My name is Richard, and I am the narrator for the movie Stock Shock, directed by Sandra Mohr. The movie was made in June of 2009, just as the full-blown recession of 2008 was coming to an end. This recession was caused by the manipulation of stock prices on Wall Street through naked short-selling, flash trading, high-frequency trading, secret software, super-fast computers and what I feel was the main cause of this corruption: “Decimal Place Trading.” As I write this article today, much of this corruption is now slowly coming out through social media outlets such as Twitter and Facebook, along with bloggers on the internet, Yahoo bulletin boards, and, of course, Stock Shock. But the news media is also to blame for what has taken place in this country -- including the near-collapse of Wall Street and the banking industry.
There are many things to point fingers at or place the blame on, and I can think of a few off-hand that I would like to cover -- the first being Wall Street’s regulation changes. I am no expert -- I am not even a writer -- but decided to tell this story since the business news media was not telling it. These Wall Street regulation changes contributed to the aforementioned problems in many ways, with the first being the removal of fractions in stock pricing. On January 29, 2001, the New York Stock Exchange, or NYSE, went to four-decimal-place trading. On March 12, 2001, the National Association of Securities Dealers Automated Quotation, or NASDAQ, followed suit. This new rule had the best of intentions as we headed toward the computer and digital world, but over time it was manipulated and companies like Goldman Sachs figured out how to take advantage of the new system. I am not sure how it happened, whether it was lobbied for years or what -- but along came the biggest mistake of all with the elimination of the uptick rule in July of 2007. This rule had been implemented after the great depression, and had been in place since 1938. How could the Securities and Exchange Commission, or SEC, abolish a rule that had been in place for close to 70 years, and had worked? Put these two changes together, and you get a simple equation: greed plus corruption equals recession.
Known and very popular cialis coupon which gives all the chance to receive a discount for a preparation which has to be available and exactly cialis coupons has been found in the distant room of this big house about which wood-grouses in the houses tell.
Facts have also surfaced on this over the past few weeks on the internet -- you can do a Google search and see for yourself. Also, reports have been released on the web that Goldman Sachs made over 100 million dollars per day in 46 out of 64 trading days in Fiscal Year 2009, second quarter (April, May and June). Let me say that again. They made over 100 million dollars per day, and are still doing it as I write this letter today. But the question remains, how did they do it? There has been no report of this by any of the news media. How can this be? This corruption is 100 times the gravity of the Bernie Madoff story, and yet there has been no coverage by CNBC or Bloomberg News. Why? Goldman Sachs, upon Wall Street transitioning to fractions and the abolishment of the uptick rule, designed secret software and used this software to gain an advantage on every potential investor. They did so by manipulating the stock price to make people pay more money by adjusting the stock price up and down in decimal places, making profits on each and every trade, while these investors had no idea what was taking place. Basically, Goldman Sachs became a Las Vegas poker dealer in New York City on Wall Street, turning profits on every trade with their super-fast computers and software. Profits in the milliseconds works out to be over $100 million per day. Now that’s a lot of trades -- and it is still going on today.
Stock Shock has revealed many of these scams, yet they have only been reported by social media networks like Twitter and Yahoo, along with some great bloggers and websites, such as satwaves.com. The national media, meanwhile, has turned a blind eye. I have discussed with Stock Shock’sdirector that the bigger crime here -- aside from the essentially stolen 20 to 60 percent of people’s retirement money and individual investments -- is the action of the news media -- or shall I say, their non-action.
The movie has gotten the attention of Senator Ted Kaufman and Senator Chuck Schumer, which has subsequently lead to new SEC rules for flash trading -- effective September 1, 2009 --and more discussions on reinstating the uptick rule by year’s end.
Here is my take on why the news media has been silent. Stock Shock is about the technology of the future; namely Sirius XM Radio -- a satellite radio service. The news media is fearful of the success of this company as future technology expands to cell phones. Basically, when Apple came out with the iPhone in July of 2008, Sirius XM Radio and XM Radio merged companies -- also in July of 2008. It was the start of the “walking computers” via cell phones with increased functionality that will only improve and expand in time as they upgrade and bring the news to the people instantly. As I write this letter, it hits me. The Federal Communications Commission, or FCC, delayed the merger of Sirius and XM for 18 months -- six months prior to uptick rule elimination in January of 2007. Was the abolishment of the uptick rule established at this time because of these new technologies merging, which would eventually create the new news media years down the road? With people using these cell phones -- which contain a multitude of media capabilities -- to videotape news as well as to link videos to YouTube and link photos, could this be the reason why all of a sudden the uptick rule was abolished? And what followed right after -- the most shorted stock on Wall Street -- was Sirius XM Radio. Not only was Goldman Sachs using its advantages to take investors’ money away slowly like Las Vegas poker dealers -- Goldman Sachs was also paying millions to CNBC. Was it paid protection to keep quiet? The news media wanted this powerful, newly-merged company, called Sirius XM Radio, Inc., destroyed. To that end, both the news media and the corrupt individuals on Wall Street ganged up on Sirius XM Radio in an attempt to bankrupt the company through negative and, at times false, news media reporting -- all while Goldman Sachs naked-shorted Sirius XM Radio’s stock in the millions of shares.
