And let's start the journey the length... together.
Do not stick together,
but on a different path...
towards the same goal.
The goal for < br /> build structure...
world peace and justice,
where all can stand equally with equal dignity.
First -tama,
our market is open to China.
This agreement will open the Chinese market for us.
I call our relationship with China...
very positive... and complex.
The free market is the greatest power...
for growth economy in human history.
I will make a big agreement...
and many good agreements for the American people.
Believe me!
What is capitalism?
What is an system economy?
Or is it an tool that we can use...
to make a profit more for yourself...
and take advantage from others?
I think, basically,
it benefits them who works hard,
but it also benefits those who...
want to... take advantage of from others.
There are no good people in this story....
including me.
- Yes, yes, that's good. - All right...
What is the first memory from your childhood?
- That's a difficult question. - Really?
I... didn't expect it.
I don't remember 's first memory from my childhood.
I imagined when was still two years old I eradicated...
fraud somewhere.
This is Dan David.
The first time I met him, we were drinking...
at TGI Fridays at Penn Station,
and he told me the story of which is almost untrustworthy.
Before the problem subsided...
in the 2008 economic crisis,
>
Wall Street has found a new way...
packing garbage into gold.
They planned very big cheats...
to all corners of the world.
But this time, the lie that became the basis...
the evasion was 100 percent legal.
Part of Dan 's story starts here,
it's far from Wall Street.
The small investment effort that he runs with his partner, Maj,
has collapsed because of the stock exchange.
Hour 3. What's wrong?
People who have investment management funds in 2008...
close their funds and start new funding.
- Chris, have something? - Complete...
I'm working on. I just want...
We immediately decide won't do it.
We will get people get the funds back.
They need great achievements, quickly.
But because the western world...
at the end of the depression again,
the prospects are bleak.
Not without hope everywhere too, actually.
People who already knew directed Dan to China.
That was the market which is very large.
The only market where people really...
sure will go up, that is China.
That will be the biggest economy in the world.
Let's invest there now.
It surprised me because was completely different...
with what I think, will soar.
There are certain cities, once you visit,
and a year later You visit again, and suddenly...
has stood a shopping center which didn't exist before.
Very dynamic.
Gold fever.
There are hardly any companies based in China...
that you invested in 2009 will make you lose.
For Americans pay attention to this,
you will think, "Gosh,
" China really is a golden land...
rapid economic growth. "</ P>
I really think , "Gosh, you know,
American domination has ended now.
It's time."
Everyone wants < br /> take part in China.
There is only one problem,
foreigners like Dan can't invest directly...
at the Chinese market.
That's when a small bank from California,
Roth Capital, appeared.
Roth found an unknown gap ...
big banks, bringing small Chinese companies...
and register directly on the United States Stock Exchange.
Now And others and can participate...
in the economic miracle of China,
and young sellers from the bank have the opportunity...
for great success with the right approach.
Hey, Jed, how are you today? </ P>
Good, what are you getting? </ P>
Yes, we're running a new company. </ P>
Will you hear the transaction?
Two days passed. Five days passed.
Are you interested in it?
This is what we feel that the capacity of the company can run...
after this acquisition.
This is the security that is fully registered.
What do you want do?
If they are interested,
they will return to you.
Yes. Yes. </ P>
Yes, I'm interested. </ P>
It's worth 2 million dollars. </ P>
Register me there. </ P>
Okay, good.
And so it is.
I tried to be in the plot.
Imagine the flow of the river.
21 million dollars? < br /> That's a pretty good payment.
- So just say... - I'm worried, actually.
I'm afraid that number isn't from China. </ P>
I never asked. </ P>
Nobody asked it. </ P>
Roth is an investment boutique bank...
level two, or three from California.
Others call it as a dormitory...
Roth Capital will be behind small companies...
and encourage him to enter the exchange.
They really advanced in 2010, 2011.
Roth was famous for transactions with China...
at that time.
We went to some Roth conferences.
That's fun.
Roth Capital Partners has held various conferences...
>
for years in Orange County, California.
This will be the best conference in America.
Companies that < /> you've never heard before...
offers advantages to the community.
And their business model is simplicity itself.
They will hold for 3 days...
100, 150 companies and their PET will say,
We think we will benefit 75 percent next year. "
China in a few years has changed...
from interesting be important.
And then change to entertainment shows.
Snoop Dogg, Billy Idol, the dancers,
ice sculpture, Trojan-themed nights, buses,
trains, planes... then baijiu,
that looks like motor lubricants > canned packaging.
You drink and keep on drinking.
You're ganbei, you toast to people,
then they toast to the others,
and goes on and on.
Chinese people want to see...
what kind of person you are,
and some of them feel <br The more drunk you are, the more visible your personal personality is.
semakin terlihatlah kepribadian aslimu.
Hosts on...
these conferences sometimes are...
bank chiefs who are happy stage -diving , Byron Roth.
♪ I want to rock and roll All night ♪
Bring him!
♪ And party every day, I want to rock and roll ♪
You know, he is a man who started...
a commodity business like that when I was 16 years old.
His father owned a farm business,
and they would buy cows at an auction and such.
I mean, he is not a simple man.
We only do something different.
And that's the sort of thing we...
as investment bank firm.
For Byron Roth and Matt and Dan,
it's time to party.
Between 2006 and 2011, Roth held more than a dozen...
conferences and generated trillions of for Chinese companies.
Byron , come here. Hug me.
Whoo!
Narrator: Roth isn't the only bank...
who receives money at the Chinese explosion.
In New York, small operators...
named Rodman & Renshaw held a investment conference...
in a different style,
centers on the power of political stars...
its leader, General Wesley Clark.
In the Balkans, he helps /> negotiation of peace...
between sworn enemies...
and lead multi-national forces...
stop the terror series.
Wes Clark's life is like an American story,
but he can...
become a great American president.
First I want you to tell who you really are,
and tell a little your background. </ p >
Yes, I'm retired. General Wes Clark.
He graduated from West Point in 1966.
Studied at Oxford, served in Vietnam, returned home on a stretcher.
Appointed as Commander NATO's Supreme Ally.
I joined the presidential campaign in 2003, 2004.
Entered in investment banking.
Rodman & Renshaw had a problem in the past.
After years of experiencing chaos in management,
they declared bankrupt in the late 90s.
But with the trust of Clark General...
as a public face, they got up... .
to be a respected bank,
hold parties and sell Chinese stocks.
They will usually invite the presidents,
the former presidents, Colin Powell,
Diana Ross, Henry Kissinger. </ P>
For an hour or two, bring Henry Kissinger...
or George Bush or Wesley Clark to speak...
no, oh, no, it's like coming to...
the sacred place of knowledge, when, you know,
Kissinger is 90 years old, talking.
