Naked, Short and Greedy: Wall Street's Failure to Deliver.Susanne Trimbath
Naked-Short-and-Greedy-Wall.pdf
ISBN:9781910151341 |372 pages |10 Mb
- Naked, Short and Greedy: Wall Street's Failure to Deliver
- Susanne Trimbath
- Page:372
- Format: pdf, ePub, fb2, mobi
- ISBN:9781910151341
- Publisher:Spiramus Press
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Overview
Rigged financial markets and hopeless under-regulation on Wall Street are not new problems. In this book, Susanne Trimbath gives a sobering account of naked short selling, the failure to settle, and her efforts over decades to get this fixed. Twenty-five years ago, Trimbath was working “backstage at Wall Street” when a group of corporate trust specialists told her about a problem in shareholder voting rights. When she went to senior management at Depository Trust Company (DTC), they brushed it off saying, “You can’t balance the world.” Ten years later, a lawyer from Texas would tell her that the same problem was about to blow up the financial markets: Wall Street brokers are using short sales and fails to deliver to grab the assets of American entrepreneurs. This is a cautionary tale. What started as a regulatory failure turned into a regulatory crisis. Global financial markets may not survive what comes next.