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Bob O'Brien's Sanity Check Blog

Author: bobo Created: 1/10/2006 10:09 AM
This blog is dedicated to Bob O'Brien's Sanity Check editorials, and discussions about the Market Reform Movement, the SEC, failing to deliver/naked shorting, etc. It was created so that his many detractors and fans can tell him that he is full of it, correct his mistakes, rant and rave, kowtow, preen, or whatever seems appropriate. The only sins are being boring, or inarticulate, or dim. Humorous pieces can be found in the new Funny Bunny Blog area above, for a lighter-hearted take on being a bunny. Older Bobo blogs can be viewed by selecting a month under the calendar to your right.

The Parade Of Absurdity Continues
By bobo on 11/30/2006 7:59 AM
Even as a Senate investigation into the SEC's cover-up and whitewash of the Aguirre/Mack matter heads yields troubling preliminary conclusions as to that regulator's desire and capability of policing anything, much less our markets, a "blue ribbon panel" recommends that the SEC do even less policing...UPDATE12/1: NEW CROSSCURRENTS ARTICLE NOW LIVE
Comments (81) More...

Conversations With A Friend Over The Delivery Failure Crisis & Ensuing Implications
By bobo on 11/27/2006 8:42 PM
I had a chat with a friend today who knows an awful lot about the markets and the system, and what came out of it was as fascinating as it was disturbing...
Comments (48) More...

Counterfeiting? Fraud? Maybe...But There's More!!!
By bobo on 11/26/2006 10:26 PM
For everyone who's been waiting for an explanation of what it is that the brokers are really doing when they sell you shares and then don't deliver them, but lie and mislead you into believing that they did, your days of waiting for an explanation of what they are actually doing are over...
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It's The End Of The World As We Know It
By bobo on 11/23/2006 10:40 AM
What would you do if I showed you documented evidence that the SEC and the DTCC colluded and lied in the most baldfaced manner possible about the size of the FTD problem, and that the lie is much, much larger than anything anyone imagined?
Comments (107) More...

Senate Judiciary Committee To Evaluate SEC Effectiveness
By bobo on 11/21/2006 7:31 AM
That should be a short hearing. And the SEC offers up another example of, "Steal a buck, pay (or don't if you don't feel like it) 50 cents."
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Lapdog Gets Case of Howling Fantods, Scares Bystanders...
By bobo on 11/20/2006 12:11 PM
They are out to get me. Really. They are. I just know it. Of course it helps that my buddies are short the company, and I am just trying to libel them in a backhanded way....
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SEC Internal Controls Ripe For Abuse
By bobo on 11/17/2006 8:06 AM
Would it be bad if tens of millions sort of slipped through the cracks of our regulator whilst their top-secret computer data was passed around Wall Street like a pack of Kools at a rock concert?
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Einhorn/Greenlight slapped by Canadian Judge, ALD FOIA data now available
By bobo on 11/15/2006 12:23 PM
Is that bad, when a judge basically questions your ethical makeup while you are trying to portray yourself as a paragon of virtue???
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Patrick Byrne radio interview now up and live
By bobo on 11/13/2006 7:09 AM
This is a pretty good one, in that he is nuts and bolts on the scope of the problem.
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This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting...
By bobo on 11/8/2006 5:42 PM
It's kind of wild the lengths certain segments of the media will go to in order to denigrate their critics....
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IBD Does Second Part of NSS Article
By bobo on 11/7/2006 10:40 PM
IBD has the second part in its series on NSS.
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IBD Does Series on Naked Short Selling
By bobo on 11/7/2006 8:52 AM
The pages of IBD are now acknowledging that there's trouble in River City....
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From The Financial Policy Forum's Derivatives Study Center Comes the Cry of Fire in the Theater
By bobo on 11/3/2006 8:41 PM
Every now and again, something important comes along that should be distributed far and wide. This is one of those pieces. Every politician should be forced to read it. None will.
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Whoops, I Did It Again.....
By bobo on 11/3/2006 10:35 AM
When hedge funds start grinding like Britney to a backbeat, you can bet a lot of cash was made...
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Printing Money The Wall Street Way
By bobo on 11/2/2006 8:10 AM
So, you run a short-biased hedge fund, and you need to raise an extra $150 million this year to pay redemptions, and to create big bonuses for yourself?
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WSJ Piece Today Can't Figure Out Why There's a Rush To Leave The US Markets
By bobo on 11/1/2006 9:09 AM
In a highly unoriginal piece today, two politicians posit every reason but the obvious one for why everyone is taking their money and leaving the US table...
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Decline of Western Civilization; I Wanna Be A Hedge Fund Manager
By bobo on 10/30/2006 9:37 AM
It's all going to hell in a handbasket, but seemingly nobody can figure out why. The Bunny lends a helping hand....and I want some of that easy hedge fund money, damn it...
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Senator Grassley Lays Down The Law
By bobo on 10/29/2006 12:10 PM
In two remarkably succinct letters, Senator Grassley explains why the SEC's veracity is in question....
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SEC's Crummy Record On Parade in WSJ
By bobo on 10/27/2006 3:12 AM
Even as Shelby takes potshots at the GAO for doing the job he abdicated years ago, the SEC's lousy record gets an airing in the WSJ...
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SEC To Be Investigated By GAO
By bobo on 10/26/2006 4:48 AM
The Government Accountability Office is going to be investigating the SEC - a good first step towards a special prosecutor...
Comments (59) More...

