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Comments on So What REALLY Happened Around FBIpo Time?
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User Info So What REALLY Happened Around FBIpo Time? in forum [Market-Ticker]
Donethat
Posts: 770
Incept: 2009-04-22

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Hmmm, sold short before there were shares to borrow? That overstock.com article http://market-ticker.org/akcs-www?post=2.... and from original source rolling stone http://www.rollingstone.com/politics/blo....

"F**k the compliance area ...."

Any handles on fails to deliver yet? But then there are other ways to hide naked shorting.
Nevertoolate
Posts: 1218
Incept: 2007-08-26
Gold A True American Patriot!
San Antonio de Bexar de runover with illegals, Texas
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The sold a "synthetic" short before the shares were issued. Why not? You can create synthetic CDS, why not a stock. They knew there would be plenty of "bagholders" to replace the "synthetic" shares with. All after about a 15% "gain". Just in a day's work! Theft is now work.

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"Socialist never mind stealing, as long as they are the ones doing the stealing. They never mind lying, as long as they are doing the lying."-Mannfm11

Before you attempt to beat the odds, be sure that you can survive the odds beating you.
Goforbroke
Posts: 5331
Incept: 2007-11-30
Gold A True American Patriot!
Just call me 'Comrade'
Online
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inline

HAHAHAHA

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We have met the enemy and it is us. -- Pogo
Votenoconfidence
Posts: 12
Incept: 2012-04-10

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Long time reader, first time poster.

Looks like some investors are mad and looking to do something about it:

http://m.cnet.com/news/57439918

Keep up the good work Gen!
Asimov
Posts: 103847
Incept: 2007-08-26
Gold
East Tennessee Eastern Time
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Welcome aboard.

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It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
Argos
Posts: 6305
Incept: 2008-03-23
Gold
The Green Mountain State
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http://www.reuters.com/article/2012/05/2....

Partial quote:

Quote:
Morgan Stanley told brokers on Wednesday it is reviewing every Facebook Inc trade and will make price adjustments for retail customers who paid too much during the social network company's debut last week, according to an internal memo.


Peterm99
Posts: 4981
Incept: 2009-03-21
Gold
SoCal
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Quote:
. . . price adjustments for retail customers who paid too much . . .
That would be ALL of them, right? smiley

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". . . the Constitution has died, the economy welters in irreversible decline, we have perpetual war, all power lies in the hands of the executive, the police are supreme, and a surveillance beyond Orwell’s imaginings falls into place." - Fred Reed
Tinfoil
Posts: 578
Incept: 2007-12-01
Green
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This whole even points to SecondMarket as THE market. They're just getting rolling, IMO. Wall Street is the old-guard, toilet dumping ground. And why not? With HFT pushing so much volume, flash crashes, nazzy f-ups, SEC with heads up their asses.. How many times do you have to get popped on a stop loss to realize its a cesspool of malfeasance serving only one master? (Not saying private markets are better as they have a long way to go for fairness, but they're a lot better in many ways for an INVESTOR).

I tip my hat to David and Cheryl - two people I have to respect for leaving NOTHING on the table for the crows to feed on.
Etz
Posts: 13887
Incept: 2007-06-26
Silver
LA
Online
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One would think they knew better by now.

Human stupidity is infinite after all.

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Legal chicanery and beneficent darkness are the banker's stoutest allies - F.Pecora.

Landshark
Posts: 11233
Incept: 2008-02-07
Silver
The Wild West
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Quote:
Human stupidity is infinite after all.


Same as it ever was.

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Success in life is a matter not so much of talent and opportunity as of concentration and perseverance.

– C. W. Wendte
Musicandnature
Posts: 1947
Incept: 2007-12-05
Gold
NJ
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Now Cramer is calling it outrageous and egregious. lol. Imagine the flack he took from the Cramerites.
http://money.msn.com/technology-investme....

This reminded me of Jackie Chiles the lawyer from Seinfeld. If anyone wants a laugh from the past, ya got "the balm" and "the bra" clips here-
http://www.youtube.com/watch?v=jpcEietIo....

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Since it costs a lot to win, and even more to lose, You and me bound to spend some time wonder'n what to choose. Goes to show, you don't ever know, watch each card you play and play it slow...Wait until that deal come round, don't you let that deal go down, no no. Garcia/Hunter.
Floridasandy
Posts: 632
Incept: 2009-08-20

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delapaz,

it certainly was successful for zuckerberg, but i think it indicates a pretty sad state of affairs now.

i suppose that is the natural progression of a FU mindset, but i think it is pretty sad that wall street used to actually function to support new businesses and help them grow.
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