*****CMKX - CMKM Diamonds Inc***** Keeps On Ticking...

__ * $7 Secrets *__

Saturday, December 20, 2008

CMKX - CMKM Diamonds ---- Mad Money **Cox-Madoff Memorial Wall of Shame**

Mad Cap Recap
"One more thing: Cramer has decided that SEC Chairman Christopher Cox is so worthy of our spite and vitriol – have you noticed how he’s blaming everyone else at the SEC other than himself for Madoff’s $50 billion fraud and the market’s other regulatory problems? – that it’s actually an insult to New York Giants wide receiver Plaxico Buress to award Cox the Plaxy Good Judgment Award.

So going forward the award will be called the Christopher Cox Award for Good Judgment. And, as a way to enshrine the men who defined this era of no regulation, the Wall of Shame will henceforth be named the Cox-Madoff Memorial Wall of Shame."


Cramer's Outrage Video
Mad Money host Jim Cramer is outraged with himself for comparing Cox to Plaxico.

Thursday, December 11, 2008

CMKX - Cramer On The SEC...

CNBC Video... 12/11/2008

Cramer's Market Strategy

or

"How I learned to love Chairman Cox & the SEC...
Even though THEY KNOW NOTHING...!!"

Wednesday, December 10, 2008

CMKX - CMKM Diamonds Inc. - The Secret Diamond Claims...

A diamond that is almost forever


Diamond star thrills astronomers...

Twinkling in the sky is a diamond star of 10 billion trillion trillion carats, astronomers have discovered.

The cosmic diamond is a chunk of crystallised carbon, 4,000 km across, some 50 light-years from the Earth in the constellation Centaurus.

It's the compressed heart of an old star that was once bright like our Sun but has since faded and shrunk.

Astronomers have decided to call the star "Lucy" after the Beatles song, Lucy in the Sky with Diamonds.

Twinkle twinkle

"You would need a jeweller's loupe the size of the Sun to grade this diamond," says astronomer Travis Metcalfe, of the Harvard-Smithsonian Center for Astrophysics, who led the team of researchers that discovered it.

The diamond star completely outclasses the largest diamond on Earth, the 546-carat Golden Jubilee which was cut from a stone brought out of the Premier mine in South Africa.

The huge cosmic diamond - technically known as BPM 37093 - is actually a crystallised white dwarf. A white dwarf is the hot core of a star, left over after the star uses up its nuclear fuel and dies. It is made mostly of carbon.

For more than four decades, astronomers have thought that the interiors of white dwarfs crystallised, but obtaining direct evidence became possible only recently.

The white dwarf is not only radiant but also rings like a gigantic gong, undergoing constant pulsations.

"By measuring those pulsations, we were able to study the hidden interior of the white dwarf, just like seismograph measurements of earthquakes allow geologists to study the interior of the Earth.

"We figured out that the carbon interior of this white dwarf has solidified to form the galaxy's largest diamond," says Metcalfe.

Astronomers expect our Sun will become a white dwarf when it dies 5 billion years from now. Some two billion years after that, the Sun's ember core will crystallise as well, leaving a giant diamond in the centre of the solar system.

"Our Sun will become a diamond that truly is forever," says Metcalfe.


Last Updated: Monday, 16 February 2004, 15:31 GMT

Saturday, November 29, 2008

CMKX - CMKM Diamonds Group Think...!!

CMKX Group Think

Janis, I. L. & Mann, L. (1977). Decision making: A psychological analysis of conflict, choice, and commitment. New York: Free Press.

Eight Main Symptoms of Group Think...

Illusion of Invulnerability:
Members ignore obvious danger, take extreme risk, and are overly optimistic.

Collective Rationalization: Members discredit and explain away warning contrary to group thinking.

Illusion of Morality: Members believe their decisions are morally correct, ignoring the ethical consequences of their decisions.

Excessive Stereotyping:The group constructs negative sterotypes of rivals outside the group.

Pressure for Conformity: Members pressure any in the group who express arguments against the group's stereotypes, illusions, or commitments, viewing such opposition as disloyalty.

Self-Censorship: Members withhold their dissenting views and counter-arguments.

Illusion of Unanimity: Members perceive falsely that everyone agrees with the group's decision; silence is seen as consent.

Mindguards: Some members appoint themselves to the role of protecting the group from adverse information that might threaten group complacency.

Wednesday, November 26, 2008

CMKX - CMKM Diamonds Incorporated ****HAPPY ANNIVERSARY CMKX****

It has now been 6 YEARS since CyberMark(CMKI) became Casavant Mining Kimberlite International Inc. (OTCBB:CMKI)
*****************************************************
SCHEDULE 14C
Information Statement Pursuant to Section 14(c) of the
Securities Exchange Act of 1934

November 25, 2002 (which is the effective merger date with the Casavant Mineral Claims (as defined) in Saskatchewan, Canada), the Company reported on its most recent Form 10-QSB (which was dated September 30, 2002) total assets of $344 in cash; total liabilities of ($1,672) for accounts payable; total stockholders' equity ($1,338); and total liabilities and stockholders' equity of $344.

This was based on the Company's then current share capitalization which consisted of 500,000,000 shares of common voting stock at $.0001 par value with 352,223,510 shares issued and outstanding.
*****************************************************
Outstanding Voting Stock of the Company
In order to effectuate the merger with the Casavant Mineral Claims, the majority shareholders' holding more than 51% of the voting shares approved an increase in the authorized capital of the Company from 500,000,000 to 10,000,000,000 with the cancellation of all Preferred shares.

As of the Record Date, there were 7,241,653,404 shares of Common Stock issued and outstanding. The Common Stock constitutes the outstanding class of voting securities of the Company. Each share of Common Stock entitles the holder to one (1) vote on all matters submitted to the shareholders.

*****************************************************
First PR - 11/26/2002
Casavant Mining Kimberlite International Inc. Announces
Election of Wesley Casavant as Secretary-Treasurer with Field
Responsibilities
*****************************************************

Monday, November 24, 2008

CMKX --- CMKM Diamonds Inc --- ***Citigroup Rescue***

Bloomberg.com
Citigroup Gets U.S. Rescue From Losses, Cash Infusion (Update2)

By Bradley Keoun

Nov. 24 (Bloomberg) -- Citigroup Inc. received a U.S. government rescue package that shields the bank from losses on toxic assets and injects $20 billion of capital, bolstering the stock after its 60 percent plunge last week.

The second-biggest U.S. bank by assets surged as much as 72 percent in New York trading after the Treasury, Federal Reserve and Federal Deposit Insurance Corp. announced the aid plan yesterday. In return for the cash and guarantees, the government gets $27 billion of preferred shares paying an 8 percent dividend and warrants equivalent to a 4.5 percent stake in the company.

The regulators stepped in to protect Citigroup from losses on $306 billion of troubled U.S. home loans, commercial mortgages, subprime bonds and low-grade corporate loans when the firm’s tumbling shares sparked concern that depositors might pull their money, destabilizing a company that operates in more than 100 countries. The $20 billion of new cash adds to a $25 billion infusion the bank, led by Chief Executive Officer Vikram Pandit, collected last month under a Congressional bailout program.

“It really was a must-do thing,” said Nader Naeimi, a Sydney-based strategist at AMP Capital Investors, which manages about $85 billion. “If they’d let Citigroup go, that would’ve been disastrous.”

Citigroup’s stock dropped below $5 last week for the first time since 1994, vexing government officials who in the past three months have pumped $250 billion into U.S. banks, expanded the Fed’s last-resort lending programs by more than $1 trillion and bailed out insurer American International Group Inc. and mortgage finance companies Fannie Mae and Freddie Mac.

Dividend Cut

The shares, which closed last week at a 15-year-low of $3.77, today surged 52 percent to $5.73 as of 2:45 p.m. in New York Stock Exchange composite trading. The stock remains 89 percent off the record $55.70 reached in December 2006.

The cost of the new preferred shares will reduce earnings left over for common shareholders, Morgan Stanley analysts Betsy Graseck and Cheryl Pate wrote today in a report. Under the terms of the deal with the government, Citigroup also has to slash its quarterly shareholder dividend to 1 cent from 16 cents.

Over the longer term, Citigroup’s stock price will appreciate because of “the reduction in ‘tail risk,’” or the chance that losses might be become so heavy the bank can’t sustain them, they said.

“For the foreseeable future, Citi has oxygen,” Royal Bank of Scotland Group Plc analyst Tom Jenkins wrote today in a report.

Losing Streak

Pandit, who has been unable to snap a four-quarter streak of net losses totaling $20 billion since he took the lead at the company in December 2007, said the agreement addresses “market confidence and the recent decline in Citi’s stock.”

“What we really needed to do was completely put behind us the issue of whether Citi would be able to cover the losses that it has out of the capital base that it has,” Chief Financial Officer Gary Crittenden said in an interview. “Under virtually any circumstance that is reasonable, Citi has the ability now.”

The asset guarantees and capital infusion will boost Citigroup’s Tier 1 ratio -- a gauge of the bank’s ability to withstand loan losses -- to 14.8 percent, from 8.19 percent at the end of September. A bank needs a 6 percent Tier 1 ratio to meet the regulatory requirements for “well-capitalized” status, and Citigroup has at least $100 billion more capital than it needs to reach that threshold, Crittenden said.

Vanishing Value

“Today’s government actions seem to ensure its survival,” Sandler O’Neill & Partners LP analyst Jeff Harte wrote today in a report.

