AndyMack

142 posts

AndyMack

AndyMack

@AndyMac2222

Katılım Ekim 2021
738 Takip Edilen78 Takipçiler
Montreal Expos
Montreal Expos@Montreal_Expos·
If you think the White Sox Pope Hat is cool, just wait until we do Angine de Poitrine Bobblehead Night
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George Palikaras
George Palikaras@palikaras·
@FINRA 's MMAT recent BK response/filling (March 27th) states an estimated 2.5 terabyte of trading data for #MMAT / #MMTLP. They called this BURDENSOME. At first glance perhaps this may look like a big, scary dataset... But lets take a closer look... I found an enlightening video from an @AWS 2023 event and sharing below, "Exhibit A", in FINRA's own words (that's the fun part): youtube.com/watch?v=NUnqEW… The main topic of this video is FINRA CAT's (Consolidated Audit Trail) journey in managing massive data volume and complexity, specifically how they transitioned from traditional Big Data to a massive exabyte-scale architecture on AWS to ensure market integrity and regulatory compliance (0:01-3:58). The speakers in this presentation are: - Leah Crawford: Principal Customer Solutions Manager with AWS (0:05) - Scott Donaldson: Chief Technology Officer of FINRA CAT (1:26) and - Steven Diamond: Senior Director of FINRA CAT engineering and operations (1:33) The video highlights several ways FINRA CAT ensures data integrity: 1. Semantic Validation: The system runs semantic validations as data is received to ensure the accuracy and quality of the submission (11:30 - 11:35). 2. Feedback Mechanism: CAT identifies errors and incongruities in the data and reports them back to the firms, allowing them to correct and resubmit data (11:35 - 11:45). 3. Source of Record: Amazon S3 is used as the ONLY source of truth for data storage, ensuring security and resilience (12:03 - 12:12). 4. Linkage Processing: The system processes data to piece together the ENTIRE lifecycle of an order, which helps identify missing records or issues across. According to the video, FINRA CAT is responsible for building a single source of TRUTH for all U.S. equity and options trading data. This data is made available to the SEC, FINRA, and other regulatory organizations to identify fraudulent or manipulative activity (38:07 - 39:29). According to the video, FINRA CAT handles LATE trade reports by allowing firms to submit them at ANY point over the reporting horizon, which can span multiple YEARS (9:22 - 9:28). The system is designed to manage this data skew, as they have received trade reports for over 800 different trade dates on a SINGLE day (9:28 - 9:35). QUESTIONS: 1. The math basically seems to suggest that FINRA can deliver 2.5 terabyte of CAT data by LUNCH today... that is about 2.5 to 2.7hrs of work done by a computer. Do you think this is BURDENSOME? 2. why would does FINRA allow trade reports to be filed late? 3. What happens when one of their members files their report late for e.g. by 1 month or by 10 years (yes actual cases)? Are the two late cases treated the same? 4. If a firm files late (or hasn't filed yet) how is compliance enforced? What are the current stats for missing reports, and why do firms keep ignoring their duty to file. 5. You discuss in the video how the FINRA CAT system was designed to manage and receive trade reports for over "800 different trade dates" on a SINGLE day. Do you still believe that the Trustee's request for 161 trading dates for just a couple of stock symbols is BURDENSOME? #MarketIntegrity
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Jimmy Page
Jimmy Page@JimmyPage·
As a footnote to Physical Graffiti, I thought you might like to hear the original home demo, recorded in my studio at Plumpton Place of a piece of music that was going to surface as 10 Years Gone. I presented this rough mix to the band at Headley Grange in order to do this for real. Robert Plant came up with some lyrics for my music that were extraordinary and then we arrive at the song 10 Years Gone. youtu.be/2o-SBDC8v0g
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George Palikaras
George Palikaras@palikaras·
Check out these docs @annvandersteel There’s something deeply revealing (and disturbing) about a regulator arguing three things at the SAME time: 1) “Producing the data would be too burdensome” 2) “Even if we produced it, it wouldn’t identify anyone” 3) “We need to seal the identity of the person saying all this” So let’s pause. Dear @FINRA: You oversee market integrity. You investigate trading activity. You halt securities. You call this oversight⁉️ To everyone: How can a market be regulated if the regulator cannot, AND will not, identify the participants behind the activity it claims to oversee? That is not a discovery dispute anymore. The system is describing its own limits under oath. What this implies, structurally: 1. Surveillance exists WITHOUT full traceability! 2. Data exists WITHOUT actor-level resolution!! 3. Responsibility is distributed across layers, but accountability is NOT reconstructible from within ANY single layer!!! 4. Critical datasets (CAT, clearing, prime brokerage) are functionally SILOED!!!! Strategic Interpretation in my humble opinion: If a regulator cannot, or will not, identify participants behind market activity, then either: 1. The system is NOT designed to resolve attribution end-to-end, OR 2. The relevant data sits OUTSIDE the regulator’s accessible perimeter and control (which begs the question who has real access and control), OR 3. The integration layer between surveillance and accountability is INTENTIONALLY incomplete All three lead to the same conclusion: FINRA has a structural blind spot, not a one-off limitation. The system looks completely corrupt.
KKep@kimkep4796

