Like many people when I first got 'Net service (about 7 years ago), I spent alot of time reading about and trading stocks during the breathtaking stock mania of that time. All in all I didn't do so badly in '99 & '00. Even after the bottom fell out in '01, I said to myself "it coulda been worse, much worse".
Then one of my "pet" stocks began tanking way more than it should have. At the time nobody was talking about "naked short selling." Shareholders were left wondering "what the fuck is going on?" Now we're learning there may be a scam of all scams, a wall street scandal of all scandals, its been referred to as a form of "financial terrorism" in describing what in the fuck may actually be going on.
Will Dateline get to the heart of the matter in 17 minutes? I have my doubts. The MSM has pretty much ignored this story, and their recent shitty track record for truthful investigative reporting isn't encouraging. Here's Mark Faulk's thinking on it last year:
"It's been called the biggest financial scandal in the history of the world, with incurred losses estimated by some experts at well over $1 trillion dollars. It's a scandal that involves over 1,200 offshore hedge funds, over 150 US brokers, and has already bankrupted over 7,000 US companies in the past six years. According to many of the lawsuits filed to date, the crooks include terrorist groups and organized crime syndicates. Sources say that this scandal, which involves an intricate system of selling electronic counterfeit shares of stock in an effort to destroy the market value of small publically traded companies by utilizing a method known as "naked short selling", will eventually implicate almost every major broker in America, all of the governing bodies that oversee trading, and will extend into Canada and Europe."
and
"It is vitally important that the Dateline story gets the attention it deserves. We can only hope that their report tells the real story of this scandal, and that Congress and the major media will join us in our mission to, at long last, restore trust and credibility to our stock markets, so that honest investors can once again invest their hard-earned money and have a chance to achieve the American Dream."