Former Chairman Sanford “Sandy” Weill, 75, built Citigroup through more than 100 acquisitions during his 17 years at the helm. The company pioneered the “financial supermarket” concept, offering services including branch banking, trading, investment-banking, credit cards, mortgage lending and transaction processing.

Citigroup’s market value, which at $274 billion at the end of 2006 was bigger than any of its U.S. rivals, has since slumped to $31 billion, ranking No. 6 behind JPMorgan Chase & Co., Wells Fargo & Co., Bank of America Corp., U.S. Bancorp and Bank of New York Mellon Corp.

Addressing employees last week, Pandit, 51, said he wanted to stick with the bank’s business strategy and avoid selling “core businesses” including the Smith Barney brokerage. Crittenden, 55, said in the interview that the stabilization deal with the government will allow investors to “look through to the earnings potential of the franchise.”

‘Stronger Hands’

Investors and Citigroup’s rivals may think differently.

“We should be thinking about breaking this company up and redistributing the assets into stronger hands,” Christopher Whalen of Institutional Risk Analytics, a Torrance, California- based research firm, said in a Bloomberg Radio interview.

Under the asset guarantees, Citigroup will cover the first $29 billion of pretax losses on the $306 billion asset pool, in addition to any reserves it already has set aside. After that, the government covers 90 percent of the losses, with Citigroup covering the rest. In addition to the mortgages, the guarantees cover U.S.-originated “structured investment vehicles,” which already this year have stuck the bank with $3.3 billion of writedowns.

The warrants accompanying the preferred shares give the government the right to buy 254 million Citigroup shares at $10.61 each, allowing taxpayers to profit if the stock rallies following the government’s investment. When combined with the warrants that came with last month’s injection under the Troubled Asset Relief Program, the Treasury would have an 8 percent stake in Citigroup.

Pandit’s Job

The deal is designed to “strengthen the financial system and protect U.S. taxpayers,” according to the statement from the three agencies.

In a departure from terms of the AIG, Fannie Mae and Freddie Mac bailouts, no management changes were required and Pandit gets to keep his job, government officials said. The government will have a say over executive compensation at Citigroup.

The bank still may end up “controlled by the government,” said Whalen, of Institutional Risk Analytics. In an interview with Bloomberg television, Crittenden said he was “quite confident that we will stay out of the government’s hand.”

Prince, Alwaleed

Pandit, a former Morgan Stanley banker, was picked to succeed Charles O. “Chuck” Prince five months after joining the bank as head of hedge-fund and private-equity investments. In May of this year, he announced a plan to rid the bank of more than $400 billion of its worst “legacy assets” -- many of them accumulated through an expansion in subprime mortgages and asset- backed lending during Prince’s four-year tenure.

As the stock tumbled last week, Pandit announced a plan to eliminate 52,000 jobs and cut costs by about $2 billion per quarter. He and three top deputies bought 1.3 million shares in a show of confidence, and Prince Alwaleed bin Talal, one of the bank’s biggest investors, said he would boost his stake to about 5 percent from 4 percent.

The stock kept plunging, and the bank’s board called an emergency meeting on Nov. 21 to discuss its options. The frenzied weekend of discussions with the Fed and Treasury were reminiscent of those that took place when Bear Stearns Cos. collapsed in March and Lehman Brothers Holdings Inc. descended into bankruptcy in September.

Loan Losses

“The lack of confidence in Citi’s stock price required the government to help stem the tide in order to avoid systemic risk over the weekend, which was not enough of a window for any serious bidders for a major takeover or segment sale,” CreditSights Inc. analyst David Hendler wrote today in a report. “These actions should settle market jitters surrounding the company for now.”

Alwaleed, in an interview today on CNBC, laid the blame for Citigroup’s troubles at the feet of Prince, and said he has “full confidence” in Pandit.

“You can never judge a CEO with this short tenure,” Alwaleed said. “Vikram should be given more time.”

Citigroup remains vulnerable to losses on loans and securities outside the U.S., said Peter Kovalski, a portfolio manager at Alpine Woods Capital Investors LLC in Purchase, New York, which oversees $8 billion and holds Citigroup shares. The bank also is keeping its credit-card and consumer-finance loans, where delinquencies also have surged.

The government plan “gives them a little bit of breathing room, but longer term, things may deteriorate and losses increase,” said Kovalski. “The Achilles heel with Citi is their exposure to emerging markets and what’s going to happen when emerging markets turn down, as they’re doing now.”


To contact the reporters on this story: Bradley Keoun in New York at bkeoun@bloomberg.net;

Last Updated: November 24, 2008 14:49 EST

Saturday, November 22, 2008

CMKX --- CMKM Diamonds Inc --- ***Citigroup Demise Part II***

Bloomberg.com
Citigroup May End Up With Government Rescue After Stock Skids

TIME.com
Will Citigroup Survive? Four Possible Scenarios...

CNBC.com
Citigroup Talks, But Nothing 'Walks' To Stabilize...

Citigroup Update: Reports Emerge Of Possible Plan

Topics:Earnings | Nasdaq | NYSE | Stock Picks | Stock Market
Companies:Goldman Sachs Group Inc | Morgan Stanley | Citigroup IncBy Charlie Gasparino, On-Air Editor | 23 Nov 2008 | 01:03 PM ET


Citi officials are reportedly working on a plan that could include a capital injection from the Federal government—among other possible ideas. The details have yet to be hammered out and it's not clear when such a plan would be announced.

Officials from Citigroup [C 3.77 -0.94 (-19.96%) ] and the government had been discussing ways to stabilize the company's stock price over the weekend.

As of Saturday afternoon, the general consensus between officials from Citi and government officials from the US Treasury department and US Federal Reserve is that the government will not takeover Citigroup in the way it took control of AIG—by lending the firm massive amounts of money and in return assuming a huge equity position.

Government officials fear taking over Citigroup would create a precedent: Unlike AIG, Citigroup's balance sheet is relatively healthy, with relatively strong levels of capital particularly compared to most of its competitors.

Still, officials from the Treasury and Citigroup are unsure what it would take to restore confidence in the company, including a possible smaller capital injection or some sort of statement that Citigroup is financially sound.

For that reason, Citigroup officials are continuing to explore possible merger possibilities and a spin off of some of Citigroup's businesses, even as CEP Vikram Pandit publicly stated the sale of the firm's massive and coveted broker business, Smith Barney is off the table, these people say.

Both officials at Citigroup and in the government concede the situation facing Citigoup is daunting. Because of Citigroup's size and scope—it operates in just about every country and competes in just about every financial business, the company's survival is a national concern.

Citigroup has spent the past week telling investors that its capital position is strong, but investors have lost confidence in the current management led by CEO Vikram Pandit who has been in the job less than a year, and the firm's board, which appeared to ignore widespread calls by analysts to integrate the firms operations and slash its massive workforce until recently.

Meanwhile, various merger possibilities seem slim. A deal with investment banks Morgan Stanley [MS 10.05 0.85 (+9.24%) ] or Goldman Sachs [GS 53.31 1.31 (+2.52%) ] would create massive overlap and would lead to huge layoffs. There aren't many banks with a strong deposit base that Citigroup can buy with its depressed stock price.

Pandit, for his part, has cut the workforce to 350,000 from 375,000 and just announced another 50,000-job cut by early 2009. But for investors, those moves were too little too late. Nearly a year ago, Citigroup's share traded at around $50. On Friday they traded at $3.77 and failed to rebound even as the Dow Jones Industrial Average of large company stocks spiked nearly 500 points on the news that President-elect Barack Obama will name NY Fed President Tim Geithner as his new Treasury Secretary.

Citigroup's Ills May Signal Market Isn't Near Bottom
Because Citigroup is a bank it has access the the Federal Reserves discount window, and because of its size, there is virtually no possibility of the bank failing and filing for bankruptcy as investment bank Lehman Brothers did. "Citigroup is too big to fail; the government wont allow that because the firm is involves in so many business both institutional and consumer around the world," said one bond trader with detailed knowledge of Citigroup's operations.

Investor fear remains deep despite one-day rally
But the lack of confidence coupled by the falling stock price could pose other problems, such as a run on bank deposits, where worried depositors yank their money from their Citigroup accounts, or investors pulling their funds from their Smith Barney brokerage accounts. A Citigroup spokesman declined to say if the company is experiencing either of those scenarios.

For that reason, Citigroup officials continued to work over the weekend to possibly unveil some sort of plan of action by Monday morning. "Everyone knows saving Citigroup is important to saving the economy, but no one knows what to do," said one person close to the firm.


Copyright 2008 Reuters.

Thursday, November 20, 2008

CMKX --- CMKM Diamonds Inc --- ***Citigroup Demise...??***

Citigroup Executives Weigh Selling Off All or Part of Company, WSJ Reports

Citigroup Considers Sale of Company, Wall Street Journal Says

By Jesse Westbrook

Nov. 20 (Bloomberg) -- Citigroup Inc., which fell 26 percent in New York trading today, is considering selling off pieces of the bank or the whole company, the Wall Street Journal reported online, citing people familiar with the matter.

Talks are preliminary and don’t suggest that New York-based Citigroup is backing away from its insistence that it has sufficient capital and funding, the Journal said.

Buffeted by four straight quarterly losses, Citigroup has raised about $75 billion since December by selling assets and equity stakes, including a $25 billion injection from the U.S. Treasury. The government will do whatever it takes to stabilize Citigroup, including pouring more money into the company, because of the threat its failure would pose to the global economy, said Peter Wallison, a fellow at the Washington-based American Enterprise Institute.

“There is no question that Citigroup will not be allowed to fail,” said Wallison, who was Treasury Department general counsel under former President Ronald Reagan. “I would not think it is a good idea to restore the ban on short selling,” he said.

