NOT IF

yo...clobberin time...innit!

.

PALOOKAVILLE FINANCIAL

.

capitulation day posponed

.

...in palookaville today...

.

...the truth about this 'recovery'...

.

...is leakin out...

.

THIS TIME IT'S THE SAME

.

...the debt is not back...

.

...it never went away...

.

...the politix mega-d-it-up...

.

...to bail out the bond holders, the banks, and the pals...

.

...now the drug is wearing off...

.

...and...

DON'T LOOK DOWN

.

...you cannot reduce debt with debt...

.

...you can fool most of the people...

.

...most of the time...

.

...now is not the time...

.

...

DANSE MACABRE

yo!...buggar thy neighbor...innit!

PALOOKAVILLE FINANCIAL
...capitulation day postponed...


...here in...

...palookaville...

...all bets are hedged...

...as we await the resumption of normal service...

...a V shaped recovery has been achieved in the financial markets...

...and the puppet masters have made loads-a-money...


IT TAKES ONE TO TANGO

...the states within the Eurodisunion...

...are locked in a dance of death...

...those that sell and those that buy...


...those who sell will not buy and those who buy must borrow to do so...

...those who lend fear they will not be repaid...

...the price of borrowing must rise for those who buy...

...those who sell...will not lend...

...round and round we go...

...until the music stops...

...when all must find a seat at the table...

...or fall to the floor...

...and must then sit out the game...

...in the corner...with the dunce's hat...


WE TWO KINGS


...Chi Na and Berlin...

...are kings of the castle...

...all the rest are dirty rascals...


STANDS WITH A BOWL

...our great leader...

...is asking for more...


...more time to rule...

...more money to spend...

...he can't get enough from all us palookas...

...so he stands with a bowl...

...begging for more money...

...so that he can pay the interest...

...on the money he has borrowed...

...mr bumble the beedle...

...wants to give him to the undertaker...

...who will bury him for good...


FATAL ATTRACTION

...but he just keeps emerging from the dead...

...consumate zombie that he is...

...the people of palookaville...

...will vote for death...

...so long as somebody else will pay for it...

BAGPIPE MUSIC

It's no go the merry-go-round, it's no go the rickshaw,
All we want is a limousine and a ticket for the peepshow.
Their knickers are made of crepe-de-chine, their shoes are made of python,
Their halls are lined with tiger rugs and their walls with head of bison.

John MacDonald found a corpse, put it under the sofa,
Waited till it came to life and hit it with a poker,
Sold its eyes for souvenirs, sold its blood for whiskey,
Kept its bones for dumbbells to use when he was fifty.

It's no go the Yogi-man, it's no go Blavatsky,
All we want is a bank balance and a bit of skirt in a taxi.

Annie MacDougall went to milk, caught her foot in the heather,
Woke to hear a dance record playing of Old Vienna.
It's no go your maidenheads, it's no go your culture,
All we want is a Dunlop tire and the devil mend the puncture.

The Laird o' Phelps spent Hogmanay declaring he was sober,
Counted his feet to prove the fact and found he had one foot over.
Mrs. Carmichael had her fifth, looked at the job with repulsion,
Said to the midwife "Take it away; I'm through with overproduction."

It's no go the gossip column, it's no go the Ceilidh,
All we want is a mother's help and a sugar-stick for the baby.

Willie Murray cut his thumb, couldn't count the damage,
Took the hide of an Ayrshire cow and used it for a bandage.
His brother caught three hundred cran when the seas were lavish,
Threw the bleeders back in the sea and went upon the parish.

It's no go the Herring Board, it's no go the Bible,
All we want is a packet of fags when our hands are idle.

It's no go the picture palace, it's no go the stadium,
It's no go the country cot with a pot of pink geraniums,
It's no go the Government grants, it's no go the elections,
Sit on your arse for fifty years and hang your hat on a pension.

It's no go my honey love, it's no go my poppet;
Work your hands from day to day, the winds will blow the profit.
The glass is falling hour by hour, the glass will fall forever,
But if you break the bloody glass you won't hold up the weather.

Louis Macneice

	Malcolm Evison (9/16/2005 9:59:00 AM)
	Humorous as it may be with regards to Class and social mores, flirtations with theosophy etc., one is brought up with a start... the realization that this was written in 1937 and, the more specific social unrest in Spain and Germany... the fall of the glass is unstoppable!

