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pale_blue_dots t1_j34clxy wrote

The rest of this here is for anyone else who may be reading. (AftyoftheUK: if you haven't changed your mind on the above, don't worry about reading or responding to any of this!)

>but the entire problem the author highlights is that brokers are failing to keep track of which revenue is taxable versus which is not.

That's not the only implication related to that chapter and is a misunderstanding with relation it to the subject at hand. (If someone comes away with that then it needs to be re-read andor read the link below this paragraph as a clarification and suuplement.) The fact of the matter is you and your family and myself and family and a vast majority of people pay more in taxes than they should - while those responsible pay less. Furthermore, as already stated, individual states and associated citizens are losing due revenue year after year after year. See here for primary research on the subject. This equates to standard of living, health, education, well-being, and innumerable other issues.

>Further, investors incur economic damages when they are denied the use of funds between trade date and actual delivery date. Using publicly available data on FTDs in NYSE and NASDAQ "threshold securities" alone, I calculate that loss to have been $762 million in 2007. This is not a one-time loss, but an ongoing monetary loss to investors that will not diminish as long as the system tolerates FTDs.

(my emphasis; see here for source; "page 5")

>Can you give me examples of people who have been harmed by these votes, and the events which caused the harm?

The examples have already been given in the form of the links throughout the previous comments. This is like asking "Can you give any examples of the damage lead in gasoline AND the municipal water system has caused?" There are countless people harmed and countless lives destroyed.

For more reading someone can hunt through the shitshow that is "naked short selling" when searching. There's a lot to sift through; not all is accurate, but a lot is. As well, reading Naked, Short, and Greedy by S. Trimbath will give numerous examples (as an aside, if AftyoftheUK is reading (naughty chap, isn't he? Aren't you?): I will donate $40 to a charity of your choice and in your name if you order and prove you have the book - you don't even have to read it, but you should if you're intellectually honest and someone grandparents and grandchildren can respect and not be ashamed of).

There's also a documentary that came out in 2012 called "The Wall Street Conspiracy" which can be watched here for free. In it a numerous credible people including Robert Shapiro of Georgetown University (He holds a Ph.D. from Harvard University, a M.Sc. from the London School of Economics and Political Science, and an A.B. from the University of Chicago. He also has been a Fellow of the National Bureau of Economic Research, the Brookings Institution, and Harvard University.) and Wes Christian, a longtime "whistleblower" and attorney - both of which spoke relatively highly of the documentary. The movie The Big Short and Inside Job are also worth a watch which give some context and history. See here for more documentaries on the broader housing and derivative subject).

To end: it should be noted that FINRA (Financial Industry Regulatory Authority) and the NYSE are Self-Regulatory Organizations (SROs) - "We investigated ourselves and found no wrongdoing!. More importantly, though, the DTCC/Cede & Co. is also an SRO and it is impossible (for "regular people" - for non-executives of the DTCC) to tell the extent to which FTDs are laced throughout the system because they do not provide that information. This wouldn't be a problem if they just came clean - which can be done in a safe and privacy-oriented way by publishing related raw numbers that can then be cross-referenced with public information and data.


AftyOfTheUK t1_j36ohhr wrote

Just to confirm, after claiming that the issue of phantom shares/votes were a huge issue, and me pointing out that it's not a huge issue and asking you for examples of who has been harmed by this huge issue, I just wanted to confirm for anyone reading that:

you ignored all of my points, and my question, and tried to change the subject to talk about tax revenues - which I pointed out have nothing to do with your original point, and the problem you highlight is one related to proper recording of income, and not to phantom shares.


pale_blue_dots t1_j37klqx wrote

Booo lol .. you can't even say you agree with the basic tenets and foundations of democracy and voting Booo <smh> lol

I already told you, there are numerous examples in Naked, Short, and Greedy and I'll donate $40 to the charity of your choice if you order and prove you have the book - you don't even have you read it. As well, you can find numerous examples searching for "naked short selling."

The fact of the matter is...

You're a true disgrace and are intellectually dishonest and deceptive. Your grandparents would be ashamed of what you've become - and your grandchildren, if they knew the real you, would want nothing to do with you.

Booo go back to whatever grimy shithole you slithered out of.

... you can't even say you agree with the basic tenets and foundations of democracy and voting.

Edit: ... truly, go back to whatever grimy shithole you slithered out of....

... really. Just go away.


AftyOfTheUK t1_j3lotm6 wrote

So still trying to ignore my questions which you couldn't answer.

Got it.


pale_blue_dots t1_j3ml0lo wrote

It was answered you numbskull.

The fact of the matter is your position on democracy and voting is inconsistent with the near entirety of the civilized and educated world. As such, there's no point even talking any longer. You're a disgrace to everything a "good" andor "virtuous" person is and will be.


AftyOfTheUK t1_j3n637q wrote

>It was answered you numbskull.

It wasn't. You haven't given me any examples of people harmed by the things you're claiming is very very serious and very very bad.

>The fact of the matter is your position on democracy and voting is inconsistent with the near entirety of the civilized and educated world

I haven't expressed any position on that. I'm not sure who you've mistaken for me from another comment.