Citigroup declined $1.69 to a 15-year low of $4.71 on the New York Stock Exchange at 4:15 p.m. It has fallen 84 percent this year.

Citigroup has lost about $20 billion in the past four quarters as bad loans increased and demand for banking services declined. Chief Executive Officer Vikram Pandit said this week the company will cut 52,000 jobs in the next year to lower costs.

Citigroup is seeking to revive a prohibition on short- selling financial stocks, according to a person familiar with the matter. The bank has discussed with the Securities and Exchange Commission and lawmakers its proposal to reinstitute the ban on bets that stock prices will fall, said the person, who declined to be identified because the discussions weren’t public.


To contact the reporter on this story: Jesse Westbrook in Washington at jwestbrook1@bloomberg.net.

Last Updated: November 20, 2008 20:46 EST

Tuesday, November 18, 2008

CMKX -- CMKM Diamonds Inc. -- Shareholders' Corner *Tyler Update*

Shareholders' Corner
11-18-08

A quick note to dispel recent rumors. The phrase of the week is "patently false".

First of all, concerning the recent judgment in the Rutherford lawsuit, our attorney in Las Vegas contacted the plaintiff's attorney's office and spoke with his assistant. Here is our attorney's response on the issue:

"Just called his assistant and confirmed it was not against CMKM Diamonds (only against Casavant and CMKXtreme). They said they have not received the judgment back from the court yet, which is why it has not showed up on the system to date. The online docket will often say 'All Parties' under docket entries, but that does not mean the judgment applies to all parties, just that all parties may be affected. The only Motion for Default Judgment on file (filed in May) does not include CMKM Diamonds. The electronic documents on the court's system do not yet include the recent prove up documents."

In the unlikely event the company is incorrectly named in the final default judgment, a motion to set aside the default will be promptly filed. The company’s attorney has appeared at all required settings and is prepared to defend the company against the claims made by Jay Rutherford.

Now on to the "patently false" part of the update:

Kevin West is the Chairman of the Board of CMKM Diamonds. Information posted on the message boards that he has "moved on" are patently false. Although it is true that Kevin is working primarily out of his own office, he is actively involved in all Company decisions and is in close contact with me on a daily basis. Any rumors to the contrary are patently false.

I was NOT chosen by Bill Frizzell to succeed Kevin West as CEO of CMKM Diamonds, Inc. In fact, Frizzell was not even notified of the decision until after the Board of Directors and former CEO Kevin West had offered me the position. Frizzell is the Corporate Counsel, and as such, has no involvement in the hiring or firing of Company employees.

My work with CMKM is NOT for the intention of promoting my book. If anything, I took the job against the advice of many of my closest associates and friends, who felt that it would be detrimental to my efforts to remain an objective voice for reform of our stock markets. I did it because I believed (and still believe) that I can do some good for the Company and its shareholders. Those who bash the Company and claim that we are involved out of greed or our own personal gain are entirely misguided.

My recent involvement with a project that I hope will bring widespread exposure not just to the plight of CMKM Diamonds but to the issue of stock market fraud in general is not in any way related to The Owners Group Inc. (TOGI) or to Fuego Entertainment. Anything posted implying that is patently false. It is an independent project that I was approached about because of my five years as an (entirely unpaid) advocate for stock market reform. After reading my book on the topic, the producers decided to include the CMKX story in the documentary, along with the story of my efforts on behalf of reforming our financial markets in general. Frankly, it is becoming increasingly difficult for me to make the case to the film's producers that the CMKX shareholders are victims when in fact many shareholders have attacked even those who are trying to help them.

In fact, TOGI is not in any way related or involved with CMKM Diamonds. It is a fact that Bill Frizzell was originally approached by John Martin in an attempt to help CMKX shareholders before the SEC delisting hearing, and it is a fact that both are themselves CMKX shareholders, but to imply that somehow TOGI is involved with CMKM is ludicrous and patently false. They provide an outlet to air our monthly CEO Chat radio shows, completely free of charge, but that is the extent of their involvement. Period.

There has been much discussion about moneys paid to those currently working for the Company. This issue has been addressed several times, but I'll cover it once more. I have not received a single penny to date from CMKM Diamonds, Inc. The salary I was offered was $10,000 per month, but I have voluntarily deferred that salary for the time being. In fact, I'll go a step further. Because much of the groundwork has already been laid through the considerable efforts of Kevin West and Bill Frizzell, the position of CEO is not at this time, in my opinion, a full time position. Therefore, any compensation I receive will be pro-rated based on the amount of time required to perfo

any future employment agreements with others who may or may not become involved with the Company. Board of Directors and Advisory Committee members receive absolutely no payment or compensation of any kind. They have chosen to assist the Company on an entirely voluntary basis. As an active employee and Chairman of the Board, Kevin West is entitled to a partial salary.

In any event, no shareholders' money originally invested in CMKM Diamonds, Inc. is being used to pay any salaries, bills, or other costs related to running the Company. The over $250 million dollars originally invested in CMKM Diamonds, Inc. was stolen by former Company officers and insiders. On more than one occasion, on a single day, Urban Casavant gave himself and family members millions of dollars of shareholders' money. John Edwards, David DeSormeau, and many others enriched themselves to obscene degrees using the Company and shareholders' money as well. To imply that there is any comparison between the formerly involved con artists, who defrauded CMKM and its shareholders, and current individuals who are attempting to recoup money stolen from the Company is ridiculous and patently false.

My efforts for the Company will continue, as will the efforts of Kevin West, Bill Frizzell, our Board of Directors, Advisory Committee, and anyone else who has assisted the Company. The Company is moving forward. Results take time, especially when it comes to legal efforts. I am as frustrated as anyone about that simple fact, but nonetheless, it is a fact. Those who not support us are entitled to their opinions, but I repeat: this Company is moving forward. Any outlandish assumptions or misinformation that emanates from outside the Company should be assumed to be patently false unless directly confirmed by the Company itself.

The next CEO Chat will be Friday, December 5, 2008, from 9-10 AM CST at www.toginet.com All archived shows will be accessible via the CMKM Radio Player. Please send your inquiries and comments to questions@cmkmdiamondsinc.com

Mark Faulk, CEO
CMKM Diamonds, Inc.

Monday, November 17, 2008

CMKX - Ends With CITI...??

Citigroup's Pandit Will Reduce Headcount by 50,000, Lower Expenses by 20%

Citigroup Cutting 53,000 More Jobs

Citi to Cut 53,000 Jobs, Boosting Total to 20%

Citigroup to shed another 53,000 jobs

Citigroup's Stock Plunges Despite Major Job Cuts

Will Citigroup (C) Be Sold To JP Morgan (JPM) Or Taken Over Like AIG (AIG)?

If the press is right, Citigroup (C) is about to hold a big pep rally with its CEO Vikram Pandit raising the cheer followed by an announcement that it will fire another 35,000 people. Morale will never be better.

But, the markets are wise, and they are saying that there is a very reasonable chance Citi may not survive as an independent entity. It is no secret that the bank's shares, which are trading below $10, are off much more over the last year than those of the other large US money center banks

Citi is at a tipping point like a cow in a field at midnight. If its stock continues to drop sharply, the market and the bank's customers may begin to lose faith and withdraw assets or cease doing business with the firm. If Citi announces that its financial fortunes will get worse between now and its next earnings report, it may say that the damage within some of its division cannot be contained.

That leaves the question of whether Citi becomes the next Wachovia or the next AIG (AIG). If the Fed and Treasury become concerned enough about the bank and have to intercede with more capital, the government may pressure Citi's board to sell the company to the highest bidder within its own industry. That may be the well-run JP Morgan (JPM) The FDIC might have to guarantee some of Citi's assets to accommodate a transaction, but there is recent precedent for the government to bend in that direction.

If the problems at Citi deteriorate quickly and its falls, as it certainly does, into the "too big to fail" bucket, the government may simply have to pour cash into the bank in exchange for a majority ownership position. That would involve bringing in new management to sell of enough assets to get the bank stable. The government would hope against hope that those sales would bring in enough money for the taxpayer to get some return.

Citi's share price is a signal and it may become brighter and more troubling as the year moves toward a close.


Douglas A. McIntyre

Friday, November 14, 2008

CMKX - You Can't Be Serious...??

WHAT...??

"The More Positive The Sentiment Towards A Certain Citi, The Better.
Knight Has Fallen Upon Us And A Master Has Left His Legacy!
A Giant Will Fall And A New Giant Will Reign!
Sally Knew When To Get Out!
The Auto Makers Are Second In Line With A "Bailout" Making The First In Line Of Priority The Utmost To The "Beneficiary" Of The CMKM Shareholder!!!
Funds Will Be Released Within Days!!"

- Guess WHO...??

Saturday, November 1, 2008

CMKX - acca's Web Page Has Been UPDATED...!!

accadacca's CMKM Diamonds Web Page Has Been UPDATED...!!
www.cmkm.info

NEW AC/DC Music...!!

"Information Will Be Available On This Website November 15 Or Earlier."

acca Says By November 6th...

Previously, This Website Said "Info By May"...??


Editor's Note - Now I Feel MUCH Better...!!

Friday, October 31, 2008

CMKX - OT - Just One More Question...

Sorry to bother you Mr. Obama, Sir...


Excuse me Mr. Obama, I mean Senator Obama, sir. Um .. know you are busy and important and stuff. I mean running for president is very important and . . . ah . .. . I hate to bother you. I will only take a minute ok, sir?