...petey...

the more things change...innit!

ONCE-UPON-A-TIME IN THE BUST

yo!...going, going, gone...innit!

PALOOKAGRAD FINANCIAL

capitulation day

+292

...once-upon-a-time...

...here in...

...palookagrad...

...there was a tower called...

...................

...in those olden days there was a nasty witch...

...called bust...

...and this bust threatened to bring down the owners of the great tower...

...for some while the tower wobbled...

...and all the soothsayers argued about whether or when it would fall...

...about the same time there were rumours about an insurance company...

...that we worked in...

...the AAA magic that protected the company...

...was wearing out....

...due to non-performing...

...property investments...

20% OF THE SALES FORCE BRING IN 80%

OF THE BUSINESS

...the big hitters...

...had hit big...

...and made off with their commissions...

...the empty malls and towers...

...sucked the life out of the insurance company...

...AAA to AA+ to A to B...

...well you can guess the rest...

...and of course the tower fell as well...

NOTHING LIKE THIS COULD HAPPEN TODAY

...Insight: US property market central to economy...

Gillian Tett : ...So will US property prices stabilise? Not if you believe a startling presentation I saw this week from a large, global financial group. This particular bunch of analysts – who have done a remarkably good job at predicting the credit crisis during the past four years – are currently warning their clients to expect a peak-to-trough fall in US residential prices of more than 40 per cent in this cycle.

The good news is that in some US regions, prices have already fallen so sharply – often by more 30 per cent – that property is already very affordable, relative to incomes and on a historical basis.

But the bad news is that houses are not yet cheap enough to prevent more price falls. On the contrary, this particular team of analysts thinks that when the problems of excess house inventory and rising unemployment are added into the model, average US house prices will still fall by another 14 per cent in the next few years – on top of the declines seen so far.

That headline figure conceals some startling regional discrepancies. Colorado is reckoned to be through the worst. In New York, though, the pain has barely started. Prices there are projected to decline by another 30 per cent or so. Taken as a whole, these projections imply that about 25m households in America end up in negative equity.

This projection is gloomier than those made by the US government and many large US banks. But the 25m number is currently being echoed by other investment groups, such as Pimco. If it turns out to be correct, it raises two crucial questions. One is the degree to which the western banking system could face a secondary round of real estate losses (particularly as these analysts are even more alarmed about the commercial property outlook than the residential sector.)

But the second fascinating question is what further house prices falls might do to consumer psychology. America has never experienced negative equity on this scale before. Thus nobody is entirely sure how households might respond. Will they default en masse? Will voters become so angry that they demand more populist public bail-outs of the housing sector (or financial reform)? Will consumers cut spending further?..." Gillian...

GET OUT OF DEBT FREE

yo!...debt pays...innit!

PALOOKAVILLE FINANCIAL
capitulation day
+275...


...struth...


...an they said the bum was in on housin...


...'We'll pay you £25,000 to take your mortgage elsewhere'...


...

Remorse : The New Bull Market

yo!...pitchforks averted...for now...innit!

PALOOKAVILLE FINANCIAL
capitulation day
+231...


...here in palookaville this morning...


...the talk is all about...


...forgiveness...


SERIOUS REMORSE


...the recession...


...caused by the ending of polititions expence claims...


...is almost over...


...as new money will be created...


...by...


...increasing their salaries...


...to compensate for their loss of privilige...



THE GOOD NEWS


...is that...


...this will increase their pensions...


...and this is a much more secure form of income for them...


...maybe now that they won't be spending all their time...


...working out how to claim maximum benefits...


...they will be able to find jobs for the 2.2 million newly unemployed...



TAKE AND GIVE


...the great debt...


...caused by the massive cost of MP's expences and pensions...


...is to disappear...


...they are to give back all of their extravagent takings...


...the national debt...


...will now not be...


...£240,000,000,000,000...


...after all...

THE WRONG KIND OF MONEY

yo!...casey jones...innit!

PALOOKAVILLE FINANCIAL
capitulation day
+131...


...the runaway train went over the hill...

...an she blew!..


...here in palookaville the train has left the station...

...unfortunately it's journey has been delayed...


...the engineer had prepared the passengers for all eventualities...

...tickets had been purchased well in advance...

...with money that had been created by the palookaville fed itself...

Down Week for Freight Traffic on U.S. Railroads



THE WRONG KIND OF 'FLATION


...the train is now not expected to reach it's destination...

