Parisian Family Office CEO. Founder of CHIPPEWA PARTNERS, Native American Advisors, Inc., Registered Investment Advisor. White Earth Chippewa, educated conservative, raised on Indian reservations across Great Plains. Began Wall Street career in 1982. Always been, will always be, an optimist. Pureblood, clot-shot free. In a world on a dopamine binge, this is his take on life. Written at the Ghost Ranch in MT, Pamelot, their TN farm or winter home in San Jose del Cabo, Mexico.

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...