Perils of Naked Short Selling – Pt 6

Posted on August 12, 2011 by drlove 6 Comments

Richard Altomare on The Perils of Naked Short Selling – Part 6

RICHARD ALTOMARE, prominent whistleblower for over 10 years on the perils of Naked Short Selling gives a 34 minute speech in 2007. More than a year later, we find that naked short selling is not only real, but has affected our trading and financial institutions to the extent that the SEC had to enforce an across the board ban of the act of naked short selling, fails to deliver, phantom shares, counterfeit shares, shares you do not have to own to legally buy and sell.

Naked Short Selling is estimated to have put out of business over 6,000 small public companies in the past 15 years, and has been a loophole regulators (SEC), market makers, Hedge funds and brokerage houses have been allowed to take advantage of.

With the recent collapse of many of our established financial institutions, the ban from the SEC, and on going investigations, it is evident that the public still needs to be educated on the perils of this illegal act that needs to become main stream news.

6 Comments

  1. Lucy
    1839 days ago

    I’m impressed by your writing. Are you a professional or just very konweldgbeale?

    Reply

    • richb
      1784 days ago

      Thank you for the compliment. There are several of us who have created all the content on this website. It would be proper to say that we are all a bit of both. Thanks again!

      Reply

  2. jersey
    1560 days ago

    Is this the end of the road? It’s been awful quiet here. From a USXP shareholder

    Reply

    • richb
      1559 days ago

      Not al all Kathy. We are working diligently on the upcoming filing with the U.S. Supreme Court – Court of Claims which we believe will be the final vindication of Richard Altomare and USXP, and hopefully resulting in a settlement with the SEC for their destruction of USXP and making the stockholders whole once again. 2013 promises to be the year when we will be able to ressurect USXP and continue what Rich Altomare started so long ago. Keep your fingers crossed and prayers are always appreciated. As things begin to happen and progress, we will then start posting updates on the web site. For now, the filing with the Court of Claims and the numerous re-writes of the screenplay of “SOLD SHORT in America” in preparation for the start of filming the movie are taking up all of our time and we have, indeed neglected the website … just for now.

      Reply

  3. jersey
    1559 days ago

    Hi Rich B,

    Sounds promising! Try to keep us updated the best you can and thank you very much for the quick reply. Would you mind if I posted what you said on a few pro-boards? There are other shareholders that would like to be updated as well. Thank you!

    Reply

    • richb
      1559 days ago

      Kathy,

      We would be very pleased if you would share the response I sent you with any/all USXP shareholders. Feel free to post it as you see fit.

      Thank you for your continued support!

      RichB & RichA

      Reply

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