SEC Nabs Insider Traders. That's Great, But What About the Little Guy?

The SEC led by its new Chairperson Mary Schapiro is attempting to refurbish it’s reputation and taking an aggressive stance against Insider Traders and malignant Hedge Funds and this is no doubt a good thing. But it will protect a handful of accredited rich guys and a few big companies who allegedly should know better than to get burned by these nefarious characters. Heck I have heard members of Congress and Business calling for the legalization of insider trading similar if not identical to what this latest batch of arrestees is accused of.

How about the SEC make a name for itself again amongst the little guy? Anybody with an E-mail address has been targeted by penny stock pump and dumpers, stock picking robots, and other fool proof investment scams. They populate the twitter world, the blogosphere and worst of all the Stock and Investment forums. Folks that set up hundreds of internet identities, websites, and phony public relations outlets designed to influence the price of a stock, or just take the money of the unsuspecting.

It makes for great press when some hedge fund manager gets perp walked into the Manhattan Courthouse, but you’re looking at a guy in most cases who stole a million from a billionaire. I’d like to see the swamp drained from the bottom and get the miscreants who are taking bread money from the small time investor.

I love to see the newbie investor make good in our business, it’s stacked against them when everything is on the up and up. When they are killed off by the swarm of remoras before they even have a chance to prove their mettle against the sharks it hurts our business and the public perception of the markets. Seems to me a few savvy traders with a couple of laptops and a mandate to shoot down the small time slimeballs would go a long way to cleaning up the reputation of the business and the markets. This might bring in a lot of money that hitherto has been sitting on the sidelines.

So how about it Ms. Schapiro, how about striking a blow for the little guy? Advocate for the majority of people to whom you swore to serve, and sweep the floor, not just dust off the credenza.

Comments

[Tony Ryals]

And now she says the SEC should be self funding when in fact as far as I can tell all 'fines' or whatever levied by the SEC that might fund part of that are never accounted for in the first place.Where do they go ? And I can name penny stock fraudsters operating only blocks away from the main SEC office such as James Dale Davidson of Steve Forbes', et.al.'s NTU or National Taxpayers Union in Alexandria,Virginia and the D.C. or Virginia Heritage Bank penny stock banker David P Summers who posed as a Texas resident and biotech' genius' in order to promote(pump)his American Biomed and then Endovasc biotech penny stock pump and dump ops with Davidson and the Grin brothers of Israel and they are only the tip of the tip of the iceberg.James 'Clinton killed Vince Foster' Dale Davidson no doubt gave contributions to Clinton from money from stock fraud in his first presidential campaign. And James Dale Davidson only a few blocks away from the SEC in Alexandria,Virginia is the one who gave Mary Schapiro and ex SEC Chairman Christopher 'Naked Shorts' Cox as well as Patrick Byrne's of Overstock.con(who in turn gave $75,000 from stock fraud to ex Utah Governor and now U.S. Obama's China Ambassador Jon Huntsman Jr.) their lying 'talking points' about the supposed threat of 'naked short selling' because he started the fraudulent claim in 2002 with NAANSS or National Association Against Naked Short Selling to distract from his own illegal but SEC protected pumps and dumps and money laundering with Endovasc and Genemax (named for his newmax.con?),among MANY others,in the first place!
And now the SEC continues to lie about 'naked short selling' and Mary Schapiro like a foul mouthed high school kid puts the word 'naked' in every subject she addresses to the press.Why hasn't someone asked her or Rahm Emanuel or Barney Frank or Chris Cox (resting on hs laurels in California) how oh how could Fannie Mae and Freddie Mac,etc., have been 'naked shorted' when,like the Novastar Financial mortgage scam promoted by Byrne and his NCANS and his thesanitycheck.con, - ALL shareholders received their dividends so NONE of the shares they held were 'naked shorts' or 'counterfeited'!?
Why do business journalists not ask her hard questions about this 'naked shorting' she and her SEC IG H.David Kotz pimp around the internet long after Chris 'Naked Shorts' Cox has slipped out the SEC backdoor to continue to misinform investors ? Is this how she became the richest member of the 'Obama team' ?

Tony Ryals

2009 Nov 06 08:17 PM

[Aiki14]

Thanks for your comment.
While one likes to give our elected and unelected officials the benefit of the doubt, the history of the supervisory agencies warrants skepticism at the least. Whether by overt acts of malfeasance or incompetence these entities have put themselves in the position where the general public is wary if not dubious of their desire, and ability, to carry out their mandate.

