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Naked, Short and Greedy

Wall Street's Failure to Deliver

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Naked, Short and Greedy

Von: Susanne Trimbath
Gesprochen von: Dr. Susanne Trimbath
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Über diesen Titel

Rigged financial markets and hopeless under-regulation on Wall Street are not new problems. In this book, Susanne Trimbath gives a sobering account of naked short-selling, the failure to settle, and her efforts over decades trying to get this fixed.

Twenty-five years ago, Trimbath was working “backstage at Wall Street” when a group of corporate trust specialists told her about a problem in shareholder voting rights. When she went to senior management at Depository Trust Company (DTC), then and still the largest securities depository in the world, they brushed it off, saying, “You can’t balance the world”. Ten years later, a lawyer from Texas would tell her that the same problem was about to blow up the financial markets: Wall Street brokers are using short sales and failures to deliver to grab the assets of American entrepreneurs.

This is a cautionary tale. What started as a regulatory failure turned into a regulatory crisis. Shareholder democracy is in shambles. The institutions that were established to correct a problem of trade settlement failures have instead exacerbated the problem. Global financial markets may not survive what comes next.

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The content ist great, but sometimes chapters seem oddly cut and a few lines missing at their ends.

Great insight into disaster through misregulation

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Dr Trimbath exposes and explains the regulatory crisis in the US stock market. Do you own US stock? If you believe so, then you should learn about the growing problem of phantom shares. There is a big likelihood that retail investors are holding big amounts of fake shares, that brokers and hedgefunds created through naked short selling and systematic failes to deliver. IE they are creating money by selling essentially nothing.

Investing in American stock? Listen to this book

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