Thursday, October 12, at 1:00 PM EST, I will be doing a special edition of The Faulking Truth on CFRN.net. My guests will be Overstock CEO Patrick Byrne and Dr. Susanne Trimbath, and economist with operations management experience at DTCC and the Pacific Clearing Corporation. We will discuss the topic of stock market fraud and recent events that have occurred in the industry, and we’ll talk specifically about the October 19 conference that both Bryne and Trimbath will participate in entitled “Naked, Short & Greedy: IS WALL STREET ABUSING THE PRACTICE OF SHORT-SELLING STOCKS?” The show will be available for download at StreetIQ.com after the show. Out of over 25,000 podcasts on StreetIQ.net, CFRN is now the number two most popular show, beating out Jim Cramer’s Real Money and Kudlow and Company.
Next week, STP Advisory Services, LLC will be hosting an event to raise awareness about stock market fraud that, if successful, could be the first of similar events held throughout the country.
The email announcement begins with: "If you own any stock, you need to attend this event!" and then goes on to tell the tale of naked short selling, a problem that is finally being at least acknowledged in the financial press, if not addressed by our federal regulators. It's an issue that has been trumpeted by the The Faulking Truth for almost three years, and even longer by such stock market reform advocates as Dave Patch at www.investigatethesec.com and the late Gayle Essary at www.financialwire.net More recently, the ranks of those trying to awaken the masses to the problem, which this reporter first addressed in an article entitled " Financial Terrorism in America " waaaaaay back in March of 2004, has been boltered by an incredibly disorganized but surprisingly effective group of bloggers, a growing army of angry and disillusioned shareholders, and a couple of high-profile CEOs of companies that have been victimized by naked short selling....which brings us back around to "If you own any stock, you need to attend this event!"
Naked, Short & Greedy: IS WALL STREET ABUSING THE PRACTICE OF SHORT-SELLING STOCKS?
Presented by: STP Advisory Services, LLC
October 19, 2006
Registration and buffet breakfast begin at 7:30; speakers start at 8:15; event concludes at 11:00
$45 in advance, $60 at the door
Park Hyatt Los Angeles
2151 Avenue of the Stars
Los Angeles, CA 90067
Do you know that you may be holding electronic-entry “entitlements” in your brokerage account that are not backed by any real shares of stock? This problem affects your ability to cast votes in corporate decisions. Did your last 1099 show “non-qualified” dividends, which were taxed as ordinary income? The IRS now requires brokers to separate the reports when you get paid “cash in lieu” on entitlements instead of dividends on real shares.
Votes cast in excess of outstanding shares on corporate ballot issues are becoming commonplace. Public companies and investors complain of share prices depressed and diluted by heavy selling of phantom shares created by DTCC settlement procedures.
On October 19, STP Advisory Services, LLC, will present a rare look into the damage done to investors and companies by short selling and settlement failures. The event will include remarks by three speakers with special insights.
Dr. Patrick Byrne, CEO of NASDAQ-traded Overstock.com, will discuss the trading of “phantom shares” that appear to far outnumber those officially issued and outstanding in OSTK. Portfolio manager and financial writer Arne Alsin will reveal insights gained as an investor in large-lot trades in markets systemically flawed by FTDs. Dr. Susanne Trimbath, an economist with operations management experience at DTCC and the Pacific Clearing Corporation, will illuminate how trading practices take advantage of loopholes in the settlement system to the detriment of both public companies and investors.
Registration fee includes buffet breakfast, event materials and post-discussion coffee. (Valet parking not include.) Click here for more details and to go to secure, on-line registration; or visit us at http://www.stpadvisors.com/events.html
I’ll take it a step further than “if you own any stock,” and say that if you even have money in a retirement account or pension fund, or if you’re just interested in what is happening in our country’s economy, then you need to attend this event. It’s a rare opportunity to hear some of the country’s most outspoken and educated authorities on the subject of stock market reform.
Oh…and if there are any reporters out there who would like to be enlightened about what history will view as the most financial important issue of our generation, then you need to attend this event as well. And it wouldn’t hurt for our elected representatives in Congress and our federal regulators to hear what isn’t being openly discussed on Wall Street.
And that, as always, is the Faulking Truth.
This article is also posted on Mark Faulk’s blog at The Sanity Check, along with an excellent comment section, at:
http://www.thesanitycheck.com/Blogs/MarkFaulksBlog/tabid/86/Default.aspx
Mark Faulk is the Editor of The Faulking Truth, and the author of the upcoming book entitled "The Naked Truth: Counterfeiting the American Dream," due out in late 2006 (postponed from its original release date because of ongoing developments with the story). For more information on the book and on the stock market scandal, go to http://www.faulkingtruth.com , and to pre-order your copy, go to http://www.theownersgroupinc.com/cart/
Add your name to our mailing list on our homepage, and we'll update you on developments in the Stockgate scandal.
