I found this part to be very interesting... If
Post# of 11040
Posted On: 01/29/2016 1:48:15 PM
I found this part to be very interesting...
The DTCC is a division of the Federal Reserve. It clears quadrillions of transactions in NEW YORK every year. To say its powerful is understatement. Its a fundamental tool required for all ELECTRONIC transactions in the GLOBAL market.
COR CLEARING and the DTCC most likely will give everything they have to the judge on CRGP stock (electronically and physical certificates)....and that is where things will get very interesting! It seems that CEDE would have had custody of all CRGP stock for long time now....and CEDE is part of the TREASURE chest of Weapons that the US Government uses to protect itself.
$CRGP
Quote:
If that’s COR’s new direction, and it wants complete data, it will need to subpoena all 67 clearing firms it notified in connection with the motion to appoint a receiver. The judge will need to rule on any objections and perhaps enforce document production. Then what? Would COR sue shareholders who’d received dividends to which they weren’t entitled? Or would they sue the brokerages for failing to distinguish between dividend-eligible and dividend-ineligible stock?
Chances are the judge will raise some objections of his own to this new strategy. If the real culprit in this story is Calissio the “ghost corporation,” it would get to keep its ill-gotten dividend gains, while shareholders who knew nothing of due bills and potential problems with DTCC’s dividend distribution system would be penalized. That would scarcely be an equitable solution. The bigger question that everyone seems to be overlooking involves tracing who controlled Calissio behind the scenes when this scheme was put into place.
The elephant in the room is DTCC. Its distribution system appears to have failed to recognize stock issued after the June 30 record date; stock that was not eligible to receive the dividend. The Nobilis, Beaufort, and Macallan stock was presumably deposited with DTCC’s nominee CEDE & Company upon issuance, so DTCC had the means of knowing it did not exist as of the record date. COR complained to DTCC as soon as it realized its account would be debited, but to no avail. Alpine says it requested a hearing on the matter; DTCC refused schedule one. So why isn’t DTCC a party to COR’s lawsuit? The simple answer is probably the right one: DTCC is powerful, and clearing firms must work with it on a regular basis.
The DTCC is a division of the Federal Reserve. It clears quadrillions of transactions in NEW YORK every year. To say its powerful is understatement. Its a fundamental tool required for all ELECTRONIC transactions in the GLOBAL market.
COR CLEARING and the DTCC most likely will give everything they have to the judge on CRGP stock (electronically and physical certificates)....and that is where things will get very interesting! It seems that CEDE would have had custody of all CRGP stock for long time now....and CEDE is part of the TREASURE chest of Weapons that the US Government uses to protect itself.
$CRGP
(0)
(0)Calissio Resources Group, Inc. (CRGP) Stock Research Links
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"The Preamble
We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America."
Oath
"I solemnly swear to support and defend the Constitution of the United States of America"
The Flag
"I pledge allegiance to the flag of the United States of America, and to the republic for which it stands, one nation under God, indivisible, with liberty and justice for all."
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If the broker-dealer fails to deliver for 13 days, the regulation imposes a “close out” duty to purchase and deliver securities “of like kind and quantity.”
https://www.bloomberg.com/opinion/articles/20...ify%20wall
https://www.scotusblog.com/case-files/cases/m...v-manning/