You can see what is really.
They rent names for an hour or two.
These people all work for payment.
That's how they are making money.
When people are excited to speak,
adds their strength.
For 6 years General Clark became chairman,
Rodman & Renshaw brought more than 40 companies from China...
to the United States market with the amount of value...
more than 31 billion dollars.
While Rodman & Roth get paid...
because bringing the Chinese companies to the United States,
the actual advantage came when...
these companies were registered at main stock exchanges.
Their analysts will recommend risky stocks...
as a good investment, and the sellers...
like Matt, will push it into their investment network.
When those stocks rise quite high,
banks and the insiders can withdraw the funds,
letting others survive at a cost of luck.
The point is, registering the company...
on the normal stock exchange requires audits...
and public inspection,
but banks find ways avoid them.
They use a hidden process which called the reverse merger.
That is a dollar denomination. It sells into,
New York Stock Exchange, NASDAQ.
Normally it is shell company...
which is a public stock...
that is no longer operating.
You can go to Nevada.
There's a lot like that there,
the company was originally a mining company or whatever,
and they were like holding on just there, waiting,
You know, looking for the right partner...
who wants to merge with them.
So you need a shell company.
Here's how it works < br>> reverse merger .
Chinese companies find a way...
enter the American exchanges with how to merge with...
American shell companies who are not operating...
but legally registered...
in the stock exchanges.
The Chinese company then took over...
The shell company was on the exchange.
Presto! You made it in. </ P>
You are a stock that traded in the United States,
and you can take part. </ P>
And no one is suspicious.
Between 2006 and 2012,
more than 400 Chinese companies are listed on the United States exchanges.
80 percent are reverse mergers.
Our exchanges monitor them .
Our banks supervise these companies.
You don't need to worry about it...
because they exist on the United States exchanges.
Oh, you're in Hong Kong?
It's at number 30.
Between 2009 and mid 2010,
China-based reverse mergers ...
increased by several hundred percent ... average flat!
Can you tell the Chinese transaction last night?
We are stuck in the approach to our investment value.
And with the approach and our guidelines,
it brings many Chinese-based companies.
And we get some hundred percent...
of all.
Longwei Petroleum, buy them, $ 1, $ 1.50. </ p >
We sell, $ 5, $ 6, profit 500 percent.
L & L Energy,
buy them under $ 2, sell for between $ 9 and $ 10. </ P>
Puda Coal, buying them around $ 4,
sold for around $ 7, large companies. </ P>
China Agriculture, CAGC .
$ 9, sold for $ 28.
Everything is a big company.
We have returned.
IN YOUR WATER, YOU'RE CANNOT CATCH FISH
Until 2010,
Dan and his colleagues at Roth & Rodman...
made great success through Chinese stocks.
Looks like it won't end,
and maybe it won't end, if it weren't for...
a young American businessman...
who went to Shanghai looking for...
fortune that is completely different.
The business I founded...
is the first self-storage business...
at mainland China.
The name is Love Box Self Storage.
World class.
And we win awards...
self-service facilities the best storage of that year.
When preparing the business,
I helped write "Doing Business in China for Beginners."
Carson's father, a stock broker in the United States,
wants to invest in Orient Paper,
The company that brought Roth Capital entered the market...
p>
The company claims to do a business worth 100 million dollars...
a year and send tons...
high quality paper to all over China.
It is one of fast growing companies...
that Roth & Rodman sold...
and that bought by investors like Dan.
The goal is to do research,
make sure it's valid.
His father will make a report.
Again, it will be easy to understand...
and analyze the business...
the opposite of the company American software.
Carson and his friend check the factory,
but immediately, something is unnatural.
The road is rural. The condition is worrying.
That road can't hold large trucks...
who goes in and out of the facility all day.
Then we go to the factory.
It's really like a trash can.
Half the machines are broken, doesn't work.
Samples rot in the front yard,
without signs.
And that is their main factory.
There are puddles everywhere.
This is a company which is a paper company.
Companies that have claimed earn income...
100 million US dollars,
which is firmly up from the previous year.
How can this grow 50 percent per year?
On the balance sheet, they show...
5 million dollars worth of raw materials.
So they have a stack < br /> for the sake of piles...
obsolete cartons in front.
My friend climbed one of the stacks...
saw the rotted cartons,
and when it came down, he said,
"If this is worth 5 million dollars,
then the world is much richer than I know." </ P>
Carson and his father looked at each other at that time...
ah, and said, "There might be something with this stock,
but it has nothing to do with it."
This business is really tricky.
This won't work. Absolutely fraudulent.
I've never seen anything like this. p>
Carson wrote the report of its discovery...
and announced to withdraw the claim...
by making an offer on the exchange...
that the shares will drop.
That will change his life,
but more importantly, it's the first time...
someone found a shortage in the miracle of China.
I sent it to the public... .
at the end of June 2010.
I lasted a bit for watching him closely,
and getting closer,
it just goes down a little.
Then I sleep,
I imagine the reaction will report it.
The next day was answered...
>
dropped 25 percent.
And ended up sold down...
as much as 55 percent...
from when we sent the report.
Even though it's China and its economic growth is fast,
the pigs don't fly in China, and I think that's...
There is a saying in China,
Yes, so it means water.
In clear water, there are no fish.
Huh.
That saying, "Water cloudy makes it easy...
catches fish. ", explains many things...
about what happened in China.
Keabu- abuan raises the opportunity...
for people seeking profit.
That is the view of the Chinese, muddy water (muddy water).
I think it's the right name ...
for the company and choose it. </ P>
"Muddy Waters Report"...
is a finding first big...
about Chinese companies, and starting to resonate...
to all industries...
no more than at Roth Capital,
who plans the transaction.
The target price is less than 1 dollar.
You have photos of dirty factories.
You have paper photos. recycling on the floor.
Your people climbed < br />... photos.
This is a company worth 150 million dollars.
It's a little crazy actually.
I sell more from 22 million dollars from the transaction.
I remember going to Byron's office,
asking, "What happened here?" </ p >
What "happened" is the company has...
done the classic step in reverse-merger rules :
search for an approval stamp from a trusted source.
Deloitte & Touche has done...
an independent investigation, mention...
that the company has accurately...
its financial statements.
In the mortgage crisis,
banks use rating agencies...
to hide their bad mortgage bonds.
Now Orient Paper even use...
more prominent protectors...
one of the Big Four a global audit company. </ P>
Every day, around the world,
Deloitte professionals make a meaningful impact...
It turns out that dozens...
reverse mergers China...
uses the same trick, hides their cheating finances...
behind the audits of the Big Four .
