|
Post by kranker on Dec 4, 2005 11:58:27 GMT -4
Below are links to an alleged conference call recording of Bear Stearns discussing about 1,000 companies, of which 800 are OTC BB and Pinks, that would be on the REG SHO list if it was published that day. (Before Regulation SHO was implemented) This was before the SHO list was made public. When finally made public, the NASDAQ REG SHO threshold list had far less than 1,000 companies listed. www.investigatethesec.com/Bear080705.wmawww.adamporter.com/media/Bear080705.mp3They also discuss the SEC, and Ex-clearing transactions ( like those Jefferies & Company was caught executing 6 months after this conference call). The Jefferies & Company Ex-Clearing evidence can be viewed here, www.cmkxownersgroup.com/JefferiesLetter.pdf
|
|
|
Post by kranker on Jan 3, 2006 0:53:55 GMT -4
A Statement by Bear Stearns' General Counsel Bill Philek - By DP On the December 13, 2004 Conference Call regarding regulation SHO, with Peter Murphy, senior managing director of the Bear Stearns Clearing Division in attendance as part of the panel (as recorded and available as audio here - requires Windows Media Player): "To give you that brief introduction in Reg SHO, the history (of) how we got to where we are today. For the past few years we have been hearing from many different regulators regarding their concerns about the increase in the level of fails that they are seeing. They believe, and they have stated on numerous occasions, that one of the primary causes of the high level of fails was that various participants in the short sale process, prime brokers, executing brokers, clients, were not following already established rules." Here it is, in black and white. Proof positive that the regulators are aware of violations, are concerned about the increase of violations, and know the cause, and the culprits. This implicates the entire broker/clearing house/hedge fund network in securities violations, without enforcement actions by Regulators, who instead looked the other way. Exactly what these high level of fails and illegal short sales did to the markets will be determined in State and Federal courts across America. This also implicates the Regulators in aiding and abetting the fraud. So for any elected officials who doubt that the NCANS take on the problem is, if anything, less alarmist than the situation deserves, I would direct you to the above statement and caution you to think long and hard as to the chronicle of abuses it confirms. And then decide whether you are part of the problem, or part of the solution. www.ncans.net/bear.htm
|
|