More Refco Questions; NY Times Editorial Calls For SEC Investigation
By bobo on 10/25/2006 5:45 AM
Bobo examines some of the latest rhetoric on Refco, and explores how it might well relate to NSS....
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"SEC Cover-Up" Enters Popular Lexicon; Great Article Exposes Systemic Rot; Comment Letter Bombshell; 'lilGW Guilty Dog
By bobo on 10/22/2006 1:32 PM
A ton of significant events this weekend, while I was in the middle of nowhere on a fishing trip...
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Good Help Is So Hard To Find...
By bobo on 10/20/2006 5:52 AM
More Clues as to Why Wall Street Always Gets Hall Passes....And the Bunny hangs out his "open for business" shingle...
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How Big is the Failing To Deliver Problem, And Why Should I Believe You?
By bobo on 10/17/2006 12:27 PM
I got an email yesterday that is much like many emails I've gotten. Rather than writing privately, I thought that this forum would be a good place to offer my views on the scope of the FTD problem once and for all, so that newbies and skeptics can do their homework...
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Letter from the Chicago Board Options Exchange is a hoot...
By bobo on 10/16/2006 10:06 AM
You have never seen such a load of poop in your life. Bobo shows you how to appreciate the nuance in this lengthy bit of Chewbacca fluff...
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New Forbes On NASAA Letter; My Email To Global Links
By bobo on 10/16/2006 5:06 AM
Liz Moyer at Forbes has again scooped the complacent and co-opted NY press corps, by highlighting the controversy arising from NASAA's letter to the SEC, versus the Wall Street establishment's insistence that the world is different than it obviously is to everyone besides Wall Street. And Bobo sends a support email to Global Links, who is suing the DTCC.
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NY Post Article A Tour De Force of Drivel; Naked Short Forum.
By bobo on 10/15/2006 1:43 PM
I'm a connoisseur of drivel these days. My mouth waters at the thought of good drivel. Most drivel is merely workmanlike, but occasionally one receives truly spectacular drivel from unexpected sources. Today was a banner drivel day - The Post is "drivel-licious!"
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NASAA Comment Letter A Masterpiece - Qualifying the Delivery Failure Problem
By bobo on 10/12/2006 9:37 AM
Many of the letters from the industry have been self-interested BS demanding more loopholes, while threatening dire consequences if the gravy train of exemptions ends. The State regulators have crafted a letter that is direct, damning, and descriptive. It is a must read, and should be sent to every elected official.
Comments (68) More...

New Market Reform Petition Now Live
By bobo on 10/10/2006 7:32 AM
A petition has been created to support the NCANS letter, and to demand action of our regulator. It will be sent to Congress once enough signatures have been gathered.
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Richard Sauer, Short Apologist in NY Times, Employed By Rocker Partners/Copper River
By bobo on 10/8/2006 4:33 AM
As I suspected, the seemingly neutral opinion column by former SEC attorney Richard Sauer was more than met the eye...
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Hypocrisy, Thy Name Is NY Times....
By bobo on 10/6/2006 5:41 AM
Ever get the feeling that the media game is so badly rigged that you can't believe anything you read or hear anymore?
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SEC Clears Pequot, Mack, per CNBC
By bobo on 10/5/2006 4:48 AM
To everyone's shock and surprise, the SEC, after firing the lead investigator in the case, has now come to the conclusion that there were no hijinks going on...
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What We Have Heah, Is A Failiuh To Communicate...
By bobo on 10/4/2006 8:37 AM
The latest round of industry comment letters contain some gems in the Chewbacca genre...
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Lying Liars Lie Redux
By bobo on 10/2/2006 11:56 AM
Yet another piece of FOIA data came in from Dave Patch today, and guess what it shows?
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Wikipedia Chronicles - Part Deux
By bobo on 10/1/2006 8:47 AM
The odd and unusual Wiki story gets its latest installment of weird...
Comments (38) More...