...the wrong kind of money...

...has caused deflation...

...which in turn has bust the nation...

...but folks will still expect inflation..

...leading to a conflagration...

bloomberg : ..."Deflation was the growing concern for investors in 2008 as government bond yields fell to historic lows in December, the Reuters/Jefferies CRB Index of commodities tumbled 53 percent since July and home prices plunged 18 percent amid a deepening recession. Now, the bond market is saying Federal Reserve interest rates at zero percent, President Barack Obama’s $819 billion planned stimulus package and $8.5 trillion of U.S. initiatives to revive credit markets will reignite inflation."

“When the Fed gets finished here they will have an inflation nightmare on their hands,” said Mark MacQueen, who helps oversee $7 billion as co-founder of Sage Advisor Services Ltd. in Austin, Texas. “There is a lot of downside in conservative government bonds.”

SEESAW MARGERYDAW

market ticker : ..."If you're wondering why the stock market had its worst January on record, you need to talk to Treasury about its extraordinary issuance of debt that is crowding out money in the stock market, along with the government's scaremongering. And if you're wondering why we had a crash in September and October, go talk to Bernanke, who intentionally drained the slosh in the system as Congress was debating the EESA bill - a quite-transparent (and successful) attempt to cause a massive stock market sell-off to support what he and Paulson wanted - $700 billion in taxpayer funds for their banker buddies and suppression of Treasury yields."...


petey :

...rumour has it that...

...bonds aint what they used ta be...

...

ONCE-UPON-A-TIME IN THE EAST

yo!...bad day at black rock...innit!

PALOOKAVILLE FINANCIAL
capitulation day
+122...


...in palookaville everybody goes to meet the train...

...so you can understand our dismay when we are met there by four horsemen...

...three of em are wearin long dusters...


...the fourth is roy rogers...


...the american engine has failed to decouple from the eastern train...

...an now it looks like they all goin over the cliff together...

...the stuffed shirts have caused all tomorrows spending to be spent yesterday...

...an now china is full of dollars an we are full of sh*t...


ALL TOMORROWS PARTIES


...roy says that the west is finished and in particular...

...that the pound is sunk, the oil all gone an a banks in debt...


...sell evva british thang ya got boys...fill yo boots wi oil an gold...

...this sukka goin dahn...innit!...


AN IT'S AN EARLY BATH FOR STERLING


...the pound has taken an early bath...

...and everyone is laughing they bollox off...

...but the guys in the dusters is waitin fo the train...

...they have blown the bridge...

...and the great eastern is goin over...


...seems like they chinese was balancin on a wooden cross in a spaghetti eastern...

...dude with the wicked smile was playin a harmonica...

...only it was a double cross...



THE GHOST OF ELECTRICITY

Lights go out across Britain as recession hits home

Electricity demand falls as economy slows at fastest rate since 1980

China Powers Down..."The global recession has meant a big decline in demand for iron and steel. That has meant sharp decreases in electricity demand from China’s metal producers, which have been leading the country’s demand for increased electricity production.For November, the Chinese government expects total power generation to fall by 7 percent compared to November 2007. That drop follows a 4 percent decline in October. This will mark the first time in recent history that China’s power demand has fallen for two consecutive months. Falling power demand mirrors a decline in exports. In November, China’s exports fell by 2.2 percent compared to November 2007. That’s the biggest year-over-year slide in exports since April 1999. Foreign investment is also falling. According to the latest Chinese government statistics, foreign direct investment fell by 36.5 percent in November, when compared to the year-earlier period."


THE DOLLAR YOU GET YOU DESERVE


...in china they know a thing or two about dollars...

...they have all of the real ones in a box under the bed...

...peraps they know a way to enhance their value...

...maybe then sell a few...


IN THE WHITE ROOM...WITH BLACK CURTAINS


...here in palookaville the train is late...

...come to think of it...

...so is the ship...

SANTA CHECKS IN

yo!...back inna saddle...innit!

PALOOKAVILLE FINANCIAL stardate : capitulation day+105



...evvabody know they aint no sanity clause...

paintybynumbers : yo beuly!..yo said santa lookin pooped aht...innit!..onna 24th dec...

beulah : f**k off paintstain yo bein a pain!...anyway...wottin doin from here on in?

NB chart is uk based and funds reflect the effect of currency movements

charts from equitable life are used as an illustration of sector performance comparisons only
and not as a commentary on their investment performance. no opinion is offered here either for or against equitable life as a pension company...

