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This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting...

Location: Blogs Bob O'Brien's Sanity Check Blog    
Posted by:   bobo 11/8/2006 5:42 PM

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Sign the Market Reform Petition Now! View it here.

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SABEW, that august and self-important body of "business journalists" whose membership reads like a hedge fund's pet lackey Rolodex, has taken umbrage to this blog posting some of the testimony and discussion from their meeting.

It seems that journalism is fine, as long as the laser-like light of exposure isn't directed at journalists themselves. They don't much like that.

This blog is described in their latest piece as, "Anti-Journalist." Something that confused my few journalist friends - how can I be civil and actually admiring of people like Liz Moyer of Forbes, and Judith Burnes of AP, and the fine folks at Bloomberg, and several West Coast publications, and Time Magazine, and even have had lunch with the senior editorial staff at Forbes, and yet be so, "Anti-journalist?"

Apparently, if you point out the hypocrisy and double standards of the quislings in the NY press corps, who are so busy sucking up to rich Wall Street powerhouses with plenty of that rarefied "juice" even the SEC is in awe of, then you are anti-journalist.

That's kind of the same logic that, if you are against illegal market manipulation and fraud, has you as, "anti-short selling."

It is wildly impossible to me that the folks chartered with filtering facts and cutting to the essence of the news are so embarrassed when their statements about using their power and legal clout to silence critics are broadcast for all to hear. Why be so secretive about using removable media to better obstruct justice, or using your large paper's legal team to bully bloggers who are exposing your deceit? It's almost like televangelists or congressmen getting all huffy when their drug binges and pedophilia are exposed to the world.

Why not state the case accurately: this site cores dishonest journalists a new one, and rightfully so. The dishonest ones don't like that. Some of them are apparently quite high in the pecking order at SABEW, thus they are attempting to brand the site as, "Anti-journalist" so as to diminish the message's credibility.

Standard procedure. They did it to Ed Gray in the S&L scandal. Milken tried it for all he was worth when he was caught red handed. All crooks mount propaganda campaigns to tar and feather those exposing them - it's just what crooks do. It surprises me not one iota that some of SABEW's whining rank and file object to their legal bullying strategies and their obstructive techniques being aired for the world to know. I have no doubt they would silence any voices of opposition if it was in their power.

But it isn't. And they are on the record as being big fans of  bullying and censorship. Their hypocrisy is out there for them to rebut (they can't, preferring to ignore it and pretend they didn't say what I have them on tape saying) and it drives them bug-eyed.

Speaking of bug-eyed, I just got an email from someone that reported that Herb's latest jabbering is once again all about how the evil pretexters were taking his phone records; even as he slings innuendo and baseless allegations with typical vigor. I note that SABEW censored my blog comments about one of their group having confidential bank and phone records for NCANS, and I was highly amused that Herb can try to stoke such righteous indignation over his scenario, but has been silent about NCANS's rights being violated in a more egregious fashion than his.

I started this column discussing hypocrisy, and intellectual dishonesty. Seems fitting to end it on that note as well. Perhaps you can go over and share your thoughts with him - not that it will do any good.

This is the guy who has been wrong about NFI for 4 full years, and is still slandering them as though by repetition his nonsense will accumulate gravitas.

Not quite.
Copyright ©2006 Bob O'Brien
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Comments (41)
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By muckraking on 11/8/2006 6:43 PM
Google muckraking.

The earliest journalists were seekers of truth and justice, a counterweight to the tendency of the banksters to screw the rest of us.

Over time, journalism became about selling advertising.

Pick up your local newspaper. There's a wheels section to sell car ads, an entertainment section to sell theater ads, a homes section to sell real estate ads, a business section to sell investment ads and a big block of classifieds.

You're left with a couple sections of news. Half that news is pre-packaged stories from PR companies. Most of the remainder are stories from the wire service who may or may not be compensated for their content.

With no checks and balances, this tendency has gotten worse and worse until scum like Greenberg think it perfectly normal for a hedge fund to buy a block of subscriptions to his pay newsletter (which they dump in the garbage without reading them) in exchange for stories that make them money.

The corruption of the media has gone on for so long that they don't see it any more. They are blind to muckraking.

