Naked short selling
The Darkside of the Looking Glass: The Corruption of Our Capital Markets. It's an 80 minute in-depth presentation that explains the tactic of "strategic failure to deliver" stock. In other words, how Wall Street insiders use naked short selling and other deviance to steal money from investors and destroy companies for profit and how the system lies to protect them. He ends with a lengthly look at Refco and poor Sedona. This tale of stock market intrigue has Austrian banks, Swiss financiers, an arrested CEO, half a billion of "lost" money (naked shorts?), sealed records, and the potential to collapse the market if the truth is made public.
I've good a pretty good idea now of what may have happened to my Thorium stock earlier this month.
Labels: Economy