It's like giving investors, small stamps are flashy,
"Believe in us."
Because when we do our goal ,
all starts with integrity.
Whether it's Deloitte or PwC,
they hope those brands have significant value...
wherever they are, but the truth is...
the way the partnership was formed...
is that each company is in their respective forms.
So they can sell...
rent their names, effectively.
They all hope this company doesn't fall.
Some of the companies that will say, "Look.
We are audited by Pricewaterhouse."
No, not so.
They were audited by Pricewaterhouse China,
which is the franchise.
It's not really Pricewaterhouse.
In the United States, when we face. ..
mass fraud,
people always ask me, "Who is the auditor?"
And I always say, "Who cares?"
It's important to understandably,
and most people don't know this,
that financial statements are made by management,
not by the auditor.
The auditor's job is only to check management work.
And if management tries to hide something...
or has chosen the auditor, they will hide it.
If it doesn't work,
they choose a backup plan,
hire a reliable lawyer.
Orient Paper hire Mitch Nussbaum from Loeb & Loeb...
to answer allegations of Muddy Waters. </ P>
Mitch helped bring dozens of Chinese companies into the market,
and know how to fight it.
There are empty sellers who will advance...
and put a short position on the company...
then throw away all accusations against them...
Firm Nussbaum conducted an investigation.
The conclusion is not surprising...
is that Carson 's accusations are false...
and the report he leads to slander.
How do I know what those people said right?
- That's a big problem. - That's a big problem.
All right,
Let's talk about the case where are you do...
forensic investigations...
- Hmm. - Orient Paper.
I'm not ready in situations like this...
discuss or represent or add information...
of what we publish publicly, because it's not,
you know, it's appropriate.
Business in China is a center of big profits....
for Loeb & Loeb,
but I imagine that...
their reports are sometimes bad...
cause problems for Nussbaum and his colleagues.
I imagine how diligent they are...
to satisfy regulators.
Forget his lawyer. Forget the banker.
Bankers don't check bookkeeping...
and company reports.
Lawyers don't check bookkeeping...
and company reports.
We did not check to find out...
whether the shipment was received.
>
I mean, there is no law firm doing it.
There is no law firm doing it.
This is part of the story...
where I have to think both ways.
Everyone we consider as a supervisor,
the lawyers, bankers, auditors, </ p >
people who make money...
to make sure that the market is clean,
doesn't do that.
They only make documents as needed,
accept payment, then leave.
If companies are lying, then what? </ p >
The answers I received...
were not enough to cover my anxiety.
And I felt they were not deep enough... .
when answering my questions.
And that's when...
everything has changed significantly for me.
My eyes are open to this concept...
that there is another side to this company.
>
I know my duty. I know what I can't do...
if I just sit there.
So for me, is... stop ,
rest, and see what happened.
I went safari.
I was at the Rodman & Renshaw conference,
and the firm named Muddy Waters...
made a report on Orient Paper,
and it decreased significantly.
And this is the first time we really heard...
someone published a report and called it fraud.
We decided...
whether we are proficient...
we will get out of business.
I try to contact, whether it's the general director...
or the property manager...
Then we hire our own team. </ P>
And our team goes to China...
check out some companies that are accused of fraud. </ P>
Let's discuss China Green Agriculture.
China Green Agriculture came to our attention...
initially in 2009.
And we invested long-term what we think is...
big fertilizer companies.
Their stocks are rising.
Release press is published about the transactions they made...
with Nestlé and anyone.
And calculated that...
to fulfill the contract,
dozens of trucks will transport...
and send items all day long.
So, even though monitoring private companies...
in China it's illegal, </ p >
the team is at risk of going to jail for a long time...
because of installing cameras outside the factory gate.
We recorded it for 344 days. </ P>
The tape shows the least activity there,
very few employees go in and out. </ P>
And think if the company is running...
according to what they mentioned, they need...
hundreds of employees and dozens of drivers.
So what we do is, we ask our investigators...
masquerade as salesman tea.
So he comes, carrying a suitcase...
full of tea, he claims to be a salesman tea...
and wants to give examples of free tea for everyone. </ p >
So a total of 40 employees, right?
Yes, right. 40 ordinary employees. </ P>
Can you write the number here? </ P>
Okay, I'll write 40 people. </ P>
So say how many employees /> is here...
so I can give enough samples.
We get the answer.
How many truck drivers? Only one? </ P>
Yes. </ P>
What does it mean if they only have one truck driver? </ P>
That means their volume...
very much more sediditious than their claims.
In the first half of this year,
Ah, Yongye both revenues and their profits grew 100 percent .
Calling China Green Agriculture means...
that Dan also questioned the integrity of some people...
with whom he raised waves of Chinese stocks,
People like Crocker Coulson,
Stockbrokers who pushed that stock...
and the same dozens.
What about, hm, China Green Agriculture?
So that's another story about the fertilizer we...
Once again, this kind of goes back to me.
- Yes. - I believe that...
organic fertilizer.
That should also be...
um...
I really don't remember completely about the company. </ P>
From what we know , they do 10 percent...
of the business they claim.
Then resistance comes up.
Releasing news calling us terrorists,
sabotage builders, criminals.
There are statements from five Beijing financial professors... </ p >
who suspect foreign sellers...
are rich and smart...
are robbing small investors from China...
and ignore the risk of exchange instability.
They don't mention any evidence.
Let me be clear, we try hard...
trying to prepare companies,
you know, before representing them...
then found a problem -problems,
serious problems, if we pay attention.
There is no way of knowing...
where are good characters or bad characters.
The protector knows what is happening.
Then we visit investment banks.
We show our evidence. We say, "Look what we found.
If you use us and our team works hard,
You must have better products...
for sale to the American people. "
They said, " Get out of here.
>
You ask us to fund you and don't take 10 percent...
of each transaction through this bank.
The less we know, the better, and by the way,
if you tell people what you found, we will sue you.
Go home to Skippack. "
Then we go back to Skippack.
We publish our research.
Reports and based on suspicions...
about China Green Agriculture. </ P>
You know, nobody trusted him.
What happened to the leader?
Nothing. I mean, he saved the money. </ p >
And that's all about that, right?
That 113 million dollars, poof, is gone.
Ah, because they don't had a volume of that size.
And realized he got the money from the lies of those companies,
and it bothered him,
because he knows he will arrive...
to what people say as the financial dark side...
sell empty.
Is that selling empty? </ P>
Hmmm, I thought first about this. </ P>
I want... this is always difficult. </ P>
But sell. ..
Is...
Selling the first blank economically is...
maybe a few transactions among, you know,
two Cro-Magnon people,
promised some people... Cro-Magnon people other...
part of the tiger fangs.