When Bobo et al muckrake, the public sees it and they swarm. The blogs are pure, raw journalism. With no profit motive, the blogs become a market place of ideas that compete for readers' brains.

The quality of the journalism dwarfs anything in print and as the print guys go broke and can't figure out why, they form organizations where they can wallow in self pity and wave their arms at the future of journalism.
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By muckraking on 11/8/2006 6:50 PM
The number one concern in the CNN exit polls was corruption.

"The exit polls showed that 42 percent of voters called corruption an extremely important issue in their choices at the polls, followed by terrorism at 40 percent, the economy at 39 percent and the war in Iraq at 37 percent."

The scum don't get it as they party together, play cards together and whine together in their self-important little clubs.

Cheating and stealing doesn't make you smarter than Joe Sixpack. Most Americans are sick and tired of thieves and liars and want the integrity of the blogs.

I've seen numerous retractions in this blog where errors are quickly corrected. That's something you never see in the mainstream press.

Has Greenberg et al ever published something to the effect that "It turns out I was wrong when I said there was no such thing as naked shorting. A minimum of $6 billion in property was not delivered to the property owners. The company the chairman of the SEC ran is responsible for $1.7 billion in property the public paid for, but never received. I should have noted that to my readers when Donaldson was reluctant to tackle the issue."

Their world of lies for money and self importance has become so ingrained, that I don't think they are capable of understanding how out of touch they are with the people who pay their bills.

We are the ones that buy their newspapers and magazines that pay their salaries and we are the ones that can cut off that money flow.
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By flemming on 11/9/2006 12:36 PM
You've probably already read this article, but the comments are interesting.

http://ming.tv/flemming2.php/__show_article/_a000010-000923.htm
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By RMR on 11/9/2006 12:54 PM
FOR THE RECORD, CHRIS DODD WAS PRINCIPLE PROTECTOR OF ACCOUNTING FIRMS AND RESPONSIBLE FOR OVERRIDING A CLINTON VETO OF A BILL THAT WOULD HAVE IMPOSED HIGHER ETHICAL STANDARDS ON ACCOUNTANTS.

Thursday, July 25, 2002 12:18 p.m. EDT
http://newsmax.com/showinsidecover.shtml?a=2002/7/25/112452
Ex-president Bill Clinton was flat-out wrong on Wednesday when he blamed Republicans for blocking his attempts to implement corporate reforms that might have prevented the recent stock market slide, his former top political adviser Dick Morris tells NewsMax.com exclusively.

While touring the site of his presidential library in Little Rock, Ark., Clinton told the New York Times, “Arthur Levitt, my Securities and Exchange commissioner, tried to stop the Enron accounting issues - using the same accounting company being consultant and accountant - and the Republicans stopped it.” Later Clinton argued that since Republicans had fought Levitt’s effort, they deserved the blame. “[Bush SEC Commissioner] Harvey Pitt was the leader trying to stop us from ending those kind of abuses,” he complained. “That is a matter of record.”
But ex-Clinton adviser Dick Morris reveals that the former First Prevaricator is up to his old tricks again. “This attempt by Clinton to blame the Republicans for the override of his veto of the securities bill is totally phony,” he told NewsMax Thursday. “It was Democratic Senator and Democratic National Committee Chairman Chris Dodd of Connecticut who led the effort to override Clinton’s veto.”
In fact, said Morris, without Dodd’s efforts to round up Democratic support for the bill, Clinton’s veto would have been sustained.
The former White House political adviser said the legislation Clinton vetoed proposed sheltering accountants and other professionals from lawsuits for corporate fraud.
Morris said the bill “created a ‘safe harbor’ where over-estimates of future profitability would not be grounds for lawsuits by stockholders, provided certain boiler plate language was added.” Under the law passed by Dodd and his fellow Democrats, “accountants and other professionals like lawyers could only be assessed for their ‘proportionate liability for the fraud’ rather than ‘jointly and severally’ held liable for the entire fraud,” he said.
“The effect was to shelter firms like Arthur Andersen from liability for the entire Enron scandal and to limit the firm’s liability to just a portion of the fraud [leaving investors without recourse because Enron is bankrupt],” Morris explained.
“Arthur Andersen bought Dodd’s support [and that of Republican Phil Gramm of Texas] by making them the two largest recipients of Andersen and accounting industry campaign contributions in the U.S. Senate,” the former White House insider said. “Dodd paid back that support by the override of Clinton’s veto.”
Newspaper reports at the time back up Morris’ account in spades.
“Dodd Gets Senate to Override Veto of Securities Reform Bill” was the headline of the December 1995 Hartford Courant story detailing Democrat efforts to shield the corporate buccaneers. “The Senate voted 68-30 Friday to override a President Clinton veto for the first time in his three-year-old presidency,” the paper said, “with old Clinton friend and Democratic Party Chairman Christopher J. Dodd leading the charge. As a result, consumers will find many changes in how they can legally confront and seek restitution from unscrupulous securities firms.”


