296: The SEC And The IRS

 I just wonder who in this country sat and thought okay we probably have the most significant individual wealth concentration in the world and they control that much of the system so lets assign just minor subsections of the bigger system which itself they control to account for those guys in the two things that give them their power, financial securities and money? Oh, and then lets also leave them ridiculously unwatched? 

Although beyond how I think the corruption guy made it seem behaving sarcastically and less professional toward me in some of the letters I received from it more than a decade ago, I still do not have things on the IRS like I have on the SEC. Actually, even without any oversight effort the case of Madoff should have been by itself an unforgettable eye opener about the corruption in this entity even for those who did not have my experience with it. But heads were, probably in a big part also because of corruption, turned away from that sight.

Hey corruption guy, are you enjoying illegally borrowing my shares and selling them to others? Any law or regulation in the market not a joke to you?

By the way, I remember about the second stock which I mentioned in POST 295   of this blog how when I was trying to buy it sometimes this corruption guy stops my order from execution for no apparent reason even though my bid satisfies  the ask.         

295: Lending You Shares

With all the corruption and control around, generally and  also the SEC specifically, how far is it beyond ridiculous to have enough faith that there is really a sufficient oversight on brokerages not to lend your shares to the like of this corruption guy if you have no margin loan? Previously I told the story of the stock (the same stock for which I filed my first lawsuit against this guy) which I noticed when buying it later how the corruption guy more easily than earlier sells me big quantities of it at cheap prices. So I doubted that he really sold me those shares and to test that I tried to transfer those shares. That very routine and guaranteed to work task failed with every brokerage I tried and for justifications that sounded at the top end in being just made up for this request. Much later I had a similar suspicion about another stock I held at the same broker (Fidelity) and tried the same test and again could not do the transfer. 

So yesterday, I wondered how, in addition to everything else, if this corruption guy can make such naked shorting and keep my account with years and years without really holding the shares I am supposedly bought, is he really unable to make brokerage firms lend him shares even though the holders of those shares have no margin debt? Then suddenly a connection came to my mind between this thought and all the callings I have been getting from a broker at one of the firms where I hold my stocks. Not only I have never gotten as much callings from other brokers before but the guy calling never says why he called in the messages he leaves. That sounded a good fit for testing whether I have intention in selling my shares or that they will remain in my account and therefore available to be lent to the corruption guy.