See, I have these missing pieces that are holding me up, and I was wondering sir, if you could take time out of your busy schedule and help me out. You know, no big deal, just some loose ends and things.

I can't seem to get some information I need to wrap this up. These things seem to either be "locked" or "not available'. I'm sure it's just some oversight or glitch or something, so if you could you tell me where these things are .. I . . I . . . have them written down here somewhere . . . oh wait. Sorry about the smears. It was raining out. I'll just read it to you.

Could you help me please find these things, sir?

1. Occidental College records -- Not released
2. Columbia College records -- Not released
3. Columbia Thesis paper -- not available, locked down by faculty
4. Harvard College records -- Not released, locked down by faculty
5. Selective Service Registration -- Not released
6. Medical records -- Not released
7. Illinois State Senate schedule -- "not available"
8. Law practice client list -- Not released
9. Certified Copy of original Birth certificate - - Not released
10. Embossed, signed paper Certification of Live Birth -- Not released
11. Harvard Law Review articles published -- None
12. University of Chicago scholarly articles -- None
13 Your Record of baptism-- Not released or "not available"
14 Your Illinois State Senate records--"not available"

You couldn't get a job at McDonalds and become district manager after 143 days of experience.

You couldn't become chief of surgery after 143 days of experience of being a surgeon.

You couldn't get a job as a teacher and be the superintendent after 143 days of experience.

You couldn't join the military and become a colonel after 143 days of experience.

You couldn't get a job as a reporter and become the nightly news anchor after 143 days of experience.

BUT....

'From the time Barack Obama was sworn in as a United State Senator, to the time he announced he was forming a Presidential exploratory committee, he logged 143 days of experience in the Senate. That's how many days the Senate was actually in session and working. After 143 days of work experience, Obama believed he was ready to be Commander In Chief, Leader of the Free World .... 143 days.

We all have to start somewhere. The senate is a good start, but after 143 days, that's all it is - a start.

AND, strangely, a large sector of the American public is okay with this and campaigning for him. We wouldn't accept this in our own line of work, yet some are okay with this for the President of the United States of America ?

Come on folks, we are not voting for the next American Idol!

Tuesday, October 28, 2008

CMKX -- OT -- It's Almost Election Day... World History 101 Review...

For those who slept through World History 101......
Here is a condensed version.


Humans originally existed as members of small bands of nomadic hunters/gatherers. They lived on deer in the mountains during the summer and would go to the coast and live on fish and lobster in the winter.

The two most important events in all of history were:

1. The invention of beer, and

2. The invention of the wheel. The wheel was invented to get man to the beer, and the beer to the man.

These facts formed the foundation of modern civilization and together were the catalyst for the splitting of humanity into two distinct subgroups:

1. Liberals
2. Conservatives.

Once beer was discovered, it required grain and that was the beginning of agriculture. Neither the glass bottle nor aluminum can were invented yet, so while our early humans were sitting around waiting for them to be invented, they just stayed close to the brewery. That's how villages were formed. Some men spent their days tracking and killing animals to B B Q at night while they were drinking beer. This was the beginning of what is known as the Conservative movement.

Other men who were weaker and less skilled at hunting learned to live off the conservatives by showing up for the nightly BBQ's and doing the sewing, fetching, and hair dressing. This was the beginning of the Liberal movement. Some of these liberal men eventually evolved into women. The rest became known as girlie-men.

Some noteworthy liberal achievements include the domestication of cats, the invention of group therapy and group hugs, the evolution of the Hollywood actor, and the concept of Democratic voting to decide how to divide all the meat and beer that conservatives provided. Over the years, Conservatives came to be symbolized by the largest, most powerful land animal on earth, the elephant. Liberals are symbolized by the jackass.

Modern liberals like imported beer (with lime added), but most prefer white wine or imported bottled water. They eat raw fish but like their beef well done. Sushi, tofu, and French food are standard liberal fare. Another interesting evolutionary side note: most of liberal women have higher testosterone levels than their men. Most social workers, personal injury attorneys, journalists, dreamers in Hollywood and group therapists are liberals. Liberals invented the designated hitter rule because it wasn't fair to make the pitcher also bat.

Conservatives drink domestic beer. They eat red meat and still provide for their women. Conservatives are big-game hunters, rodeo cowboys, lumberjacks, construction workers, firemen, medical doctors, police officers, corporate executives, athletes, Marines, and generally anyone who works productively. Conservatives who own companies hire other conservatives who want to work for a living.

Liberals produce little or nothing. They like to govern the producers and decide what to do with the production. Liberals believe Europeans are more enlightened than Americans. That is why most of the liberals remained in Europe when conservatives were coming to America . They crept in after the Wild West was tamed and created a business of trying to get more for nothing.

Here ends today's lesson in world history.......

Monday, October 27, 2008

CMKX - "Ends With CITI...??"

Citigroup (C) is not going to make it, at least not as an independent company. The FT has reported that the head of Goldman Sachs (GS) called Citigroup CEO Vikram Pandit to discuss a merger. Goldman had converted itself into a commercial bank. Maybe it was worried it would go the way of Morgan Stanley (MS). But, the Treasury has come up with capital for all the big financial firms, so the urge to do something has probably passed for the world's premier investment bank.

It is different for Citigroup. There things have gone from bad to worse.

Citigroup is not likely to make it as an independent company. It will not be a buyer. It will be sold.

If the bank's stock price and analysts covering the company are right, Citi's fate could be determined by the end of the year. Over the last month, shares in the bank are down by 40%. Rival JPMorgan (JPM) is off 2%. Wells Fargo (WFC) is up 10%. Citi's market cap is down to $66 billion. Bank of America's is nearly $100 billion.
In the last quarter Citi lost $2.8 billion, or $.60 per share, compared with a profit of $2.2 billion, or $.44, in the period a year ago. Revenue fell 23% to $16.7 billion

Bank analyst Meredith Whitney, who has been right more often than not on bank stocks, says that troubles in Citi's consumer group will drive up its losses more than expected. She cut her earnings estimates on the bank to a 2008 loss of $2.87 per share and a loss of $2.65 in 2009. Citi may not have the capital to cover those losses even with the government's cash injection.

What Whitney did not factor in just a week ago is that the credit crisis and signals of a recession have become much worse in a matter of days. Mortgage defaults are likely to rise more sharply then they have been as people lose jobs. The consumer's ability to pay his credit cards debt will deteriorate sharply. Citi's investment banking business is dead as a doornail. Most LBO loans are dropping in value as each week passes.

Citi will not report Q4 earnings for almost three months. It may run into awful trouble before that. The Fed and Treasury are going to have to find a merger candidate. Most likely that will be JP Morgan (JPM) because Bank of America (BAC) and Wells Fargo (WFC) are already digesting big acquisitions. Or, the government may turn around and take a majority stake in the money center bank the way it did with AIG (AIG) where it has already provided $90 billion in loans.

Vikram Pandit will have failed. It may take a little while for that to become absolutely clear, but Wall St. can take it to the bank. Or, maybe not.

Douglas A. McIntyre

Friday, October 24, 2008

CMKX --- CMKM Diamonds Inc. Recap.... Starts With CITI...??

---------------------------------------------------------------------------
Q: hey acca you always said .. starts with citi and ends with citi.
Are we waiting on the citi?


A: Now does everybody understand what does citi group mean, citigroup financial?
lets get something straight here.
that, they are the reason why you are going to be paid the amount you are going to get paid. that’s it. all i have to say.

the demise of citi group. once that happens .. the gates will open for cmkx.

Q: is the demise of citi group the event that we have been talking about for years?
you always said its event driven.. is that the event?

A: i have to answer yes.
---------------------------------------------------------------------------
Bloomberg.com - Citigroup Quote

Citigroup... Today $12.14 Down .97 - 7.399 %

Citigroup Down 72 % from 52 week high...!! $12.14 / $43.11

---------------------------------------------------------------------------
ISN'T 72% DOWN A 'DEMISE'...?? HOW MUCH LONGER...??

Thursday, October 23, 2008

CMKX - Some Polls Show Presidential Race Tightening...

Obama Holds National Lead as Some Polls Show Presidential Race Tightening

Bloomberg.com

By Catherine Dodge and Christopher Stern

Oct. 23 (Bloomberg) -- Barack Obama is holding an average lead of 7 percentage points over John McCain nationally even as some polls show the race tightening 12 days before the election.

More than a dozen national polls have been released this week showing the margin in the presidential race ranging from 1 percentage point to 14 points.

Three surveys -- from the Associated Press-GfK, George Washington University and an Investors Business Daily/TIPP poll - - show McCain closing the gap with Obama.

The AP poll puts Obama at 44 percent to McCain's 43 percent, compared with a 7 percentage point advantage for Obama in their September survey. The GW Battleground poll showed Obama's edge at 2 points, down from 7 points in the middle of October, while the IDB/TIPP tracking survey has the margin for the Democrat narrowing to 1 point from 5 points at the start of the week.


Other polls, including those by Fox News, the Wall Street Journal/NBC, and Gallup show Obama either holding or expanding his lead over McCain. The average of 14 national polls taken between Oct. 16 and Oct. 22 is just over 7 percentage points, according to data compiled by Realclearpolitics.com. The gap has increased steadily since mid-September.

Poll results can vary because researchers use different methods and assumptions for defining likely voters, said Karlyn Bowman, who tracks polling at the American Enterprise Institute in Washington. Differences in how questions are asked and how much respondents are pushed in one direction or another can also cause discrepancies, she said.

Timing

Ed Goeas, a Republican pollster who supervised the GW poll with Democratic pollster Celinda Lake, said the timing of the poll also can affect results. The GW poll didn't survey people on Friday and Saturday nights.