The Courant even quoted Dodd taking credit for loosening the regulations Clinton wanted to keep in place. “I have great respect for the president of the United States,” he said at the time. “And I know that when he calls people, it can be very persuasive, but I called everybody too.”
In fact, Morris himself detailed Dodd’s role in blocking the reforms in his own New York Post column earlier this year.
“Dodd’s connections with Arthur Andersen and his vigorous efforts on their behalf are proving a bit of an embarrassment to Democrats bent on pinning the Enron Scandal on Bush and the Republicans,” he wrote.In a separate transaction, Clinton SEC Chairman Levitt was considering issuing a ruling prohibiting auditing firms from providing consulting or other accounting services to companies they audited, Morris told NewsMax.
“But Dodd led a group of Senators who pressured Levitt into not issuing such a ruling during Clinton’s second term,” the ex-White House insider said.
Again the record backs Morris up, with the Washington Post reporting in Oct. 2000 that that “a handful of influential members (of Congress) including Senators Phil Gramm (R-Tex), Senator Chris Dodd (D-Ct) and Congressman W.J. ‘Billy’ Tauzin (R-La) began acting as intermediaries to push both sides to reach a compromise” on the Levitt proposal.
The compromise killed the accounting reform plan, Morris said.
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By Busting the naked shorts on 11/9/2006 6:23 PM
A stock to watch that is in merger talks with Cryptometrics, a private company looking to go public, is JAGH. JAGH within the last 2 weeks went form the Pink Sheets to OCTBB. Is something happening? A filing is due shortly.

The naked shorts are estimated to be between 150 million and 300 million and the stock has approximatley 40 million outstanding shares. Take a look at the chart.
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By Honkytonker on 11/10/2006 5:48 AM
Aren't many, many hedge funds based in Connecticut? Dodd has most likely been bought and paid for. I expect a more polished version of Shelby. Sigh.
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By The Players on 11/10/2006 8:26 AM
Some of the players may have changed but the game remains the same; fleece Mom and Pop.
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By hackers, do you know who you F___! with? on 11/10/2006 8:53 AM
The criminal complaint filed Wednesday by the Southern District of New York U.S. Attorney's Office charged that Michael Lair had approached New York lawyers working on two high-profile cases and received more than $80,000 to provide information he ultimately failed to produce.
Lair, 46, is the president of Bozeman, Mont.-based consumerdefense.com Inc., a company that claims to investigate consumer complaints and conduct research in connection with fraud cases.


http://www.investorvillage.com/smbd.asp?mb=3532&mn=2305&pt=msg&mid=802088
hmmm, don't even know where to begin about this: By piddly_sum on 11/10/2006 3:32 PM
SEC Sees Single Regulator In 2007

Creation of a single self-regulatory organization to oversee U.S. brokerage firms and brokers is well under way and the new entity could be launched as early as next year, industry regulators said.

“We all realize how important this is, and the time to act is now,” Securities and Exchange Commission Chairman Christopher Cox said at a meeting of the Securities Industry and Financial Markets Association in Boca Raton, Fla. Cox said the SEC strongly supports the push to replace a system of multiple self-regulatory organizations with a single “market-neutral” entity.

The New York Stock Exchange and NASD, formerly the National Association of Securities Dealers, have been exploring ways to combine oversight of the brokerage industry. Cox told reporters those discussions are very far along and that he sees “no reason” why a new self-regulatory body shouldn’t be up and running within a year.
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By The Irrelevant SEC on 11/10/2006 4:13 PM
The Irrelevant SEC
Edward Siedle, 11.27.06, 12:00 AM ET

In bed with the industry it's supposed to regulate, it needs a shakeup. the
senate finance committee and the Government Accountability Office are both
taking a harsh look at the Securities & Exchange Commission. It's about
time. One thing on the agenda is the SEC's questionable handling of an
insider trading case involving a $7 billion hedge fund. But the bigger issue
is that the federal agency charged with safeguarding investors is on the
verge of becoming irrelevant. If you want protection from investment
pitfalls, you're going to get it from the private sector.

