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An Open Invitation To The DTCC and to Counsel of Rocker Partners

Location: Blogs Bob O'Brien's Sanity Check Blog    
Posted by:   bobo 2/15/2006 6:55 AM

(Latest Update - 10:30PM EST. No contact has been made, no demand for correction, no denial. I think it is safe to assume that this is fact now. I will be referring to it as such from here on out.)

(UPDATE: DTCC Story now confirmed as true in first article covering the topic.)

I have made a number of claims in this blog over the last few days. If untrue, they are serious misrepresentation.

I do not want to misrepresent anything.

The claims are as follows:

1) The DTCC has been served with subpoenas by the states of Connecticut and Utah.

2) They have rebuffed those subpoenas, refusing to comply with them.

3) The SEC investigation into Gradient/ Rocker Partners has been upgraded into a Formal Investigation, with resultant subpoena power.

4) It is likely that Rocker Partners has been served by now with a subpoena.

I believe these are true, based upon reliable information from two separate disparate sources, one of whom is Patrick Byrne. I have no reason to believe that they were misleading me, or you, the reader.

Still, I don't want to be spreading false rumors. Thus, this is a formal invitation to the fine counsel of both parties to come to the table and immediately correct any content of that data which is incorrect. I know from the weblogs that both the DTCC and Mr. Rocker and his attorneys are big fans of this site, so they can't claim that they don't read it, and didn't read this.

I had hoped that our noble press would confirm these stories and run with them. Apparently any discussion of the DTCC or Mr. Rocker in a negative, if factual, light, is off limits to the NY press corps. This is an odd phenomena. Puzzling. I know that there are reporters out there who report on every nuance of Dr. Byrne's statements, and yet DTCC subpoenas and Formal Investigations into Rocker are top secret?

So here it is again. If anything I have said is factually incorrect, contact me immediately with notice of what is incorrect, and I will revise the content to reflect accurate facts. Please include support for any contentions.

If I do not hear from anyone by close of business today, as I haven't heard from anyone for the last 48 hours, I, and everyone else, will assume that the above 4 statements are correct and true, and will henceforth state them as fact.

So no more smarmy innuendo from lying bloggers (see the previous blog entry for Weiss getting his bottom spanked like a newborn, and exposed for writing false and misleading information about this site) - this is formal notice to put up or shut up.

And to the NY Financial press, shame on all of you. This shows, definitively, how biased and complicit you are with safeguarding Wall Street's secrets, at the expense of the truth. I know many of you read this blog as well, so you can't pretend you don't know about the stories, either.

Tens of thousands of folks also have read this blog, and they do know. You are fooling nobody, but your credibility is damaged to the point of no return.

FYI, I will be publishing a blog this evening which is an astounding story, that underscores why my desire to remain anonymous is a prudent one - this story just keeps getting weirder and weirder, and it underscores that those reporters who have written exposes speculating as to my identity are exposing me to very real harm. Their actions, once you read this, will also be a further indictment as to how low some of these characters are willing to stoop.

So the challenge is now public, and visible. Please spread the word on the message boards, and other blogs - it is put up or shut up time. See everyone this evening.
Copyright ©2006 Bob O'Brien
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Comments (19)
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By Chasity on 2/15/2006 7:37 AM
Why would anyone respond to someone who uses a fake name? Try using your real name and maybe someone would confirm if what you say is true or not.
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By bobo on 2/15/2006 7:43 AM
Fair question. The reason they would respond is because this blog is read by many thousands, who are by now seeing my statements as being correct and true. FWIW, I just got an email from a publication that they have confirmed the DTCC story as true. So that is two of the four confirmed as correct - expect to see something shortly.

And don't forget where you saw it first.

Face it - the "You use a pseudonym" crap is tired. Like it or not, I have a large and growing audience, and if these statements stand, they will have the weight of fact. Now, you can pretend that doesn't matter, but your side takes a huge hit when it gets out that I broke two stories days before the financial press would touch them - stories I handed them on a silver platter.

So again, put up or shut up. There is no third choice here. Either I am libeling these fine folks, and need to correct my statements (as I have no interest in libeling anyone) or I am telling the truth, reporting fact.

I say I am reporting fact.
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By Marion Polk on 2/15/2006 8:14 AM
The Schumer-Shelby "tag team" that controls political funding to many US Senators, and is in turn funded by the Wall Street/Criminal Hedge Fund/International Bank alliance would NEVER allow the NY press to publish anything that threatened their rip-off of the investing public, and the US taxpayers, who ultimately absorb a significant share of the market losses inflicted by this conspiracy.
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By Craig cunningham on 2/15/2006 8:15 AM
Chastity,
What is your real name? Phone number? Address?