``I think there are a lot of the harder core Republicans that are family adults that just will not engage in polling over the weekend,'' Goeas said.

In addition, some pollsters have an ``unrealistic'' expectation that the youth vote will dramatically increase this year, he said. Younger voters tend to be Obama voters by large margins.

Because the presidency isn't won directly by popular vote, Obama and McCain are waging a state-by-state battle to get the 270 Electoral College votes needed to claim the White House. The states have electoral votes equal to their representation in Congress. Washington D.C. gets three electoral votes.

Battlegrounds

Obama leads McCain, an Arizona Republican, in the key battleground states of Florida, Ohio and Pennsylvania, according to a Quinnipiac University poll. The three states combined have 68 electoral votes and have played a central role in recent elections.

Obama is ahead by 5 percentage points in Florida, 14 in Ohio and 13 in Pennsylvania, the surveys, conducted Oct. 16-21 found.

McCain has narrowed Obama's lead in Florida from three weeks ago, but fell further behind in Ohio as concerns about the economy continue to shape voters' views, the polls found. Ohio and Florida both went to Republican President George W. Bush in the last two elections, while Pennsylvania gave its 21 electoral votes to the Democratic candidate both times.

If the numbers hold up, Obama ``could win the biggest Democratic landslide since Lyndon Johnson in 1964,'' Peter Brown, assistant director of Hamden, Connecticut-based Quinnipiac University Polling Institute, said in a statement.

The Florida and Pennsylvania polls have a margin of error of plus or minus 2.6 percentage points, while the Ohio poll has an error margin of plus or minus 2.7 points.

Nevada, North Carolina

Polls by CNN and Opinion Research also showed the Democrat ahead in Nevada, North Carolina and Virginia, while McCain holds a lead in West Virginia. Obama also led in Ohio in the CNN survey.

Virginia hasn't gone for a Democratic presidential candidate since 1964 and North Carolina last gave its electoral votes to a Democrat in 1976. Nevada has voted for the Republican in eight of the last 10 elections.

The CNN polls found Obama ahead by 5 percentage points among likely voters in Nevada, 4 points in North Carolina and Ohio, and 10 points in Virginia. McCain leads in West Virginia, which was won by Bush in 2000 and 2004, by 9 percentage points.

The CNN state polls have a margin of error of plus or minus 3.5 percentage points for surveys in Nevada and Ohio and 4 percentage points in the other three states.

To contact the reporter on this story: Catherine Dodge in Washington at cdodge1@bloomberg.net; Christopher Stern in Washington at cstern3@bloomberg.net

Last Updated: October 23, 2008 16:15 EDT

Wednesday, October 22, 2008

CMKX - Have No Fear... All Is Well...??

Bloomberg.com

Economy

Argentine Default Looms as Seizure of Private Pensions Roils Bonds, Stocks

Argentina's planned seizure of $29 billion of private pension funds stoked concern the nation is headed for its second default in a decade.

Bank of England Voted Unanimously for Emergency Half-Point Rate Reduction
Bank of England policy makers voted unanimously to lower the benchmark interest rate by the most since 2001 in an emergency meeting this month on signs that Britain had entered a recession.

Hungary Increases Key Rate to 11.5% in Emergency Measure to Defend Forint
Hungary raised its benchmark interest rate by 3 percentage points, the biggest increase in five years, and pledged measures to shore up the economy after steps to halt the flight of investors failed.

King Says Bank of England Will Act `Promptly' as Recession Seems Likely
Bank of England Governor Mervyn King said Britain's worst banking crisis since World War I is likely to push the economy into a recession, requiring policy makers to act ``promptly'' to prevent inflation from slowing too much.

New Home Sales in U.S. Will Decline by 12% Next Year, Mortgage Bankers Say
U.S. new-home sales will fall 12 percent next year as housing starts drop by a record, Mortgage Bankers Association Chief Economist Jay Brinkmann said.

Bank of Japan May Pay Interest on Deposit Reserves, Morgan Stanley Says
The Bank of Japan may announce next week that it will start paying interest on reserves lenders deposit at the central bank to counter the global financial turmoil, Morgan Stanley said.

New Zealand May Slash Benchmark Rate By Record 100 Basis Points Tomorrow
New Zealand central bank Governor Alan Bollard will probably cut interest rates tomorrow by a record amount to limit damage from the global financial crisis.

Brown Predicts First U.K. Recession Since Labour Came to Power in 1997
Prime Minister Gordon Brown predicted the U.K. will slip into a recession for the first time since he took charge of Britain's finances in 1997.

Paulson Plans to Buy Mortgages, Use `Leverage' to Aid Struggling Borrowers
Treasury Secretary Henry Paulson aims to intensify efforts to stem record mortgage foreclosures, using part of the government's $700 billion financial-rescue fund to purchase home loans.

Barney Frank Wields Bailout Clout to Restrain Private Equity, Hedge Funds
U.S. Representative Barney Frank is walking through Statuary Hall in the Capitol, a portrait of rumples and wrinkles. His left shirttail hangs out over his belt. Reporters and photographers are hounding him. Cameras are whirring. Questions are being shouted.

Bank of England Voted Unanimously for Emergency Rate Cut: Table of the Day
The following table details the changes in the Bank of England's benchmark interest rate.


Fed Watch

Fed Will Provide $540 Billion to Help Money-Market Funds Meet Redemptions

The Federal Reserve will provide up to $540 billion in loans to help relieve pressure on money-market mutual funds beset by redemptions.

Bernanke Backs Consideration of Second Stimulus Package on `Weak' Outlook
Federal Reserve Chairman Ben S. Bernanke endorsed additional fiscal stimulus, saying the credit crunch is ``hitting home'' as Americans find it harder to get loans, threatening a prolonged economic slump.

Fed's Lockhart Says U.S. Weakness to Persist, Easing Inflationary Pressure
The continuing freeze in credit markets will result in weak U.S. economic growth well into next year while dampening inflationary pressures, said Dennis Lockhart, president of the Federal Reserve Bank of Atlanta.

Tuesday, October 21, 2008

CMKX - Goldman... Citigroup Is a Sell...!! Starts With CITI...??

Acca MP3, Oct.10/08

Q: hey acca you always said .. starts with citi and ends with citi.
Are we waiting on the citi?

Q: acca does the current banking fiasco have any bearing on us getting paid?

A: as i said before i want to say no. Now does everybody understand what does citi group mean, citigroup financial?
lets get something straight here.
that, they are the reason why you are going to be paid the amount you are going to get paid. that’s it. all i have to say.

the demise of citi group. once that happens .. the gates will open for cmkx.

Q; is the demise of citi group the event that we have been talking about for years?
you always said its event driven.. is that the event?

A: i have to answer yes.

Citigroup Is a Sell
Bloomberg.com

Citigroup May Not Report Profit Until Late 2009, Goldman Says

By Jeff Kearns

Oct. 21 (Bloomberg) -- Citigroup Inc., the second-largest U.S. bank, may not be able to report a profit until the second half of 2009 because of worsening credit conditions, said Goldman Sachs Group Inc., which reinstated the shares at ``sell.''

``It will be difficult for Citi to generate profitability over the next 12 months as additional write-downs, lower levels of capital markets activity, and further deterioration in credit quality trends will continue to weigh on the firm's operating results and capital ratios,'' analyst William Tanona wrote.

Citigroup slipped 3.6 percent to $14.55 at 8:23 a.m. in New York. Before today, the shares had lost 49 percent this year.

The analyst added Citigroup to Goldman's ``Americas Conviction Sell List.''

To contact the reporter on this story: Jeff Kearns in New York at jkearns3@bloomberg.net.

Last Updated: October 21, 2008 08:34 EDT


UPDATE 1-Goldman Sachs recommends "sell" on Citigroup
Reuters.com

Tue Oct 21, 2008 8:39am EDT

Oct 21 (Reuters) - Goldman Sachs reinstated Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) with a "sell" rating and recommended a "paired" trade in which investors sell Citigroup short, betting on a decline, and buy Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) shares.

Shares of Citigroup, the giant U.S. bank, fell 4 percent to $14.45 in trading before the bell.

"We believe weak economic data will keep the stock under pressure over the next six months and it is tough to see why the stock would head higher over this period," analyst William Tanona said in a note to clients.

Adding Citigroup to Americas Conviction Sell list, Tanona said it will be difficult for the company to generate profitability over the next 12 months primarily due to additional write-downs and deteriorating credit market.

Tanona has a six month price target of $11 on Citigroup.

On Morgan Stanley, the analyst said the company has very limited exposure to consumer credit, which is an area the brokerage believes will provide the most significant headwinds for Citigroup in 2009.

Morgan Stanley will generate profits over the next four quarters, thus adding to its capital base, whereas Citigroup will lose money, thus reducing its capital base, Tanona added. (Reporting by Sweta Singh in Bangalore, Editing by Dinesh Nair)

Thursday, October 16, 2008

CMKX - This Stuff Just NEVER Gets OLD...

Oct 14, 2008, 9:23pm
Q - Are we still looking for an SEC release or simply something in the mail?
Is everything ready to go?
A - Mail, Everything Is Great!!

Oct 14, 2008, 8:56pm
Q - Is election day the line in the sand?
A - I Think The Latest Possible Date Would Be In November!

Well, Maybe Just A Tad OLD...

04 Apr 2005, 07:55 PM EDT
Just A Delay People, Deals Of This Magnitude Often Have Delays! Either You Believe, Or You Don't, It's That Simple!! It Will Come, Just Have The Faith, If You Don't Believe Then Move On Very Simple!