Here's what's wrong with the SEC.

Political pressures Look who gets chosen for the important job of SEC
commissioner. Not those with established records for fighting on behalf of
investors. Rather, the post routinely goes to insiders, especially those who
have devoted their careers to representing financial services firms. Former
SEC chairman William Donaldson, cofounder of investment bank Donaldson,
Lufkin & Jenrette, is one prominent example. Below the commissioner level,
directors of divisions within the agency, such as market regulation and
investment management, are also chosen according to how chummy they are with
Wall Street's big guys.

The speed with which SEC managers find comfortable quarters within the
industry after their period of government service is powerful evidence of
how seldom these professionals seriously oppose the institutions they are
supposed to regulate. Paul Roye, for example, worked as a lawyer
representing the fund business before becoming its chief overseer at the
SEC. Meanwhile, one of his former law firm superiors, Paul Haaga, became the
industry's chief lobbyist. After the fund business stumbled into the biggest
scandal in its history under this duo a few years ago, Roye rejoined Haaga
at mutual fund giant Capital Research.

Reliance on self-regulation The commission is ever more willing to allow the
brokerage industry to self-insure, self-adjudicate (through mandatory
arbitration) and even control public access to the brokerage industry's
criminal and disciplinary histories. Self-regulation involves an
insurmountable conflict of interest and results in thousands of instances of
avoidable fraud each year.

One almost laughable example of lame self-regulation: the BrokerCheck
Program, run by the National Association of Securities Dealers, the
brokerage industry's self-regulator. The NASD says it "should be your first
resource to learn about the professional background, registration/license
statuses and conduct of NASD-registered firms and their registered brokers."
Would you believe that the program does not permit a broker or firm to
respond "yes" to the question of whether the broker or firm has any
disciplinary matters in his or its past? Only two answers are permitted:
"no" and, get this, "maybe." That's what we call industry-friendly. For all
of $5,000, I put together a disciplinary database a few years ago that
showed the NASD underreports brokerage industry misbehavior by about 85%.
Since the NASD blocked me in court from publishing it, investors remain
perilously uninformed.

Transparency The SEC has allowed the financial industry to control the
content and timeliness of disclosures to the public. For example, most of
the SEC's money manager investigations uncover "deficiencies," some of them
involving serious misbehavior. But the commission refuses to make its
findings available.

Follow-through In May 2005 the SEC staff issued a report on conflicts of
interest in the pension consulting industry. The staff concluded that the
industry was subject to rampant conflicts and disclosure was abysmal. Were
pension sponsors who may have suffered harm ever privy to the financial
information the pension consulting industry provided to the SEC? Nope.
Instead the SEC issued a vague warning to pension sponsors to more carefully
scrutinize the investment consultants they hire.

This agency spends $888 million a year. If it were subject to disclosure
laws the SEC would have to admit it could get a lot more bang for taxpayers'
buck were it not so compromised by conflict of interest.


Edward Siedle, a former SEC Attorney and the President of Benchmark
Financial Services.
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By smoking gun on 11/10/2006 6:55 PM
I may have come across the smoking gun. They have a sample report from 2000 and it seems reasonable to assume that the numbers are real. Does anyone have a friend in the industry that can buy the current report for $1200?

http://www.sia.com/research/pdf/dbug.pdf

From 2000, pg. 3:

Failed to deliver: $15 billion
Failed to receive: $17 billion
Total: $32 billion

So it was $32 billion in 2000 and only $6 billion now? Yah, right.

