Jack Spades

Advocate for one share, one vote in the US Capital Markets. Pro DRS

[Jack Spades @JackSpades123]

@6days1week @TheUltimator5 In your example, the broker will make the number "right", but how they get there and which votes are thrown out is a black blox. Some do pre-processing, some do post-processing, some do other things.

[Jack Spades @JackSpades123]

@chiocchio @6days1week @BearkatMitch @iamrpk Beneficial shares can be throw own, ignored, etc. Basically, if I am a broker and I should only have 100k votes, but submit 120k, the tabulator tells me to fix the problem.

[Jack Spades @JackSpades123]

@chiocchio @6days1week @BearkatMitch @iamrpk Maybe. It's more they can if they want, but they do not have to. Instead they could just drop votes too.

[Jack Spades @JackSpades123]

@chiocchio @6days1week @BearkatMitch @iamrpk It is possible. It is all a black box, but the broker can decide my votes should be the ones that count vs your shares due to reasons. There is no universal rule on how they are to manage/reconcile the votes.

[Jack Spades @JackSpades123]

@BearkatMitch @iamrpk Yes, but they can "trim" at any point of the process (ie pre reconciliation & post reconciliation)

[Jack Spades @JackSpades123]

Comment Letter on voting rights now logged: https://t.co/WjFAm1Et9O

[Jack Spades @JackSpades123]

@TheUltimator5 @welp007 One of my favorite things about this was it was essentially scheduled for when the president was being sworn in. That's why it got rescheduled / never happened.

@CitronResearch any update on this livestream. I have been waiting.

[Mark Cuban @mcuban]

Mint it, Print it, Sell it Fuck it. That is the mantra for the world you are suggesting.

This is the biggest bunch of self serving Bullshit I have ever heard. In your world there is no ownership. Just speculation.

Hello every scam targeted at everyone and anyone who has no clue about crypto

Good bye whatever hope the crypto industry had of legitimizing itself

@garygensler has got to be laughing his ass off.
And the new head of the SEC has got to be pissed. If he believes this nonsense he has no ability to enforce any SEC law. Stock, token. Bond. Nothing

Rather than modifying the IPO process to accept crypto and give investors some understanding of what they are buying .
Any registration requirements just flew out the window.

I’ll say it again.

Mint it, print it, sell it Fuck it. That is the mantra for the world you are suggesting.

[kristen shaughnessy @kshaughnessy2]

We just had our first bank failure of 2025 and it's not the only one that could go under

"In some respects, the risks are greater now, Gruenberg said, given that today’s largest banks are bigger, more complex and more deeply intertwined than ever before...."

"The troublesome factors cited by Gruenberg included interest-rate risks for banks, liquidity risks, too much leverage, inadequate capital, too-rapid growth for some banks, a reliance on high amounts of uninsured deposits and new financial products that weren’t well understood.

Many of the same factors remain prevalent today, including financial institutions that aren’t banks and thus fall outside of their regulatory oversight, with much less transparency and supervision...."

https://t.co/gSCUD3LfEa

[Jack Spades @JackSpades123]

@TheUltimator5 @OtherCategory42 Here's a valid way for it to be 0 - If I short 100 shares of ABC days ago. My net FTD count would be -100. If I close those and open 100 shorts again on ABC, I have resolved the FTDs and have the same exact net position.

[Jack Spades @JackSpades123]

@OtherCategory42 Wash sales would effectively close and then re-open new ones.

[kristen shaughnessy @kshaughnessy2]

The @EconomicTimes on Hindenburg shutting down

"There are multiple counts of securities fraud for both Anson Funds and Nate Anderson, and we have only gone through 5 per cent of what's in there as of the time of writing," it said.

"From what we have read so far, it is almost a certainty that when the whole exchange between Hindenburg and Anson reaches the SEC, Nate Anderson will be charged with securities fraud in 2025."
- quote from @stockmannnbroo reports

https://t.co/QPLtvhr5S4

Hindenburg’s Nate Anderson faces scrutiny over alleged links with hedge funds

https://t.co/IJbQ8psA2u

@ham59591shorts

[Hoffmann @hoffmann6383]

The same issue was briefly discussed in $NWBO's spoofing lawsuit where seven market makers (and their likely hedge fund clients) illegally manipulated $NWBO's share price. A summary of the spoofing episodes by the market makers can be seen in Image 1.

The market makers thought $NWBO's story where market makers and their hedge fund clients engaged in a similar spoofing scheme over the same time period to be "fanciful".

While this Anson article talks of potential coordination of short targets between hedge funds the judge in $NWBO's spoofing case took it one step further.

Magistrate Judge Stein of the Southern District of New York opined that algorithms can coordinate illegal spoofing activity.

"The financial literature suggests another reason why Defendants did not need to coordinate a spoofing scheme: their algorithmic trading programs can do it for them. A recent study found that algorithms can “learn to coordinate their spoofing when they learn together,” even without human intervention. This is known as “algorithmic collusion.” See Alvaro Cartea, Patrick Chang & Gabriel Garcia-Arenas, Spoofing and Manipulating Order Books with Learning Algorithms, at 6-7 & n.8 (posted Dec. 1, 2023), https://t.co/9Uk5J93D3C" [1]

[1]https://t.co/wlVppafyB6

[Jack Spades @JackSpades123]

@McSqueezyTheCow Per the DTCC website, it is quite cheap to fail. Look at the example

[Jack Spades @JackSpades123]

@Han_Akamatsu @GatsbyHuxley Computershare for GME. More generally, Transfer Agents are where you can be the record holder vs the beneficial owner with a broker.

[Jack Spades @JackSpades123]

@GatsbyHuxley @Han_Akamatsu I can only speak to US Markets, but shares held with a broker are not legally owned by you. That is a fact.

When you are not the legal owner of shares, your share can be used against you and there is where the opportunity for abuse stems from.

[Jack Spades @JackSpades123]

@GatsbyHuxley @Han_Akamatsu It's about more than just GME though at the same time. It is about fairness in the markets.

Do you know when you have shares with a broker such as Fidelity, Robhinhood, etc that you are not the legal owner of those shares?

[kristen shaughnessy @kshaughnessy2]

Chicago Has The First Bank Failure In 2025

"Illinois regulators closed Chicago-based Pulaski Savings Bank on Friday evening in the first bank failure of 2025. 

The closure comes on the heels of last year’s predictions that “hundreds” of small lenders would collapse through 2026 under the pressure of higher interest rates....

...Millennium Bank of Des Plaines, Illinois, assumed all of the bank’s nearly $43 million in deposits at a 4.6 percent premium.

And it bought the bulk of its $49.5 million in assets, which include loans. .."

https://t.co/vuvOpffmb9

[Jack Spades @JackSpades123]

@u_ringingbells I was seeing links to court documents suppressed. Yet at the same exact time seeing them allowed in another post. Pick a rule and enforce it fairly is my point.

[Jack Spades @JackSpades123]

@u_ringingbells Do I think they did good...yes. Do I think they did harm...yes. Do I think they have done more harm then good...slightly leaning to yes because limiting conversation and sharing ideas is the opposite of how we got so knowledgeable.