Short Sales - Here is the latest look through, page-297

Hi@Birchcorp

You might find the following transcript from the Lex podcast with Elon Musk interesting. (Title is Elon Musk: War, AI, Aliens, Politics, Physics, Video Games, and Humanity | Lex Fridman Podcast #400)

I think the same would apply here for ASIC.

Lex Fridman(01:49:34) Was that story fully told? I mean, SEC, in its best form, could be a force for good.

Elon Musk(01:49:42) It should be. But not once did the SEC go after any of the hedge funds who were nonstop shorting and distorting Tesla. Not once. The hedge funds would lie flat out on TV for their own gain at the expense of retail investors. Not once. Literally a thousand times, not once did the SEC pursue them.

Lex Fridman(01:50:06) How do you explain this failure on

Elon Musk(01:50:08) The incentive structure is messed up because the lawyers at the SEC are not paid well, it’s a fairly low paying job, but what they’re looking for is a trophy from the SEC. They’re looking for something they put on, basically, their LinkedIn. From that, they can get a job at a high paying law firm. That’s exactly what the lawyer here did. And the reason they don’t attack the hedge funds is because those hedge funds employ those law firms. And they know if they attack the hedge funds, they’re affecting their future career prospects. So, they sell small investors down the river for their own career. That’s what actually happens. Regulatory capture.

Lex Fridman(01:50:59) Regulatory capture.


So IMHO, the best way to achieve what you want is to create a class action against ASIC and the offending funds.

Just my thoughts. Let me know if you would like to chat.