>
I bet you think that the "mortgage crises" and the naked short scandal are seperate issues. What do you think the brokers did with the money they stole from investors, their clients, through naked shorting???? Put it under the mattress? Hint: It had to do with mortgages.
Get a clue. They all bought MBS's to get that easy triple AAA rated 9% yeild....Then reality set in and the Mortgage backed paper is worthless and the Brokers still have to replace the stolen money in their clients accounts. So to say this is a "mortgage crisis" really doesn't define the entire issue.
Mark this post. Some smart go getter in the financial media will be reporting on the depth of the problem one day, then you can say you heard it here first.
Byrne was right all along about the latest corruption on Wall Street. Corruption is nothing new. The fact that so many people are involved is what is amazing. In the past you may have had a "rogue" trader or some small group involved in illegal activity. The most recent scandal involves CEO's, journalists, Congressman, Hedge funds, most of the Brokerages, and the SEC itself.
Even more amazing is that it took so long for any investigative journalist to print the story. I guess they feared getting sued or worse yet not getting invited to the Christmas party of the rich and famous.
Word is starting to get out now. Banks and Brokerages are failing, hedge funds are going broke, Congress is investigating and people will eventually go to jail.
I want to see how much more money Congress will need to fix this mess. I think 700 billion will be a drop in the bucket. What will the DOJ find at the DTCC when they try to account for all the shares that are credited to, but missing, from clients brokerage accounts? How will Congress and Hanky Panky explain all those missing shares? Or will they not explain it (again) and ask for $700 billion (again)?
Anyone new to the NSS game should do their own research and not depend on any wiki site. Many investors to this day do realize what NSS is or the extent to which they have been harmed.
Slashdot Mirror
> I bet you think that the "mortgage crises" and the naked short scandal are seperate issues. What do you think the brokers did with the money they stole from investors, their clients, through naked shorting???? Put it under the mattress? Hint: It had to do with mortgages. Get a clue. They all bought MBS's to get that easy triple AAA rated 9% yeild....Then reality set in and the Mortgage backed paper is worthless and the Brokers still have to replace the stolen money in their clients accounts. So to say this is a "mortgage crisis" really doesn't define the entire issue. Mark this post. Some smart go getter in the financial media will be reporting on the depth of the problem one day, then you can say you heard it here first.
Byrne was right all along about the latest corruption on Wall Street. Corruption is nothing new. The fact that so many people are involved is what is amazing. In the past you may have had a "rogue" trader or some small group involved in illegal activity. The most recent scandal involves CEO's, journalists, Congressman, Hedge funds, most of the Brokerages, and the SEC itself. Even more amazing is that it took so long for any investigative journalist to print the story. I guess they feared getting sued or worse yet not getting invited to the Christmas party of the rich and famous. Word is starting to get out now. Banks and Brokerages are failing, hedge funds are going broke, Congress is investigating and people will eventually go to jail. I want to see how much more money Congress will need to fix this mess. I think 700 billion will be a drop in the bucket. What will the DOJ find at the DTCC when they try to account for all the shares that are credited to, but missing, from clients brokerage accounts? How will Congress and Hanky Panky explain all those missing shares? Or will they not explain it (again) and ask for $700 billion (again)? Anyone new to the NSS game should do their own research and not depend on any wiki site. Many investors to this day do realize what NSS is or the extent to which they have been harmed.