...they just happen to have these charts...
...which i find very helpful...
...when comparing sector fund performance...

...THEY IS A DISCLAIMER AT THE TOP O THE PAGE...

...THIS AINT ADVICE AN WE AINT IN BUSINESS...

...WE JUS SUCKERS LAK YOU...

...PISSIN INNA WIND...

LOOK BACK IN AWE

yo!...look forward in fear...innit!

PALOOKAVILLE FINANCIAL stardate : capitulation day+86


"2008: A year to forget, but one we won't be allowed to for a long, long time

This year has been a simply stunning one in financial markets."

terry smith : ..."I think that the downturn will be much more prolonged than usual. The average for the USA for 1854-2001 was 17 months, but the Great Depression of 1929-33 lasted 43 months and the grandaddy of recessions in this period was one which lasted 65 months from 1873-79. It would be wise to prepare for a long siege....

... This is why the next battle will be over the creditworthiness of governments and the strength of currencies. We have already seen the collapse of Iceland caused by its banks having liabilities which its economy couldn't guarantee. It may be tempting to see Iceland as an isolated and extreme case, but don't be fooled. Any country and currency is at risk which has guaranteed bank liabilities which are large in relation to its total economy....

...However, for me, the $64,000 question is not how long the recession will last or whether one or more currencies or governments' credit will be severely damaged; it is whether we will get deflation or inflation as a result of this crisis...

...To put it simply, a government can always raise interest rates until they have stifled inflation. But you cannot cut rates below zero. Japan's long deflation and recession after its asset bubble burst in the late 1980s shows how ineffective government policies can be against deflation. But one thing is clear: both inflation and deflation are pernicious, and we're definitely heading for one or the other, or maybe both in succession. sunday telegraph


"Experts can only guess as we head into the unknown"

irwin stelzer : ..." But we have moved beyond the range of what we know about credit crunches. All we know is that the results so far have not matched the predictions of the proponents of these policies. Which is one reason why Paulson decided not to use the second half of his $700 billion, and to leave it to the next Congress and the incoming president to decide whether it might not be better to pass the remaining $350 billion direct to homeowners who are falling behind with their mortgage payments. Surely that would reduce foreclosures and repossessions, thereby easing the glut of unsold homes, raising prices and helping to bring the recession to an end. Surely? Better, perhaps....

...the following opinions are best guesses based on the imperfect analytical tools in this economist’s tool kit, and a good deal of real-world experience.

So here goes: the second tranche of $350 billion should be aimed at easing credit markets rather than specifically at the housing market; the GM bailout will fail because the parties won’t give up enough to make the company competitive; the dollar won’t sink because there are few places investors can trust as much as the United States, even a heavily indebted United States. That much I know — well, think I know. sunday times

petey : ah really laks irwin man...

beulah : he such a gent...

spider : he a head...man!

zooneh : i reads im alla time

opkin : go! irwin...

laverne : other dude ok too...innit..!

SANTA, SANTA ONNA WALL...

yo!...jingle bells...innit!

PALOOKAVILLE FINANCIAL stardate : capitulation day+82


petey : alla wan fo Christmas is me two fron teef...oh...anna rally inna shock an scares...


Q Ratio Signals ‘Horrific’ Market Bottom, CLSA Says

charts from equitable life are used as an illustration of sector performance comparisons only
and not as a commentary on their investment performance. no opinion is offered here either for or against equitable life as a pension company...

...they just happen to have these charts...
...which i find very helpful...
...when comparing sector fund performance...

...THEY IS A DISCLAIMER AT THE TOP O THE PAGE...

...THIS AINT ADVICE AN WE AINT IN BUSINESS...

...WE JUS SUCKERS LAK YOU...

...PISSIN INNA WIND...

BEULAH'S DAY OFF

yo!...honey i shrunk yo stash...innit!

PALOOKAVILLE FINANCIAL stardate : capitulation day+78


...in the loft...no one can hear you scream...

...the only sound is that of the gently fallin dust...

...petey anna crew is gone ta town...

...anna loft is empty...except of course fo beulah...who is takin this opportunity ta...

