# # #
The securities identified in the Commission’s order:
Company
Ticker Symbol(s)
BNP Paribas Securities Corp. BNPQF or BNPQY
Bank of America Corporation BAC
Barclays PLC BCS
Citigroup Inc. C
Credit Suisse Group CS
Daiwa Securities Group Inc. DSECY
Deutsche Bank Group AG DB
Allianz SE AZ
Goldman, Sachs Group Inc GS
Royal Bank ADS RBS
HSBC Holdings PLC ADS HBC and HSI
J. P. Morgan Chase & Co. JPM
Lehman Brothers Holdings Inc. LEH
Merrill Lynch & Co., Inc. MER
Mizuho Financial Group, Inc. MFG
Morgan Stanley MS
UBS AG UBS
Freddie Mac FRE
Fannie Mae FNM
http://www.sec.gov/news/press/2008/2008-143.htm
Ok, so what is going on here and why the emergency order? We feel that this
action is nothing more than a diversion by Ben Bernanke and Hank Paulson, and
they have roped in Chairman Cox to play along. There are already rules and
regulations on the books with regard to naked short selling. Today’s emergency
order in my view was nothing more than an attempt to make the public think that
the problems with the banks are a result of ‘market speculators’. Similar to the
recent talk that oil prices were all a result of speculators, this order is
nothing more than an attempt to make the average person think that the losses in
their 401K’s and IRA accounts is a result of market speculators and people who
short stocks.
Ben Bernanke and Hank Paulson know the real story. They know that the losses
that banks and financial institutions have been suffering are very real and very
likely to be much worse than what has been reported so far. Stock prices have
been declining because of a lack of confidence in the companies and their
ability to continue to making profits.
