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120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy

Location: Blogs Bob O'Brien's Sanity Check Blog    
Posted by:   bobo 6/7/2006 2:02 PM

We now have about 120 letters in the Wall of Letters section of the Forums, and the NCANS Wall of Letters section.

I want to give a big hand to the folks who took the time to send those letters to their elected officials, as well as to Mhatmccane, who spent long hours uploading them.

And now, I'd like to ask everyone that has sent a letter or an email to an elected official or a regulator, to please visit the Forum, and upload your letter into the Wall of Letters.

If you haven't sent one, please, do your part and fire one or two off to the SEC, or to Shelby, or to Bennett, or Hatch, or your congressman/woman. And upload it to the Wall.

I'd very much like to see hundreds, if not thousands, of these complaint letters posted, so that when this blows up, the powers that be can't claim that they weren't told, or didn't know. Specifically, I'd like to target Chris Cox and Senator Shelby - the head of the Senate Banking Committee - so that when he is asked why he canceled hearings into naked short selling, he can be confronted with the evidence of his complicity in covering-up the problem.

So do your part - you are either part of the problem, or part of the solution.

---------

Ant & Sons had a good piece outlining some of the players in the naked short selling activism game.

It was hardly complete, in that it missed a lot of the important folks who are very visible in this battle - Bud Burrell, Mark Faulk, Dave Patch, Dr. Jim DeCosta, to name a few - but by the same token, offered some welcome visibility to others - Patrick Byrne/OSTK, myself, Rod Young.

The folks at Ant & Son have been arduous followers of the shenanigans on Wall Street, and have been among the more coherent commentators on the naked short selling issue.

Check out the piece, and drop them a line congratulating them on their coverage. Never hurts to get an attaboy.

-----------

Someone pointed out to me that Amazon has a whole bunch of extremely negative reviews posted about this site, all of which declare the information to be loony, and brand the bloggers as crazies, and make the false and misleading statement that the site touts penny stocks. None of which is true.

What is interesting, however, is that they all appear to have been written by the same one or two people - they are eerily similar, and have the same syntax, verbiage, etc.

Why not take a moment out to write a legitimate review to offset some of this stupidity? Someone obviously is very worried that this site is getting a lot of visibility, and has invested some time and effort to denigrate it - which of course has had zero impact on the traffic, which is solidly in the thousands of discreet visitors per day.

Speaking of multi-posting sociopaths, an anonymous posting group has sent me this spreadsheet, which shows the eerily similar reviewers who have given 'lilGW gushing 5-star reviews, and slammed many of the same books. The patterns are fascinating, including the positive reviews of Jim Cramer's book.

Draw your own conclusions, but it sure seems to me that the same obsessive/compulsive freak has been dolling out positive reviews to Gary Weiss under different aliases - sort of the same sort of deal we are experiencing in the negative reviews.

What are the odds that the same pattern shows up with 'lilGW and with negative reviews for this site? What are possible explanations for so many five star reviewers having read, and felt the same way, about the same books, around the same dates? What a small world it must be. Either that, or someone is trying to game the Amazon reviews, and figures nobody will ever cull all the data to look for patterns.

Almost like someone has a financial stake in seeing 'lilGW's screeds sell, and this site get slammed.

In the words of those who assembled the data:

"Note that those who gave Gary 5 star reviews consistently gave other authors (the same ones) one star reviews.

Then, pay attention to the dates the reviews were made. They come in spurts, always focusing on "pumping" Gary's work or "bashing" another author's.

What's more, many of the bashed authors have unique relationships with Gary. One sued him for libel. Another butted heads with him at Business Week. Google reveals tons here.

These patterns are all VERY improbable in a random system."

Golly. That sure seems confusing. Who would write negatively about authors whom 'lilGW dislikes, as well as this site, which 'lilGW either dislikes or is compensated to denigrate - and write glowing 5-star pieces on Gary?

Who could that be, do you think?

 

 
Copyright ©2006 Bob O'Brien
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Comments (36)
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By Jacob on 6/8/2006 7:59 AM
Bob, did you read Garyts latest book WallStreet vs America?

Why don't you reveiw it?

Would like to hear your thoughts.

