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Naked, short and greedy : Wall Street's failure to deliver / Dr. Susanne Trimbath.

by Trimbath, Susanne

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Spiramus Press, 2020.

Short selling (Securities) -- United States.

Securities industry -- United States.

Securities industry -- Corrupt practices -- United States.

Insider trading in securities -- New York (State) -- New York.

9781910151341 (trade pbk)

xii, 360 p. : ill. ; 24 cm.

Includes bibliographical references and index.

"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."--Publisher.

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