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5 of 6 people found the following review helpful:
5.0 out of 5 stars
Stock Shock - Narrator, June 13, 2009
My name is Richard, Narrator for the new movie Stock Shock. This movie is truly amazing as it tells a story of the technology of the future Sirius Xm Radio and how the news media is fearful of its future success. The business world is exposed for their corruption on Wall Street involving Short Selling the stock ( Siri )and were paying off the news media to report false reports about this future Media powerhouse. These greedy hedge fund managers were paying off internet writers to posts lies and half truths about Sirius Xm Radio. The uptick rule change in July 2007 gave the advantage to these greedy corrupt people on Wall Street. These same greedy people were trying to destroy ( they Failed ) Sirius XM Radio, then they try to raid numerous other industries and stocks including the banking industry that brought the economy to its knees. The combination of both Wall Street corruption and News media collusion puts the United States in a recession that to this day, are still trying to get out of it. The Movie Stock Shock will expose the guilty parties involved in the market manipulation that has stolen 20% - 60% of the people's hard earn money that they have put away for the past 10 -40 years. When the World sees this movie Stock Shock there will be a huge public outcry and one of the biggest hits will come to the SEC and Mary Shapiro for not reacting right away to this corruption, then of course they will investigate how on earth the George Bush administration could have allowed the SEC to take away the Up-tick rule, when it was put in place in 1938 after the great depression. How could they abolish this Short Selling protection and why could they not make the change back in early 2008 as we were in a recession. It doesn't take a rocket scientist to figure out you take the rule out in July 2007 and we all no what happen to our life savings since that change. It is almost 2 years and still no re-instatement of the up-tick Rule. How ? Why ?
This is the Story of the century, never mide 2009. You want to get an education and see the real truth about what happen to the economy the past 2 years, then you need to see Stock Shock - The Short Selling of the American Dream. The movie's name says it all. What is going to be great about this movie is that these people have put fear into the investing world since the rule change and use this FEAR to steal their money. Now, The moviey Stock Shock will put fear into wall street and the news media that were all involved in this scam. stay tuned, it has only just begun, but remember one thing. The Truth will come out in the end and the Truth will always prevail over their greed.
Richard - Stock Shock, Narrator
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1 of 1 people found the following review helpful:
5.0 out of 5 stars
HIGHLY RECOMMENDED!, September 2, 2009
Director Sandra Mohr's amazing and informative new DVD, STOCKSHOCK THE MOVIE, is a riveting look into Wall Street's blind-eye corruption that has caused financial ruin for countless hard-working, middle class Americans. Siruis Radio, positioned for tremendous success, has been the most shorted stock in the history of Wall Street.
Thank you Ms. Mohr for giving us smaller investors a voice.
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1 of 1 people found the following review helpful:
3.0 out of 5 stars
Good Warm-Up Act, August 3, 2009
Michael Moore, Oliver Stone and Ridley Scott are all apparently working on films about stock market manipulation and Wall Street schemes. Sandra Mohr's Stock Shock is first out, since the meltdown. The movie looks at one very small slice, the price collapse of Sirius Satellite Radio (SIRI).
One very positive element of the film is that it does a reasonably good job of explaining naked short-selling and mentions repeal of the up-tick rule, implying these practices contributed to the steep drop in the price SIRI shares. If the film does nothing else, it may begin to educate those who watch it of the importance of a sound regulatory structure to efficient markets. Unfortunately, while it offers some educational and shock value, as viewers begin to grasp weaknesses in the current governance structure, it does little to empower action.
The SEC recently made permanent a rule aimed at reducing naked short-selling, requiring that brokers must promptly buy or borrow securities to deliver on a short sale. The Commission is also working with the exchanges to ensure prompt reporting.
Additionally, the SEC is looking at restoring the up-tick rule that prohibits short sellers from making their trades until a stock ticks at least one penny above its previous trading price. This helps to prevent selling sprees that feed upon themselves. Another approach being reviewed would ban short-selling for the rest of the trading session in a stock that declines by 10% or more. ('Short sellers' in SEC's cross hairs as it votes new rules, LATimes, 7/27/09; Even With New Rules, Naked-Short Violations Hard To Enforce, WSJ, 8/3/09)
Therefore, viewers of Stock Shock may think the problems are solved, or nearly so. Although I found the film mildly interesting... I haven't been following SIRI, I'm disappointed there was no real call for action that one might expect from a Michael Moore film or from other producers of documentaries. One could argue, the attempt is to present a balanced approach in order to let viewers make up their own minds. However, it looked to me more like fear of getting sued because the facts were complicated and the filmmaker did little to sort through them.
Corporate governance expert, Bud Burrell and other commentators did little to clarify the issues. Did anyone bother to look up SIRI on Yahoo and see their RiskMetrics Group corporate governance rating is only better than 16% of the Russell 3000. Obviously RMG thinks there are problems. But what are they? I didn't hear anything like a satisfactory explanation. Even for a low budget film, it probably would have paid to spend $850 to get a copy of The Corporate Library's rating. That way, the film could at least give viewers a better idea of board and management governance issues.
Instead, the film's primary focus is on a few retail shareowners who essentially placed heavy bets on the company based on their love of the product. Much of the movie centers around Michael Hartleib, a shareowner activist who apparently filed at least one lawsuit against the firm accusing management of violations of the Federal Racketeer Influenced and Corrupt Organizations Act (RICO) and the Sherman Act, as well as breach of fiduciary duty. We hear from him and we hear reactions from the other shareowners. Some think he's fighting the good fight. Others think his actions are just hurting the value of their stock. Those interviewed appear to be mostly isolated. We learn little of Hartlieb's Save Sirius group, which now appears to be heavily pushing Stock Shock. Instead, the film examines one active retail shareowner, the phenomenon of short sellers, and a lot of passive shareowners.
I would have liked to see more about the attempts by shareowners to coordinate actions, such as passing resolutions. For example, I see Hartlieb had a "say on pay" proposal this year that lost, although I see it won the support of CalSTRS and perhaps other large institutional investors. What kind of outreach attempts were made to RiskMetrics, CII and others? Did the group consider running a proxy contest? Was there a plan B?
The film makes no reference to groups like the Investor Suffrage Movement, [...], or Americans for Financial Reform. Let's hope others to a better job of pointing a way out of the meltdown by working with others toward reforms that will result in a more accountable financial system. Until then, Stock Shock serves as an opening act, at least warming up the audience.
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