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News Story Source: https://www.zerohedge.com, by James Stafford
That fear has now turned into rage.
Hordes of new retail investors are banding together to take on Wall Street. They are not willing to sit back and watch naked short sellers, funded by big banks, manipulate stocks, harm companies, and fleece shareholders.
The battle that launched this week over GameStop between retail investors and Wall Street-backed naked short sellers is the beginning of a war that could change everything.
It's a global problem, but it poses the greatest threat to Canadian capital markets, where naked short selling—the process of selling shares you don't own, thereby creating counterfeit or 'phantom' shares—survives and remains under the regulatory radar because Broker-Dealers do not have to report failing trades until they exceed 10 days.
This is an egregious act against capital markets, and it's caused billions of dollars in damage.
Make no mistake abo
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