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  1. #1
    Troll Killer and best Snooper!
    I decide when the pigs fly!
    Rhea's Avatar
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    Wall Street's Naked Swindle
    A scheme to flood the market with counterfeit stocks helped kill Bear Stearns and Lehman Brothers and the feds have yet to bust the culprits

    I subscribe to Overstock's newsletter and there was a link to this article in it today. I'm horrified that something like this could happen and probably will happen again if restraints aren't enacted to prevent it.

    http://www.rollingstone.com/politics..._naked_swindle

  2. #2
    Affiliate Manager Jasonn's Avatar
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    Hard to believe that this is true....truly horrible if it is.
    Jason
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  3. #3
    Grandma broke her coccyx! Uncle Rico's Avatar
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    It is a long read, but a good article.

  4. #4
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    What caused the failure of BS & LB was they had to sell stock at anyprice to meet their margin calls since they could not get anymore money. As a result, millions of shares hit the market 'at the market' and no one wanted to buy because they did not know how many shares were coming.

    It was a domino event of mythic proportions caused by Paulsen & Bernacke being insanely stupid.

  5. #5
    Full Member TerriFalcone's Avatar
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    It's all about greed, stupidity and a lack of follow through with laws that already exist on the books. Nothing new here but enough to make me nauseous.
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