2009 Nov 07 12:16 PM

[Tony Ryals]

To give you some idea how hard it is to get a logical answer or really any answer at all from the U.S.SEC I present this correspondence with 'Special Counsel' Steven G. Johnston as a fine example.I sent the questions as you can see on November 5
and only received an 'answer' today.But look they say they can't even find my complaint from 2003 in their records and maybe I have the wrong department or SEC or something.The reason I wanted a copy of my original complaint re Endovasc was in order to post it on the internet for the record.The reason I don't have my copy is that both ragingbull and their Lycos email and Yahoo email
'service' used to delete my accounts and steal whatever mail was in my email account as punishment for criticizing stock fraud on the websites ! But further Aiki14,note I was NOT just asking for my old complaint,I was asking what proof that Christopher Cox and the SEC HAD FOR SAYING DIVIDEND PAYING FANNIE MAE AND FREDDIE MAC WERE REALLY NAKED SHORTED AS THEY THEMSELVES STATE IN 2008 IN THE LINK I PROVIDE BELOW.I certainly never said Fannie Mae and Freddie Mac shares were 'naked shorted' or 'counterfeited - THEY DID ! Don't you believe as I do that the public and particularly people such as myself who suspect we were defrauded by 'public companies' the SEC allows to sell their shares to people over the internet,etc.,not only deserve but should demand proof when the SEC itself not just the con artists they allow to run public companies uses their or our own sec.gov federal government website to promote what to me appears a dangerous rumor at best ? It's no better than James Dale Davidson posting his rumor that Bill Clinton who he turned on after supporting his first presidential campaign,killed Vince Foster !

In fact it is James Dale Davidson who started the naked shorting rumor himself with his NAANSS IN 2002 that Patrick Byrne and Christopher Cox as well as Senators Carl Levin,Arlen Specter,Bob Bennett,Chuck Grassley et.al. continue to promote out of ignorance or outright contempt of the American public with intent to defraud ! Am I wrong or are they ? Why can't they just provide the proof and answer my queries so I can post the SEC's and Mary Schapiro's and Christopher Cox's proof on the internet ?
Do these U.S. government scumbags,pimps and prostititutes of fraud realize what it is like to be an American post 9/11 in a world where they, as supposed elected officials who should be concerned about money laundering, not only allow stock fraudsters to steal me and so many others blind but then actually lie about naked shorting themselves outright ? I say this because it appears to me that post 9/11 somehow those in positions of power decided that if they could cover up for ICTS International who guarded Logan Airport on 9/11 and Securacom who guarded Dulles and the 'IT' Odigo fraud, etc.(they being both stock frauds and foreign corporate sabotage in my opinion),and protect them even though they were U.S. incorporated public companies and in sec.gov's own filings and archives then they could, really, in the name of their 'war on terror' fraud anything goes and if someone like me gets in the way of or is conned into a stock fraud using U.S.penny stocks in offshore accounts such as Bellador Group of Kuala Lumpur that cold called Endovasc shares among others(such as CIA's SRA International and Republican Party connected China Wireless) in Hong Kong,etc.,(until the Hong Kong SEC had enough regard for its citizens to demand cease and desist) then I was not to be protected by the U.S. SEC or the U.S.government but instead terrorized by the likes of Robert Maheu connected Bud Burrell of thesanitycheck.con and CMKX Diamonds and USXP and CFRN or Christian Financial Radio Network as well as some penny stock he ran that claimed 'dark pool' trading was its business .According to Mark Cuban's blogmaverick, Bud Burrel was even part of the Endovasc fraud that ripped me off as well and Burrell claims all these scams were 'naked shorted and if you don't like it he'd like to torture and kill you at the pleasure of the U.S. SEC and the U.S. government ! His pal Patrick Byrnre of Overstock.con even gave Barack Obama's U.S.Ambassador to China $75,000 from his stock frauds when he was governor of Utah !I feel like I entered the twilight zone a long time ago.
But I'm getting distracted and wish to focus only open the one question to the SEC below.What is the SEC's proof that Fannie Mae,Freddie Mac and other stocks named on their website were really 'naked shorted' ? Below my dialogue with SEC 'Special Counsel' Steven G. Johnston :

Thank you for your additional communication.

Our office has no record of a 2003 complaint with us. If you filed the complaint with another division of the SEC, you may wish to contact that division.

I hope this information is helpful.

Sincerely,


Steven G. Johnston
Special Counsel
U.S. Securities and Exchange Commission

QUESTION

Submitted: 2009-11-05

INVESTOR INFORMATION
Name: Mr. Tony Ryals
Day Phone:
Email: [e-mail]


