It’s about time!!!

C. Austin Burrell

Last week, in a speech given in West Palm Beach, Attorney General Holder announced 5,000 pending indictments
by the Department of Justice of individuals linked to financial
institution fraud as part of an overall targeting of market
manipulators and cheaters across the board. His speech did not specify
for the audience the type of targets the DOJ was focusing on, leaving
open the most important questions about such an announcement. Who is
being indicted by type, and for what kind of specific misconduct?
I have devoted thousands of man hours over 10 years to try and
work with and within the legal system of the United States to get its
principals to focus on the rape of the American investors stealing literally trillions of dollars,
through conduct that could only be identified legally as sedition. Ten
of thousands of securities issued by thousands of legal issuers have
been manipulated, counterfeited, and stolen in virtually every form of
security bought and sold in every market in the world. I pointed out to
many of the responsible government oversight and regulatory officials
that various tactics were being strategically employed to launder money
for the purpose of stealing securities and evading taxes.
I broke this down into a single memo of eight bullet points for
not only these parties but also for numerous journalists, lawyers,
victims, government officials and more, with a uniform silence from
them with only a handful of exceptions. The summation of this memo was
that criminals both domestic and global were tactically manipulating
all forms of assets, engaging in various forms of counterfeiting
facilitated by vested public interests, in a huge global conspiracy
lined inextricably to all forms of organized crime, again, done
strategically to launder U.S. assets into foreign accounts for the
purpose of evading all forms of taxes, both legitimate and illegitimate.
The enormous size of the thefts here (in the trillions of dollars)
threatens U.S. national security, and global stability. We have seen
the dollar implode, retirement accounts savaged, and major institutions
brought to their knees and worse, much worse in many cases. These
thefts have been implicated in the destruction of investor confidence,
and there is no form of security that has not been impacted, from
stocks and bonds, currencies, physical and forward commodities,
agencies, to commodities, and more.
These same thefts could never have been executed except with the
wholesale cooperation of not just hedge funds, and investment banks,
but only with the implicit cooperation, support and protection of every
form of financial service monopoly involved in trading, clearance and
settlement of securities globally in all forms of assets along with the
major international money center banks, a pliant press, and a corrupt
research industry perforated by criminal interests who pay top price
for the purchase or sale of research for securities they specialize in.
Oversight provided by our U.S. government branches and agencies hasn’t
been deficient, it has been non-existent, a canard by every perspective.
I have been asked to identify some representative names from each
category of possible organizational involvement. What I have felt
comfortable doing is to specify first the types of organizations
involved, the people within those organizations involved, the
facilitators of such behavior, beneficiaries of the manipulations, and
more as appropriate.
I can start with some of the highest profile hedge funds,
including in particular those involved with the most aggressive support
of naked short selling of all types of securities, their prime brokers,
specific exchange officials, officials of clearance and settlement
organizations for all types of securities both domestic and
international, organized crime entities domestic and international,
supporting regulators at federal agencies and quasi-agencies,
publications and journalists, research enterprises, message board
operators, paid pumpers, paid bashers and other lower life forms, and
more. All of these activities have coordinated their efforts to produce
the maximum results possible. No other explanation makes sense but such
coordination between the players.
The hedge funds that have to be targeted include the largest and
highest profile ones, particularly those with admitted links to short
selling syndicates, to paid adversarial negative research reports, to
significant recurring short and long term fails to deliver, and to
convicted felons, such as the now legendary Anthony (Amir) Elgindy.
Journalistic enterprises would be those who participated in accepting
or facilitating communications between known manipulators, who
championed illegal short sellers against legitimate companies, who used
or permitted use of restricted insider information or false information
without broad dissemination, or who acted as pure touts, to facilitate
retail buying of companies targeted for short relate bankruptcies, or
who induced large scale selling not supported fundamentally, for PIPES
financiers, and more.
The next list would be the Prime Brokers and major hedge fund
specialty clearance and settlement operations that were known to
facilitate illegal trades, front running, insider access to order flow,
and related conduct. A final broker list target would include those
brokers who specialized in PIPES transactions for customers whose
companies’ stocks were manipulated before, during and after the PIPE
issuance.
In many of the cases, U.S. government regulators, particularly the
SEC and FINRA engaged in conflicted behavior with professional
manipulators, who used their conflicted cooperation to obtain
protection as confidential informants or cooperating witnesses in
ongoing cases. Related to this focus would be the necessity to
determine why super-ceding indictments proceeded from virtually none of
the cases since the Bermuda Short Sting Cases, with the exception of a
few minor indictments related to Anthony Elgindy.
The final focus would need to be on facilitators of stock and bond
price manipulation which permitted strategic failures to deliver
securities beyond reasonable time frames. This would include the major
exchanges, major clearing firms globally, prime brokers, secondary
brokers, securities regulators both domestically and internationally,
specific publications and journalists, paid bashers, and many more.
Many of these names have been in the open for years involving
active organizational defenses of those guilty of malfeasance. Those
names have been provided repeatedly to such entities as the Office of
the Attorney General of the U.S., to the heads of the SEC, FINRA, DTCC,
and more, the US Senate, the House of Representatives, various federal
and state task forces investigating financial fraud, the courts,
including the Supreme Court, state attorneys general, and more, many
more repeatedly over 12 years and three administrations.
Too much has been given to too many about too much fraud for any
plausible deniability to remain. The systems markets depend on must be
flushed like a rat and vine invested sewer line. Anything short of that
will dampen up the system to a continuing boom and bust cycling that
will never end, but worse, will likely collapse as frustrated investors
flee in droves. Our capital formation process is contaminated enough
without stopping this now. Clean this up before we see the
start of outright revolt. Our U.S. government officials must be
reminded this isn’t their money.
Rather, they are parasites
providing services for which the best and the brightest are not suited.
Despite prayers to the contrary, the best and the brightest in our
government are not always the winners politically. They want this
changed as much as the American people do.
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