...check out petey's mac...fo cheatin or gamblin or...WTF is appnin ta her pension stash...


beulah : hi!...it me...BEULAH..!...that painty bastard be gone xmas shoppin atta 5 an dime...

laverne : (aht inna yard...firin up a still)...cheap n lazy...cheap an lazy bastard...

beulah : at somebitch gotta be upta sumpin...allas onna mac an chattin wi iz mates...

laverne : wot fo i gotta chop wood fo a still?

beulah : caint see no cheatin emails...an he aint gamblin...poker faced git!

...lets see if he don f**ked up me stash?...click...click...click...

beulah : WTF..!...wottit all mean?...wots me stash in?...
beulah : damn me eyes an blast me stupid curiosity...killed a cat...innit...

...caint let the git know i wuz spyin onnim... but mebbe i wuz...

...better off not knowin...hope ta God he...hedged my bets...


peteypainty : y'all don pay no tention ta lil ol beulah nah...she don mean no harm...

...she jus lak alla pension suckers out there...hopin fo a best...

...while...fearin fo a worst...

...fact is...alla suckers gotta watch they own backs...an guard they stash...

...nuthin stays the same fo long...

...ya gotta know when ta hold em...an when ta fold em...

...the politix gotta index linked guaranteed stash...so they don care...

...the proper bollox...they jus gotta fill column inches...

...an deliver suckers ta a advertisers...

...that jus leaves you...sucker!

charts from equitable life are used as an illustration of sector performance comparisons only
and not as a commentary on their investment performance. no opinion is offered here either for or against equitable life as a pension company...

...they just happen to have these charts...
...which i find very helpful...
...when comparing sector fund performance...

...THEY IS A DISCLAIMER AT THE TOP O THE PAGE...

...THIS AINT ADVICE AN WE AINT IN BUSINESS...

...WE JUS SUCKERS LAK YOU...

...PISSIN INNA WIND...

THE FUTURE IS NOT WHAT IT WAS

yo!...crystal bollox...innit!


PALOOKAVILLE FINANCIAL stardate : capitulation day+56


...show me the way to go home...ahm tired an i wanna go ta bed...

...the story so far...

...a Christmas song is jangling inna background as George Baily careers across the slushy boulevard of Bedford Falls...

...he wishes he hadnay been born...

...harry Potter wants ta rename Bedford Falls...PALOOKAVILLE...

...Potter has magicked away the credit from the thrift that Baily runs...

...the stupid shmuck thought that ordinary people could profit from home ownership...

...wotta dunce!

...the wand was really the handle of the one armed bandit from the Vegas FED...

...Potter made it lever up the mortgage market...credit became the oil of the economic machine...

...then, at holiday time, while every one was out buyin stuff...
...potter waved the wand an the credit disappeared...

...puff went the smoke an mirrors...sh*t went the bloggers...jingle went the mail...

beulah : aye...we're aaalll...doooooommed......dooommed ah tell ee..


THE FUTURE THAT WAS

...people believed in the bubble an cashed in their paper gains on their homes as if they would keep on growing forever...

...Potter has now got them by the short an curlies an is lookin forward to explosive rental growth...

...he has been helped by the governments as they needed him to run this sh*t in order to maintain the illusion of prosperity upon which the voters smoked...

...now down has come cradle...baby an all...the keys is inna mail a jinglin an a janglin...

...an a further a property values fall...the further a debts rise...the bollox believe that things will bottom without the value of houses bottoming...

...well...good luck with that!...

peteyMacNeice : ..."the glass is fallin hour by hour, the glass will fall fo evva...

...but if you break the bloody glass...you'll no hold up the weather...

THE AVENGERS TAKE OVER..!!!

GREY HOUSE lawn PALOOKAVILLE stardate capitulation day +3

it lookes like the three stooges + someones brother-in-law standing outside the french doors to the greyhouse garden....giving a press conference onna state o a union after the blitz.

DOCTOR DOOM has been attacking the western economy with anti-money created out of nowhere by the one armed bandit atta LAS VEGAS FED... left THERE, as it turns out, fo a apes to find... by none other than DD hissel.

the anti-money has reacted with the ponzi-money in WALL st. to cause a massive deleveraging black hole that is turnig banks inta fallin dominoes and now the three stooges have asked the FANTASTIC FOUR to come to the rescue....

peteyapainter : yo! sh*t innit?...me an beulah here hidin inna shrubbery by the french doors atta greyhouse!
only we can see what the three stooges are wearin unner a stuffed shirts.... it be blue unnerwear...long blue unnerwear wiya 4 inna white coycle onna chests...

