Kaboomba

Fund Managers to Fight Short Selling Disclosure Rules

The real problem embedded within our system lies at The Stock Clearing Corporation where every day billions of dollars worth of equity trade "settle" without actually delivering real shares. To explain, I purchase "shares" in company X that appear in my account immediately. T+3 they settle the trade by deducting money from my account. Daily, TSCC chooses to issue IOU's in lieu of actual shares. The IOU's look exactly like real shares and because of this I have no way of knowing if good delivery was made or not. This is intentional fraud justified by regulators as "necessary to maintain orderly markets". I ask what ever happened to basic property rights? Who are our regulators kidding when they claim to promote transparency? Basic property rights demand that I get what I bought---not and IOU. Transparency demands that I be informed about the fictitious shares. In this light I feel that A. Tell me if my property i/e shares have not been delivered in good form, B. Allow me the authority to force a buy in which presently sits with the brokerage firm, C. Demand that my monies be left in my account until I get what I bought. It seems so obvious yet over the last decade of excessive leverage and greed basic property rights have been trampled on to the collective amount that reaches into the trillions. This system makes Bernie look like a pauper! Currently TSCC is owned and controlled by a select group of securities firms that have profited greatly by perpetrating this fraud on unsuspecting and uninformed investors and IT MUST BE STOPPED!