Posted On: 12/06/2015 7:01:48 PM
Post# of 11039
Re: cantbelieveit #7081
VERY IMPORTANT! You have an E*Trade account and you had no hold as many others?
I was looking for an example showing this situation. DTCC money was distributed same as all other brokers, but not everybody got the funds. Why? Because there was an excess of shares. Plain and simple Naked Short Selling.
Some may say unauthorized shares. At the end it's the same, Naked Short Selling.
And that's the reason for E*Trade taking lots of time to execute the initial distribution (which are real shares and which are air shares) and the extra three months to pay to other investors.
I was looking for an example showing this situation. DTCC money was distributed same as all other brokers, but not everybody got the funds. Why? Because there was an excess of shares. Plain and simple Naked Short Selling.
Some may say unauthorized shares. At the end it's the same, Naked Short Selling.
And that's the reason for E*Trade taking lots of time to execute the initial distribution (which are real shares and which are air shares) and the extra three months to pay to other investors.
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IMHO
Always, always do you own DD. Only invest funds you can afford to lose and trust nobody but yourself.
Always, always do you own DD. Only invest funds you can afford to lose and trust nobody but yourself.
