by Whiskiz

For those who aren’t conscious and haven’t been following the story for the final couple of months, it’s a protracted story with a number of components – so right here’s the brief model to start with:

There’s one other firm in the identical scenario as us (closely bare shorted, backed by alot of worth traders on the lengthy aspect) and that firm went to merge with one other, non-public firm making their firm non-public as nicely – however it’s unlawful to have shorts in a non-public firm.

The SRO accountable for overseeing these things did a bunch of dodgy issues, with the final main motion being halting the buying and selling of the corporate 2 days early so their brief buddies by no means needed to shut! Then the corporate merged and went non-public anyway – with a ton of unlawful shorts and in addition lengthy traders now caught in limbo (who precisely are the actual house owners of the actual shares of the brand new firm – when there are such a lot of synthetics on the market? many extra multiples of the whole excellent float?)

For the longer model, main as much as the halt (a lot extra has occurred since then) right here’s an incredible firsthand accounting from the then CEO of the corporate himself:

Because the halt, the brief model is these lengthy traders did a tremendous job not letting this go and get swept beneath the rug, like most every thing else (together with our scenario) by:

1 – Submitting a number of lawsuits, together with from a lady that’s one of many househodl traders themselves, that occurs to even be working towards regulation! Who’s tremendous sensible and was in a position to struggle straight by their boilerplate and frontline defence “immunity” claims.

(The courtroom case continues to be ongoing, with a regulation agency that wanted to leap in on the SRO’s aspect as an alternative of the one rando individual they first despatched in with the boilerplate garbo preliminary response, who apparently didn’t even have the credentials to apply regulation in these courts on the time, till then lol)

Right here’s the small print about that doubtlessly most-promising courtroom case, with the depraved smaht househodler and the way it differs from the same old lawsuits:

2 – In addition they bought loud, so loud that even a responder from the FBI stated they’ve been getting a ton of communication in regards to the matter and that everyone, not simply within the FBI now is aware of about it and is making an attempt to determine what’s occurring. They despatched communication to FBI, native state reps, Congress, SEC, the SRO themselves you title it (Mainly the identical factor we did however i assume they simply couldn’t ignore it this time, because the firm is now in limbo so the scenario received’t disappear till it’s resolved come what may, making the whole system look worse and worse till it’s)

They’ve even made an enormous motion on Twitter, with frequently held Twitter House talks for updates and publicity, just a few massive names have gotten in on it with their huge twitter audiences and so it’s now to the purpose the place even Congress is definitely getting concerned.

3 – In addition they made some FOIA requests relating to the occasions main as much as the halt (like we additionally tried, however bought shutdown by the SEC?) which 3 months later (just lately) really got here again and makes issues even worse for the SRO with some actually damning proof, exhibiting that they knew there was heavy fraud beforehand then determined to halt issues and develop into accomplices to all of it, and that additionally the SEC was conscious of issues main as much as it with each their fraud departments being in communication!

Appears everybody knew about it however the public investing within the firm, as per ordinary………..

4 – They even staged a protest outdoors SEC HQ

So now right here’s the most recent replace and response from Congress:

That Youtube channel (and a number of others) can be nice for extra particulars on the whole matter, together with every thing that occurred after the halt firstly of this yr, to date 3 – 4 months later (so going again just a few months in video historical past.)

Apparently Congress additionally subpoenaed somebody from the SRO and so they tried to plead the fifth to Congress (LOL) citing the continuing lawsuits, in order that they’re trying as unhealthy to everyone as they really are, everyone seems to be getting in on it and possibly lastly some justice goes to get achieved.

To the purpose that CONGRESS IS NOW LOOKING INTO REFORMING REGULATION SHO AND NAKED SHORT SELLING REGULATION!

Which is the most effective plan of action as a result of they’re doing this market large, which is ruining peoples’ lives market large and doubtlessly creating systemic and IDIOSYNCRATIC dangers market large, whereas it’s already able to implode from like 20 different issues (due to different abuse of regulation and laws or lackthereof, simply, like, this………)

So these guys are ACTUALLY IN THEIR END GAME, it seems to be just like the market cartel are usually not going to get away with it this time, and laws as we all know it might change lastly to treatment this blight on the whole lot of the US markets and its economic system!