This is Jim Chanos.
He is the empty dean of the seller.
And he already thwarted some of from the biggest scams in history.
If you want to think the question of selling is empty,
all kinds of advertising transactions are selling empty .
Airlines with ticket sales in advance,
for example, risking a place for you.
Selling blank bet that the stock will go down,
than it should go up.
So risking shares,
you will often hear it linked to "borrowing funds. "
This is where many people get confused.
Here's a simple way imagine it.
Say I want to risk sugar.
I think sugar has been too expensive...
and will risk less than, say, six months...
from today's prices.
I see it as a business opportunity.
I go to neighbors and borrow 1 pound of sugar.
Then I sell sugar that...
with the latest price of 1 dollar per pound.
Yeah!
After six months,
when you have to return < br /> 1 pound of sugar my neighbor,
I bought it on the market, when the price went down,
and I only spent 50 cents.
I return one pound of sugar,
plus a little for flowers,
and pocketed a difference of 50 cents.
He got the sugar back, and I made money from my bet.
You want everyone who stays up on the exchange...
believe what you say...
if you think the company is a cheat...
or you think something is wrong in the company.
People who are most interested by selling empty...
may be those who lost their brains at birth.
They are dissidents.
Do I believe that their motivation is...
for the sake of world justice?
No, I think their motivation takes advantage.
It's about cleaning up our financial markets.
It's about stopping fraud.
Who wants me do is,
I want to say...
Remember this man, Dick Fuld?
He ran Lehman Brothers, the bank collapsed...
in the monetary crisis in 2008.
He has opinions about empty sellers.
Grab their hearts, and eat before they die.
So there are many problems here. p>
There are many problems here.
When I bet against that company ,
because I believe,
if they misinterpreted.
And their trend line doesn't matter at all for me.
I am the one who will bet against fraud.
When Dan and Carson began to see...
other Chinese companies,
Matt had just returned from his safari. </ P>
He had been outside the radar and think you want to...
play where.
So he asks to his friend, Soren,
an financial industry lawyer from New York,
meet him on the weekend at mountains...
and check out some documents...
which he kept from his tenure in Roth.
In the process, they < >> find a new way...
see the views about fraud.
Matt said, "Just look at these companies.
Tell me what you think. "</ P>
L & L Energy is the nominal coal company. </ P>
Typical RTO fraud...
in its financial performance ..
is too good to be true.
The idea that reverse merge is small...
from the interior of China can...
efficiently mine and process coal...
is far better than the best coal companies in the world...
is not a flexible thing.
Check the document,
they unpacked a new way...
to understand what actually happened...
with hundreds of Chinese companies...
list on the United States Stock Exchange.
We are back with what is called SAIC documentation.
That is a document from the State Office from, uh...
Oh, dear, I can't believe can forget it.
State Office, Adminis...
State Administration Office. Really?
The most important thing here is...
documentation in China tends to be very accurate.
or more accurate than the entries registered...
to the Securities and Exchange Commission.
In China, companies can accurately say...
they make 10 million dollars, while in the United States,
they can report yields 100 million dollars or more.
SAIC documentation cannot be relied upon.
They show whether the true bear happened.
And this... this is a cultural difference,
we can't find auditors in China who want to help,
because I told you,
if we find people like that,
the Chinese government will kill them.
I mean, they will pick it up...
and shoot his head.
This is, from the beginning, a fraud.
The goal is to cheat,
from the beginning, and we will never < br /> see it...
on that scale on the United States exchanges.
And that might be what surprised people.
That included Matt, and the reaction said,
maybe this shows human nature,
why we always get stuck in that mess.
He is aware that hundreds of millions < br /> million dollars from...
the results of China's reverse merger what he sells is fraud,
but he reacts not with remorse, but pragmatic .
He wants to make sure he gets a portion of the decline,
so he switches parties...
and becomes an empty seller, like Dan.
I... I did it and produced 78 percent...
for 4 days.
Finally LLEN collapsed.
For empty sellers like and Matt,
the documentation is a piece of the last puzzle...
is not just evidence from one company or another...
but data from all company.
For the first time, they can see...
the entire scope of the fraud.
I don't know the amount,
>
but the losses of American investors...
reached billions of dollars.
30 billion dollars, I think the figure reached 30 billion dollars
- 20 billion dollars. - 50 billion dollars.
Between 20 billion dollars and 50 billion dollars...
of Exchange capitalization of registered shares...
in the United States may be worthless.
Mediocre investors...
so that results in...
ordinary people in the community too.
If one company is so insolent,
what does it mean for the whole exchange?
More than 300 reverse mergers ...
with businesses operating in China.
Everything can be fraud.
And the funds may be never saved,
and if you get caught, there are no consequences.
When you discuss investment banks,
especially the larger ones,
fraud is processed in income reports. </ P>
How much banks investments...
have to pay a fine for this year fraud?
Wells Fargo? Never. </ P>
Bank of America in the past. Ever. </ P>
Morgan Stanley di masa lalu. Pernah.
Nobody is jailed. Only fine.
So it becomes...
becomes part of what you budgeted for .
>
You budgeted fraud.
Beliefs and deception might begin with the fact...
that Flint, Michigan, where he grew up,
is a victim of such fraud.
Large companies make grandiose promises to the community there,
and finally , can't fulfill it.
And see how lies that originated from those corporate offices...
have an impact on ordinary people.
Where other financial people see the market sense,
And looking at his hometown,
is abandoned, full of ghosts. </ P>
Regions this is pretty good 30 years ago.
This was once a school.
But for stadar now, is rather hard.
I mean, I can't even imagine 10-year-olds, 11, and 12 years...
playing baseball now. </ P>
No, I'm really...
I'm happy to grow there, of course .
Companies lie.
Those companies only care for themselves...
not for the community, not for the community.
People need to care about with themselves.
Flint is a great city.
Always a great city. </ P>
The community is hardworking. </ P>
The people are very hard workers. </ P>
Alright, pay attention. </ P>
I grew up in Flint...
dan tetap di sana selamanya.
Then job opportunities disappear.
And have investigated companies...
from the bottom up.
Matt has seen in detail...
their SEC documentation.
They are together aware...
how simple it is that practice.
Let's say you want to plan cheating.
HOW DO I WORK?
What you will do is, you need a factory.
>
You need leadership.
Then you need to find someone,
protector, for example.
An inventor said, "This is your business .
What can you do with 100 million dollars? "
He will help with his connections with the auditors,
third level banks that are legal.
"That will be... will be a game changer."
"I will buy my suit. I can do this.
I can do that. I'll be this big. "
Get to the United States.
This person or company in China...
will say, "Okay, I'll find you...