Can 3 1/2 YEARS be considered "Just A Delay" ??????

Friday, October 10, 2008

CMKX - CMKM Diamonds Inc. Rescue/Bailout/Payment Plan...!!

*** ATTENTION *** *** ATTENTION *** *** ATTENTION ***

*** WEEKEND MEETING AT WHITE HOUSE ***

President Bush... Secretary Paulson...
Chairman Bernanke... Chairman Cox...
International Monetary Fund...
G7 Finance Ministers and Central Bankers


* Please Just Pay 40,000 - 60,000 CMKX Shareholders NOW...!! *

40,000 - 60,000 Mortgages Paid Off...!!

40,000 - 60,000 New Homes Purchased With CASH...!!

40,000 - 60,000 Vacation Homes Purchased With CASH...!!

50,000 - 100,000 Car Loans Paid Off...!!

50,000 - 100,000 New Cars Purchased With CASH...!!

80,000 - 120,000 College Loans And Tuition Paid Off...!!

40,000 - 60,000 Families Paying More Taxes...!!

40,000 - 60,000 Families Spending A TON OF MONEY...!!

So PLEASE Put An End To This Financial Turmoil...

* Please Just Pay 40,000 - 60,000 CMKX Shareholders NOW...!! *


coxc@sec.gov,
chairmanoffice@sec.gov,
tradingandmarkets@sec.gov,
oig@sec.gov,
newyork@sec.gov,
losangeles@sec.gov,
enforcement@sec.gov,
oiea@sec.gov,
publicinfo@sec.gov,
help@sec.gov,
mccoyj@sec.gov,
whitem@sec.gov,
hakalal@sec.gov,
tysonr@sec.gov,
thomsenl@sec.gov,
cmkmdiamonds@sec.gov

CMKX - Bush Says U.S. Using `Wide Range of Tools' on Crisis...

Bloomberg.com

Bush Says U.S. Using `Wide Range of Tools' on Crisis (Update1)

By Demian McLean and Catherine Dodge

Oct. 10 (Bloomberg) -- President George W. Bush said the U.S. government will ``aggressively'' use a ``wide range of tools'' to help stabilize markets and resolve the financial crisis.

``The United States government is acting; we will continue to act to resolve this crisis and restore stability to our markets,'' Bush said at the White House. ``This has been a deeply unsettling period for the American people.''

Bush sought to reassure Americans that the $700 billion rescue plan passed by Congress last week is comprehensive enough to solve the credit crisis that is creating widespread uncertainty throughout the economy.

Comments by Bush and members of his administration haven't calmed markets since the Senate cleared the legislation on Oct. 1. Since then, Bush has spoken publicly or issued statements about the rescue plan seven times, and the Dow Jones Industrial Average declined by 20.8 percent. Stocks sank again this morning, capping the worst week ever for the Standard & Poor's 500 Index.

The U.S. president said the government has acted on several fronts, including injecting hundreds of billions of dollars into the financial system, coordinating a global cut in interest rates, and expanding the amount of money that is insured in savings accounts.

``Fellow citizens, we can solve this crisis and we will,'' Bush said.

`Aggressive' Plan

``The plan we are executing is aggressive,'' Bush said. ``It will take time to have its full impact. It is flexible enough to adapt as the situation changes. And it is big enough to work.''

Bush meets tomorrow with finance ministers from the Group of Seven industrial nations, as his predecessor, former President Bill Clinton, did with the group during a 1998 financial crisis.

The G-7 ministers and central bankers meet today in Washington, facing a breakdown in investor confidence in their ability to end the credit freeze endangering the global economy.

Threatened by the worst economic outlook in a quarter century, officials arrived in Washington still without the broad- based strategy that investors were seeking, raising the risk of further turmoil if their remedies disappoint. Among the options: a proposal by U.K. Chancellor Alistair Darling for nations to guarantee lending between banks, a suggestion that U.S. Treasury Secretary Henry Paulson hasn't ruled out.

To contact the reporter on this story: Demian McLean in Washington at dmclean@bloomberg.net; Catherine Dodge in Washington at Cdodge1@bloomberg.net.

Last Updated: October 10, 2008 11:29 EDT

Thursday, October 9, 2008

CMKX - Bush Plans Statement Tomorrow to `Assure' Nation...

Bloomberg.com

Bush Plans Statement Tomorrow to `Assure' Nation (Update2)

By Demian McLean
Oct. 9 (Bloomberg) -- President George W. Bush will address the nation tomorrow to tell Americans they should remain ``confident'' amid falling stock markets and a worldwide credit crisis, administration spokeswoman Dana Perino said.

The president wants to ``assure'' the country that Treasury Secretary Henry Paulson and other administration officials are making ``every effort to stabilize our financial system,'' Perino said.

The statement, spurred by ``volatility'' in U.S. markets today, will be given at 10:25 a.m., Perino said.

The Dow Jones Industrial Average fell below 9,000 for the first time since 2003 today, closing at 8,579.19. The Standard & Poor's 500 Index fell for the seventh day, losing 7.6 percent to 909.92. Higher borrowing costs and slower consumer spending have spurred concern that carmakers, insurers and energy companies will be the next victims of the credit crisis.

Previous statements by Bush and members of his administration haven't calmed markets since Congress passed a $700 billion bailout package intended to shore up banks and other financial institutions and stabilize markets.

Since Oct. 1, when the Senate gave final passage to the legislation, Bush has spoken publicly or issued statements about the rescue plan and the markets six times and the Dow has fallen 20.8 percent.

`Fear Level'

``Right now the fear level among investors is high and it's hard to see anything from him making much of a difference,'' said Frederic Dickson, who helps oversee $25 billion as chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon.

The two major party presidential candidates, Democrat Barack Obama and Republican John McCain, also have sought to reassure the public as they urge government officials to continue working to solve the situation.

``Now is not the time for fear or panic, but for all of us to come together with resolve and determination that we can steer ourselves out of this crisis,'' Obama, an Illinois senator, said in a statement issued tonight.

``We have to get this economy turned around and we have to get it turned around immediately,'' McCain, a senator from Arizona, said at a campaign event today in Wisconsin.

Additional Steps

As markets continued to tumble and credit markets remained locked, the U.S. and other government have taken several additional steps.

The Federal Reserve, European Central Bank, Bank of England, Bank of Canada and Sweden's Riksbank each cut their benchmark rates by half a percentage point.

The U.S. Treasury has begun selling an additional $40 billion of debt to meet demand for government securities in an effort to address shortages. Officials said today the Treasury is planning to buy stakes in a wide range of banks as another effort to unfreeze credit.

In the U.K., Prime Minister Gordon Brown is engineering a 50 billion pound ($87 billion) program that partly nationalizes at least eight British banks. Officials in Japan and Spain also announced steps to inject public money into banks and finance companies.

``Economic officials are aggressively taking every action,'' Perino said today. ``The Treasury is moving quickly to use new tools to improve liquidity, which is the root cause of this problem.''

Paulson and Federal Reserve Chairman Ben S. Bernanke will meet with their counterparts from the Group of Seven major industrial nations tomorrow in Washington. Bush plans to meet with the finance ministers at the White House the following day, along with the heads of the International Monetary Fund and the World Bank.

To contact the reporter on this story: Demian McLean in Washington at dmclean@bloomberg.net.

Last Updated: October 9, 2008 19:58 EDT

Tuesday, October 7, 2008

CMKX - Who Is Protecting Investors FROM The SEC...??

Impartiality of S.E.C. Is Questioned
(Complete Article)

The New York Times...

By WALT BOGDANICH
Published: October 6, 2008

A federal inquiry has concluded that the Securities and Exchange Commission should consider disciplining its director of enforcement and two supervisors for their role in handling an insider trading investigation that led to the firing of an S.E.C. lawyer for trying to interview an influential Wall Street executive.

Public Comments For Chairman Cox
(Complete Comment)

Chairman Christopher Cox May 19, 2008 Securities & Exchange Commission Washington, DC

There is no discipline with naked shorting and repeat offenders have no fear of the SEC because the chances of a violator being caught and disciplined is negligible. Most of the repeat offenders take the same cavalier attitude as that of a serial killer. Once you have killed, the penalty is no greater for repeat killings. So illegal manipulation of stocks continues daily by repeat offenders with impunity.


Case in point: CMKM Diamonds (a/k/a Casavant Mining, now revoked former stock symbol: CMKX). The SEC has had an ongoing investigation for over 5 years titled:
In the Matter of CMKM Diamonds, Inc., LA-3028. This case goes back to 2002 and involves approximately $100 million in theft of investor funds with nearly ONE TRILLION Shares of stock, a majority of which were illegally issued without pre-requisite restrictions, legal opinions; or legal opinions issued from deceased attorneys and/or were naked shorted in the market with counterfeit shares.

It was not until April 7, 2008 that the SEC has finally taken action in US Dist. Court, Las Vegas, NV regarding this egregious fraud upon the investing public. Most of the stolen funds are gone, leaving investors pennies on the dollar if anything.


The “mastermind” (SEC words not mine) in this fraud, John Edwards was also the “mastermind” of illegally issued shares in BioTech Medics (and dozens more pennystocks). Edwards had numerous accomplices who have yet to be cited by the SEC. The fraud in our case stems back to 2002 and involves scores of millions of dollars in fraud and over 50 million shares that we have been able to verify in an audit of our shareholders.