They think we are dumb, but we WILL figure it out and they better fix it before we
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By InTheKnow on 11/11/2006 5:04 AM
Wednesday, December 6, 2006
STA QUARTERLY MEETING
All members and interested parties are warmly invited and strongly urged to
attend the Association's December 6th Quarterly Meeting. Updates of important
industry issues of general interest to all transfer agents are on the agenda:
 STA UPDATE
Charles Rossi, President, STA
 SHORT, FAILS AND LOANS: THE TRIUMVIRATE OF TROUBLE
Susanne Trimbath, Chief Economist for STP Advisory Services LLC, will
address these topics of ongoing interest. Dr. Trimbath is a noted author
and speaker whose comments on economic and finance issues appear
frequently in the media. Don't miss this opportunity to hear Dr. Trimbath's
conclusions about the adverse effects generated by phantom shares on
share prices, dividend payments and the proxy voting process.
Your attendance and active participation are most welcome. Please make plans
to join us. The luncheon meeting will commence at 12:00 pm at the following
location:
BAYARD'S
1 Hanover Square
New York, New York
The registration price is $70.00 per person. If three (3) or more are attending
from the same company the cost is $60.00 per person. This includes an excellent
luncheon. This meeting affords you the opportunity to network with other industry
professionals and to discuss these and other issues affecting your business.
Please mail your reservation promptly on the enclosed form, accompanied by
your remittance payable to: The Securities Transfer Association, Inc. You may
also register on-line with a credit card at www.stai.org
We are expecting a good turnout for the meeting. All members and their
colleagues are urged to attend and participate in the discussion about these
timely topics. If you require additional information, please contact Carol Gaffney
at the STA Office (732) 888-6040.
Sincerely,
Charles V. Rossi
President
CHARLES V. ROSSI, President
THE SECURITIES TRANSFER ASSOCIATION, INC.
ATTN: CAROL A. GAFFNEY, Administrator
P.O. BOX 5220
HAZLET, NEW JERSEY 07730-5067
Phone: 732-888-6040 Fax: 732-888-2121
Email: cgaffney@stai.org
STA QUARTERLY MEETING
PLEASE ENTER THE FOLLOWING RESERVATION FOR THE LUNCHEON MEETING TO BE
HELD AT 12:00 P.M. ON WEDNESDAY, DECEMBER 6, 2006 AT BAYARD'S, 1 HANOVER
SQUARE, NEW YORK, NEW YORK AS INDICATED BELOW:
Company:___________________________________________________________
Address:____________________________________________________________
___________________________________________________________________
Phone:_____________________________________________________________
Email:______________________________________________________________
A CHECK PAYABLE TO THE SECURITIES TRANSFER ASSOCIATION, INC. IS ENCLOSED
AMOUNT OF CHECK $___________________________ @ $70.00 PER PERSON
$60.00 PER PERSON IF THREE (3) OR MORE ARE ATTENDING FROM THE SAME
COMPANY. THERE IS NO CHARGE FOR HONORARY MEMBERS.
Please print the names of registrants:
1.__________________________________________________________________________________
2.__________________________________________________________________________________
3.__________________________________________________________________________________
4.__________________________________________________________________________________
5.__________________________________________________________________________________
YOUR EARLY RESPONSE ACCOMPANIED BY YOUR CHECK IS GREATLY APPRECIATED.
PLEASE NOTE - YOU SHOULD BE REGISTERED by NOVEMBER 30, 2006
You may also register on-line with a credit card at www.stai.org
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By SmokingGunandaHalf on 11/11/2006 8:45 AM
Data from Q2 06

Failed to Deliver: $28 billion
Failed to Receive: $35 billion
Total: $63 billion or ten times what the DTCC says

http://72.14.253.104/search?q=cache:NDV4o0X89kYJ:www.sia.com/research/other/NYSEFirmsTotals.xls+www.sia.com/research/other/&hl=en&gl=ca&ct=clnk&cd=4
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By SmokingGunandaHalf on 11/11/2006 8:47 AM
Sorry, the link was cut off. Try this one.

http://www.sia.com/research/other/NYSEFirmsTotals.xls

Same link broken into lines.

http://72.14.253.104/search?q=cache:NDV4o0X89kYJ:www.sia.com/research/other/
NYSEFirmsTotals.xls+www.sia.com/research/other/
&hl=en&gl=ca&ct=clnk&cd=4
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By Bastards on 11/11/2006 11:28 AM
Today is a day that all the scumbags in the SEC and the US Congress can hang their heads in shame for all the soldiers that lost their lives so these scumbags can rob everyone blind.

