And just when I thought things couldn't get any more ridiculous, Barry Ritholtz showed up.
Today, short-selling hedge fund Rocker Partners paid Overstock.com $5-million to settle the lawsuit filed against them in August of 2005. Rocker Partners also entirely dropped its own countersuit. This is a major victory for all public companies targeted by bear raiding hedge funds.
There is some evidence suggesting the federal government might be spending tens of billions of dollars to deal with the accumulation of failed trades caused by illegal naked short selling. If that's true, we're probably screwed.
Over the next few minutes, you’re going to learn something you should have already known, but almost certainly do not. You’re going to learn more about what really sparked the global financial meltdown. You’re going to learn that it was a criminal enterprise. You’re even going to learn who might have been responsible.
This episode examines the state of the news media, and the apparent bias business writers have against stocks targeted by illegal naked short selling hedge funds.
This episode includes clips of Patrick Byrne’s recent interview on the Terry Gilberg radio talk show, in addition…
In this episode, I demonstrate the existence of illegal short side stock market manipulation, and point to recent…