David Dayen wrote a fascinating series on likely fraud by major banks in the penny stock market. If you’re an investor, you will want to read this:
All seven installments can be found here.
Part 1: The Money is Gone
Part 2: Big Players, Little Stocks, and Naked Shorts
Part 3: Naked Shorts Can’t Stay Naked Forever (or can they?)
Part 4: Calling the SEC
Part 5: Turning Up Like a Bad Penny
Part 6: Were Paper Losses the Goal All Along?
Part 7: The Half Billion Dollar Glitch
