Manages Parisian Family Office. Began Wall Street, 82. Founded investment firm, Native American Advisors. Member, White Earth Chippewa Tribe. Was NYSE/FINRA arb. Conservative. Raised on Native reservations. Pureblood, clot-shot free. In a world elevated on a tech-driven dopamine binge, he trades from Ghost Ranch on the Yellowstone River in MT, his TN farm, Pamelot or CASA TULE', his winter camp in Los Cabos, Mexico. Always been, and will always be, an optimist.

Tuesday, May 05, 2009

Harvey Pitt

Listening to Harvey Pitt expound on CNBC about the dangers of short-selling on Wall Street speaks volumes about those "at-the-top" who don't, won't or can't understand the problem with "naked short selling".

It is NOT short selling that is the problem. It is the counterfeiting of shares, hence "naked" short selling that is the problem.

Harvey, we all can be thankful you are no longer at the helm of the SEC.

If the SEC would enforce the rules there would not be a problem.

Enforcement Mr. Pitt, enforcement.


Anonymous said...

Mr. Parisian:

You apparently misunderstood Mr. Pitt's comments, or else attributed the remarks of the other interviewee to him. It is precisely because naked shorting creates "phantom" shares that there is a need to eliminate completely all naked shorting. That is what Mr. Pitt advocates. I thought you'd want to know that you misunderstood (and actually reversed) what he said.

Dean Thomas Parisian said...