⚖️ MMTLP / MMAT / TRCH / NBH Meta Materials Inc. Bankruptcy U.S. Bankruptcy Court – District of Nevada Case No. 24-50792-gs 📄 Key Filings by FINRA (3/27/2026) 👈 •FINRA Supplemental Brief on Undue Burden •Declaration of David S. Norris (Undue Burden) •FINRA General Counsel Declaration •Motion to Seal + Proposed Order (NOTE: The Trustee’s response is due 4/3/2026.) ⸻ 🧠 WHAT THIS IS (Layman’s Terms) ⚠️ Not Legal Advice The trustee wants FINRA documents to investigate potential claims. FINRA says: 👉 “It’s too big, too expensive, and mostly protected—so it should be limited or blocked.” ⸻ 🔍 FINRA’S CORE ARGUMENTS 🟥 Burden •~5M messages / 2.56 TB data •~$450K–$550K+ to review 👉 “This is excessive for a nonparty.” ⸻ 🟥 Privilege •Attorney-client •Work product •Investigative files 👉 “Most of what you want can’t be produced anyway.” ⸻ 🟥 Scope •Trustee narrowed other subpoenas •FINRA still asked for 4 years + communications 👉 “We’re being asked for far more than others.” ⸻ 🟥 Justification •Trading halt tied to settlement/clearance concerns ⸻ 🟥 Sealing •Safety concerns + threats used to justify sealing (See comments to this post for these filings.) ⸻ ⚖️ WHAT THE JUDGE DECIDES 👉 Is this subpoena: •Reasonable and relevant •OR overly burdensome and overbroad Courts balance: •Need for info •Burden/cost •Privilege limits ⸻ 🚨 KEY TAKEAWAYS •This is a scope fight—not a full stop •FINRA’s burden argument will: 👉 Limit scope, not eliminate discovery •Privilege will: 👉 Shape production, not block it entirely ⸻ 🎤 Bottom Line 👉 FINRA will likely have to produce something meaningful—but not everything requested, and not all at once. Also note that the Judge is well aware of the statute of limitations. dropbox.com/scl/fi/9e6a2tw… dropbox.com/scl/fi/a9bjdxt…