However, FINRA over a year ago in the CMKX matter sanctioned NevWest Securities Corp (CRD # 46464) of Las Vegas and Sergey Rumyantsev and Anthony Santos $100,000 and K Houser REG SHO- 10B-21 Proposal Comments Page # 1

$75,000 each respectively, for laundering over $58 million of John Edwards and over 20 of his sham shell trusts and companies that were used to perpetrate the alleged fraud and benefit from the naked shorting. NevWest reportedly received over $2.4 million in commissions.


So the alleged manipulators got away with $58 million and the sanctioned stock broker facilitators were slapped on the wrist and got away with nearly $2 million in profits.

Where is the justice in this “discipline”???


Editor's Note - PLEASE Take A Moment To Contact The SEC And Voice Your Complaints Concerning Their Handling Of The Massive Fraud Involving CMKX And Other Companies.

coxc@sec.gov,
chairmanoffice@sec.gov,
tradingandmarkets@sec.gov,
oig@sec.gov,
newyork@sec.gov,
losangeles@sec.gov,
enforcement@sec.gov,
oiea@sec.gov,
publicinfo@sec.gov,
help@sec.gov,
mccoyj@sec.gov,
whitem@sec.gov,
hakalal@sec.gov,
tysonr@sec.gov,
thomsenl@sec.gov,
cmkmdiamonds@sec.gov

Monday, October 6, 2008

CMKX -- Fortress Financial Group, Inc. -- Update on Reverse Merger...

Company Clarifies the Details of the Reverse Merger Under Consideration

NEW YORK, NY, Oct 06, 2008 -- Fortress Financial Group, Inc. (PINKSHEETS: FFGO) confirmed on October 3, 2008 that it is in discussions to acquire a Company which if successful, would constitute a Reverse Merger.

The Company can confirm that a Reverse Split of the Company's stock is not being considered and all speculation that this Company will effect a Reverse Split of its Common Stock, is complete nonsense.
Furthermore, the Company with whom we are in discussions is in the business of Uranium Mining & Exploration.

The Company will state for the last time that the Extraordinary Dividend is unaffected by these discussions and that this Dividend will be paid regardless and as announced. The Company will announce the "Record" and "Pay" dates in respect of this Stock Dividend as and when it is in a position to do so. Stockholders may rest assured that your Company's Management is very anxious to get these Dividends paid as the Company's CEO is resigning as announced and is now committed to join the Board of Directors of a Private Equity Fund on a full time basis; and from November 1, 2008.

Your Company's incumbent Management is of the opinion that given the fact that the Company's Stock Dividend is in the form of shares of a Gold Company; stockholders should consider themselves extremely fortunate given that Gold remains a safe haven in these turbulent markets. Management is not going to comment on the Gold company whatsoever and considers that Gold Company's Management responsible for any statements in respect of their Company, its assets and its future.

Management of your Company can categorically state that all speculation in respect of this Gold Company is pointless until such time as further details are announced. The majority of the speculation surrounding the Gold company is complete nonsense and stockholders are advised to make their decisions as and when details of this Company are made available.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.

Contact:
Financial Insights
Dick Granieri/Gordon Otter
E Mail: Email Contact
Telephone: 1-800-530-3545

Fortress Financial Group, Inc.
Alan Santini
Chief Executive Officer
Email Contact
Tel: (954) 840-6961

Friday, October 3, 2008

CMKX - Bailout Bill Passes - All Is Well...??

Bloomberg.com

U.S. Stocks Slide in Worst Week for S&P 500 Since 2001 Terrorist Attacks (Full Report)

U.S. Stocks Drop as Recession Concern Outweighs Bailout Passage
By Eric Martin

Oct. 3 (Bloomberg) -- U.S. stocks slid, capping the worst week for the Standard & Poor's 500 Index since the 2001 terrorist attacks, on concern the $700 billion bank bailout isn't enough to unlock credit markets and prevent a recession.

Payrolls in U.S. Drop in Sign Economy May Enter Worst Recession Since 1982 (Full Report)

Crisis Hits Main Street as Employers Cut More Jobs
By Shobhana Chandra and Rich Miller

Oct. 3 (Bloomberg) -- U.S. payrolls plunged in September, signaling the economy may be heading for its worst recession in at least a quarter century as the 13-month-old credit crisis on Wall Street finally hits home on Main Street.

Friday, September 26, 2008

CMKX - CMKM Diamonds Inc. New CEO Mark Faulk Speaks Out...

CMKM Diamonds Corporate Update

Corporate Updates

9-25-08
Update on Questionable Brokerage and Clearing Firm Activity

CMKM Diamonds, Inc. has received letters from a broker requesting that larger CMKX certificates (held in the same broker's name) be broken down into several smaller certs. The written request contained the notation "FOR FAILS PHY". The broker confirmed that the request was to cover a fails to deliver in the stock.

In a separate incident, one major brokerage firm requested the transfer of a bulk certificate from another major brokerage firm. This request was dated June 29, 2008, over two and a half years after the Company was delisted and no longer trading.

The Company also has in its possession a letter where a clearing firm discusses the cost effectiveness of obtaining stock so that they could issue certificates to their clients, saying "Given the price of the stock, it may be more reasonable for us to go out and buy the shares to cover the short." This letter is dated almost two years after the Company was delisted and its shares no longer trading.

In a CMKM Diamonds press release dated April 20, 2007, it was confirmed that the Company "halted the transfer of a large bulk certificate to a major brokerage from a third party". The Company is continuing its investigation of this and other questionable brokerage activity.

Mark Faulk,
CEO


CMKM Diamonds Shareholders' Corner

Shareholders' Corner

9-26-08
A quick note to answer a couple of concerns from shareholders. In reference to information sent out by Bud Burrell, Bud was a middleman to put that info into the hands of certain officials in the hope that the CMKX situation will continue to receive the attention it deserves. In light of the national events of the last couple of weeks, it is crucial that our story be heard by the right people. Any official documents were sent directly to the person who requested them, but the information should never have been leaked publicly. Bud nor anyone else not directly involved in investigations has knowledge of any individual's or companies' names that are a focus of our investigations.

It would be beyond detrimental to our investigation to release any detailed information to anyone not directly involved in either researching or investigating potential claims that CMKM might take against those who defrauded the Company and its shareholders. There are two choices here, either release ALL information to shareholders to be publicly reposted on message boards and compromise our legal position, or do what is best for the Company. Given those choices, I will always take the course of action that is best for CMKM Diamonds, Inc., which in turn is ultimately what will best benefit the Company's shareholders.

On a separate note, I am currently in New York, and will be available only on a limited basis for the next few days. I have received numerous phone calls about recent events, and I apologize if I haven't had time to return some calls. Things are very hectic, and the Company is making excellent progress in its efforts, but this is a marathon, not a sprint. Please be patient with us as we concentrate our efforts on the task at hand.

The CEO Chat is still scheduled for 9-10 AM CST on Friday, October 3, 2008. Please send your comments and questions to questions@cmkmdiamondsinc.com and I will address them as best I can at that time.

Mark Faulk,
CEO


Editor's Note - I requested more information from the SEC about brokers being forced to cover their old positions, especially on a revoked stock like CMKX. I will post any additional information I get from the SEC.

Thursday, September 25, 2008

CMKX - Petition Against Naked Shorting...!!

PLEASE Go To This Site And SIGN The PETITION Against Naked Short Selling...!!

Main Street Americans

STOP NAKED SHORT SELLING NOW!
To: Our Elected Leaders
From: Patrick Byrne & Concerned Americans

America’s capital markets used to be the envy of the world. Now they are in turmoil — turmoil caused by manipulative and abusive naked short sellers! It is time for it to stop — and now.

You are charged with overseeing and policing our capital markets. As long as naked short selling continues, our markets will suffer and you are not doing your job. That is shameful. Start doing your job — and now.

Half-measures don’t work. We are in a deep enough financial crisis that you can’t waste any more time. Do the following — and do it now:

1. Put in place a market-wide mandatory pre-borrow requirement (like the SEC did in the 30-day July 15 emergency order that protected 19 financial institutions).

2. Create the obligation that if a naked short seller fails to deliver a share, the purchaser must force a mandatory buy-in (this is the rule in Canada where it works).

3. Track trades cradle-to-grave (rather than net blocks of trades against each other), so that it is obvious who the naked short sellers are and the total amounts they are stealing.

4. Provide regular and timely disclosure by naked short sellers of when and how many shares they are failing to deliver.

5. Then enforce these rules (which should include significant monetary penalties and jail time).

Our capital markets are too important to let greedy manipulators ruin them. Get these laws in place, police them, and help restore the economy you are charged with protecting.

Sincerely,

Patrick Byrne
& Concerned Americans

After you have added your name to this petition an e-mail will be sent to the given address to confirm your signature. Please make sure that your e-mail address is correct or you will not receive this e-mail and your name will not be counted.

Wednesday, September 24, 2008

CMKX ---- New Financial Bailout Plan ---- CMKX Style...!!

*** ATTENTION ***

President Bush... Secretary Paulson...
Chairman Bernanke... Chairman Cox


* Please Just Pay 40,000 - 60,000 CMKX Shareholders NOW...!! *

40,000 - 60,000 Mortgages Paid Off...!!

40,000 - 60,000 New Homes Purchased With CASH...!!

40,000 - 60,000 Vacation Homes Purchased With CASH...!!

50,000 - 100,000 Car Loans Paid Off...!!

50,000 - 100,000 New Cars Purchased With CASH...!!

80,000 - 120,000 College Loans And Tuition Paid Off...!!

40,000 - 60,000 Families Paying More Taxes...!!

40,000 - 60,000 Families Spending A TON OF MONEY...!!

So PLEASE Put An End To This Financial Turmoil...

