Fascinating Read on DeepCapture.com

I pulled this from “In Play” on Yahoo! Finance today. They referenced this press release from overstock.com’s Web site. (I watch In Play throughout the day to get the short story on what’s moving the markets.)

9:08AM Overstock.com issues press release related to Reg. SHO (OSTK) 20.15 : Co announces that “yesterday marked the 800th trading day that the co has appeared on the Regulation SHO threshold list”. The CEO said “While this may seem paradoxical, the facts can be reconciled. One need only understand that our capital markets have been hijacked: our settlement system no longer settles, our New York financial media no longer investigates, and our regulators no longer regulate. For further explanation, see the fine example of investigative journalism that appeared this week on DeepCapture.com”.

Deepcapture.com posted a long (about the size of a small book) article about the corruption in shorting stocks on Wall Street including names of the alleged culprits. I have no idea if this is true, but it’s a great read. I didn’t get through all of it due to time constraints and thought many of you would enjoy reading as much of it as you have time for.

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1 Comment »

Comment by lenofus

Unfortunately, deepcapture is true. I know: I lived it. And if you don’t think it’s true, tell me what happened to BSC, and why, when Jamie Dimon looked at the balance sheet, he was “shocked ” at what he saw. He already knew about subprime. What else was there? And the $2 bid was because of the ‘liabilities’. You don’t need to be Bernanke to figure it out.

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