Tom Ronk is a guy in Newport Beach who has been fighting against naked shorts for a long time. If you want to really dig into the issue of naked short selling, he's the definitive source.
Disclaimer: I know the man and can vouch for his legitimacy on this subject, but he's got some skeletons in his closet from manipulating Pink Sheets stocks.
I've been saying something similar for awhile. We don't lack laws, and we don't even lack some good laws. What we lack is the political will to enforce them. More specifically, our "leaders" lack the will (and motive).
He does know what he's talking about. I've spent 20+ years in finance and I know this sh*t really well. Ronk is a computer science PHD and a mathematical genius who has dedicated his life to the topic. He works out of his impressive garage in Newport Beach and he's got all the characteristics of a crazy hermit genius.
The problem is his skeletons involve integrity issues. I had to walk away from the project I was consulting with him on, and it was costly. I have still not recovered financially.
This seems like a good place to drop this link:
http://www.buyins.com/images/tomronk.pdf
Tom Ronk is a guy in Newport Beach who has been fighting against naked shorts for a long time. If you want to really dig into the issue of naked short selling, he's the definitive source.
Disclaimer: I know the man and can vouch for his legitimacy on this subject, but he's got some skeletons in his closet from manipulating Pink Sheets stocks.
Isn't this like every single other issue in the country --
naked short selling (election fraud ... illegal immigration ... etc.) is not legal but the laws are laughed off ?
I've been saying something similar for awhile. We don't lack laws, and we don't even lack some good laws. What we lack is the political will to enforce them. More specifically, our "leaders" lack the will (and motive).
He does know what he's talking about. I've spent 20+ years in finance and I know this sh*t really well. Ronk is a computer science PHD and a mathematical genius who has dedicated his life to the topic. He works out of his impressive garage in Newport Beach and he's got all the characteristics of a crazy hermit genius.
The problem is his skeletons involve integrity issues. I had to walk away from the project I was consulting with him on, and it was costly. I have still not recovered financially.