|
Post by kranker on Mar 18, 2006 22:54:42 GMT -4
|
|
|
Post by kranker on Mar 18, 2006 22:56:06 GMT -4
As usual, Dr. Byrne proves an entire criminal case of stock counterfeiting in this presentation.
As usual, the SEC and DTCC ignore the problem, and allow the crime to continue.
|
|
|
Post by kranker on Mar 18, 2006 23:04:43 GMT -4
Overstock (NASDAQ: OSTK) CEO Patrick Byrne surfaced in the hornet’s nest this week, leveling charges at the JP Morgan Chase (NYSE: JPM) Conference that Goldman Sachs (NYSE: GS) and Citigroup (NYSE: C) are the most egregious of 15 major Wall Street brokerages holding positions far in excess of their Depository Trust and Clearing Corp. positions. The presentation is at www.businessjive.com/podcast/060315-ByrneJPM-businessjive.m4a Byrne told the brokers that Goldman Sachs, holds 1,696,513 shares in excess of its DTCC position of 1,024,234 shares, as of January 12, and Citigroup holds 942,890 shares in excess of its position of only 88,706 shares. The chart, showing undelivered shares of 6,862,730 out of 3,673,980 at the DTCC, totaling a mathematically impossible 109,536,710 shares, is slide 24 of the presentation at www.shareholder.com/overstock/downloads/JPMorgan_3-14-06.pdf Goldman Sachs is said to be the primary brokers for Rocker Partners, a huge hedge fund that Overstock has sued, claiming collusion with Gradient Analytics. The U.S. Securities and Exchange Commission has also subpoenaed records from both companies, along with several prominent “journalists,” in what is thought to be a front-running investigation. Other large unfilled positions are held by City Securities, Morgan Stanley, Barclay, NFS LLC, Lazard Capital, Charles Schwab, Merrill Lynch, UBS Securities, Daiwa, Bear Stearns, National Investors, Ameritrade and E*Trade. cmkxunitedforum.proboards70.com/index.cgi?board=general&action=display&thread=1142623833
|
|
|
Post by kranker on Mar 18, 2006 23:09:11 GMT -4
|
|
|
Post by kranker on Mar 18, 2006 23:09:32 GMT -4
From Bobo's Blog Re: Of Hissy-fits, Ashtrays, and The Importance of Self-Expression By n-tres-ted on 3/14/2006 Posted on the Yahoo OSTK board: (Failures to Deliver from the slide presentation at the JPMorgan Conference today by Dr Byrne) 1,696,513 - Goldman Sachs 942,890 - Citi Group 811,987 - Citi Securities 619,098 - Morgan Stanley 429,909 - Barclay Capital 417,205 - NFS LLC 309,700 - Lazard Capital 276,832 - Charles Schwab 270,304 - Merrill Lynch 221,297 - UBS Securities 159,100 - Daiwa 159,100 - Daiwa 157,787 - Bear Sterns 155,787 - Natl. Inv. 131,925 - Ameritrade 103,547 - E*Trade ---------------------------------- and from this: news.yahoo.com/s/ap/20060314/ap_on_bi_ge/earns_goldman_sachs_8 "The first quarter of 2006 wasn't one of them, as profits surged 62 percent and the Wall Street firm's revenues reached a record $10.34 billion — more than $3 billion ahead of analysts' expectations. " "the company is well-hedged against market fluctuations." ( I bet they are) "Analyst David Trone of Fox-Pitt Kelton said more than half of Goldman's revenue came from trading and investing" ---------------------------- Well, not hard to see the correlation as to how and why they made so much profit.... is it? I say open their books and lets see the years from 2000 to date! How many other companies are they SHORT??
|
|