100 million dollars, but this is what you have to do .
You have to telling the public you are already this big. "
You just have to make sure marks all the columns...
to make it available for sale.
And don't worry, because if they find out...
that we lie, you won't go to jail.
- You're in China . " - All you need is...
kongkalingkong from some people,
and you can cheat whoever you want.
And if we are lucky enough get the money...
and they know you are lying ,
you still get the money.
So there's really no risk. I manage everything.
All you do is /> keep lying.
You know, if you want to become PET...
from a public company, you have to be educated,
college, MBA.
Those people don't have one.
Nothing, mostly those people.
They come from cities level two or three in China. </ P>
They come from business practices in different ways...
Sort of the way businesses run < br /> their own candy shop...
A chicken farmer from China one day does not wake up...
and understands how to cheat the United States capital market.
From company formation- This small company,
is all about stock market fraud.
When Dan, Matt, and other empty sellers...
found basic characterization...
of Chinese cheating, they started unpacking it, one by one.
Puda Coal, its leader, stole the funds investor.
SINO Clean Energy, advanced technology.
This company advertises on buses.
They will break up coal, mix it with water,
and that is phenomenal energy... .
They rent none other than Loeb & Loeb to sue us.
China Integrated Energy,
for weeks, no activity in this company.
Suddenly suddenly, starts life.
The lights start turn on.
Next day, Rodman & Renshaw appears...
with a bus full of investors.
Take a tour at their facility, < br /> go back to the bus, then leave.
All lights turn off again.
Rodman investors, invest a large amount of money.
You continue to find attractive anomalies in China.
I'm talking to people who run the gas industry...
steel processing plant suppliers.
>
"We made profits from this now,"
then they said, "Yes, but there is a problem.
It looks like the gauge is wrong ,
that we billed to the factory steel processing. "
I said," When did you find out? "
They said," Just last week. "
I said," And the gauge is wrong. How big is it? "
" Uh, the amount corresponds to our advantage.
very strange. "
GUANXI OR EXCHANGE GOODNESS
If you respect me, I will respect you.
If this respectful reply is about profit, I will give up.
I was told to say hello Dear Ho,
whose ancestors have become the triumph of their territory.
I'm a polite Ho, whose name stands in the shadow...
to become a great nation.
In China, business is done following tradition...
does not have a strong legal system.
So people prefer trust and personal relationships.
I will benefit very trustworthy.
There is a lot of focus in shaping < br /> the relationship...
so you can build trust.
The Chinese nation calls this network this personal relationship, guanxi. </ p >
So I give you a gift and I help you,
and you owe me. You scratch my back,
I will scratch your back.
p>
If you give enough help to people,
you can ask...
their help might be rather less fun for them. </ p >
And they feel have an obligation...
but also representing something stronger is crucial.
And having told me that pursuing Chinese companies,
can be dangerous. But it wasn't until when he told me about...
Alfred Little who really made me understand what he meant. </ P>
When reports < br /> it began to appear,
there was a website named Alfred Little.
And it began to release very important reports,
sales of leather shoes, like,
"We go and sit in front of a factory,
and this is what we found."
The website describes Alfred Little...
as an investor with 35 years experience,
I think he seems working at Deloitte.
You know, maybe he lives in Shanghai.
I mean, there must be a background the story, right?
Basically he said that,
all companies in China were cheating,
the transaction was nonsense.
And I underestimated it.
I don't remember the date, but there is an email saying,
"I'm going to New York. Let's meet." </ P>
I'm like, "Oh , okay, " then I go to a hotel,
and that person is there, and he says,
" Oh, I'm Jon Carnes. "
Like, "I am...
you know, I'm Alfred Little."
As one of the few Westerners who still works as...
empty sellers in China,
Carnes knows how to be careful and cover up the tracks.
Posing as Alfred Little making it safe.
But when he decided to check Silvercorp,
mining company in the interior of Hunan province ,
he and his investigator found the dark side of guanxi.
You know, some companies are more aggressive than others,
but in general, I find that the more the report matches the reality,
the more difficult for the company to explain...
the negative reality,
moreover they will do some sort of retaliation.
Because if the company can't answer...
questions from the sellers,
they will look for other ways to stop the negative report.
While Alfred Little started publicly questioning Silvercorp,
the company's stock price began to fall.
Company officials asked help...
the local officials.
The police began to threaten the head of Little's research team,
Kun Huang,
holding him for hours or days,
finding out who they worked for.
Carnes knew that there were no troops come.
He asked for SEC's help, and they said...
their phone even could not contact China.
let alone protect him and his team.
I'm looking for Yi's officer.
He sent other investigators to record the evidence secretly...
that local police officers help sell Silvercorp.
He will use the video as a tool for removing Kun from prison.
Have you contacted Kun Huang?
Communist Party Officer: No.
Officer: No longer related to him.
Officer: Kun Huang is meaningless. Like a pebble.
Officer: Dispose of one and no one will care.
Officer: He is Chinese who violates the law in China.
This issue... If Silvercorp doesn't make it < This mess...
Everything will be finished by the end of last year.
Officers: Don't worry, we won't sue innocent people. </ p >
We started investigating Silvercorp around May or June 2011.
We were told by other investors...
that Silvercorp did < br /> silver mining in China,
and viewed very high.
Kun has made a secret video...
about mining business Silvercorp,
and some local officers they bribed.
He was detained twice at the end of 2011,
and the officers promised would not bother him...
if he wants to expose and report Alfred Little.
He refuses, then in that year,
he is banned at the border while trying to fly to Hong Kong.
When I first entered the detention center...
no one told me that I had the right to speak with a lawyer .
I know that the investigators are collaborating with Silvercorp,
and they want revenge.
I came at midnight and they put me in a cell.
The room is only 30 square meters.
The room was full of people who slept on the floor.
I was afraid. I don't know how long I will be detained. </ P>
I didn't do anything illegal. </ P>
But finally I was detained in China for two years.
It was a big disaster for me.
It destroyed my family.
But I thought that I did the right thing.
Good intentions will finally be defeating evil. </ P>
What... how much is mine? </ P>
Right. </ P>
Hmm.
Before Jon was exposed as Alfred Little,
And thinking he was crazy.
Hey...
Now, along with Carson, Matt, and Soren,
mereka adalah bagian dari klan loose-knit.
Blank seller activists eradicate fraud in China.
Most of them are realists...
who believe the market will find the truth itself.
And different.
He considers it a personal matter.
Kun still visits psychologists once in a week.
You did a good thing...
Don't just let it go.
Take care of him while he is there.
How many other people do we know will leave him alone. </ P>
We owe him a lot. </ P>
His prison Kun changed And. </ P>
As far as we note,
it's not just uncovering fraud again.