To read more about the issue of stock counterfeiting, go to:
http://www.faulkingtruth.com/
http://www.investigatethesec.com/
http://www.thesanitycheck.com/
Voice your opinion on our message board (you don't have to sign up to post).
Investing 101 Archives:
Financial Terrorism in America (Mark Faulk, Mar 19, 2004)
Pump and Dump or Short and Distort? (Mark Faulk, Apr 18, 2004)
Response From Berliner Freiverkehr and The Berlin-Bremen Stock Exchange (The Faulking Truth, Jun 3, 2004)
The Berlin Connection? SEC and NASD to Meet With German Brokerage Firm Tomorrow (Mark Faulk, Jun 3, 2004)
Is Dateline Losing Credibility Over StockGate Story Delays? (Mark Faulk, Jun 11, 2004)
Who's Looking Out For You? SEC Critics Seeking Investigation (Mark Faulk, Jun 27, 2004)
He Said, She Said: SEC, NASD At Odds Over Status of Proposal (Mark Faulk, Aug 5, 2004)
The Berlin Connection: 250 Companies Out (And Counting) (Mark Faulk, Aug 30, 2004)
Jag Media Case Dismissed by Judge, Citing Filing Deficiencies (Dave Patch, Sep 9, 2004)
A Twelve Step Program to Clean up the OTC Stock Market (Mark Faulk, Sep 14, 2004)
Is Time Running Short in StockGate Scandal? (Mark Faulk, Oct 5, 2004)
Dateline: The Waiting is the Hardest Part (Mark Faulk, Nov 16, 2004)
Death of an Investment Class (Dave Patch, Dec 30, 2004)
Elgindy Trial Illustrates Incompetence at the Federal Levels (Dave Patch, Jan 4, 2005)
The Year of the Investor (Mark Faulk, Jan 5, 2005)
Regulation SHO’s Threshold Lists Leave More Questions than Answers (Dave Patch, Jan 11, 2005)
Feeding the Stock Market Beast (Mark Faulk, Jan 11, 2005)
Economic Corruption US Style (Joel S. Hirschhorn, Feb 27, 2005)
Stockgate Goes to Congress (Mark Faulk, Mar 10, 2005)
The Old Shell Game (Bob O'Brien, Mar 25, 2005)
FINALLY! Dateline to Air Stockgate Segment April 10th (Mark Faulk, Mar 28, 2005)
Dateline Stockgate Update: POSTPONED YET AGAIN! (Mark Faulk, Apr 6, 2005)
Time to Boycott GE, Dateline, and NBC? (Mark Faulk, Apr 6, 2005)
Pink Sheets CEO Calls for Reform in OTC Stock Market (Mark Faulk, May 2, 2005)
National Counterfeit Conspiracy Days, June 6th and 7th! (Mark Faulk, May 15, 2005)
Ninety-Four Trade Days and Counting (Dave Patch, May 25, 2005)
Stockgate: Turning up the Heat (Mark Faulk, May 31, 2005)
Stockgate: Donaldson out......Cox in (Mark Faulk, Jun 2, 2005)
SEC's Donaldson out, Cox in: One Step Forward, Two Steps Back (Mark Faulk, Jun 13, 2005)
President Bush’s Social Security Agenda - Steal your Money the Easy Way (Dave Patch, Jun 17, 2005)
Global Links Corp: The Real Story (Mark Faulk, Jun 26, 2005)
Forget SEC "Regulations".... This is Good Old-Fashioned Fraud (Mark Faulk, Jul 13, 2005)
Common Cause Joins Fight to "Stop Corporate Takeover of the SEC" (Mark Faulk, Jul 22, 2005)
Dateline Stockgate: We're on, we're off, we're on, we're off.....WE'RE ON AGAIN: July 31st!!! (Mark Faulk, Jul 25, 2005)
Dateline to Air Stockgate Segment in 2-Hour Show, Sunday, July 31st (Mark Faulk, Jul 29, 2005)
From Dateline to Overstock....The Plot Thickens (Mark Faulk, Aug 16, 2005)
Congress Sells America Short (Mark Faulk, Sep 20, 2005)
Stockgate: The Big Picture (Mark Faulk, Oct 10, 2005)
Stockgate: Rallying the Troops (Mark Faulk, Oct 16, 2005)
The $10.5 Billion REFCO Smoking Gun? (Bob O'Brien, Oct 23, 2005)
We Definitely Aren't in Kansas Anymore - Fraud Wall Street Style (Bob O'Brien, Nov 3, 2005)
Start Spreading the News: Stockgate Goes Nationwide (Mark Faulk, Nov 8, 2005)
Stockgate: "Can We Talk?" (Mark Faulk, Nov 27, 2005)
It's Money That Matters (Mark Faulk, Dec 11, 2005)