What difference would it make if Bob was DB Cooper or just a regular guy on the street? Would the Subpeona's be any less true?

How exactly would Bob using his real name add or subtract to the veracity and truth of his statements?

Everyone has different ways of ensuring their own personal security:

Bob chooses to remain anonymous.

I use my real name, BUT I have guns. Lots of guns.




Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By stormchaser on 2/15/2006 8:23 AM
You've got to be kidding...use his real name.if he did that he would end up in a piling on the west side...the amount of money that has been pilifered by the very regulatory agencies that have been sworn to protect the American people is staggering...how can the SEC allow the DTC to have on its Board of Directors the heads of the major brokerage firms...who own the market makers...that are commiting flagrant fraud each and every day....THE FOX IS IN CHARGE OF THE HEN HOUSE.....
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By bobo on 2/15/2006 8:27 AM
Storm: You are closer to the truth than you realize. See my blog tonight for an example. That is why when guys like Roddy do the expose thing, they are playing with my life, whether or not they believe it. It's low, and shitty, and dangerous. I know all sorts of very damaging stuff about a number of the reporters who have been in this, and I don't publish it. But the next time I see one of these pieces, the gloves are off, and it will get real world ugly - I'll print stuff they had no idea anyone knew.

On another note, here is yet further proof that there is a full time gang working at misdirection on the Yahoo boards. Whether Weiss is actively dishonest or just dumb as a plank is debatable, but he has been given proof to show his story is a lie, and ignores it, and further is censoring the truth lest he be exposed. Too late, Gary:
---------------
Re: 5 AM Wed has come and gone and NO
by: bodinnick9271972 (51/M/Texas) 02/15/06 11:13 am
Msg: 401401 of 401401

"As for your phony "formal investigation" crapola, you got called on a lie. Face it. You just made up about that "formal investigation" and a supposed email exchange that one of your multiple identities had with the TSCM reporter doesn't mean a thing."
---------------------------------------------


Uh, That "multiple identity" guy would be me. I would be happy to provide you with my name and phone number for you to call me and confirm the enail exchange wherein thestreet.com reporter acknowleged he was not aware of a formal investigation by the SEC on 2-7-06 when he wrote the article.

You see, I thought it was strange that if thestreet.com reporter was aware of the formal investigation, why he did not report same in his article. Took me about 5 minutes to clear it up. I would have thought Weiss, whose job is to investigate stuff would have confirmed the most basic element in his post.

I tried to post on Weiss's blog this information but for some reason he didn't see fit to print it. Can you ask Weiss why an attempt to correct his assertion was ignored?

And while you are at it, perhaps you can ask him why Tony Ryals loon posts are not censored.

Where would you like me to email you my contact information?
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By InTheKnow on 2/15/2006 11:01 AM
Does anyone here remember Deep Throat during the Nixon era? Enough said!
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By WickedWorld on 2/15/2006 11:01 AM
Bob has correctly predicted way too many BIG things for his identity to matter much to me. Knowing his name shouldn't cause one to take more seriously what he's been saying let alone been right about. More important is for him to be proven accurate and reliable, not identified.

At this point, you who attempt to go down the "what's Bob's real name" road look scared. Why would that be?

Bob, please remain anonymous.
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By rtway1 on 2/15/2006 10:10 AM
Gosh, it is awful quiet around town. Must be everyone is listening to the new fed chairmen instead of answereing a challenge that any paid off slime ball would jump on. What a sad lot of cowards who love to steal and screw man, woman, and child. These people bring this country down to a level that is equivalent of the nations that threaten our freedoms, and do it with no moral guilt whatsoever.It is sad when Americans have to beg for representation from our justice system when we are being robbed. Even sadder when the media has a real story, they would rather cover a hollywood threesome falling apart.
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By Jeff Mitchell on 2/15/2006 11:12 AM
I just got off the phone with Ralph Lambiase (I live in CT). I found him passionate about the naked shorting issue but also cordial in that he offered to call me back (after talking for ten minutes or so) since he had to attend a meeting. His direct reply to the subpoena issue was that he is not at liberty to discuss such things. I made the assumption that any subpoenas would have been issued in conjunction with a lawsuit and so asked if there were any lawsuits; there were not. But Ralph quickly set me straight that his office has subpoena power for investigations-- that lawsuits were not necessary. So the short answer to this question is that, by definition, CT will not confirm or deny such things.