Go to hell all of you bastards!
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By Do companies need to hire lobbyist to run the comp on 11/11/2006 4:26 PM
How does that gig work. You sue a company then they hire a lobbyist to cover your asses? Interesting.

http://www.opensecrets.org/lobbyists/firmlbs.asp?txtname=JC+Watts+Companies&year=2005
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By oldfeller on 11/11/2006 11:19 PM

The dog`s tail now outwieghs the dog. I`ve seen dogs chew thier own tail nearly off. Veterans day today, and we don`t have to look offshore for an enemy. Where are the good guys in our government? STAND UP AND BE COUNTED OR DON`T EXPECT THE SUPPORT OF WE THE PEOPLE. The theft has gone on long enough.
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By muckraker on 11/8/2006 7:01 PM
They are peeved that the market of ideas the blogs offer have allowed the truth to bubble to the top.

The host is ready to shed the parasites that have been sucking our blood and the parasites know that if they have to find their own blood / work for a living, they will die.

http://en.wikipedia.org/wiki/Muckraker
http://en.wikipedia.org/wiki/Freedom_of_the_press

"Let it be impressed upon your minds, let it be instilled into your children, that the liberty of the press is the palladium of all the civil, political, and religious rights."
JUNIUS
English political author, known only by the signature Junius
Wrote various letters to the London Public Advertiser from Jan., 1769, to Jan., 1772


"Freedom of the press is limited to those who own one."
A.J. LIEBLING


"A free press is not a privilege but an organic necessity in a great society. ... A great society is simply a big and complicated urban society."
Walter LIPPMANN
American journalist (1889-1974)

"Freedom of the Press, if it means anything at all, means the freedom to criticize and oppose."
Eric Arthur Blair or George ORWELL
British novelist and essayist (1903-1950)

"It's amazing that the amount of news that happens in the world every day always just exactly fits the newspaper."
Jerry SEINFELD
American comedian and actor (1955-)


"Freedom of the press, or, to be more precise, the benefit of freedom of the press, belongs to everyone - to the citizen as well as the publisher... The crux is not the publisher's 'freedom to print'; it is, rather, the citizen's 'right to know.' "
Arthur Sulzburger
1990
American newspaper publisher

"In order to enjoy the inestimable benefits that the liberty of the press ensures, it is necessary to submit to the inevitable evils that it creates.."
Alexis de TOCQUEVILLE
French politician and writer (1805-1859)
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By muckraker on 11/8/2006 7:07 PM
Anyone who has participated in a debate knows that you have one when the opponent turns to an ad hominem attack.

The facts are all against them and the only thing left is to attack the messenger.

When have we ever seen the NY press rebut our footnoted facts to explain the fallacies in our reasoning? Is it statistically likely that the SEC and DTCC are always right and the blogs are always wrong? Then why do they always take an anti blog or ANTI MUCKRAKING JOURNALIST position?

http://en.wikipedia.org/wiki/Ad_hominem
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By deceive deceive deceive deceive the liars game on 11/8/2006 7:28 PM
Federal regulators on Wednesday filed civil fraud charges against Edward Ehee, the head of three San Francisco-based hedge funds, accusing him of funneling millions of dollars from investors nationwide into his own mortgage payments, vacations and bank accounts.

http://biz.yahoo.com/ap/061108/sec_hedge_fund_head.html?.v=2
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By InTheKnow on 11/8/2006 7:34 PM
What the rags and their cronies have left are innuendeos, slurs, half -truths and downright lies.

What they fail to see is that we can see the corruption and are mad as hell and aren't going to take it anymore. Blogs like this will bury the crooked scumbags whether journalists or government officials. Easy come easy go.
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By neither admitted nor denied makes one puke on 11/8/2006 7:45 PM
NASD has imposed a $200,000 fine against EKN Financial Services Inc. of Woodbury, NY -- along with CEO Anthony Ottimo, President Thomas Giugliano, Head Trader William Baker and Financial and Operations Principal Michael Benvenuto -- for engaging in improper short selling in connection with three unregistered securities offerings, commonly referred to as PIPE (Private Investment in Public Equity) deals, and other violations. As part of the settlement, EKN will be suspended for six months from engaging in any PIPE transactions.

