By Brandon Matthews
Satwaves received an advance copy of Stock Shock: The Short Selling Of The American Dream Friday. The first time I watched it was from my own perspective. Of course I am overly critical of myself. I think that’s human nature. The second time I watched it was as a Sirius XM (NASDAQ:SIRI) shareholder. The third time was as a journalist who needs to write a story about the story. In my opinion, there will be three groups of people who oppose the film: Organized crime, The National Association of Broadcasters (NAB), and the Securities & Exchange Commission. Pardon me, did I just say three groups?
Writing a review may seem a bit biased on my part. As most know by now, I was interviewed on camera for the movie, and as it turns out I play a substantial role. In fairness to disclosure, I agreed to be named as a co-producer of the movie as well because I had facilitated many of the interviews that were done for the film. I have looked at the movie from many perspectives prior to writing this. I think my own perspective was made clear in the movie, with only an exception or two. My only disappointment lies in the removal of my explanation for blaming Michael Hartleib for causing much of the merger delay, which left the company vulnerable to exploitation from the likes of short selling hedge funds, Charles Ergen and John Malone.
As the movie progressed, it became less about Sirius XM and more about the stock market as a whole. The film features experts such as Martine Rothblatt, Susanne Trimbath, PhD, Bud Burrell, Wes Christian and bloggers such as myself and Tyler Savery. The movie I believe succeeded in its goal of explaining to the viewer the devastating effects of naked short selling on the American financial system as well as the disruption caused by the removal of the uptick rule. In fact, I believe it to be the highlight of the film.
I considered how Sirius XM itself would view the movie. I will tell you that there are a lot of positives which promote the company’s service, yet many negatives as the company does come under attack at certain times. In my opinion, the movie will in fact do the company more good than harm, as any negatives will be offset by the potential interest of new subscribers. There is no such thing as bad publicity.
I have personally made it my mission to forward copies to members of the U.S. Senate such as Ted Kaufman of Delaware, as well as major media including (if you can imagine) the Oprah Winfrey show. I don’t know much about the movie industry, but the films Director, Sandra Mohr should be exalted for bringing this issue to the forefront of debate.
It is my sincere hope that every American investor, whether or not they have ever invested in Satellite Radio, will invest in themselves by furthering their knowledge of the American Stock market. The unregulated hedge funds nearly succeeded in destroying America for personal profit, and continue to do so by selling counterfeit shares of stocks and bonds to unknowing investors. This movie can be a wake up call for the American investor to demand reforms at the highest levels of government.