* Please Just Pay 40,000 - 60,000 CMKX Shareholders NOW...!! *

Sunday, September 21, 2008

OT - LAST GAME AT YANKEE STADIUM


And now, the end is near;
And so we face the final curtain.




Friday, September 19, 2008

CMKX - This Just In... All Is Well...

What, Me Worry...??

Bloomberg.com

Breaking News

•Stocks Jump in U.S., Worldwide on Bank-Bailout Measures, Short-Sale Curbs
•Paulson, Bernanke Seek to Rid Firms of Toxic Assets, Expanding U.S. Powers

•Money-Market Mutual Funds Will Be Insured by U.S. in $50 Billion Backstop

•Morgan Stanley Said to Pursue Merger Talks After U.S. Rescue, Stock Rally

•Dollar Rises Most Since April Against Yen on U.S. Steps to Underpin Banks

•Fed Historian Meltzer Calls Paulson Plan `Social Democracy at Its Worst'

•Short Sellers Come Under Fire in U.S., U.K. After Collapse of Lehman, AIG

•Bush Says Rescue Plan Will Ease Pressure on Banks, More Action Is Needed

•Frank Accuses McCain of Using SEC's Cox as `Scapegoat' for Market Turmoil

Editor's Note - This Is All Very Exciting...
What Was The Question...??
Oh Yeah, Where's Our MONEY...??
PLEASE Just Pay Us NOW...!!

Thursday, September 18, 2008

CMKX - Attention: SEC Commissioners...

SEC Issues New Rules to Protect Investors Against Naked Short Selling Abuses

Washington, D.C., Sept. 17, 2008 — The Securities and Exchange Commission today took several coordinated actions to strengthen investor protections against “naked” short selling.

“These several actions today make it crystal clear that the SEC has zero tolerance for abusive naked short selling,” said SEC Chairman Christopher Cox.

“The Enforcement Division, the Office of Compliance Inspections and Examinations, and the Division of Trading and Markets will now have these weapons in their arsenal in their continuing battle to stop unlawful manipulation.”

For this reason, naked shorting can allow manipulators to force prices down far lower than would be possible in legitimate short-selling conditions.

Now that the SEC seems to recognize, and promises to do something about Naked Shorting, what about the shareholders of all the companies that were shorted into oblivion, using this illegal, abusive, manipulative practice...??

A practice which was IGNORED for years, and whose existence was DENIED by the regulatory agencies responsible for protecting shareholders.

NOTE: Please send a copy of the Press Release to Annette Nazareth...!!

----------------------------------------------------------------------------------
This Just In...

"Goldman Sachs Group Inc. and Morgan Stanley, the remaining independent securities firms on Wall Street, plunged by the most ever, prompting Morgan Stanley Chief Executive Officer John Mack to say short sellers are using abusive tactics to attack companies."

Editors Note - I think they just want their stocks to go up...!!

-----------------------------------------------------------------------------------

SEC Contact Info...

coxc@sec.gov,
chairmanoffice@sec.gov,
tradingandmarkets@sec.gov,
oig@sec.gov,
newyork@sec.gov,
losangeles@sec.gov,
enforcement@sec.gov,
oiea@sec.gov,
publicinfo@sec.gov,
help@sec.gov,
mccoyj@sec.gov,
whitem@sec.gov,
hakalal@sec.gov,
tysonr@sec.gov,
thomsenl@sec.gov

Wednesday, September 17, 2008

CMKX - SEC Chairman - Zero Tolerance For Naked Shorting...

SEC Issues New Rules to Protect Investors Against Naked Short Selling Abuses

FOR IMMEDIATE RELEASE
2008-204

Washington, D.C., Sept. 17, 2008 — The Securities and Exchange Commission today took several coordinated actions to strengthen investor protections against “naked” short selling. The Commission’s actions will apply to the securities of all public companies, including all companies in the financial sector. The actions are effective at 12:01 a.m. ET on Thursday, Sept. 18, 2008.

“These several actions today make it crystal clear that the SEC has zero tolerance for abusive naked short selling,” said SEC Chairman Christopher Cox. “The Enforcement Division, the Office of Compliance Inspections and Examinations, and the Division of Trading and Markets will now have these weapons in their arsenal in their continuing battle to stop unlawful manipulation.”

In an ordinary short sale, the short seller borrows a stock and sells it, with the understanding that the loan must be repaid by buying the stock in the market (hopefully at a lower price). But in an abusive naked short transaction, the seller doesn't actually borrow the stock, and fails to deliver it to the buyer. For this reason, naked shorting can allow manipulators to force prices down far lower than would be possible in legitimate short-selling conditions.

Today’s Commission actions, which are the result of formal rulemaking under the Administrative Procedure Act, go beyond its previously issued emergency order, which was limited to the securities of financial firms with access to the Federal Reserve’s Primary Dealer Credit Facility. Because the agency's exercise of its emergency authority is limited to 30 days, the previous order under Section 12(k)(2) of the Securities Exchange Act of 1934 expired on Aug. 12, 2008.

The Commission’s actions were as follows:

Hard T+3 Close-Out Requirement; Penalties for Violation Include Prohibition of Further Short Sales, Mandatory Pre-Borrow

The Commission adopted, on an interim final basis, a new rule requiring that short sellers and their broker-dealers deliver securities by the close of business on the settlement date (three days after the sale transaction date, or T+3) and imposing penalties for failure to do so.

If a short sale violates this close out requirement, then any broker-dealer acting on the short seller’s behalf will be prohibited from further short sales in the same security unless the shares are not only located but also pre-borrowed. The prohibition on the broker-dealer’s activity applies not only to short sales for the particular naked short seller, but to all short sales for any customer.

Although the rule will be effective immediately, the Commission is seeking comment during a period of 30 days on all aspects of the rule. The Commission expects to follow further rulemaking procedures at the expiration of the comment period.

Exception for Market Makers from Short Selling Close-Out Provisions in Reg SHO Repealed

The Commission approved a final rule to eliminate the options market maker exception from the close-out requirement of Rule 203(b)(3) in Regulation SHO. This rule change also becomes effective five days after publication in the Federal Register.

As a result, options market makers will be treated in the same way as all other market participants, and required to abide by the hard T+3 closeout requirements that effectively ban naked short selling.

Rule 10b-21 Short Selling Anti-Fraud Rule

The Commission adopted Rule 10b-21, which expressly targets fraudulent short selling transactions. The new rule covers short sellers who deceive broker-dealers or any other market participants. Specifically, the new rule makes clear that those who lie about their intention or ability to deliver securities in time for settlement are violating the law when they fail to deliver. This new rule is effective immediately.

# # #

http://www.sec.gov/news/press/2008/2008-204.htm


Bloomberg.com

SEC Stiffens Rules Limiting Short-Selling Amid Market Turmoil

By Jesse Westbrook and Edgar Ortega

Sept. 17 (Bloomberg) -- The U.S. Securities and Exchange Commission stiffened rules against manipulative short-selling after a market rout pushed American International Group Inc. to the brink of collapse and triggered Lehman Brothers Holdings Inc.'s bankruptcy.

The SEC adopted two regulations today forcing traders and brokers to close out short sales, amid concern investors are driving down share prices by flooding markets with sell orders. A third rule makes it a securities fraud when short sellers deceive brokers about delivering borrowed shares to buyers.

``These several actions today make it crystal clear that the SEC has zero tolerance for abusive'' short-selling, SEC Chairman Christopher Cox said in a statement.

Lawmakers and regulators are questioning whether short sellers have contributed to a crisis by spreading false information and using abusive tactics to attack companies. Hedge funds and other investors argue that poor business strategies are to blame, not short sellers.

In traditional short sales, traders borrow shares that they then sell. If the price drops, they profit by buying back the stock, repaying the loan and pocketing the difference.

The SEC rules approved today target so-called naked short- selling, in which traders never borrow shares from their brokers. The agency is concerned that such a strategy can free investors to manipulate prices by placing unlimited sell orders.

One SEC regulation eliminates an exemption for options market-makers to deliver shares of companies placed on so-called threshold lists. Companies are listed when they have a high number of borrowed shares that haven't been delivered.

Market-Makers

The rule will make it harder for options market-makers to hedge trades when they sell put contracts, said Stephen J. Nelson, a securities lawyer in White Plains, New York.

``If you want to short the stock you're going to have to deliver it, and the only way to really do that is to pre- borrow,'' Nelson said. `Professional traders are not in the business of taking that kind of risk. They would be very reluctant to face the five-day window because buy-in can be very expensive.''

The SEC also approved a rule drafted in March that would make it a fraud for investors to lie to their broker about locating shares to sell short. Currently, brokers are able to rely on their customers' assurance that they had located shares that could be used to cover a short sale.

The SEC rules don't reinstitute an ``emergency'' order that expired last month, which placed restrictions on short-selling in Lehman, Fannie Mae, Freddie Mac and 16 securities firms. The order required investors betting on a decline in stock prices to arrange to borrow the shares before completing a sale.

The SEC also declined to bring back the so-called uptick rule, which allowed short sales only if a preceding trade boosted a company's stock price. Lawmakers such as U.S. Senator Charles Schumer, a New York Democrat, have questioned the agency's June 2007 decision to remove the rule.

To contact the reporter on this story: Jesse Westbrook in Washington at jwestbrook1@bloomberg.net; Edgar Ortega in New York at ebarrales@bloomberg.net.

Last Updated: September 17, 2008 09:52 EDT

CMKX - Cramer... Line Of Defense...

ATTENTION SEC...

CNBC Video - Mad Money host Jim Cramer shares his outrage.