What's The Deal With Wikipedia?
By bobo on 9/30/2006 5:23 AM
Someone commented to me in an email about how one-sided the Wikipedia articles are, and how they seem to follow an agenda... UPDATE: NEW INFO ABOUT WIKIPEDIA
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Newsweek has great article on Wall Street rhetorical dishonesty - UPDATE: Global Links Sues DTCC!
By bobo on 9/29/2006 9:30 AM
This won't come as much of a surprise to most of the readers of this blog, however, the Newsweek article echoes my sentiment about what lying liars many on Wall Street are....IMPORTANT UPDATE - GL SUES DTCC
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Bobo Comment Letter Now Up At SEC.Gov
By bobo on 9/28/2006 11:01 AM
The bunny was annoyed at the number of late industry letters, so he fired one off to balance the glut of spin...UDATE - NEW LIZ MOYER MASTERPIECE
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NYSE Wonders Why IPOs Down; Options MM Letter To SEC Confirmation of NCANS Letter's Points
By bobo on 9/27/2006 8:10 AM
Gee. The NYSE can't figure out why nobody with a brain wants to be listed anymore in the US market system. And an options MM inadvertently spills the beans on why they treasure their exemptions.
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Senate Hearing: Insider Trading Insidious and Pervasive.
By bobo on 9/26/2006 6:38 AM
Specter was the only Senator in attendance when the Judiciary Committee held its hearing on insider trading. Apparently the rest of the committee feels that Wall Street shouldn't be the subject of DOJ scrutiny?
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Industry Comment Letters: Don't Cut Into Our Vig
By bobo on 9/25/2006 9:53 AM
The industry fired back some comment letters, and not surprisingly, they completely ignore investor protection and the public interest, in favor of letting the industry behave like drunken sailors on shore leave....
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TheStreet Again Invents Reality, When Actual Reality Sucks
By bobo on 9/25/2006 4:09 AM
TheStreet.com has gone down the road of inventing the truth, when veracity is ugly or contradicts its agenda...UPDATE, 12:30 PM EST - SIA LETTER TO THE SEC
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NY Times Article Stunning Display Of Economic Ignorance
By bobo on 9/22/2006 5:45 AM
Floyd Norris, bless his heart, wrote a lengthy piece about the SEC roundtable discussion on the uptick rule...
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Dolt Alert On Aisle Two. 'lilGW Off Meds, Brownsfield Hitting The Bottle?
By bobo on 9/21/2006 6:45 AM
Drinky drinky, sniffeee sniffeee, tappy tappy? Little of the devil's dandruff to keep your edge gotcha seeing the heebeeee jeebeees? Another priceless gift of doltishness from the dependably dim 'lilGW...
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What's 235% more shares than float between friends?
By bobo on 9/20/2006 1:59 PM
The remarkable saga of what a rip-off Wall Street is continues. Today's installment is a story of a small Delaware company on the OTCBB...where the NOBO list came back to reveal two and a half times more owners than there are genuine shares available to trade...
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Hedge Fund Blowups Highlight Systemic Risk From Risky Bets, Leverage.
By bobo on 9/20/2006 4:48 AM
Amaranth made a bad bet on natural gas. Bye bye money. Bye bye.
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NCANS Comment Letter Submitted to SEC With Almost 1100 Signatures
By bobo on 9/18/2006 9:55 AM
We were able to get the NYSE FTD Data included, due to the elves working late into the night. A big hand for Tommy and Lynn and all the rest.
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New FOIA Data Shows Reg SHO A FAILURE - Conclusively. And Patrick Interview a Knockout.
By bobo on 9/17/2006 10:46 AM
Dave Patch just got in the NYSE daily FTDs from January, 05 to May, 06. And guess what? Things are as bad as ever. Worse, actually. And wild revelation from Dr. Byrne on the radio today.
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SABEW - Censorship and the Art of War; SEC Roundtable Group Grope
By bobo on 9/15/2006 10:33 AM
SABEW, in the highest minded tradition of freedom of speech, hastily removed my comment from their blog. And the SEC's roundtable numbs the mind...
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NCANS Comment Letter Signature Update
By bobo on 9/14/2006 8:41 PM
Progress is being made, and the signatures are piling up.
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