I will pause here to say that asking someone to disprove something is intellectually stupid. For example, I've been told space aliens have taken over the bodies of key Congressmen. Unless someone can prove me wrong by 4pm I will assume it as fact. OK, maybe a bad example, but you get the point.

I also floated the idea by Ralph (which I've also floated by "Bobo" and Gary Weiss) that I would love to help organize a conference on this whole naked shorting issue and get it resolved once and for all. My personal opinion is that this whole anti-naked shorting issue only serves to obscure the problem of penny stock fraud and, worse, give these fraudsters a ready-made excuse, thus making their task easier. I also think many of you reading this, including Bobo, are so one-sided (if you are not 100% for us you are against us) that you, and rightly so, get zero respect from the financial press. Believe me, being marginalized as conspiracy theorist nutcases is not a badge of honor.

Thankfully for your "cause" there are just enough others out there, Ralph being one of them, that make even me think there's really some there there, albeit nothing close to what you all envision. Could I be wrong? I guess. But that's not why I'm writing this message. I'm writing this to say I'm willing to arrange a forum where both sides could be discussed. The more this drags on, the worse for everyone.

As for the particulars, I envision a much larger context. I'd love to have variety of seminars on other issues of interest-- everything from how to read a chart to how a market maker does his job. I envision a two-day affair that would have a price point of $1000 for one day and $1500 for the entire event. I'm also freely admitting that I'm not doing this to be charitable. For better or worse I think I have enough contacts in the industry to make this even work, so I have no qualms about being compensated for my efforts.

The event would likely be held here in CT several months from now, and probably at the Mohegan Sun casino. Just to be clear, I have no intention of censoring any point of view no matter how much I may not agree with it. In fact, if you guys like the idea, I'll be happy to invite whoever you think would best represent your side of things. I'd be happy to organize any side forums of interest.

Thoughts?
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By nowiggleroom on 2/15/2006 12:15 PM
Jeff Mitchell -

I agree on your point about the disproval of theory - and timeframe - but I think your missing Bob's point here. He doesn't want to spread lies or rumor, so he is asking for confirmation, quite frankly, without beating around the bush. I think that fact will present itself in one form or another. "The truth is out there".

As far as mohegan sun trips to casinos - there are alot of these trader workshops already available. What would your's offer that we cannot already get some place else? Is a casino really the right place? After all - Investing is not gambling in theory - but the theme of a Casino represents just that - which may have a negative effect on your idea? Well let's not clog the blog with off-topic stuff. If your going to promote - give us a link to monitor. FWIW. nwr.
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By CC on 2/15/2006 12:16 PM
Naked shorting isn't interesting at all. Let's not waste any more time on this and simply let the sec do it's job and publish the numbers. Simple
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By InTheKnow on 2/15/2006 12:17 PM
Jeff,
Hello! There was a conference. Called the NASAA forum whcih was attended by all except the DTCC who declined to attend. Look it up! All the miutes are available. Roddy Boyd was in attendance and uttered not one word about it.

Sure your going to get it resolved once and for all! Go put your head back in the sand!

Explain one thing to me before you do! Jag Media (JAGH) a fully reporting company as clean a whistle, is banned from purchase by a multitude of brokerage houses. How come? Could it be the estimated 100-300 million naked shorts and only a 42 million share float. No one, mark me no one has ever heard of such a ban to a stock.
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By mhelburn on 2/15/2006 12:18 PM
Jeff,

How do you explain Regulation SHO and the grandfathering of fails to deliver? How do you align that with the Securities Act of 1934? How do you feel about 550185 fails to deliver of OSTK on Aug 1, 2005? Why does it take months for stock to be delivered? Attend a conference to hash this out when all we really need is some transparency. We won't get transparency by talking about it in CT.
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By mhelburn on 2/15/2006 12:19 PM
Proving a negative would be easy for Rocker if that is what is true. If he has not been served a subpoena, it would be the simplest thing in the world to call Bob a liar. He was ready to sue him when the OSTK suit was filed. Don't you think that he would delight in making Bob look wrong.... if he could?

The truth is the truth and and some of us don't need to have it written in marks-a-lots to get the full picture.

So you think it is ok to naked short penny-stocks although you are taking the money from innocent investors? That makes you no better than the scam promoters. Either you play the game according to the rules, or you are a cheat. No middle ground. You are either going to obey the law or be criminal. Check out the fines for the blue sheet violations. That is a shot across the bow.
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By bobo on 2/15/2006 12:12 PM
Jeff:

I'm not asking for anyone to disprove a negative. I agree that is dumb. I am stating something very straightforward, that the DTCC's attorneys would be all over in a New York second if it was incorrect. There has been no contact, and no request for a retraction. That speaks volumes. Their job is to make sure they are not libeled, nor that false or misleading info is disseminated. They are no doubt very good at what they do. So far, no contact. Ditto for counsel for Mr. Rocker.

