Movie Sheds Light on Sirius Naked Shorts 106 comments
an article to
-
Font Size:
-
Print
- TweetThis
Stock Shock the movie is breaking new ground. The movie that promises to shed light on illegal naked short selling has actually caught the eye of the United States Securities & Exchange Commission. Stock Shock is a documentary that educates viewers about illegal trading practices, through the stories of Sirius XM (SIRI) investors who believe they were the victims of naked short selling, and the victims of hedge funds who were possibly trading on the inside information that the company would be driven to bankruptcy this past February by certain bondholders. Unfortunately for those that participated, their plan failed and now the SEC is involved.
Satwaves has learned that several days ago, an agent for the SEC contacted a representative of Stock Shock, as that agent had been alerted to the allegations of hedge fund wrongdoings that were made in the film. A copy of the movie was sent to the agent, who then called back the movie’s representative to get more details, yesterday. The second phone call from the SEC lasted for 20 minutes, and included talk of media collusion as well.
Coming on the heels of the Obama administration’s announcements of sweeping reforms, it seems the SEC is now taking its position a bit more seriously. The agency has taken a lot of heat for ignoring claims regarding Bernard Madoff that fell on deaf ears until an unthinkable amount of damage could be done.
In the movie, Jim Cramer in a Mad Money clip calls on the SEC to make just one arrest, and that would end the game of naked short selling. Thus far, the problem has been the collapse of any company that fell victim to the game. The fact that Sirius XM not only survived but now thrives may prove to lead to the paper trail that can put an end finally to these illegal trading practices.
It will only take one person to confess to their part, no matter how small to create a landslide effect in the investigation and bring these people to justice. In my own interview in the film, I called for an SEC investigation also. Others did as well. This was my personal goal in agreeing to participate in the movie.
Disclosure: Long SIRI
Related Articles
|





















Down we go, I said take profit today. All hype...
Probably going to sit at 37 over the weekend. Maybe even 32.
Actualy, this sucks... I did not want to be correct. And i missed the 47 so I missed this pump and dump chance. Oh well...
Cramer was running very scared for several months after. He had death threats that put him in a hotel under protective guard. Probably the only justice that Mel’s "Quick & Dirty Financing" ever will receive.
Did Brandon write, "Sirius XM not only survived but now thrives"? LOL, Selling debt JUNK bonds to continue operations and pay "Outstanding" to keep a credit line is now called "thriving"? heheheh LOL...
No the Securities & Exchange Commission is not going to do much. Mel & SIRI was already investigated for telling direct lies in a Congressional Hearing. The Congressman who did the investigation into the lies was hushed. Any investigation of Mel gets hushed. SIRI and Mel get a free pass to rape and pillage investors.
Mel’s original "Quick & Dirty Financing" gave GS, Goldman Sucks a huge chunk of “off balance sheet” shares. The idea was to secure the loan without saturation. But, GS loaned out the shares to shorts. GS used Mel’s merger deal to short SIRI into the dirt.
GS continues to use those shares to short for a hedge. That is why I do not see a panic short cover ever happening. For GS the shorts are an insurance policy well worth the write-off coast.
Most who know this info in detail also know how Mel made personal hidden millions shorting his own company. This is what absolutely outraged me and why I will never stop telling the story.
I am heavy long in SIRI but pound this bad info because people need to know they are investing in a gangster..
We will see.
On the positive front Siri didn't tread back today as much as I expected. Only down about 2points. Not bad considering the nice last few days.
I sold some at .47 and have a set buy back at .41. If it doesn't hit then that's just as good.
It's a WIN WIN situation.
You heard it here first, Mr. Stupid
Mr. Stupid
On Jun 26 10:32 AM SIRI-Doom wrote:
> Naked Shorting? Maybe not.
>
> Mel’s original "Quick & Dirty Financing" gave GS, Goldman Sucks
> a huge chunk of “off balance sheet” shares. The idea was to secure
> the loan without saturation. But, GS loaned out the shares to shorts.
> GS used Mel’s merger deal to short SIRI into the dirt.
>
> GS continues to use those shares to short for a hedge. That is why
> I do not see a panic short cover ever happening. For GS the shorts
> are an insurance policy well worth the write-off coast.
>
> Most who know this info in detail also know how Mel made personal
> hidden millions shorting his own company. This is what absolutely
> outraged me and why I will never stop telling the story.
>
> I am heavy long in SIRI but pound this bad info because people need
> to know they are investing in a gangster..
I trusted Mel two years ago. I trusted the Merger. I trusted his ability to get financed. Trust got me stuck in SIRI.
Getting out of SIRI is work. It is no longer an investment. Sweat, tears and frustration over working to double down this penny. It is work.
The kind of work and fear of poverty that you, Mr. Stupid should never experience. That is why I tell the story.
I guess i'm just trying to make back some, if not all, of that money Siri took from me. It's personal now.
Mr. Stupid
On Jun 26 10:45 AM SIRI-Doom wrote:
> Mr. Stupid
>
> I trusted Mel two years ago. I trusted the Merger. I trusted his
> ability to get financed. Trust got me stuck in SIRI.
>
> Getting out of SIRI is work. It is no longer an investment. Sweat,
> tears and frustration over working to double down this penny. It
> is work.
>
> The kind of work and fear of poverty that you, Mr. Stupid should
> never experience. That is why I tell the story.
Yes it is... For me it is 290,000.00 worth of personal. That is big...
We will make it back. Double down is work 6 percent at a time. But, SIRI could go up. I need it to go up much less now than a year ago.
We need Mel to do just one thing correctly with no down side. IS that possible? LOL
Just in time for the dollar to collapse... LOL
The iphone app? Thats a pump? #1 music app still. SiriusXM hasnt even issed a press release about that. MSM doesnt seem to care. So who pumped that?
Note restructuring? Thats SEC filings required by NASDAQ rules. No pump there. Great news, but once again, just releasing facts.
MSM reaction? An "insider" sees the rate as 13 percent, only 1.75% off, pretty bad for "insider" information. I think that was the street.com report that said that. So no pump there.
Rosie signing? How is announcing your next talent a pump? And Im still waiting for the dump. No dump. Its at .46 cents right now, trading more and more like a normal stock. Buy and hold game now for a bit. Dangerous to trade, too much good news, in too short a time. Russel delisting, as explained weeks ago, was a non factor. If anything, its the last bit of basher fear keeping people from jumpin in before the end of the quarter. Look out in July. Fund managers can open new positions. All Russel index selling will be over, and any funds closing positions at the end of the quarter are obviously rapping that up. Still at .46.
Siri-Doom, my advice to you, if you dont trust management, is to reconsider your holdings. Good luck.
For all we know, the big sell off was into the iphone release, and off the note news.