Fraud on the Street in the Purchase of 3COM

The fraud is becoming more blatant on all fronts.

Mary Shapiro and the SEC should immediately subpoena the records of options purchases in 3COM and Hewlett-Packard for this week, and look for unusually large purchases. But chances are that they will do nothing, because there is a soft partnership between the government and Wall Street.

Make no mistake. Front running and monetary bubbles are not victimless crimes, anymore than robbing a grocery store at gunpoint is a victimless crime. They take from the many to give to the few.

There are some smokey allusions to ‘calendar spreads’ being put forward, but this is disinformation, and does not speak to the surge in stock buying and the pattern of insider trading. It was fraud, pure and simple.

And this is just the tip of the iceberg. The basis of the SP rally on high frequency trading and a liquidity bubble is a fraud, and will be exposed as such when the bottom falls out of the market. And the people know who the primary actors are in this.

The Obama Administration is a disgrace.

- goldstandard

Related Posts:

• Bernanke: “How to deal with asset bubbles is most difficult issue of the decade”
• Not being to bullish or bearish
• If you want a simple snapshot of what’s going on here, that’s different than before, listen up…
• Wall Street has Automated their THEFT and now the Banksters can let the computers do their work!
• Why it’s the US FRAUD “Market” of course….

Leave a comment