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George Palikaras
George Palikaras@palikaras·
In Dec 2022, FINRA intervened in a market where settlement integrity was unresolved. @annvandersteel Instead of enforcing RECONCILIATION for stockholders (the ONLY lawful mechanism available under current securities law), they unilaterally (and without notice) TERMINATED price discovery, allowed the corporate action to proceed, and converted unresolved market positions into private contractual disputes. They did this knowing full well, that FINRA would simply then be able to hide behind its infamous SRO "ABSOLUT" immunity. However, they made a strategic mistake. As evident in the attached FINRA letter to NBH, dated May 2023, the subsequent FAQ and FOIAs, they managed to selectively characterize itself as a limited PRIVATE entity avoiding responsibility, while simultaneously discuss how they exercise government-delegated authority when they take market-wide actions, such as the Dec 2022 U3 trading halt of #MMTLP. The SEC or Congress must now chose for them: 1. either turn FINRA into a full government entity, OR 2. remove their immunity. You only need to look at how Korea, Saudi Arabia, Switzerland etc have recently regulated to secure their markets, and taken the fight to these dark pool synthetic/abusive market pundits and protect their investor communities. Post-hoc explanations cannot justify action. The two MMTLP FAQs released by FINRA were abominations, and contradictory/confusing. The real FAQ regulators won’t answer: If the system had -CAT data -Blue sheets -Full trade visibility, and -FINRA ordered blue sheets for MMAT and MMTLP prior to the spin off... Then why not: 1. Reconcile shares? 2. Force buy-ins? 3. Allow a close-only exit? Source: dropbox.com/scl/fi/nb59dhb…
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George Palikaras
George Palikaras@palikaras·
Gensler puts Hollywood to shame with this performance. Especially the part where he says he doesn’t talk to the White House regarding any SEC investigations. How about Congress Mr Gensler? Do you remember ever speaking to them about any SEC cases? @JDVance’s team may want to review the MMTLP FOIA letters. Especially those with Gensler’s personal cell phone text messages… and then investigate HOW these were still available when, during the same period, the @SECGov’s own Inspector General (OIG) stated that nearly 12 months of Gary Gensler’s text messages on his SEC‑issued phone (roughly October 2022–September 2023) were in fact permanently LOST (technically deleted ). The OIG attributes this to “avoidable” IT errors… the SEC IT implemented an automated “enterprise wipe” on Gensler’s government phone, then did a factory reset, which “deleted” all stored text messages and operating system logs. OIG’s Report 587 (published September 2025) explicitly notes that many of the missing texts qualified as FEDERAL RECORDS and that their loss could affect responses to FOIA requests and other record‑keeping obligations… Media and policy coverage confirms that the wiped period OVERLAPS with the time of several major market controversies (including crypto enforcement and MMTLP‑era activity generally), which is why the incident is drawing attention from litigants, and FOIA requesters, and has raised serious questions about SEC record‑keeping during the MMTLP period… REMINDER: In FOIA 24‑03532 (big thanks to requester @NicholasRaia26 the SEC produced at least 65 pages of Gary Gensler text messages responsive to an MMTLP‑keyword request, including a January 27, 2023 text referencing @FINRA’s Stephanie Dumont, even though the SEC’s Inspector General later reported that nearly a year of Gensler’s texts from this same period were permanently lost due to ‘‘avoidable errors’ in the handling of Gensler’s device… so which is it? Humble suggestion: instead of the SEC shamelessly “investigating” only the MMTLP COMMUNITY members, perhaps Congress, and the White House should start looking within the hen house for potential wolves, that may have been operating amongst you. All they need to ask is these 3 simple questions: 1. HOW (the f@<%) did these messages survive under FOIA? 2. WHERE were they stored/is there another copy?? and 3. WHY were other texts claimed to be irretrievable??? FOIA 24‑03532 alone proves there is a smoking gun. #DJT #CoinBase #MMTLP
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Amy
Amy@20th_Centurygal·
Your first concert… who did you see?
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George Palikaras
George Palikaras@palikaras·
1/ Dear @SECPaulSAtkins and Commissioner @HesterPeirce @SECGov Regarding your posts earlier today I think there are important questions arising especially in context with a related FSB report. I will be discussing below the Operational Classification vs. Legal Classification of #MMTLP, specifically: The divergence between LEGAL classification and OPERATIONAL handling of MMTLP, and how this mismatch may have contributed to: 1. supervisory fragmentation, 2. regulatory blind spots, and 3. OTC’s ultimate settlement failure. Key Findings: While MMTLP was publicly characterized as an OTC equity preferred security, evidence indicates that at least one major broker-dealer (@Fidelity) processed buy-side activity through a fixed income desk, suggesting a MATERIAL divergence between legal classification and operational treatment. This divergence is NOT merely administrative, it has direct implications for: 1. supervisory responsibility 2. compliance rule application 3. surveillance coverage and 4. settlement risk management MMTLP wasn’t just an “equity” security that went wrong, it became a cross-system instrument processed through equity, derivatives, and “fixed-income” infrastructure simultaneously, and that fragmentation created a supervisory and settlement blind spot that no single regulator or broker fully controlled, in my opinion.
George Palikaras@palikaras

The SEC seems to be saying, in effect, “15c2-11 is an OTC equity rule, let’s stop pretending it is a general quotation rule for every security” BUT… What I find even more interesting is Commissioner @HesterPeirce longer statement 2 hrs ago and this part: “They highlighted that the 2020 rule amendments relied entirely on OTC equity data and did not even mention the term “fixed income” once. They noted that they were unaware of Rule 15c2-11 ever being applied to fixed income securities. And they warned that the application of the rule would gravely harm the fixed income market and investors, with no discernable reduction in fraud” The keyword is “fixed income” #MMTLP There is a more strategic interpretation in my opinion. More to follow, thank you Suzy! sec.gov/newsroom/speec…

