Larry Smith: Open Letter to President Donald Trump on Wall Street Crime — Public Intelligence Blog – May 27, 2020

Public Intelligence Blog

Mr. President,

Mr. Robert David Steele and I were recently introduced by mutual acquaintances. All of us share one major conviction. We believe that hedge funds working in collusion with certain elite Wall Street investment banks are engaged in a long running, unbelievably broad, criminal enterprise to manipulate stocks. (I have labeled the participants as the wolfpack.) This scam defrauds investors of hundreds (yes hundreds) of billions of dollars each year and causes incalculable damage to companies, particularly the emerging companies that are most vulnerable to their stock manipulation. Integral to their strategy is the use of illegal naked shorting to create and sell huge amounts of counterfeit stock to depress stock prices. This is a crime against society as it is these entrepreneurial companies that most often lead technological evidences that drive the American economy. →

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