Boiler Room : Someone please explain the…

Someone please explain the…

...phones in the next building. I get the fact that they were selling stocks to companies that didn't exist, but what was with all the phones? And why did Seth call it an "out" for Greg?

I know next to nothing about stocks, etc., so it just seems a little confusing.

Re: Someone please explain the…

I was confused about it as well. If I remember correctly (from what people said on this board, which then made Seth's dialogue more clear), they had basically duplicated the office of JT Marlin into another location, so if the feds shut down the actual office, all brokers could immediately go to that location, pick up the phones, and resume work as with no impediments.

I still think that's farfetched, and wouldn't seem plausible, but that was how people explained it. The boss, when inspecting, even asked his assistant how long it would take to transfer the work over, and I think the guy said it could be done within an hour or something.

Re: Someone please explain the…

I was thinking that if the feds traced the calls it would lead to the empty warehouse, buying the firm a few extra minutes. But that doesn't really make sense. Obviously there would be some recon before a raid.

Re: Someone please explain the…


they had basically duplicated the office of JT Marlin into another location, so if the feds shut down the actual office, all brokers could immediately go to that location, pick up the phones, and resume work as with no impediments.


That would never work. The Feds would have frozen all their finances and suspended their trading. Moving wouldn't do sh!t. Once the fed were on to them, how would going to another building help at all? They aren't retarded. They can just tail someone to work. How were they supposed to know the feds were after them anyway? Its not like they send you a notification or make a courtesy call.

Re: Someone please explain the…

Actually the SEC may contact them to ask for clarification of some trades or something...at that point it's safe to say the feds are watching. I think the whole boiler room thing was a great idea..pump n dump.. alls fair in love and war

Re: Someone please explain the…

My guess is that they would open another center. New name, new stock, new employees.
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