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KKep
KKep@kimkep4796·
🚨 META Bankruptcy Hearing Update – Motions to Quash (Feb. 20, 2026) (Longer description posted as the first comment to this post.) The court heard arguments from NASDAQ, Citadel, Virtu, Anson Funds, and the trustee over subpoenas seeking trading data tied to alleged manipulation of META/MMTLP/Torchlight shares. Judge signaled focus on one key issue: Did Meta sell shares during the alleged manipulation window — and was the estate harmed? He emphasized this is not a motion to dismiss, but Rule 2004 discovery still requires a clear estate interest. 📌 The judge is essentially asking trustee’s counsel to provide: • Exact 160/161-day date ranges (by ticker/category) • Clear evidence of when Meta sold shares in that window • How Torchlight/MMTLP fit into the timeframe and estate theory • A clearer articulation of the estate-owned claim supporting Rule 2004 discovery Trustee indicated they’ll provide the narrowed timeframes and supporting details shortly. (They have one week to provide.) Next step: Opposing counsel will respond once those dates and theories are clarified, and the court will decide whether discovery proceeds (likely in a narrowed scope). ⚠️ Not legal advice — hearing summary.
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Nicki Sanders
Nicki Sanders@nickisanders·
This is one of those announcements that quietly says a lot about where tokenization is actually going. Bed Bath & Beyond, the largest shareholder of @tZERO, agreed to acquire Tokens.com. Not to chase hype, but to build a compliant, end-to-end gateway for real-world asset finance and tokenized liquidity. Why this matters: For years, tokenization promised better access to real assets, but struggled to escape regulatory gray zones and fragmented infrastructure. This move flips that model. Instead of “blockchain first, compliance later,” it anchors tokenized markets directly inside regulated capital markets rails. Tokens.com will plug into tZERO’s custody, trading, and regulatory infrastructure, creating a single stack that can support issuance, liquidity, and investor protections at scale. Add partners like Figure for mortgages and asset-backed lending, and suddenly tokenization connects to real financial activity people already understand and use. The story here isn’t just an acquisition. It’s a signal: the next chapter of tokenization is being built on institutions, regulation, and real assets, not around them. That’s how this space grows up. Congrats to the team! @Alan_Konevsky @marcuslemonis
tZERO@tZERO

Today, @BedBathBeyond@tZERO’s largest shareholder – announced its agreement to acquire Tokens.com, a platform focused on real-world asset finance and tokenized liquidity. Tokens.com will leverage tZERO’s regulatory and operational infrastructure and multi-asset platform services to support capital markets, tokenization, custody, and trading, forming an integrated stack for compliant liquidity. The decision reflects a clear focus on building tokenized markets on established regulatory and capital markets foundations. The platform will also leverage partners including @Figure to access mortgages, home equity lines of credit, renovation loans, home makeover loans, and other asset-backed lending and capital solutions. tZERO provides the institutional-grade infrastructure that enables platforms to scale responsibly while maintaining investor protections and regulatory clarity. 🔗investors.beyond.com/news-events/pr…

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AndyMack
AndyMack@AndyMac2222·
@greg16676935420 If I could rehypothicate my follow to you to help you with your count, I'd do it. I believe I've been following you for over 5 1/2 years now. I look forward to the big reveal someday 😸
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greg
greg@greg16676935420·
When I created my account exactly 5 years ago today I told myself there’s no way I hit 1.5 million followers in 5 years and I was right
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Amy
Amy@20th_Centurygal·
Name a song that mentions the word angel, in the title or lyrics...😇🎶
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TradingSecrets
TradingSecrets@TradingSecrets7·
$MMTLP After the PRNewswire coverage on the SEC Press Conference, Yahoo Finance have now extended this coverage, putting the story into the mainstream media and connecting to prominent journalists, other media outlets, political commentators and more importantly to government institutions who can no longer ignore this issue. finance.yahoo.com/news/mmtlp-inv…
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Ann Vandersteel™️
Ann Vandersteel™️@annvandersteel·
WE ARE A GO FOR PRESS CONFERENCE JAN 12th 10AM To the #mmtlp #GME #AMC #BBB and #TMTG communites that have been harmed by government agency collusion with Wall Street, we are a GO for our press conference. SHARE FAR AND WIDE Location: U.S. Securities and Exchange Commission - Headquarters 100 F St NE, Washington, DC 20549 cc: @busybrands @zing_leo12693 @Xenon61098 @Stokum @BasileEsq @bleedblue18 @Notarighty12 @JunkSavvy @giftsonglass
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Eric Alper 🎧
Eric Alper 🎧@ThatEricAlper·
It's 1985 and you just got this for the holidays. What's the first cassette you put in?
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Kurtis
Kurtis@bleedblue18·
$MMTLP Financial Information Forum (FIF) and Securities and Exchange Commission FOIA. Pg 1 - Howard Meyerson, FIF Managing Director, emails Erik Gerding, SEC Director of Division of Corporate Finance, David Saltiel, SEC Director of Trading & Markets, and Sai Rao, General Counsel for Division of Trading & Markets.
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