Thanks to the movie Stock Shock and Sirius XM Radio’s faithful investors, they fought back and today, the truth is slowly coming out each and every day -- what the news media is still doing and how Goldman Sachs is still manipulating trades in decimal places. But Sirius XM Radio has survived the onslaught of attacks in the press and on Wall Street, not to mention CNBC’s non-reporting of the many positive stories that have unfolded with Sirius XM Radio since the release of Stock Shock.
In the end, the truth will prevail over the business news, CNBC, and Goldman Sachs. We will expose their role in the failed attempt to bankrupt Sirius XM Radio through Hollywood. There are four movies being released on this topic:
Shock: The Short-Selling
of the American Dream -- Director Sandra
-- Director Oliver Stone
A Love Story
-- Director Michael Moore
4. Monopoly -- Director
Now, for some facts about the news media…
Did you know that General Electric, or GE, owns CNBC, as well as NBC and MSNBC? Did you know that MS stands for Microsoft, as GE and Microsoft own MSNBC? They also own Meet the Press, The Today Show and others.
Did you know that CNN is owned by AOL/Time Warner and that they own 33 magazines, including Time and Fortune?
Rupert Murdoch owns News Corp, which owns Fox News and their many networks across the country. News Corp also owns 132 newspapers, including the New York Post and the London Times, along with 25 different magazines.
Also, it seems ironic that these newspapers are in trouble financially, as has been reported over the past months -- especially the Boston Globe’s problems and how the New York Times owns this well-known but, of late, troubled publication. I do not know who owns the Wall Street Journal, Motley Fools, but I do know that Jim Cramer of CNBC’s “Mad Money” is part-owner of thestreet.com, which has written numerous false articles about Sirius XM Radio. How is he allowed to do that while also bashing Sirius XM Radio on “Mad Money“? Did you see Jim Cramer bashing Sirius XM Radio last night ( August 24th, 2009 ) on Mad Money.
How could any one of these once powerful news media companies fail to cover the story of naked short-selling or decimal place trading? The recent news about naked short-selling and flash trading, along with high-frequency trading, have only been in the news since word came out on Wall Street about Stock Shock. Only then have these stories of corruption on Wall Street come out within the past few weeks and months, but to this day there has still been no talk of the decimal place trading -- and the national news media have yet to mention the movie. All of these news media companies and TV stations are hoping that Goldman Sachs can still succeed at trying to bankrupt Sirius XM Radio through manipulation in decimal places; hence not one single word of this on any one of the networks listed above -- not one word. But the Cash for Clunkers program has been all over the news for the past month -- who do you think will benefit from all of the new cars sold? Yes…Sirius XM Radio will be included in just about every new car sold, not to mention in all of the cell phones of the future. CNBC had at least 100 hours of coverage for the Cash for Clunkers program, yet not one mention of Sirius XM Radio -- the company that, ironically, stands to gain the most for all these new car sales.
Goldman Sachs’ manipulation of stock prices with Sirius XM Radio and many other stocks continues today. Goldman Sachs tried to ruin the banking industry using the same exact means -- naked short-selling -- until the SEC finally stepped in. Their original plan back in July of 2007 to ruin Sirius XM Radio led to more greed by Goldman Sachs and Wall Street as they took the Sirius XM Radio attack plan and used it against the banking industry, while their greed almost ruined our great country. When they are making over 100 million dollars per day by manipulating stock prices in decimal places, I guess they will do anything, and stop at nothing -- including putting this country into a recession. That, my friends, is greed -- total and complete greed.
Goldman Sachs’ advantage will be diminished with the new changes coming on Wall Street, but which national media company is going to tell the entire truth to the world? Is it going to be Hollywood, or is the national media finally going to be forced to reveal what really happened?
The bottom line is this: the truth will prevail in the end, and Stock Shock will unveil the whole story -- the real story -- to the world. You can take that to the bank.
Richard Keane, narrator – Stock Shock
August 16, 2009 original
August 25th, 2009 revised version
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