I think you misunderstand the level of readership this blog experiences. It is large. Whether or not a financial brotherhood of journalists decides to to brand me a nut or not has no relevance for me. None. Just don't care.

I don't like penny stock fraud. I don't like fraud, period. Seems like a pretty easy stance to take - fraud, bad.

Illegal naked short selling is fraud. I don't like that kind of fraud either. I've said all along that the size of the problem is knowable, and in fact known - no debate is necessary. The DTCC knows exactly how much fraud there is, to a dime. They just aren't talking, and neither is the SEC. That is what drives this "opinion-fest."

Your symposium sounds good. I think that Patch would be a good representative, as would Finnerty and Shapiro. Bud would be strong. Any of the NASAA panel folks would be strong.

There is no "my side of things." There are people who believe that there should be rudimentary transparency in the clearing and settling system and adherence to 15c3 and 17A, and those who derive a financial advantage by there not being transparency. Those are the two camps. The industry, the regulators who run interference for the industry, versus companies and investors.

I think it is a splendid idea, but I can tell you that few, if any, would spend much cash to go.

As to being 100% polarized, I think you mis-characterize me. I think fraud is wrong, and that illegal naked short selling is fraud. That it occurs is known, the only question being at what level. I AM 100% anti-fraud of all sorts. I am willing to entertain intelligent debate, as you will see that I have encouraged in the forums section. I am not close-minded, nor am I a ranting, incoherent fanatic. I see a situation that looks almost exactly like the S&L crisis, and I see the same players acting the same way, which makes me uncomfortable. I have a good ear for history. So I will happily publicize your event or help in whatever other way you can think of, as open debate is healthy. I have no problem with being shown to be wrong - I am often, as are most humans. If I am wrong about the naked short selling issue, super duper, I can fold up my tent and go home. That would be a relief, as I am tired.

But so far, there has been no threat of that happening.

Settle the trades as the rules demand, and show us all the data. Seems simple to me. What's to debate?
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By rtway1 on 2/15/2006 12:12 PM
When someone at the dtcc and the sec say they are going to open their books and be transparent and make SHO settle, I think it is another magic act. Did everybody forget this is the Unites States of America, not the United States For The Investment World. Comply with the constitution or have congress rewrite it. I could care less what his feelings are, I just want justice served, PERIOD. If it smells like a pile of sh--, and looks like a pile of sh-- it usually is. Lets wait and see what happens.
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By Cynic on 2/15/2006 2:07 PM
OJ and Baretta were innocent. I'm not so sure the DA's will get the justice they seek. There is way too much money betting on the shorts and DTCC. It's a good step, but I'll believe it when I see it.

And if you are scared about being physically attacked (with so much money at risk, you might be right), I am even more reluctant to believe in justice. If true, this has been going on for 75 years since the laws were written!

Good lluck.
Re: An Open Invitation To The DTCC and to Counsel of Rocker Partners By Jeff Mitchell on 2/15/2006 2:19 PM
If I were to propose “yet another” financial conference, I should be shot. As I wrote on Silicon Investor, I’d plan the entire thing on-line to assure it was tailored to what those of us who post on related message boards care about.

For example, market makers and hedge funds are vilified by people on message boards. How many of “us” really know how they operate behind the scenes? What if someone from NITE was willing to speak? Or someone from Asensio of Rocker’s office? What about someone who used to work in a boiler room, or used to tout stocks, or perhaps even someone, like Janice Shell, who is considered the consummate basher? Would you like to meet the people that run Raging Bull, SI, Yahoo, or IHub? Have access to someone from the DTC, the SEC, NASD, etc? What about Cromwell Coulson (whom I’ve met personally) who owns the Pink Sheets? How about getting a chance to confront the financial press directly and ask them how they choose their stories?

The Mohegan Sun comes to mind because it has separate conference facilities, great restaurants and night life, is situated between two major cities (New York and Boston) and people wouldn’t have to travel anywhere to have a fun night out. It would also be much less expensive than NYC.

Anyhow, if I get some interest here, I’ll create the thread on SI in a spot anyone can post for free with topic ideas. Lastly, I got a call back from Ralph Lambiase who said he definitely would participate. So that’s a good starting point.

- Jeff

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