the tall, bald one who is meant ta be PRESIDENT paulson is really READ RICHARDS the elastic man... an he be gon stretch hissell arahnd a TOXIC 'vestments an lock em away inna negative zone.

the short, stocky guy wiya squinty eyes is ex-president brush aka the thing an he gone clobber alla investors that sell oat!

the guy next ta im is a WIZARD O OZ .. .aka the human torch an he be gon shout 'flame on' an fly arahnd a place chukkin dough atta folks onna grahnd!

lastly, the brother-in-law gon be a invisible girl an he gon disappear somewhere!

so far the FF have lost every battle to DD an now they look pretty shagged out an lost for what ta do nex...

paulson : look out! DOOM's about!
torchy : FLAME ON...
brush : ITZ CLOBBERIN TIME!
invisible girl : include me out!...

peteypantywaiste : yo! sh*eeeettttt!!! DD is winnin hans dahn anna dominoes is topplin...

AVENGERS ASSEMBLE!

Yaaaayyyyy!!!! alla gang inna countin house gone apesh*t cossa it ovva nah!!! a VENGERS ere an DD gon be whupped bad.

pretty soon alla msn wot shudda know betta is droolin allovva a beers an busted stocks is risin an a sun commin aht...

woz it the sight o CAP an BUCKY, or was it THE SCARLET WITCH? we may nevva know but all ovva a wurl markets is FIXED an a NEW DEAL is... 'vestments can only be INvestments an
go up alla time...alla suckers wot was hopin to invest atta fair price has been SLAPPED SILLY by aVENGERS anna FF...

to be continued.......

IT STARTED ON WALL ST.

PREVIOUSLY on capitulation day

MMMMMMMMMMMMMMMMMMMMMMMMM...................................................................

whahoppen? wattat ssahn?

sayin stop! hey..whats that sound? evvabody look whats goin down.....STOP! hey whats that sou...

itta DORKPRIZE innit.... enjin stopped...that the sahnd o silence man!

clouds hang over world stock markets and the ticking grows ever louder in the still silence...the countdown has begun and soon the alien HEDGE FUNDS will, in unison, start to attack the last surviving banks and financial stocks....

in NEW YORK the aliens are eatin skyscrapers an wall st. will nevva look a same agin....

DAY 2......PRESIDENT paulson has taken command of the United Flakes Dorkship... Turnerprize.... joined forces with the OLD EMPIRES and fired off a simultaneous $multi-billion mega liquidty torpedo.

President Paulson has also put out halucinogenic NEW IDEAS to thwart and destroy the alien HEDGE FUNDS before their relentless short attacks can liquidate WALL ST.

SUCKERS RALLY?

Markets have rallied by A LOT! on news of the emasculation of the SHORT SELLERS who have been stuck together by a Lepage glue gun fired from the Turnerprize by theWATCHER'S men.

The large bald dude inna toga takes action at last! the market, FIXED IN TIME FOR THE ELECTION, has FORGOTTEN the alleged recession and the fact that the workin stiffs is skint!

It is as if THE WIZARD OF OZ has waved his wand and all is now perfect inna perfec world!

WAIT A MO...WATSISS?

bazza's pal : " The bear raids on the banks and brokers were NOT a case of piling on by US based hedge funds. And from what he was seeing and hearing about in terms of order flow, the vast majority of the financial short selling the past week or so were being done overseas. It appears that the lion's share of shorting was coming out of overseas bourses such as London and Dubai.It may not be a coincidence that the financial short selling ban is both here and in London...

...Then there is another coincidence: The huge increase in shorting of the financials occurred on the anniversary of 9/11. And on top of that, the same institutions attacked on 9/11/01 were the ones suffering in recent days."

onna nother note...

bazza...The grand irony of all this is that Naked Shorting has been very profitable for the big broker dealers, like Morgan And Goldman and Merrill and Lehman. They have looked the other way for years, and the SEC has been AWOL on this issue.

Short sales require a locate (shares to borrow) and then a subsequent delivery. It should take less than 3 days to deliver the borrowed shares, but instead, delivery is often delayed indefinitely. Failure to deliver leads to a margin charge, which can be as high as 9-15%.

If you want to know who to blame for the past 5 years of naked shorting, you only have two places to look: The Financial brokers themselves, and the non-feasance of a feckless SEC." The Big Picture

to be continued...