http://biz.yahoo.com/prnews/061102/dcth029.html?.v=75
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By narco on 11/8/2006 8:50 PM
"The Latin American drug cartels have stretched their tentacles much deeper into our lives than most people believe. It's possible they are calling the shots at all levels of government."
- William Colby, former CIA Director, 1995

http://www.totse.com/en/politics/central_intelligence_agency/clinton.html

Naked shorting launders drug and arms money...
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By narco on 11/8/2006 8:52 PM
http://www.google.ca/search?hl=en&q=adnan+khashoggi+mjk&meta=

http://www.google.ca/search?hl=en&q=adnan+khashoggi+arms&meta=
http://www.google.ca/search?hl=en&q=adnan+khashoggi+naked+short&meta=
http://www.google.ca/search?hl=en&q=adnan+khashoggi+naked+money+laundering&meta=
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By rtway1 on 11/8/2006 10:06 PM
Narco,
I think you have the formula. Follow the money and you will see who is the bad guy or girl. You are spot on. My greatest hope is that Herbie inherits three letters of the alphabet. Karma is a great thing.
Election '06 follow-up By robelita on 11/8/2006 10:22 PM
Now might be a good time to address a new Congress-bent on cleaning up corruption-to take a peek at the NSS issue and explain/remind them that the cost of a taxpayer bail-out similar to the S&L crisis would cripple our already fragile economy.

Write your newly-elected representative and put a bug in their ear. Enough letters might finally get the Congressional attention this issue deserves and put the SEC and the DTC on the hot-seat to answer some tough questions.
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By bbhindyou on 11/9/2006 5:08 AM
If the clinton administration could fall due to a indiscretion done by the president for personal gratification outside of proscribed law, then the whole system from the front line regulators to the top boss should be liable for allowing the indiscretion done outside the proscribed law that is financially gratifing to them.
If we looked hard I'm sure there are stained bank accounts in every political warchest that would, like a particular navy dress, hold incriminating traces.
The private sector jobs waiting for our top regulators with the firms making the most money through the use of this indiscretion outside proscribed law that is naked short selling are nothing more than slightly delayed gratification and those receiving those jobs are as guilty of counterfeiting as those who never delivered what was paid for.
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By bbhindyou on 11/9/2006 7:02 AM
Every elected officials campaign fund is full of dirty laundry.
Who can we get to throw the first stone if they all live in glass houses?
The problm they really have is that we have discovered the house is glass and we are beginning to see right through, no matter how much smoke and mirrors they apply.
America has been sold out and we are the ones who have paid and will pay again.
I'm so tired of this.
BUY and hold in CERT form real stocks.
Why else would the holding of stocks in this manor be such a high priorty for the dtcc to eliminate?
We should have a clock with a countdown to when we won't be able to hold our own stock certificate's .
I'm sure the dtcc does.
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By InTheKnow on 11/9/2006 7:20 AM
From Mark Faulk:

" After a Congressional regime, led by Senator Shelby, that allowed the SEC to literally remove integrity and honesty from their own mission statement, those words could not be more welcome, or more appropriate. The apparent frontrunner to replace Shelby as the new Banking Committee Chairman, Senator Chris Dodd from Connnecticut, issued a statement last night that included the commitment to “make America more prosperous by creating the most transparent and vibrant capital markets in the world.” "

A great read:
http://www.faulkingtruth.com/Articles/LettersToEditor/1037.html
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By Scumbags are Out: on 11/9/2006 7:27 AM
Mark Faulk you said it in spades. Good riddance to a scumbag in capital letters.

GOODBYE SHELBY!
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By Welcome Chris Dodd on 11/9/2006 8:20 AM
Welcome Senator Dodd. Now show us you mean what you say. Settle the failed trades. Jail for everyone that covered up the crime. End prolonged settlement failures. Amend SHO now to eliminate the grandfather clause.

Do it....now
guys you need to read this By newspaper on 11/9/2006 8:24 AM
Remember that whole lawsuit- Motley fool- sec investigation -naked short collusion thing???

Read this new one about pgwc it ties it all together perfectly!

http://www.amtdrt.inlumen.com/bin/story?StoryId=Crvk10bKbmZeZyJu0mdK
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By blogging on 11/9/2006 8:47 AM
Bobo, you should list the other commentators on the front page. You can click "Bob's Sanity Check Blog" to get here, but many people don't know they can click on "blogs" to get the other commentators.
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By MoneyMachine on 11/9/2006 8:57 AM
Why don't we use the system against them? We can start our own NCANS hedge fund!

