Richard Altomare Speech on Naked Short Selling (Part 1)

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, brokerage houses have been allowed to take advantage of.

With the recent collapse of many of our established financial institutions in the past few weeks, 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.

Category:

News & Politics

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• Richard
• Altomare
• Universal
• Express
• Naked
• Short
• Selling
• USXP
• VS.
• SEC
• fails
• to
• deliver
• phantom
• shares