Posted On: 11/11/2013 1:49:52 PM
Post# of 8059
Thanks- I'm not an expert on nss -Rocket and 7-10-11 have that football- but we've posted long articles from a specialized civil rights attorney re that issue before- its reportedly a massive problem despite new rules ca 3-1-11 designed to limit mm's nss
as i said in a previous post, brokers etc can be the reason for counterfeit shares in the market,which can cause the dtc to selectively chill or lock a co's stock -
I say selectively, because as per an article rocket/miltia man posted on the other board maybe 2 weeks ago, its a marketwide problem- that the majority of the shares in the market apparently cannot be traced to physical certificates -so this allows the dtcc, which many say is in a crony/buddy type relationship w the brokers, to selectively apply the rules and selectively pick a co to pick on -even when a co has nothing to do with any unauthorized market shares
because as per the article rocket posted the dtc would have to chill or lock half or more of the co's out there if their rules were fairly applied across the board to all co's
the theory is they cannot short your stock if you have a cash account as opposed to a margin account - I say theory because in the anti-business environment of sec dtc otc brokers etc politically fostered by a high level politician since 2009, many rules and fiduciary duty and constitutional law have been broken with apparent impunity- and if brokers are issuing illegal naked short shares they probably arent concerned with rules
brokers shorting of longs stock- and without our specific knowledge- is a blatant violation of their fiduciary duty (essentially the highest duty) , but the stock market seems to be its own universe- playing with/impairing/dissipating/destroying a clients property like that is a big no no outside the market and 1 of the few things in practice that can get an attorney disbarred
as i said in a previous post, brokers etc can be the reason for counterfeit shares in the market,which can cause the dtc to selectively chill or lock a co's stock -
I say selectively, because as per an article rocket/miltia man posted on the other board maybe 2 weeks ago, its a marketwide problem- that the majority of the shares in the market apparently cannot be traced to physical certificates -so this allows the dtcc, which many say is in a crony/buddy type relationship w the brokers, to selectively apply the rules and selectively pick a co to pick on -even when a co has nothing to do with any unauthorized market shares
because as per the article rocket posted the dtc would have to chill or lock half or more of the co's out there if their rules were fairly applied across the board to all co's
the theory is they cannot short your stock if you have a cash account as opposed to a margin account - I say theory because in the anti-business environment of sec dtc otc brokers etc politically fostered by a high level politician since 2009, many rules and fiduciary duty and constitutional law have been broken with apparent impunity- and if brokers are issuing illegal naked short shares they probably arent concerned with rules
brokers shorting of longs stock- and without our specific knowledge- is a blatant violation of their fiduciary duty (essentially the highest duty) , but the stock market seems to be its own universe- playing with/impairing/dissipating/destroying a clients property like that is a big no no outside the market and 1 of the few things in practice that can get an attorney disbarred
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