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Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 83% in vote approve

I'm pretty sure that Cramer handled it a lot better than Herb. Cramer knows what a subpoena is and probably isn't threatened at all. He wasn't mentioned as one of the people calling into Gradient. This is more likely something to do with communications and front-running of TSCM.. especially this last go round where they were talking buy out as DR was selling.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 83% in vote approve

Greenberg and Cramer are trying to put up a brave front. Personally, I think they're both acting scared shit. I'm watching them now and they remind me of a people who, when walking down a dark scary street, will whistle in order to calm their nerves.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 83% in vote approve

New "Crazy Mony" jail-cell web-cam catches inmates waxing philosophic on the latest in stock fraud. Coming to a brokerage near you...hwh

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 83% in vote approve

Herb reminded me of a school yard sissy whining to the teacher that somebody called him a dirty word. LMAO

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 83% in vote approve

Kudlow is a disgrace. The ole bait and switch. Notice how Herb compared himself tot he SEC. They are doing the same job. Now we know what the problem is.
How come nobody mentioned the minute detail of OSTK being on the SHO list for some 200 plus days?? Just an oversight. Did you see Cramer throw the supeona. That's what he thinks of you, Commissioner Cox.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 84% in vote approve

It's now 84%. Hey! can I vote my proxies on this site?

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 83% in vote approve

Wow... after watching Kudlow's show, and the Cramer's.. not only do I feel like I need a shower from all the sleaze bags lounging about... but I now know that the Easter Bunny has his finger squarely on the pulse on the "enterprise"'s game plan.. and it is unraveling in front of our eyes...

... and quickly.

I can't wait for March!

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 84% in vote approve

Nice job EB - Would be nice to see an accurate "brief summary" of the lastest and greatest whats happening. I gave it a try but was not as informed as you. Care to give it a shot so we all can see whats come down and is coming down ?

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 84% in vote approve

I can only hope that Chairman Cox can understand the poll results and support his troops in an effort to dig out the truth. I think CNBC got surprised by their poll.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 84% in vote approve

Interesting. Jeff Matthews now accusing a poster on his site of being Patrick Byrne. The cracks are really beginning to show.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 84% in vote approve

What a difference a team can make. Thanks to all who support the battle against this most egregious fraud!

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 86% in vote approve

Jeff's showing his ass for a year now what else is new. Not a player in this, he's a peon.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 86% in vote approve

Wow Jeff is really bat shit crazy.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 86% in vote approve

when this is over I'm going to petition the court to make it a part of their sentence that they be sent to different prisons,and in the slim chance they get probation I'll ask that they won't be able to associate with each other.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 86% in vote approve

Herb. Poor Herb.Going on Cramer and looking like an idiot. A scared one. It is about time the SEC go after these corrupt journalists and short sellers (who do NSS) because it is ILLEGAL. I Just hope that SEC will not back off and do the job of protecting the public without corruption of any kind.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 86% in vote approve

Seems to be a lot of support. LOL. Now to continue to exercise greater efforts in any way we can.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 86% in vote approve

Bunny, don't you think it's a bit ridiculous that you've got a bunch of Jim Cramer ads in the right hand margin of your site?

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 86% in vote approve

Re: Cramer links. Everyone should click on it and make him [Cramer] pay for the click through :-)

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 86% in vote approve

Bobo- I watched Kudlow and then Cramer. I have never seen Kudlow be more vicious in trying to twist a story and silence someone. He and his other guests did everything they could to discredit Byrne. I suspected it would turn out this way. So much for fair media coverage. The poll didn't turn out in their favor so I doubt they keep that up for long. 86% last count approve SEC subpoenas. I watched Cramer and Herb. They both looked like they were the one that ate the poop. I thought I saw a brown ring around Herb's mouth! I hope no one was taken in by their scripted denials. If the Head of Enforcement at the SEC watched I hope that she demands that COX proceed. If not-quitting would be the right response for COX's political decision. Chris COX - Shame on you.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 86% in vote approve

mfairview is right. Click on a Cramer ad and a fraction of a cent of Cramer's ad budget goes to our friend E.B.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 86% in vote approve

Between the last post and this one, I was able to click five ads - it didn't even take a minute.

I suggest everyone else do the same.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 86% in vote approve

Hey when did Jeff start moderating his posts? I submitted one asking whether a HF had to divulge material information to their investors and how much time they had to do so? I doubt my clout will work there. Perhaps someone else could submit it. I'm really curious.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 86% in vote approve

Cramer and Herb are liabilities for the naked short network because they don't know how to keep their big mouths shut.

Haven't heard much from Remond, Mathews or lil GW lately. That's the smartest thing they could do - button up.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 86% in vote approve

apologize, easter: my firefox has a filter for the goog ads so i won't get to help you out on the Goldman Sax man's links.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 86% in vote approve

Dave had a great idea yesterday about getting the sanity checks name out to the other SHO stocks yahoo chat board rooms.

I just posted the Kudlow voting link on the tasr board. If everyone helps out a little we can get the word out through the other targeted stocks not just NFI and Ostk.

It's pretty easy to do, and will increase the sanity checks audience

Can anyone else post the SHO list link?

