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Faulking Opinions - Jul 7, 2006 - Printable Version
- It's NAKED Short Selling...NAKED NAKED NAKED NAKED NAKED NAKED!!!!!! Any Questions?
by Mark Faulk
I’m sick of the lack of morality, common decency, and whatever that other word is that was eliminated from the English language while we slept…oh yeah, now I remember…INTEGRITY. Guess what folks? This isn’t about laws, it isn’t about the ability to game the system by utilizing loopholes in our regulations, it isn’t about changing the SEC Mission Statement to fit the crimes, it’s about DOING THE RIGHT THING. The only rule that these people need to take a look at again is the Golden Rule: “Do unto others as you would have them do unto you.” Bud Burrell was right on target with his latest commentary, we have lost our “Political and Moral Gyroscope." We’re trying to deal with what’s moral and right, and they’re using lies, distortion, and misdirection to justify their lack of integrity (there’s that elusive word again). It's a tactic that is used by every seedy "journalist" in the financial arena, but I'll use Jim Cramer as an example, because he represents everything that is wrong with our country today. Here's the misdirection we deal with every single day, from the Master of Misdirection himself, the lowest of the low, Jim Cramer: He begins his latest lie with a tirade about how "companies that get illegally manipulated into oblivion usually deserve it." Of course, he never mentions the innocent shareholders who get screwed out of their investment dollars, whose lives are destroyed by fraud. I guess that they deserve having their lives torn apart, their savings decimated, and their futures destroyed so hedge fund managers, Wall Street brokers, and the ultra rich can build hockey rinks inn their back yards.
Paragraph one:
"Did you ever notice that this naked short-selling issue never comes up with the stocks of good companies? Can you recall an instance where a money-making, decent company has been involved in a naked-short-selling tailspin?”
First of all – duh. The corrupt hedge funds and the low-life scum criminals who rape companies purposely pick the companies wearing the short skirts. They pick victims who aren’t perfect, or, as Cramer himself put it later in the same article, “victims who deserve their victimhood.”
The innocent shareholders who get screwed, the countless others who happen to be in the neighborhood and are raped in the frenzy of greed that drives these morally bankrupt bloodsucking leeches, as written off as nothing more than collateral damage. And people like Jim Cramer, people with no moral compass whatsoever, with no conscience, then pervert the truth and distort the issue in order to justify their own reprehensible actions.
Which brings us back to the Master of Misdirection. In the space of a few short paragraphs, Cramer somehow miraculously confuses legal short selling with illegal, manipulative naked short selling - for the hundredth time.
I continue to think that short-sellers should be considered blameless in almost every case that I have ever seen involving a decline. I have heard the alibi endlessly. I always say that if a company under the stock is any good at all, the shorts will be forced to cover, and the stock will go up even more than it should.
Don't be deluded by the Regulation SHO advocates. They are often well-meaning, but they don't know how the process works. They are vocal; this article will antagonize them, and I will be savaged for the common-sense thread exposed here.
So what.
Worth doing, just to remind you that the companies that are often mentioned as victims deserve their victimhood.
I’ll end with a few “common-sense” questions for Mr. Cramer.
Is illegal short selling the same thing as legal short selling? Because if you don’t know the meaning of the word “illegal” it’s a cinch that you have no clue what the word “integrity” means either.
Are you really so stupid and clueless that you don’t understand that the entire problem is that in naked short selling (again…ILLEGAL NAKED SHORT SELLING IS NOT THE SAME THING AS LEGAL SHORT SELLING) the short sellers aren’t covering their trades, so the stock won’t ever go up, because it’s being manipulated!!!
Do the shareholders deserve to be victimized as well? Does the fact that you believe that the companies “deserve their victimhoood” extend to the shareholders themselves?
So Mr. Cramer: This might antagonize you, and I might be savaged for telling the truth, but it’s worth doing, just to remind you that no one is buying your distortions and lies.
And THAT’S a sanity check from the Faulking Truth.
This commentary is also posted at The Sanity Check, where you can post your comments as well:
http://www.thesanitycheck.com/Blogs/MarkFaulksBlog/tabid/86/BlogID/5/Default.aspx
Mark Faulk is the Editor of The Faulking Truth, and the author of the upcoming book about the CMKX saga entitled "The Naked Truth: Counterfeiting the American Dream," due to be released at the end of July or early August. For more information on the book and on the stock market scandal, go to http://www.faulkingtruth.com , and to pre-order your copy, go to http://www.theownersgroupinc.com/cart/
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