By Brandon Matthews
On the eve of the release of the most anticipated documentary of the year, “Stock Shock-The Movie,” it has come to the attention of Satwaves that the financial news media is being silenced regarding its content and release. While I was in New York City several months ago being interviewed on film, I learned that Bloomberg had taken an interest in telling the story of Stock Shock. The documentary itself tells the tale of naked short selling and media bias as it relates to the story of Sirius XM Radio (SIRI).
Bloomberg’s award winning journalist Gary Matsumoto has written extensively in regards to naked short selling. As recently as last March, Mr. Matsumoto had written an article on the subject stating that “The biggest bankruptcy in history might have been avoided if Wall Street had been prevented from practicing one of its darkest arts.” Naked short selling opponents picked up this article as ammunition to further their cause.
Director Sandra Mohr had been interviewed for both a taped piece as well as a written piece while in N.Y., both of which were to be released prior to Stock Shock’s June 10, 2009 debut. Satwaves has learned that neither of these pieces will ever be seen by a single American investor.
In what can only be described as apparent censorship by Bloomberg, Satwaves has acquired a copy of an email from Mr. Matsumoto regarding Bloomberg’s newly adopted position on what qualifies as market related news.
Mr. Matsumoto writes:
“I’m sorry to say that I will not be covering anything related to naked short selling for the foreseeable future. To the best of my knowledge, No one at Bloomberg News is interested in naked short selling. That’s all I have to say on the matter”.
Wow.
So at least we have that going for us…
I wish I could say I was suprised….
As a condition of your employment you will do as you are told. Sad.
Yes, the Press has trumped by greed, illegality, and business interests. “There is no need to know, or right to know. You know what you are told, believe it, because WE said so, not because we are telling up the truth or anything.”
Im not surprised. And no, its been going on for 100 years in the press, at least. Just never been worse.
Call Fox Business..attn/Americas Nightly Scorecard/David Asman or try Neil Cavuto…..Maybe Lou Dobbs.
I am not surprised either. “Just shut up and get in line”. Are we all sheep?????
Lets see if this one gets picked up on Google …
It’s there..but hidden deep…everyone needs to click the link to get it to the top…
http://news.google.com/news?um=1&ned=us&hl=en&q=sirius+bloomberg
This should come as no shock to anyone….the super rich will always tilt things….including the market in their favor. The Hedge funds work for them and large institutions ensuring they have their cake….and eat it too! We are nothing but a blip on their radar screens.
Hmmmmmm…..now who would put pressure on Bloomberg to sit on this story. I wonder who their biggest advertisers are. Would they have any reason to block information on Stock Shock? Mr. Matsumoto states that no one at Bloomberg News is interested in naked short selling. It seems to me that someone at Bloomberg New is interested, interested in blocking information on Stock Shock-The Movie.
keep up the good work brandon
Makes ya’ wonder if Vinnie’s been talkin’ to Gary.
It’s a sad day when you have to count on Jon Stewart to stand up to WallStreet. Perhaps Sandra should give his show a call.
Are you serious? You’re turning this into a grand censoring of the media because they’re not “interested” in covering naked short selling? You think they might have some more interesting stories out there to cover rather than some .35 cent stock whose shareholders are pissed because the lost all their money (me included) and decided to create some low-budget documentary.
It’s not a conspiracy, folks. It’s just not that interesting. The world does not revolve around Sirius. In fact, it pretty much couldn’t care less about it.
The speculation on this website is obscene.
You are so wrong Brad, so very very wrong. It happened to many other companies as well.
Naked Short Selling needs to be banned ASAP.
Brad…no one twisted your arm to post here or read the story……take your agenda elsewhere. Hope it doesn’t cost you any more money. The only thing obscene here is you wasting your time with SIRIUS…. if you are that disgusted with it why read or post?
The Truth will prevail in the end. This story is not going away and it much more deeper than Sirius XM Radio. This is about 100,000 people ( Hedge Funds ) short selling and taken 150 million people’s retirement and investments since the up-tick rule was abolished in July 2007.
These greedy hedge fund managers will be exposed and the the analysts and writers involved.
Hollywood is going to tell the people the truth, since it’s not being told by CNBC & Bloomberg and the rest of them.
In the end, the truth will come out and prevail.
OMG. Hollywood is going to tell us the truth. Man, Dick, I hope your right. But if the media isnt going to tell the truth, I cant rely on big corporate movie studios too. Same money.
Why this movie has a chance to be honest. Its not from Hollywood.
WOW! Great article Brandon!
Have to watch out for Hollywood too. They may jst come along interested in the story so it can be bought and buried before it gets too far. I would love for this to expose those who have attacked this company, but with minimal media attention, it will likely go as far as a few stock boards. Hope I am wrong, but just trying to keep it real.
CMKX DIAMONDS IS THE BIGGEST NAKED SHORTED COMPANY IN WALL STREET..SEC TRIED TO SWEEP IT UNDER THE RUG,,BUT THE 60 THOUSAND SHAREHOLDERS GOT TOGETHER AND FIGHTING HARD TO GET JUSTICE.
http://www.investigatethesec.com
Good article Brandon. Naked short selling has in fact damaged many companies Sirius XM included.
i don’t hold any power other than my pen, but what can i do to help? this is outrageous!
TERRIBLE NEWS
Bloomberg is obviously putting film on blacklist alert.
Others media outlets will surely follow..
How the heck will this movie reach the masses that matter?
A darn shame..
Why not just release the thing online, free of charge to Sirius-Xm investors. I resent having to pay $15 just to find out what may or may not be going in this matter. If it has some merit, I would be happy to donate something for any POSITIVE efforts.
seems to me that John Q Public would understand that the movie personnel are in the business of making movies. I can tell you that the director had to fly all over the country, stayed in countless hotels, had equipment expenses, personnel expenses not to mention the expenses involved in packaging, labeling, etc.
Why don’t you go to work this morning and tell your boss / and or customers that you are now working for free and giving away your product or service.
bloomberg has a channel on sirius… whats up?
I have watched the “trailer” many times, and don’t see how it could help the investor in Sirius-Xm. Seemed like a lot of hype. I still find it interesting, but I question how it’s constructive to the company. Maybe after the director makes back her expenses for production(would be nice to know who is profiting from the venture also),it should be shown on Satwaves, for a couple of bucks…or perhaps .30 !
If you don’;t know, then you must be new. Last year, Sirius lived full time on the reg sho list…the reg sho list is a list of stocks that were sold short and not delivered…in other words…shares were sold that did not exist….repeatedly…driving the price down.
This is not just about Sirius. The same thing happened to Lehman. Any stock you own can be destroyed by naked shorting. Stock shock is for everyone…not just sirius investors…
As for who is making money..that’s really none of your business…do you question Stephen King or Oliver Stone and ask who is making money with their movies?
The movie is meant to out this manipulative market practice and hopefully enough investors will demand changes at the government level..
Uh, OK. Thanks for that. I am new, and if this movie can get something done about it, great. Question is, how do you get it out there to the most potential (interested) viewers so it has a chance to effect anything?
@Brad
Well Brad when someone comes along and “naked shorts” your Mercedes I hope the police tell you that.. “Well Brad it must have been a conspiracy and well, frankly it’s just not that interesting.”
Why would anyone begrudge the producers of Stock Shock – The Movie from making something. Think about all the time and effort that they have put into this production. I am sure that they could have made more money doing something else. $15.00 is a small amount to pay to get this information out to the public.
@Brad
EXACTLY!