Jake
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By mhatmccane on 6/8/2006 8:14 AM
Thank you for the kudos - it was really just to keep the ball rolling and capture the thoughts of so many people who took the time and effort to contribute. I did appreciate seeing the letter from Barry Frank to his constituent with a copy of the letter to the SEC. I'd also welcome some feedback on results from letters sent earlier this year. Happy the wall is back.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By mhatmccane on 6/9/2006 8:45 AM
Thank you piddly_sum; thank you Hemingway811. Your additions to the wall should inspire others to join the fray. Many snowflakes will make an avalanche.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By What 'Appened on 6/9/2006 10:27 AM
Bobo-"I spoke with Patrick this morning at length, and his feeling was that if Wall Street felt that this had pissed in their Wheaties, they could look forward to another big shoe dropping sooner rather than later. 10 days or so was mentioned. Two weeks was discussed."........Two weeks have passed...any update?
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By troydian on 6/9/2006 12:33 PM
This audio explains much...... the how, what ,why, who, of this whole ball of wax http://www.theeffectivecitizen.com/audio/911_whistleblower_richard_andrew_grove.mp3
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By piddly_sum on 6/9/2006 12:45 PM
I just learned that Rep Richard Baker (R-LA District 6) who chairs the Capital Markets Subcommittee within Financial Services will move up to replace Oxley as Republican head of the whole comittee in the next Congress. If the Republicans retain the majority in the House then he will be chairman of the Financial Services Committee.

By the way, writing letters is great. Calling the 202 DC number for your Congressman and being friendly works pretty well too. Get to know a member of the staff. Even if your Rep is not on the Financial Services Committee, there still may be an angle for them to get involved if you make them want to help solve the problem. For instance, maybe he or she is on Appropriations, and they can call the SEC to see if they have enough in the budget for enforcement (or is there a different reason the job is not getting done?).
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By mhatmccane on 6/9/2006 4:14 PM
I just posted a very positive response from CA NASAA to my earlier request for a CA law similar to Utah law. Very positive in that "NASAA is examing the matter as well". Possibly letters to other State reps from NASAA may help.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By mig on 6/9/2006 10:42 PM
Books like lilGW's can be used for compensation. Somebody can guarantee so many books sell for favors done. The hype could simply be so this individual or organization doesn't have to buy as many books. It used to be more common for congressmen to write books until it was pointed out that some of these 'authors' would have thousands of books bought by one individual.

just a thought

BTW another thought

The SEC grandfathered all the FTD's that occured before Dec 2004. Don't you think there would be an uproar in congress if the NIS grandfathered all illeagel immigrants before Dec 2005 because it was just too big a problem to deal with?
*** Encouraging News *** By InTheKnow on 6/10/2006 3:23 AM
Yesterday there was a record number of almost 100 news organizations that picked up news about naked short selling including the Vonage investigation.

This is just the beginning!
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By troydian on 6/10/2006 9:00 AM
this has everything to do with explaining NSS a must listen for all who seek THE TRUTH.... http://www.theeffectivecitizen.com/audio/911_whistleblower_richard_andrew_grove.mp3
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By troydian on 6/10/2006 9:00 AM
this has everything to do with explaining NSS a must listen for all who seek THE TRUTH.... http://www.theeffectivecitizen.com/audio/911_whistleblower_richard_andrew_grove.mp3
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By mhatmccane on 6/10/2006 10:39 AM
I posted a response from the CA NASAA on Forums Wall of letters yesterday and was very encouraged to hear that ALL of NASAA is looking at the Utah law and considering it for their States. Perhaps letters to the NASAA State reps by State residents might be helpful in our cause - just a "heads up". TIA for your help.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By Jacob on 6/8/2006 8:50 AM
BTW Bob

If you do reveiw Garys book please use cartoons

Jake
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By bryedge on 6/8/2006 8:56 AM
BobO,
I am not familiar with Amazon's site. Do you have a link you can post?
TIA
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By browntrout on 6/8/2006 9:14 AM
Bobo- Don't be giving any links out to Lil' GW's book. Why you might create a sale by some unsuspecting reader here. Let that pig wallow in his own filth that he has created while he starves.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By piddly_sum on 6/8/2006 9:16 AM
Great job mhatmccane!

Let's get more Santorum letters up. He has the fight of his life to be re-elected in November and both national parties will be throwing quite a bit into the battle.

When you write him, cc your letters to the newspapers such as the Philadelphia Inquirer and any local PA papers (find the appropriate reporter!). After we have a bunch of them up there we can point the newspapers to these letters to illustrate that he is not doing his job.

