VERB suing Institutions for $150M that naked short

VERB suing Institutions for $150M that naked short is a good start. Maybe also sue no-balls for damages of $5M. That will leave a mark.

Was reading an article this weekend that named 10 of the largest institutions. Can't find it at the moment. Some might incorrectly think it's some small hedge funding doing it.

Goldman Sachs Fined 7.5 Bil. Won for Naked Short Selling of Stocks in S. Korea
http://www.businesskorea.co.kr/news/articleVi...dxno=26998

The GameStop Mess Exposes the Naked Short Selling Scam

Quote:

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It’s a scam central to the stock trading system, enabled by the Securities and Exchange Commission (SEC), the market regulator, and the Depository Trust and Clearing Corp. (DTCC), the stock clearinghouse, to benefit the big players. The SEC has long been run by revolving-door officials who move between it and Wall Street trading houses and law firms. DTCC is owned by the prime brokers, such as Goldman Sachs, JPMorgan, and Citi, and run in their interests .

It’s a scam central to the stock trading system, enabled by the Securities and Exchange Commission, the market regulator.

At the House hearing, Rep. Nydia Velazquez (D-NY) asked about the dangers of short selling. “GME [GameStop] sold short 140 percent. Why isn’t that manipulation?” She meant that short sellers sold 40 percent more shares in GameStop than existed. They were phantom shares that didn’t exist but that were posted in buyers’ accounts as “entitlements.” The buyers have no idea they don’t have real shares. They can sell and even loan those digital entitlements.

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https://prospect.org/power/gamestop-mess-expo...ling-scam/