Regulation SHO; Results Leave Questions More than Answers (Dave Patch, Dec 29, 2005)
Faulking Truth Editor to Write CMKX Story (The Faulking Truth, Jan 5, 2006)
It Takes an Army (Mark Faulk, Jan 11, 2006)
The Circle of Greed: The Only Bull in this Stock Market is a Cash Cow (Mark Faulk, Jan 17, 2006)
A Silent Lynch Mob - An Open Letter From Rod Young (Rodney Young, Feb 2, 2006)
The Circle of Greed: A Voice in the Wilderness (Mark Faulk, Feb 13, 2006)
The Circle of Greed: Who Wants to be a Congressman? (Mark Faulk, Feb 26, 2006)
Freedom of the Press? (Mark Faulk, Mar 12, 2006)
The Parallel Universe of the DTCC: “Bits and bytes in book-entry form.” (Mark Faulk, Mar 24, 2006)
Finally...the Truth About Patrick Byrne (An open letter to Colin Kelly, Jr.) (Mark Faulk, Apr 19, 2006)
Faulking Truth recommends abolishing the SEC (Mark Faulk, Apr 27, 2006)
The Circle of Greed: The Cloak of Invisibility (Mark Faulk, May 25, 2006)
The CMKX Story: When Too Much Isn’t Enough (Mark Faulk, Jun 1, 2006)
The Circle of Greed: "Let us Prey" (Mark Faulk, Jun 9, 2006)
The Keystone Cops meet the Gang that Couldn’t Shoot Straight (Mark Faulk, Jun 24, 2006)
Once Honesty is gone, Eliminating Integrity is easy (Mark Faulk, Jul 7, 2006)
"The Naked Truth: Counterfeiting the American Dream" Questions and Answers (Mark Faulk, Jul 27, 2006)
World’s Largest Plasma TV: Priceless…For everything else, there’s Sharesleuth.com (Mark Faulk, Aug 11, 2006)
A FAIL IS A FAIL IS A FAIL!!! (Mark Faulk, Aug 31, 2006)
A Question and Answer Session about CMKX and Stock Market Fraud (Mark Faulk, Sep 15, 2006)
The Return of the Lying Liars (Mark Faulk, Sep 20, 2006)
Naked, Short, & Greedy (Mark Faulk, Oct 11, 2006)
Vote (Patrick Byrne) for (Overstock.com) CEO of the Year (Mark Faulk, Oct 23, 2006)
ENOUGH IS ENOUGH! (Mark Faulk, Nov 5, 2006)
"You and I are not in the Big Club" (George Carlin (Forward by Mark Faulk), Jan 18, 2007)
The Fall of the SEC (Mark Faulk, Feb 2, 2007)
Bloomberg to tell the story that Dateline didn't (Mark Faulk, Mar 12, 2007)
Wall Street vs. Main Street: Part 2-Oklahoma counts down the days (Mark Faulk, March 25, 2007)
Oklahoma Passes Landmark Stock Market Reform Law (Mark Faulk, April 25, 2007)
The SEC Official Party Line to Stock Market Fraud (Mark Faulk, May 10, 2007)
The Circle of Greed: Watching Rome Burn (Mark Faulk, June 18, 2007)
Sen. Bennett Renews Call for Hearing into Stock Market Fraud (Mark Faulk, July 21, 2007)
FIRE!!! (Please Leave the Building in an Orderly Fashion) (Mark Faulk, Aug. 9, 2007)
This Bird has Flown - Convicted Stock Swindler Nowhere to be Found (Mark Faulk, Sept 18, 2007)
The Naked Truth: Investing in the Stock Play of a Lifetime (From Chapter 31 - Revelations) (Mark Faulk, Feb 18, 2008)
Better Late Than Never…SEC Files Charges in CMKX Case (Mark Faulk, Apr 8, 2008)
From the ashes: CMKM Diamonds refuses to "just go away" (Mark Faulk, Jul 10, 2008)
Conversations with Robert A. Maheu (Mark Faulk, Aug 21, 2008)
The Goldman Gang (Mark Faulk, Oct 29, 2008)
A Plea for Justice: A Letter to President Obama (Mark Faulk, Jan 24, 2009)
Killing the Goose that Lays the Golden Eggs (Mark Faulk, Mar 12, 2009)
Financial Armageddon In Retrospect (Mark Faulk, Sep 18, 2009)
Will the SEC Finally Help Investors? (Mark Faulk, Oct 7, 2009)
Conversations with Robert A. Maheu (Mark Faulk, Jan 13, 2010)
A Blueprint for Corruption (Mark Faulk, Mar 8, 2010)
A Blueprint for Corruption (Part 2) (Mark Faulk, Apr 3, 2010)
The Goldman Gang Rides Again: Short Selling the World (Mark Faulk, Apr 18, 2010)
|
|
|