It's a matter of right or wrong.
His friend has been imprisoned,
and millions of people have been blackmailed.
He wants to intervene in the government,
even though he can make himself...
and other sellers leave the business. </ p >
So he hired a lobbyist and planned...
attracted the attention of Congress.
Both Toomey and Casey, were on the Senate Finance Committee.
- Mm-hmm. - So I submitted...
the hearing of the Financial Senate.
You, you talked to the staff.... who attended...
meeting after meeting after meeting after meeting.
So I thought many people didn't know, this really happened...
Every person I talk to, every person involved...
on the stock exchange, don't even know. </ p >
Lots of people don't know.
So this is the part that is frustrating.
So in our first meeting with Toomey's staff.
Hm, he, he actually recommended, after one and a half hours,
- a campaign letter. - Right.
First, you know, welcome to 2016.
Hm, but my guess like that can still work
Two, I for hours explain to him,
that nobody knows they are being blackmailed.
How am I can make people write letters...
about things they don't know is happening?
If we give up, you know what /> that happened outside Washington? Nothing. </ P>
You have to be at his hearing. </ P>
You must consider yourself as an expert. </ P>
That's why we < You have to go to Washington,
That's where we will see the changes.
- That's very frustrating. - Mm-hmm.
And I'm just...
don't want to hear the world again.
And have a plan.
Still have a hearing with the Senate well there is a danger from China or not...
for our economy.
He took the opportunity to meet senator Toomey.
And make him listen to his concerns.
Will you choose him on that occasion?
- How do I choose? - Oh, good, good.
I'm sorry, I'm sorry. We chat casually...
and I forget.
Fine, let me say this, I won't choose...
the banjo.
I think there are some great people...
the work is just nonsense.
If you want to run a business and you...
become a protector of interests of citizens...
Citizens' rights, you have to do your job.
Thank you, sir.
Or let someone else who do, like that.
Today, the Committee will listen to testimonials...
about the Chinese economy and the risks to...
United States.
Some believe that the Chinese economy's stimulus,
after the 2008 financial crisis,
has weighed on the financial system... .
with the percentage of debts that are not normally high...
China does not transition, uh, to a market economy.
They don't grow because of the commitments made...
when joining World Trade Organization.
The Chinese government appoints their SOE,
which is also called SOE,
and oversee companies privately, while limiting...
market access to the United States and other foreign companies.
And hope that < br /> Senator Toomey...
will touch on some of the questions he brought up with his staff.
But he left the hearing earlier.
And things go downhill from there.
I'm not sure I can see this as something to worry about.
What we need to worry more about,
is a continuation of instability in China...
and what are the implications...
How fast is the economy of China growing?
I don't know for sure. We don't have reliable numbers. </ P>
You know, I really agree...
that China's growth is not up to 6.7 percent. </ P>
Closer to the number, is around 4 percent.
So if the Chinese credit bubble breaks,
whether it's fast or slow,
bringing the Chinese economy down company...
- in the United States... - So, so you're not worried...
about exposure through derivatives... </ p >
which, for example, created our banks,
was fixated on the question of commodity prices...
or financial transactions Others are more direct?
Not through China alone...
atau transaksi finansial lain lebih langsung?
Tidak melalui China sendiri ...
Me and David. I'm sure Tom gave you my book.
- Oh, yeah. - Yeah.
You will find it...
"The China Hustle."
Right. That's right. </ P>
If you, uh, read it and you're interested,
I'm happy to talk about it with you about that. </ P>
Alright .
So, a few hundred billion are cheating,
and that continues.
It hasn't stopped yet. Lasts continues every day. </ P>
- Good. - Yes, some of them. </ P>
Very short and...
- Okay. -... underestimate and generic. </ P>
- Not important. - The only thing I...
heard in the end is Shelby, saying,
you know, we have to face reality.
- That's how it is. - Okay, the truth is,
- they won't do anything. - Right.
Most importantly, you know, you must lose...
- if doing anything. - That's right.
Uh, why did you come to Washington?
I was hoping that could bring it forward,
p>
defending the rights of investors,
to... appear and see what really happened...
at the committee hearing.
What happened at hearings?
Not much.
I thought and tried...
invited Congress take action, is a good thing.
Do I think that is the way overcome the problem? No.
I don't think so. </ P>
All SEC staff have not captured,
A number of sellers have captured,
forty or fifty from these cheats.
Coach, you want?
- Yes, I want. - Does he still live in France? </ P>
Excuse me, ladies, will I get something? </ P>
Soda, water, beer?
Pop, can you get Sean beer?
No, he can take it himself.
He's big.
Uh-huh.
- Geo Investing. - GO?
GEO.
I bet against them.
I will write a report, and release it.
And I will say they are fraudsters and I will sell it.
But when they drop,
I won, but you all lost.
We lost everything.
Initially good. We didn't get...
This is a skim that comes from from everyone's account.
That's the change from anyone...
it can reach hundreds of billions.
So you're campaigning for something to happen.
So I won't make money anymore.
- You're a good person, Danny. - Yes. </ P>
I always think you're always good. </ P>
It's impossible. </ P>
And I'm not a good person. No. Just...
can't be silent, that's all
Explain to me again,
why did you make money and we don't.
You bet against them. It sells them.
Okay.
Graduated with 1.6...
- I'm kidding. - There are two things here.
First, I don't know really graduating.
Carol read...
Something happened in China right now,
they found which they thought were aliens.
Isn't that buried in, they found it?
Yes, it will be a small wrinkle.
That will make what I did the last 3 years in vain.
It's OK. </ P>
- Thousands of years ago. - Yes. </ P>
Yes, I don't think he will return in full. </ P>
In the end, investors who rely on SEC...
to save them from lacking due diligence, or greed,
embarrass themselves .
We have more opportunities in our exchanges than anywhere else in the world.
But, at the same time,
we don't have a regulator who oversees our documentation,
and say, "We want to protect people from this."
Our system... you know, we send documents to the SEC,
and the SEC read the introduction, and commented...
on, it was delivered.
They did not determine whether was suitable for the public or not.
They don't make that provision.
They leave the free market decisive.
SEC must do its job.
Your job is to keep an eye on investors,
but you put the interests of the Chamber of Commerce...
and their big business members ..
on your top priority list.
It is SEC's task to protect investors.
But it was registered in the 1930s,
at the time the stock price is rolling on the old machine...
and exchanges are closed at 4 o'clock.
Now, they are losing weapons and losing members,
like Keystone Cops chasing ships starship "Enterprise."
Even if the SEC gets all requests...
from company documentation...
and they have enough evidence to make it a case,
the Chinese people who are responsible for this, don't really care.