By the way, not sure if it is the computer I am on, but I cannot see the image for the Barney Frank letters.
Re: Link for bryedge By Cutty on 6/8/2006 9:25 AM


http://www.amazon.com/exec/obidos/tg/detail/-/B000E979NI/102-6265874-2471317?v=glance
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By bobo on 6/8/2006 9:32 AM
Jacob: I haven't read it - I got a copy of his last one for $1 somewhere, and found myself drifting off about 40 pages into it, so I feel no interest in repeating that experience again with his latest. Maybe it is a summer blockbuster, but I'm just not a fan of his writing.

What I've read of the reviews are basically that he touts short sellers as good, which may be true, but seems to me to be a feeble apologist screed for the short sellers whose perspective he invariably touts on his little read blog. There are dozens of used copies folks are trying to unload, so my sense is that this isn't a keeper folks just want to hang on to.

My interest is more in the obvious pattern of manipulation of the reviews of his book by the same IDs, and the slamming of this site - same MO. It is almost like someone is paying to have that done.

Weird, no?
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By piddly_sum on 6/8/2006 9:37 AM
I think a productive tack for letters we can send today to both our federal and state legislators concerns the Utah law.

A. Utah felt it had to take action to protect its industry where the SEC has failed these companies.

B. The law was passed with zero opposition and immediately signed by Governor Huntsman.

C. Companies in my state and in every state deserve this same protection from criminal attack.

D. Opposing such a law can only mean one supports the illicit conduct.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By teacheric on 6/8/2006 10:43 AM
Jacob-Please don't try to get people to read crap from Gary's so-called book. It's bad enough Gary gets any publicity from this site as it is. Just by you asking, it makes me think you are somehow connected to him. Anything to sell one more book, huh? Why would anyone try to help support someone like Gary? Apparently, Gary has enough pumpers of his book from Amazon. Perhaps you're one of them? I might be able to use a copy the next time I find myself at a ski lodge and am sitting next to an empty fireplace.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By mhatmccane on 6/8/2006 11:00 AM
piddly_sum

I didn't write the letter to Santorum, I was just the one who posted it. Regarding Barney Frank letter, this moring, I could not see the image, when I just checked, I could see the image. Basically, Congressman Frank asked Chairman Cox to share his views with Congressman Frank on how the voting rights of the "granfathered" failures could be addressed.
I haven't heard anything further and think it is an issue the SEC completely overlooked. I remembered that was a hot item that came out of the NASAA meeting.
I was happy to see the letter - it is the ONLY response from Congress that I seen where they asked the SEC to address a question. Most of the response from Congress I've seen has been boilerplate.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By piddly_sum on 6/8/2006 11:56 AM
I have seen the Frank letters, but I cannot see them on the website. As you say, they are the best action I have seen out of the Congress and just about everything else is pure boilerplate or refers the constituent to Chairmain Oxley or to a stooge at the SEC or you get a 10 page SHO printout from the SEC website.

If others can't see the letters then lets find a way to make them visible, try a different file format maybe?

I didn't think you wrote the Santorum letter. My point is that members of Senate Banking who are up for election and members and House Fin Services are especially vulneralbe right now. Concentrating some effort on these in particular is a good strategy. Take for example Harold Ford, Jr. who sits on Fin Services and would now like to be a Senator. These people did not do their job so far,why should they be re-hired? If every shareholder of a victim company were to choose one of these idiots to pick on, they probably wouldn't even want to be elected!
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By hemingway811 on 6/8/2006 12:06 PM
I can't view the letter either. There were several others I could not view either.

I just posted my letter to Florida State Senator Jeff Atwater with a cc to Representative Adam Hasner regarding Utah's SB 3004.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By bobo on 6/8/2006 12:43 PM
hemingway:

Could you please post all your prior correspondence in the forum? I recall there were some significant pieces.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By Selene on 6/8/2006 2:13 PM
Bobo

Thanks for doing what you do. A lot of us really appreciate you, big pat, et al...

