'Naked Short Selling'

“Fuck the compliance area – procedures, schmecedures,” chirps Peter Melz, former president of Merrill Lynch Professional Clearing Corp. (a.k.a. Merrill Pro), when a subordinate worries about the company failing to comply with the rules governing short sales.

We also find out here how Wall Street professionals manipulated public opinion by buying off and/or intimidating experts in their respective fields. Full Story »

Posted by Dwight Rousu
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Subjects: U.S., Business, Community
Topics: Law, Finance, Crime
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Posted by: Posted by Dwight Rousu - May 16, 2012 - 11:03 AM PDT
Content Type: Article
Edit Lock: This story can be edited
Edited by: Dwight Rousu - May 16, 2012 - 11:13 AM PDT
Dwight Rousu
4.7
by Dwight Rousu - May. 16, 2012

What we all suspected was going on by the crooks at Goldman, written without minced words by one of our best current journalists.

The slimey buddies of Bain Capital, and all of Obama's favorite financial advisers...

See Full Review » (12 answers)
Bob Herrschaft
4.4
by Bob Herrschaft - May. 17, 2012

This I believe is an important story albeit a bit arcane for those who don't dabble in small growth stocks. Leave it to Matt Taibbi to find out what's happening under the rock! The only thing missing from the article is how naked short selling can affect the small companies( the actual innovators) that depend heavily on investment to build investor confidence...not all can recover as in the case of Overstock. I believe a large part of the problem is that the SEC is underfunded by ... More »

See Full Review » (11 answers)
Randy Morrow
4.1
by Randy Morrow - May. 17, 2012

It is both terrible and hilarious to contemplate. The bank has spent a fortune in legal fees trying to keep this material out of the public eye, and here one of their own ... More »

See Full Review » (11 answers)

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