)  

    (0)

    • @deathspasm Yes but the SEC has failed to enforce Reg SHO or any other regulation against naked short selling. They just keep publishing the Reg SHO lists of failures to deliver and the crooks keep using the lists -- provided by the SEC free of charge -- to target stocks for naked short selling. Apparently DTCC thinks naked short selling counteracts "pump and dump" schemes, which is preposterous.

      Posted Jun-7-2012 By 
      hdadd (294.60)  

      (0)

    • @hdadd
      SEC fails to exert any regulation on financial institutions. Period.

      Posted Jun-8-2012 By 
      HumanRightsAlert (390.90)  
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    • @HumanRightsAlert
      However, I do not consider SEC the core problem. At the bottom line, if you cannot win a court case against a bank, there is no way that SEC can enforce the law.
      LINKS:

      [1] 11-04-12 PRESS RELEASE: Bribing of State and US Judges by Bank of America Must be a Serious Concern!
      http://www.scribd.com/doc/52846502/

      Posted Jun-8-2012 By 
      HumanRightsAlert (390.90)  
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  • And to think people will actually tell you with a straight face that there needs to be less regulation of the banking industry....

    Posted Jun-7-2012 By 
    picklethepug (1314.56)

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    • @picklethepug Human nature,all they hear is it'll be harder to gamble with everyones money so your pay check might be smaller.Everyone bitches on about the talent that will leave and go elsewhere.....talent?. if thats talent then I rekon I could do a pretty good job of fucking everything up,and get to call myself talented...I cant lose.

      Posted Jun-7-2012 By 
      Freakster (474.30)  

      (2)

    • @Freakster Agree 100%. Apart from that, where are these tax hating freedom loving banker patriots going to go? Europe? Where they'll pay a 50% personal income tax rate even though they cry endlessly about paying 30% in the US? All big fucking crock of shit.

      Posted Jun-7-2012 By 
      picklethepug (1314.56)

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  • Didn't take the time to look it up again but a rule against selling short on a down tick passed in the '30s to prevent selling pressure from sending a stock and/or the markets into a free fall was repealed during baby Bush's administration. No effort has been made to restore it under Obama's watch. Salt and Pepper go together.

    Posted Jun-7-2012 By 
    TMoray1 (782.16)  

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  • Comment of user 'Macdonald Gay' has been deleted by moderator!

  • Come on, bankers, will you behave yourselves now? Obama said "tsk tsk tsk!"

    Posted Jun-7-2012 By 
    khamomil (1612.84)  

    (0)

  • Libs are shit

    Posted Jun-7-2012 By 
    cALlme6 (494.20)

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