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Faulking Opinions - Mar 26, 2004 - Printable Version
- Worthless Opinions (In The Beginning)
by Mark Faulk
Editorial Policy: At The Faulking Truth, we welcome all editorials, and will print as many as space allows (did anyone get the irony of that, since the internet is, like, totally infinite?). However, please be aware that all editorials become the property of The Faulking Truth, and as such, are subject to dirisement and ridicule. So go ahead, send us your worthless opinion at faulkingtruth.com. We dare you. Apparently, my article on naked short selling struck a chord. Here are a few emails I received concerning "Financial Terrorism in America":
Dan in Tennesee says:
"Love to hear the truth.
Wish you worked for the SEC.
Good luck to you!!!
Please put me on your mailing list."
Dan, so do I, because I could make lots of money for doing very little work.
From Mike Zabinsky:
"Nice job and there is a lot more to tell.
The complicity of the DTC in all this is astounding.
What a coincidence that the DTC is 38% owned by DLJ and Bill Donaldson now
heads the SEC.
And what of the people that got double whammied when their CEO got in bed
with the lenders and systematically disembowled the company?
When they could no longer print shares they just dumped anything of worth
into dormant shells and started over with 500MM new shares.
When they moved the techs to the new companies they led the shareholders to
believe they were getting 80% of the new company but left out anti dilution
clauses.
Gets even funnier when the same people that made those deals awarded
themselves massive amounts of stock in the new companies and did include
those clauses for themselves.
If you have been watching this as long as I have then you no doubt know that
Christian & O'Quinn will have their appeal heard (ITIS) on April 12th.
If they suceed the whole system goes on trial."
Mike, thanks for your kind words, and I'm going to look up all those abbreviations ASAP.
From: Judy Cline
Co-Administrator
www.investigatethesec.com
Thank you for the mention of our website and the link to it in your publication. You have hit the nail on the head! Keep up the good work.
Judy, Back at you. It's concerned organizations like yours that help keep the pressure on those that need it. Thanks, and keep reading.
Subject: Idiot
you're a moron, you really think stocks tank because of naked shorts go look at usxp and get a brain
JKnepp
Mr. Knepp (I am assuming you are a guy because you are such a jerk),
That's just the type of intelligent dialogue I was hoping to inspire with my article on short selling. Although I don't know why I'm even bothering, I'll try to give an intelligent reply to your well thought out comments.
First, although the article is about short selling, if you actually read it you must have noticed the part that says "there are many reasons for the failure of small, struggling, publically-traded businesses, including mismanagement and outright corporate fraud". This is the faulking truth: yes, fraud does exist in many OTC companies, but that doesn't exonerate the many offshore lenders, hedge funds, and Canadian brokers that have destroyed the dreams of small, struggling companies, their employees, and their stockholders. Unlike Bush's WMDs, you don't have to search very hard to find examples of this. Try the Sedona case (if in fact you can read, here's that link: http://www.rgm.com/articles/pipe1.html ), or any of the dozens of cases that have been brought against the culprits I just mentioned. Here's a link to numerous articles that detail exactly what I was writing about: http://www.rgm.com/shortselling.html
Here's a good one from the San Francisco Chronicle, detailing the antics of Dallas investor Edward "Rusty" Rose III, a close friend and crony of George Dubbya Bush, who conspired to manipulate the share price of Terayon Communications Co., after shorting millions of dollars worth of the company's stock, a great plan, except the price tripled and he had to embark on a serious campaign of bashing the company by "knocking the company to journalists, financial analysts and government regulators". That one is written by Reynolds Holding, Chronicle staff writer (another idiot moron). Here is the link to that article: http://www.rgm.com/articles/sfc.html
Hope that helps.
Here is the short version of my reply:
I know what you are, but what am I?
Subject: youre a faulking idiot
the companies that get shorted into oblivion deserve their fate. In fact
there are many more companies which deserve that fate as well. It will come
to pass. Have a nice day
Pearlsboy
Dearest Pearlsboy:
Thank you, I will.
And another email form the good people at www.investigatethesec.com:
Just read your articles and the reference to our website. Great stuff and
thanks for the link.
I want to apologise once again, for not believing you a few weeks ago that
you were starting a real website and not some basher related
website to make fun of us.
The article about naked shorting is well written and will hopefully raise a
few eyebrows when the average investor finds out he has been robbed from his
money.
Thanks again for the effort
Regards from Belgium
Marc Van den Broeck
And finally, this reader summed it up better than I could.
Well known, but good.
I couldn't help think about the tax write-offs that I have been taking, ($3,000.00 per year), for the past 4 years because of the rip-offs that I invested in.
I still have about $28,000.00 to go on the writeoffs..
I wonder if anyone thinks of the OTHER costs that are involved in this ripping off of the small investor?
The government loses, capital gains, more money in to the budgets of our Fed Gov, and lower State & Muni taxes, PLUS, the money lost that people would be spending IF the companies would move forward.
As you say; Just my worthless opinion..
Thanks,
Bob McCawley
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