Selene
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By bryedge on 6/8/2006 2:30 PM
Cutty,
Thanks. You might be able to tell which review was mine. HEEHEEHEE!!!
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By robelita on 6/8/2006 4:26 PM
A historical reminder:

When in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. - That to secure these rights, Governments are instituted among Men, DERIVING THEIR just POWERS FROM THE CONSENT OF THE GOVERNED, - That WHENEVERr ANY FORM OF GOVERNMENT BECOMES DESTRUCTIVE OF THESE ENDS, IT IS THE RIGHT OF THE PEOPLE TO ALTER OR TO ABOLISH IT, AND TO INSTITUTE NEW GOVERNMENT, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to RIGHT THEMSELVES by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their RIGHT, it is their DUTY, to throw off such Government, and to provide new Guards for their future security. - Such has been the patient sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States. To prove this, let Facts be submitted to a candid world.

If you substitute Great Britain with the Federal Government the words of our forefathers seem applicable to modern-day America.

Contemplate this while you barbecue with friends and family this Independence Day.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By Niel Storts on 6/8/2006 6:09 PM
Robelita. Thank you for that reminder of just exactly what our forefather put at risk. Surely words worthy of sacrafices beyond the nomal range of many. Personally I had a conversation with my daughter in which I explained exactly why I would be affronted if she ever applied for membership in the D.A.R. Such is life. There seems to be a strong opinion that writing letters, and such, will suffice. I hope that can be proven right. I doubt that will prove to be the case though. It's an honorable fault of folks on high moral standards that they assume others will be directed , and feel the need to modify their actions, by a similiar set of morals. I doubt it. It's my opinion that we are involved in a war with the scum of the Earth. These people would like nothing better than the total destruction of us for their own enrichment. This is a battle to the death. Failure to realize that everything we have managed to eake out of this world to pass on to our children for the betterment of their life is exactly what these scum are after. It is our duty to stand up and fight for the principles that we hold dear. Everyone ought to carry on this battle in whatever manner that they believe is neccessary. If writing letters does it. Well and good. It's been my experience that the best way to win a knife fight is to bring out the gun. I personally have my doubts that any action will come from the peaceful mode. We shall see. The trial in Marin is close to me. That will tell a tale. Justice must be done. If the powers that be fail to punish the guilty. That might be an fine time to take the apropos action. We shall see.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By bbhindyou on 6/8/2006 6:46 PM
Robelita Lets not forget they were brave enough to write a formal protest signing it and pledging their lives, their fortunes,and their sacred honor to the cause which incidentally many of them ended up all three being sacrificed.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By clearthinker on 6/8/2006 6:55 PM
focus on the grandfathering of fails with the Senators....even they can understand the insanity of that.....
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By Niel Storts on 6/8/2006 7:23 PM
bbhindyou. I believe I did.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By rtway1 on 6/8/2006 9:17 PM
After reading the post from Lambo and GW I am in my opinion convinced they are the same person as well as many other who are on the same board. Same MO same nasty and vile hate, he makes Bin Laden sound like the pope. I honestly beleive their are a number of people running around in his head and sometimes he can,t sort them out and becomes a short circuit so to speak and starts to ignite with hate of a force most people are not accustomed to. He so much reminds me of Napoleon that it is hard to distinguish including being a coward. Thanks to hat and cane great job. Antbody that brings attention to GW or that phony Cramer for their phony books needs their heads examined.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By hemingway811 on 6/9/2006 3:26 AM
Bob,

mhatmccane posted the 4 I sent ncans in Jan. I posted the one yesterday I sent to my Florida Sen. & Rep. regarding Utah's SB 3004. I'll get the rest posted later today, including a recent one to Sen. Bill Nelson.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By piddly_sum on 6/9/2006 6:40 AM
The writer that 60 Minutes interviewed last week said that you can accuse politicians of just about every crime under the sun and it does not seem to faze them. What really gets to them is when you ridicule them. Strange.

I can't tell you much about Edwin Meese, who was one of President Reagan's AGs. Maybe he is nice, maybe he is a mean guy. Maybe he is honest, maybe he is a crook. Never really spent any time figuring it out. He was all wrapped up in a few controversies like Iran Contra though.

But there is one thing I do remember very well about him. It is that as hard as his opponents tried to get rid of him, is was all those "Meese Is A Pig" t-shirts people started wearing around DC that finally caused him to resign. Strange.
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By InTheKnow on 6/9/2006 7:30 AM
Awaiting your Vonage blog. The scandal to crack the naked shorters!
Re: 120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy By hemingway811 on 6/9/2006 8:33 AM
InTheKnow,

Dave Patch's latest blog entry is about Vonage and it's a very good piece.

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