Dear SEC and Steven G. Johnston,
First there is only one SEC office in Alexandria,Virgina and I sent
and lodged my complaint using the SEC's own official internet
complaint format.But you must realize there were TWO queries I sent to
you NOT JUST ONE.So the SEC HAS SOMEHOW LOST MY COMPLAINT re the
Endovasc biotech pump and dump scam,James Dale Davidson(founder of
the National Taxpayers Union who still runs penny stock scams a few
blocks away from you at his NTU office in Alexandria) and Virginia
Heritage Bank penny stock conman David P Summers (who posed as a Texas
biotech exec and inventor from Montgomery,Texas while running the scam
from the Beltway,(where he really resided and resides),and then
claiming it was a victim of 'naked shorting' or an 'oversold' position
in press releases of 2002.No surprise.
However my other and more important query both to me and MANY
investors who lost money in companies making fraudulent 'naked short
selling' victim claims are the cases of dividend paying Fannie Mae
and Freddie Mac.If Christopher Cox was correct in his sec.gov press
release of July 15, 2008 (with link below) that shares of Fannie Mae
and Freddie Mac were 'counterfeited' or 'naked shorted' why did not
some shareholders come forward to claim they did not receive their
dividends ? This question is really very simple but may to too complex
for you Mr. Johnston.Maybe you are new to the SEC and didn't even
realize Cox claimed those dividend paying U.S. government connected
'public' companies shares were 'naked shorted' or 'counterfeited'.
But at least so far you all have not lost Christopher Cox's press
release of July 15, 2008 and I AGAIN provide you with the link below
and a copy of the complete press release where Christopher Cox claims
Fannie Mae, Freddie Mac,Goldman Sachs, Bank of America, UBS,ETC.,ETC.,
WERE VICTIMS OF SO-CALLED 'NAKED SHORT SELLING' ,a term that that
stock manipulators who coined or popularized it in 2002 -
particularly James Dale Davidson,Grant Atkins and Brent Pierce and
their NAANSS and later Patrick Byrne and a Mary Hellburn and their
NCANS that published a $100,000+ ad in the Washington Post in February
2005 addressed to W Bush and warning him of the 'dangers' of 'naked
short selling' to the U.S. stock markets(although NASDAQ now belongs
to the Sheik of Dubai) ,for the purpoe of distracting investors from
the fact that they were really running illegal pump and dump and thus
money laundering operations with unaudited shares that the SEC, for
reasons of its own, did nothing about !


What remaining question I am asking is either the evidence ex SEC
Chairman Christopher Cox based his claim on that Fannie Mae,Freddie
Mac,Goldman Sachs,etc., were 'naked shorted in the press release of
July 15, 2008 below so that I can present this to other concerned
parties or an acknowledgement that,( like Patrick Byrne and his NCANS
and James Dale Davidson and his NAANSS before that ) ex SEC Chairman
Christopher Cox and the Securities Exchange Commission has and had no
evidence at the time that the SEC and Christopher Cox released the
statement below to back up Cox's claim that Fannie Mae and Freddie
Mac were 'naked shorted'.By evidence I mean which market makers and
how many 'naked short' or 'counterfeit' shares did they have out on
each individual company,(particularly Fannie Mac and Freddie Mac but
all dividend paying companies named by ex SEC Chair Chris Cox in his
press release of July 15, 2008) and how long did the 'naked shorts'
or 'counterfeit shares circulate in the float(s),before real share
were purchased to replace them.And if indeed there was 'naked
shorting' or counterfeiting' of shares' how come all investors
received their dividends ?
Sincerely,
Tony Ryals

www.sec.gov/news/press...

SEC Enhances Investor Protections Against Naked Short Selling
FOR IMMEDIATE RELEASE
2008-143

Washington, D.C., July 15, 2008 - The Securities and Exchange
Commission today issued an emergency order to enhance investor
protections against "naked" short selling in the securities of Fannie
Mae, Freddie Mac, and primary dealers at commercial and investment
banks....
The SEC's order will require that anyone effecting a short sale in
these securities arrange beforehand to borrow the securities and
deliver them at settlement. The order will take effect at 12:01 a.m.
ET on Monday, July 21. In addition to this emergency order, the SEC
will undertake a rulemaking to address these issues across the entire
market.

"The SEC's mission to protect investors, maintain orderly markets, and
promote capital formation is more important now than it has ever
been," said SEC Chairman Christopher Cox. "Today's Commission action
aims to stop unlawful manipulation through 'naked' short selling that
threatens the stability of financial institutions. We will continue
our vigorous commitment to investors by working within the SEC and in
close cooperation with our regulatory counterparts to promote the
continued health and vibrancy of our markets."

The Commission's emergency order, pursuant to its authority under
Section 12(k)(2) of the Securities Exchange Act of 1934, will be
effective at 12:01 a.m. ET on July 21, 2008 and will terminate at
11:59 p.m. ET on July 29, 2008. The Commission may extend the order to
continue it in effect thereafter if the Commission determines that the
continuation of the order is necessary in the public interest and for
the protection of investors, but for no more than 30 calendar days in
total duration.

# # #

The securities identified in the Commission's order:

Company Ticker Symbol(s)
BNP Paribas Securities Corp. BNPQF or BNPQY
Bank of America Corporation BAC
Barclays PLC BCS
Citigroup Inc. C
Credit Suisse Group CS
Daiwa Securities Group Inc. DSECY
Deutsche Bank Group AG DB
Allianz SE AZ
Goldman, Sachs Group Inc GS
Royal Bank ADS RBS
HSBC Holdings PLC ADS HBC and HSI
J. P. Morgan Chase & Co. JPM
Lehman Brothers Holdings Inc. LEH
Merrill Lynch & Co., Inc. MER
Mizuho Financial Group, Inc. MFG
Morgan Stanley MS
UBS AG UBS
Freddie Mac FRE
Fannie Mae FNM


www.sec.gov/news/press...

2009 Nov 13 11:18 PM