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in vote support SEC action

Hey bob, can you add an "updated" date/time stamp for when you revisit your column and add/remove something? I generally don't look at it again after I read it once but would be interested in your updates.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in vote support SEC action

Thanks for showing the numbers of the poll. Now I see why Larry deep sixed it.

OSTK's Short Int went up another 1M+

amazing.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

Thanks for posting the links.

I'm going to go down the lists and try to get the message out at the bigger yahoo chat rooms.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

Anyone notice that Mark Haynes snapped on some guy earlier on CNBC when talking about Walmart? I wonder if that was about the time word got out about Jimmie or if there are more subpoenas in the works that we've yet to hear about.

On the issue of the subpoenas being halted and having to go through the SEC council for approval, does this strike anyone else as being odd that issues have to be approved by the council before enforcement acts can be taken? Imagine if every corporate decision had to be approved by the CEO of a corporation? Doesn't this sound a bit inefficient?

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 86% in vote approve

If it is at all possible to get copies of Kudlow,s prior shows, there is one that the SEC would love to see. I wrote you about this months ago. Kudlow was doing his usual show where he has a group of people in the investing world in some manner.One of the guest was none other than Jeff Matthews, who just sat there with a smug arrogance on his face and contributed nothing to the different discussions that were going on. Then out of a clear blue sky, Kudlow singles out Jeff Matthews about his take on Overstock, and of course Jeff does a hatchet job along with Kudlow. The other guest were never even asked about Overstock. This was probably about 6 or 9 mos. ago as Cramer had already left and Kudlow was now solo. I thought it was so cheap, I sent an E- mail to Larry telling him that at one time I thought he had class, but I never thought he would stoop so low to do what he did. It was blatant.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

You can add PARL to the OSTK and NFI list where manipulation is concerned (although it is not presently on the SHO list). Shorts sold almost 700k shares from mid January to February and now have almost 4.4 million shares short to keep the stock from moving up more than $2. This is a stock where management and institutions own 12 million shares with a 9 million share float. I wonder how many more companies went under siege this last month?

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

I found the voting in Kudlow's poll interesting----evidently, so did he! While I am sure that it is not 'scientific', maybe more polls of this sort are needed---you know the general public gets to really have a say. In this case, they certainly do not seem to agree with Cox. I wonder how many other things that go on inside the Beltway would have differnt conclusions based on votes from those that actually pay the bills?

Bobo, SEC number 2 in charge knew about and approved subpeonas

S.E.C. Chief Rebukes Enforcement Unit for Subpoena
By STEPHEN LABATON

February 27, 2006

WASHINGTON, Feb. 27 — The chairman of the Securities and Exchange Commission rebuked the agency's enforcement division today, accusing it of operating in a renegade fashion for issuing a subpoena earlier this month to two journalists.

The rare criticism of the agency by its chairman, Christopher Cox, followed the decision late last Friday not to enforce the subpoena, at least temporarily, after the commission received calls about it from other reporters. The subpoena had demanded information from two Dow Jones journalists, Herb Greenberg of MarketWatch and Carol S. Remond, a columnist for Dow Jones Newswires, about articles they had written that drove down stock prices of several companies.

"The issuance of a subpoena to a journalist which seeks to compel production of his or her notes and records of conversations with sources is highly unusual," Mr. Cox said in a statement today. "Until the appearance of media reports this weekend, neither the chairman of the S.E.C., the general counsel, the office of public affairs, nor any commissioner was apprised of or consulted in connection with a decision to take such an extraordinary step. The sensitive issues that such a subpoena raises are of sufficient importance that they should, and will be, considered and decided by the commission before this matter proceeds further."

The subpoena was issued by a lawyer in the S.E.C.'s San Francisco office, which is investigating allegations of a conspiracy by a research firm and several hedge funds and traders to manipulate stock prices. Overstock.com, an Internet company, contends that its stock has been manipulated. In a lawsuit filed in Superior Court in California, it has accused the research firm, Gradient Analytics, and stock traders and hedge funds of working together to put out false information about Overstock just after the traders executed heavy bets that the stock would decline.

Officials said last week that the head of the enforcement division, Linda C. Thomsen, knew about the subpoena before it was issued on Feb. 8 and that she did not object. Ms. Thomsen, who has been at the agency for 10 years, was promoted to head the enforcement division last May by the agency's chairman, William H. Donaldson, shortly before he resigned.

Mr. Cox's statement was seen by both government officials and longtime securities law practitioners as a strong slap at the enforcement division, which has come under increasing pressure in recent months from some commissioners.

Last month, the enforcement division struggled to reach an agreement on a statement of principles for seeking fines against corporations. Officials said two Republican members of the commission, Paul S. Atkins and Cynthia A. Glassman, had dissented in enforcement cases involving large corporate fines, arguing that the penalties were hurting shareholders and were therefore not appropriate. Mr. Atkins has been openly critical of the enforcement division, saying that in certain cases it has sought penalties that would unfairly injure investors.

The agreement reached last month sought to resolve those differences, although it is ambiguously written, and some experts say it only postponed further disagreements that are likely to arise about how the agency penalizes companies accused of securities law violation.

