Unsettled Trades (e.g., Naked Short Selling) (Patrick M. Byrne)

World News Trust presents the next chapter from the series "Deep Capture", by Patrick M. Byrne, PhD., CEO of Overstock.com. We consider Dr. Byrne's work a clear and incisive window on serious problems in our capital and equity markets and as such, a vitally important work to read and ponder.

From three years of experience explaining this crime to many people, however, I know that there are two hurdles people face in understanding it. The first seems big but is, in fact, easy to surmount. The second is small, but is the one that trips people up. I have an easy way to get you over both hurdles, but to do so, I will ask you, esteemed reader, to make two promises to me. If you keep these promises you will overcome both hurdles.

Hurdle #1: Because it is a financial crime, people who are not too conversant with financial issues may shrink from technical-sounding jargon.  The way over that hurdle is this:

1) I will start by giving a super-simplified explanation that any high school kid could follow. It will be accurate, but only metaphorically accurate.

2) Then I will give an explanation that is literally accurate, but is still somewhat simplified, and uses just a little jargon.

3) Next I will give an explanation that is literally accurate, and includes technical jargon.

4) Last, I will provide links to numerous articles, news reports, interviews, and explanations that have appeared in academic papers and the financial media, for those who want to bury themselves in the technical details. 

In sum, I will start with simplified explanation, then move through the explanation again and again, getting more accurate with each pass, but also, more technical. 

Read More: Deep Capture