When someone violates the law here ,
there is a process where they are accountable for accountability.
At some point in a China-based company,
accountability is lost
Disappeared in the ocean.
This is one of the first things ever said and told me.
In China, stealing from foreign investors < br /> is not illegal.
I don't believe the SEC allowed companies...
to be listed on the United States exchange, if there's no way...
policing them.
So I found an employee China state financial news agency,
who wanted to take the risk morphed the truth.
My name is Summer. I am an economic journalist for state regulators. </ P>
If the company releases false information about...
its financial statements are on the United States exchanges,
China's local regulatory authorities...
do not have the authority punish them.
I'm sure to be punished...
if you make fake products in China, talk theory.
If I go abroad, if I lie to foreign investors,
Chinese authorities don't can do anything to me.
The outline is,
the Chinese government and the United States government,
at a certain level, does not work well together.
You can't force someone...
who has stolen millions of for millions of dollars...
from American investors come here from China.
You can't force them to testify.
You can't even find them.
Forget about ordinary people...
who thinks that their broker or the SEC will protect them.
Even people like Crocker Coulson,
who works on the system, can't find...
what actually happened with these Chinese companies.
You're in an alternative universe .
There is a kind of gunfight...
to do the simplest thing.
You can't even see the bank's financial statements.
You can't even go to the local bank and ask for it .
Often, managers from local banks,
will reprogram bank bookkeeping...
make it look like the client's bookkeeping they are better than them.
Every time there is a country like China,
where information is not easy to obtain,
Such a society has a far greater risk.
In the United States, we can go directly to a firm...
and we can get documents like that.
Looking for those documents in China, it's really more difficult,
is not even possible.
If you want to be a criminal,
the possibility of the best place to become a criminal...
is a place without police, and that's China.
That is a wilderness > west (Wild West).
I've arrived. I'm at the airport.
Just headed to the hotel.
And like Nicolas Cage < br /> in the movie...
where is he the only person who knows the world will end.
He shouted it, but nothing care.
Auditors, bankers, Congress, SEC...
None of them saw a financial tsunami...
what Dan saw came from China.
Then he decided to do one thing he could do,
took the criminals' money.
Their funds have soared,
of 4.9 billion four years ago...
reaches 6.5 billion today.
It was revealed that the only way they could do...
to support the process of their business,
is through delutive payments.
Normally, And releases the report online.
But this time,
too much is at stake,
companies worth nearly 2 billion dollars, Tech Pro.
He believes that the leader of his company,
wrongly allocate funds...
cover up his personal projects.
If he can convince the market, he can get the company out.
That would be the biggest sale.
Now, I don't know what others say,
but, something happened > here.
Our feasibility test, lots of black smoke,
there is a lot of black smoke from this company.
That's fire.
That needs to be checked.
♪ To change the world ♪
♪ I want to ♪
Join us on the stock exchange now,
And David. He is co-founder...
test-worthiness firm, GeoInvesting.
And I see it, You also take specialization in China?
Yeah right. My presentation about Sohn in June...
for Tech Pro, Tech Pro dropped 91 percent. </ P>
Do you need a good name recovery when you see the stock...
- it drops like that? - Yes, it's inevitable.
I... The stock will always drop.
Are you sure it's about China only or just...
What is capitalism?
What is an economic system?
Is that an tool that we can use...
to make a profit more for yourself...
and take advantage from others?
Basically, it benefits them who works hard,
but also benefits those who want...
take advantage of from others.
PUBLIC PENSION FUND LENYAP SENILAI 14 BILLION DOLLARS FROM CHINESE CHEAP REVERSE MERGER
When we describe fraud like this,
we use terms like "white-collar crime"...
to distinguish them.
But actually, < br /> is a thief,
In the process, it was fleeting robbed on the road.
It would be traumatic if you traced his personal losses.
How many were stolen of each pension fund,
severance funds,
of each of us.
The real story is the amount of value.
These are the investors, in the end, are mostly retail investors.
They are mostly just people who play on the American stock exchange,
who pay attention financially and trusting it.
The money is money...
ordinary investors...
who thinks, "Hey, I want take part from the story of China's growth. "
And also those funds belong to...
mutual funds, like Vanguard,
who manages the funds for, for example, The New York Times,
is it right? Employees.
Money from my pension funds.
p>
We sell ourselves to Chinese myths...
as if an interesting market.
Nations that want leveling effects ..
from free trade.
You should know better.
Yes, what will I pay for,
if I have funds in Fidelity,
isn't that... why am I paying these people? </ P>
I don't know. I don't pay them. </ P>
I don't give them my money. </ P>
It's like a game from the orchestra,
when the music stops,
if You just have to hold the music paper,
if you just hold the funds,
Okay, hm, my name is David Yee,
and I live in Atlanta, Georgia.
My name is Ray Snader.
I'm a print and broadcast journalist....
in Newport, Tennessee.
Tom Snodgrass from, uh, Spring, Texas.
What attracted me to stocks /> China registered in the United States,
is a high profit. </ P>
There is great turmoil about them and...
a lot of attention.
I was expecting a good retired deposit...
for my wife and myself.
I didn't get a funding plan retired in my job.
I didn't get a fund plan retired in my work.
Roth Capital, issued purchase recommendations.
Company first one that really caught my attention,
is AgFeed. They are said...
as the largest feed producer in China.
My last shares, I bought,
only 9 dollars.
We got... 12 cents per share.
And, we were about > have a total of 26,000 shares.
What kind of loss did you receive, personally?
It's a number,
about 150,000 dollars.
I think I lost, about 100,000 dollars.
My investment in these Chinese companies,
represents the most not 50 percent of my assets.
Prices are shaky,
and they end up, out of the list and not traded. </ p >
- The value is empty. - 0 dollars per share.
We believe in the market,
to the government to monitor the market.
And I think, uh, we lose in each transaction,
in certain transactions.
>
Roth Capital issued purchase recommendations.
I'm not sure they ever visited the factory in China.
The fact is, today, </ p >
I'm not sure there are China Electric Motor companies.
- How old are you, Ray? - I'm 68 years old.
So the money is gone where?
To bankers and lawyers,
who helped prepare transaki.
And to the Chinese executives who made millions...
while companies they collapsed.
I don't know what's worse,
or brokers on Wall Street can operate...
under the law, only doing their work.
One side or another, most of them escaped,
were free.
One exception, namely Rodman & Renshaw.
There was a short time, General ?
No.
During the peak of the reverse-merger explosion,
they distributed almost 18 million dollars...
as a bonus for their executives.
But their problems were revealed.
In 2012,
they pay fines 315,000 dollars...
and submit their licenses their brokers.