Imagine this scenario:

1. A strong company like NFI starts buying companies that have ridiculous levels of "fails to delivers" for shares. They could probably buy a company like CKMX for $100,000. The pedigree of the company is irrelevant.

2. They pay for the purchase with shares. The company being bought has to dividend shares of the purchaser to their shareholders.

3. There aren't enough shares to go around. The shorts have no choice but to buy shares in the parent. It would either cause a squeeze or it would transfer the billions of shares of fails to the parent.

We can bankrupt the criminals and their scam by taking advantage of their lies.
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By MoneyMachine on 11/9/2006 9:03 AM
I believe this technique would also work on delisted companies. Just because the company is delisted doesn't mean it doesn't have shareholders.

Who gives your brokerage the right to delete a stock out of your account when it is delisted?

Shouldn't you be listed directly on the company's shareholder list? Shouldn't the DTCC have to reconcile the ownership when they stop representing the company?

Why should the counterfeiters get a 100% profit when a company is delisted, but doesn't go bankrupt?
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By InTheKnow on 11/9/2006 9:59 AM
Did you know that the SEC has rules against trying to short squeeze a stock but no rules against these scumbags ripping the heart out of every investor. Scumbags all.
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By a concerned investor on 11/9/2006 10:02 AM
90% of brokerages don't hold your shares. They outsource to clearing brokerages like Donaldson's Pershing or Morgan Stanley.

http://www.morganstanley.com/about/ir/shareholder/morganstanley_dw_inc.pdf

Another clearing brokerage flagrantly ignoring the net capital rule by a billion dollars. The entire SIPC only has a billion dollars to protect investors.

Write your regulators and demand this rule be enforced.

"At May 31, 2006, Morgan Stanley DW Inc.’s Net Capital was $1,209,962, which exceeded the minimum requirement by $1,136,242."


Borrowing

Securities purchased under agreements to resell (“Reverse repurchase agreements”) $ 388,948,000
Securities borrowed $349,426,000

Lending

Securities loaned $ 438,854,000
Brokers, dealers and clearing organizations $ 14,365,000

Total: $1.2 billion



They disclose these dollar values are some what random and based on their judgement of what the shares are worth.

"These techniques may involve a degree of judgment."
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By a concerned investor on 11/9/2006 10:12 AM
The SEC has a net capital rule to protect investors. Over 90% of brokerages keep their assets at third party clearing brokerages and those brokerages are supposed to keep enough money on hand to avoid bankruptcy.

Contact your regulators and demand this rule be enforced.

These guys exceed the rule by almost 100%

http://www.leggmason.com/about/pdf/ConStmntFinCon_9-30-05.pdf

"At October 31, 2005, the Company had net capital, as defined, of $478,134 which exceeded the required net capital by $455,833."
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By FOLLOW THE PAPER TRAIL on 11/9/2006 10:35 AM
follow the paper trail of the sell tickets....it will lead you to the origin of the sales of phantom shares and fails. Trace the tickets....how hard can this be....

Someone must know where the paper trail goes....

Follow the sell tickets....
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By wiki on 11/9/2006 12:16 PM
From Wikipedia.

Section 13(b)(3)(A) of the Securities Exchange Act of 1934, states that "with respect to matters concerning the national security of the United States," the President or the head of an Executive Branch agency may exempt companies from certain critical legal obligations. These obligations include keeping accurate "books, records, and accounts" and maintaining "a system of internal accounting controls sufficient" to ensure the propriety of financial transactions and the preparation of financial statements in compliance with "generally accepted accounting principles."

On May 5, 2006, in a notice in the Federal Register, President Bush delegated authority under this section to John Negroponte, the Director of National Intelligence. Administration officials told Business Week that they believe this is the first time a President has ever delegated the authority to someone outside the Oval Office. [1]
Re: This blog now officially "Anti-Journalist" - and Herb whines like a bitch kitty about pretexting... By wiki on 11/9/2006 12:21 PM
Can we replace mm's?

http://en.wikipedia.org/wiki/CATS_%28trading_system%29

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