by Whiskiz

For those who aren’t conscious and haven’t been following the story for the final couple of months, it’s an extended story with plenty of components – so right here’s the brief model initially:

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, personal firm making their firm personal as effectively – but it surely’s unlawful to have shorts in a non-public firm.

The SRO liable for overseeing these items 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 personal anyway – with a ton of unlawful shorts and likewise lengthy traders now caught in limbo (who precisely are the true homeowners of the true shares of the brand new firm – when there are such a lot of synthetics on the market? many extra multiples of the complete excellent float?)

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

For the reason that halt, the brief model is these lengthy traders did an incredible job not letting this go and get swept below the rug, like most the whole lot 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 remains to be ongoing, with a regulation agency that wanted to leap in on the SRO’s aspect as a substitute of the one rando particular person 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 main points about that probably most-promising courtroom case, with the depraved smaht househodler and the way it differs from the same old lawsuits:

2 – In addition they obtained loud, so loud that even a responder from the FBI mentioned 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 attempting to determine what’s occurring. They despatched communication to FBI, native state reps, Congress, SEC, the SRO themselves you title it (Principally the identical factor we did however i suppose they only couldn’t ignore it this time, for the reason that firm is now in limbo so the scenario received’t disappear till it’s resolved someway, making the complete system look worse and worse till it’s)

They’ve even made a large motion on Twitter, with recurrently held Twitter Area talks for updates and publicity, just a few huge 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 concerning the occasions main as much as the halt (like we additionally tried, however obtained shutdown by the SEC?) which 3 months later (just lately) truly got here again and makes issues even worse for the SRO with some actually damning proof, displaying 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 standard………..

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 also be nice for extra particulars on the complete matter, together with the whole lot that occurred after the halt at the beginning of this 12 months, to this point 3 – 4 months later (so going again just a few months in video historical past.)

Apparently Congress additionally subpoenaed somebody from the SRO they usually tried to plead the fifth to Congress (LOL) citing the continued lawsuits, so 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 carried out.

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

Which is the perfect plan of action as a result of they’re doing this market large, which is ruining peoples’ lives market large and probably 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 appears to be like just like the market cartel should not going to get away with it this time, and laws as we all know it could change lastly to remedy this blight on the whole thing of the US markets and its economic system!