Immediately after that, they are declared bankrupt.
So I want to make you understand.
- Right. - Not Rodman & Renshaw.
- Right. - I'm chairman of Rodman & Renshaw,
I'm not a banker at Rodman & Renshaw. </ P>
I'm not related to financial transactions in China. </ P>
It's not me. </ P>
I told them, "You have a problem with it." </ P>
I left the company, uh, about a year,
18 months later, from the council. </ P>
My question is, who did he tell? </ P>
What about, "Then I went to Washington...
and met people I know...
when I campaign for the president...
and tell them what happened "?
I don't seem to want put in a movie.
I thought this was just... wanted to attack me.
I don't need that. I try to form a business.
I don't want to be attacked. I didn't do anything wrong.
You are the leader board. What kind of role is that?
A leader of non-executive council?
Isn't he the one running the business,
or he really is there as a leadership figure,
who lent his name as credibility
of the situation?
I mean, that's the habit.
Like the Monica Lewinsky case.
Forget Monica Lewinsky. No problem...
what did you say about that. < br /> That's a bad story.
So, let's just let it go this session, okay?
- Sorry for wasting your time, - Am I,
membuat malu masyarakat?
Did I say, "You're not shameless...
for not asking the right question?
The auditors are embarrassing for letting it get away?
The regulators are embarrassing because they don't make...
the requirements tighter and harder "?
So, you think there's no problem here? </ P>
Do you want to blame one or someone about this? </ P>
Ridiculous. </ P>
That's ridiculous. Everything... wrong. </ P>
Damaged. </ P>
Stop this. This is a mistake for me. </ P>
This is one of the people who depend on me.
I have a firm.
I have people who work for me.
I owe my best chance /> to provide their livelihood.
And, this doesn't help. This hurts.
So I just go out.
Yes, I'm not...
This is not a part to attack you, sir.
This isn't help...
That's not it, it's not my intention, nor is it...
Uh, I thought I could do this academically,
but I realize I can't.
Do you know? I...
China is fundamentally...
the social system that is damaged or chaotic. </ P>
The community that reaches the top,
>
reach it by breaking the rules.
Good people who want to follow the rules,
are trampled and pushed to fall to the bottom of the pile.
This, in some ways, has nothing to do with China.
If you give the incentive structure...
oh my goodness, we find the same amount of cheating here.
It's an easy thing for them.
Bull against a bear, Constantly.
And now because I trust the bear,
I don't know whether can return to the bull. </ p >
But, no regrets work for them.
My clients make money.
The community loses.
I think this is happening anywhere in the world.
But that's all, in China,
everything is due to multiple times .
You know. You have 1.3 billion people. </ P>
I mean, the consequences are huge. </ P>
We never saw credit formed...
like what happened in China right now,
which was not followed by, a great monetary crisis.
So, stay here.
We, we have, so far, the most active market...
in this world. So far! </ P>
So, that freedom, leaving those decisions...
to the private sector, you know,
, that opens a lot, lots of capital.
This is financial crime...
in the last 25 years, with the exception of Bernie Madoff. </ p >
It's still too easy for bad guys in the economy...
avoid Washington.
We cut regulations.
I said 70 percent of the regulations could not be used. </ P>
I thought you saw a lot in common with mortgage crisis...
in, in 2008 and the situation in China...
We already have a chance, after the global financial crisis,
my opinion, and we missed it.
It's like an appetizer,
at, those little garbage companies,
who, often, demonstrates cheating.
We count 50 billion dollars,
and it's like an empirical number.
That's the amount we can say, "Boom."
We can conclude and cheat it...
and hide it.
we're not talking...
that there are hundreds of billions of dollars...
that we can't even touch.
And cheating that can done...
through China with other intentions.
So it's not 50 billion dollars,
and not some investment banks,
and not some people in the United States.
Itu semua orang. Semua bank.
Do they know or not.
Giant e-commerce company from China, Alibaba,
made a Wall Street uproar today.
The company...
took off its first general offer...
on the New York Stock Exchange. </ P>
The stock price jumped 38 percent...
That is a perfect storm. </ P>
Yes, eBay and Amazon and PayPal are quite easy ,
but this is Netflix; this is Groupon...
I mean, it's a perfect storm.
That is the first time the main internet company from China...
has gone public in the United States.
Uh, there's an old joke that the biggest lie on Wall Street,
is that right now, is different.
Advantages of Alibaba in the second quarter,
jumped by around 179 percent to 2 billion dollars.
That was a perfect storm.
That's the truth.
You don't need to be smart < br /> to really look for it.
You're like buying a lottery ticket.
Alibaba is a lottery ticket.
Charismatic Founder, Jack Ma, appear...
challenge some technology icons.
Should we join and buy Alibaba shares?
Yes, this is China.
Is there something that stands out...
which is worse than this? I, I, can make that argument.
That is Jack Ma , meet with the president.
Jack and I, will do...
- great things. - Small business.
- Thank you, Jack. - Thank you, sir.
The CEO of Alibaba, Jack Ma, said, "Just trust us, just believe."
In this country, when someone says,
"Trust just to us, " the first thing you do is,
take care of your wallet.
Don't trust anyone,
and don't believe anything You can't see and check it yourself.
And that applies to Alibaba too.
- So why do you still do it? - Fuck them.
They lie.
Roth Capital Partners Still Organize an Investment Conference.
Loeb & Loeb Are One of Their Sponsors.
Setelah Mengajukan Kebangkrutan, Rodman Merger Dengan Kompetitor Dan Masuk Kembali ke Bisnis Bank Investasi.
Carson Block Still Running Muddy Waters. He Becomes One of the Most Successful Blank Sellers in America
Matt and Soren Continue to Sell Empty Cheaters
Since 2004, Wesley Clark has joined a board of at least 18 public companies.
He continues to speak at conferences - Investment Conference. </ p >
Jon and Kun continue to work together.
Kun in the middle of a lawsuit against Silvercorp, Seeks Compensation as a result of Wrong punishment against him. And Urgent Campaign in Washington.
Dan Terus Berinvestasi Pendek, Dan Mendesak Kampanyenya di Washington.
Dari Perkiraan 400 Perusahaan China Yang Masuk Bursa Selama Ledakan Reverse Merger, Hanya Satu PET Yang Masuk Penjara.
Di 2016, SEC Memulai Investigasi Praktek Akuntansi Alibaba.
In 2017, President Trump Appointed Jay Clayton, Who Works as a Lawyer in Alibaba's IPO, To Chair the SEC.
Today, More Than 100 Chinese Companies Trade on the Exchange United States securities. </ P>
Nilai Pasar Gabungan Mereka Lebih Dari 1.1 Trilyun Dollar.