In a speech two weeks ago before the United States Chamber of Commerce's Institute for Legal Reform, Mr. Atkins said that under the agreement, "there will need to be a case-by-case showing by the enforcement staff that the penalty is not inappropriately harming shareholders."

http://www.nytimes.com/2006/02/27/business/27cnd-sec.html?_r=1&oref=slogin

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

When you post on yahoo, make sure you change the block of text if hitting more than one SRO list or they will censor your post.

Also, if they see the same link too many times, they will censor.

Try variations:

the sanity check dot com (remove spaces, make dot a .)
the_sanity_check_dot_com (remove underlines, make dot a .)
th_esanitycheck_dot_com (remove underlines, make dot a .)

etc.

to make sure your posts aren't censored.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

Here's a surprise for you, Bob.

Even I was embarrased by the treatment PB got on Kudlow's show. I missed the early part of the piece, but got perhaps the last 4-5 minutes...the part where PB was cut off at every turn and had to listen to Kudlow turn OT and lecture him on OSTK financials without listening to a word.

Missed Greenberg, so no comment there.

Who knows, I may need to get fitted by the Alcoa man soon, bro.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

Matthew Goldstein has updated his earlier article and notes that:

"People close to the SEC say several of the commission's top enforcement attorneys were aware the San Francisco office had served subpoenas on journalists."

Upon reflection, the decision to serve a subpoena on Cramer and TSDC must have been a very carefully weighed decision in light of his celebrity and connections, and that in turn must reflect the quality of the underlying evidence that validated such a move.

I'd definitely be sweating if I were Cramer. This was no minor decision. . .

http://www.thestreet.com/_googlen/markets/marketfeatures/10270634_2.html

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

a big booyah for the san francisco enforcement workers of the SEC. good for you trying to accomplish your mission to provide oversite & enforcement. now if only we could find an independent press to shine a light on this. will their be adequate oversite to protect investors from misleading financial information or will they be ambushed. let this be a test of the U.S. marekts.
i hope the whole world is watching. only way to keep them honest

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

I am not sure about this but are not those subpoenas government property? And Cramer writting "Bull" on the subpoenas would constitute defamation of government property?

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

One of the commentators for Kudlow was bold enough to say they were SHORT Overstock... anyone else hear that?

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

Christopher Cox- I know that you will see this either directly or through your staff. You have been at the helm of the SEC for about a half a year. During this time you got to visit China and tell them how to run their market instead of telling the market participants in the US how to behave. We have now finally seen something from you concerning regulating the US markets. You chose to trash your Head of Enforcement to save your own hide. I do not for a minute believe that you did not know about those subpoenas dated Feb 7th prior to this past weekend. If you truly did not know than you must resign because you must be an incompetent bumbling fool. I for one don't believe that your are bumbling.Your reputation is one of a mover and shaker and your problems concerning securities got swept under the rug in your approval process. I believe you are very slick and have known about these subpoenas prior to Feb 7th. That said have you done anything for the investor since your taking office? I don't mean protecting the extremely wealthy or the crooks on Wall Street. I mean Mom and Pop who get to see their assets destroyed because of your lack of interest in protecting them. I thought not. So here are the choices: you are a bumbling incompetent fool or you are a slick con man in place to continue the raping of Americans. Do the honorable thing and resign NOW!

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

re:Bull. If this is true, can someone take a digital still of it?

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

Famous Quotes:,"How much fraud are you willing to accept in the name of liquidity?" Ch. Donaldson to Ch. Greenspan...hwh

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

Sec....."When are you just going to DO YOUR JOB"--- Rodney Young

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

mfairview, I saw it too - right before the end of the show. He held up the subpoena (or prop that looked like the subpoena) and it had the word "BULL" written across it in red felt pen.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

Bob -

I know your posts are contructive and informative. I'm wondering what percentage are you being harrassed with anti Easter Bunny comments. We all know the closer you get to the money, the more agreesive. nastier and threatening they will become.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

AWS,

Kudlow was at least as bad in the early part of the show; prepped the subject entirely on the basis that PB is whining and pointing fingers at others when the problem is his stock price has fallen because his company has never earned a profit. When he finally took up the subject with his panel, he and two of the panelists were working PB over before letting him on the line. Finally, PB was included and said this is really not about his company but about subpoenas to reporters apparently implicated as participants in a scheme to manipulate stock prices. Then the panel and LK jumped on him for trying to change the subject from his own poor profit performance. They even compared the SEC subpoenas to the subpoena of the NYT reporter in the Valerie Plame matter. Then Charley Gasparino, the only one with the nose for corruption and character to point at it, said "Larry, PB is really pointing to something different from trying to get reporters's sources. PB is noting that the subpoenas here are after evidence that the reporters are involved in the illegal scheme to manipulate stock prices. If that is what is involved, then the SEC ought to be doing its job." PB exclaimed: "Who said that? What's his name?" They told him CG said it and PB congratulated CG for being the first reporter on CNBC to "get it." Then, of course, the rest of the bunch were really incensed for the disparagement of reputations of their "colleagues." One even mentioned PB was setting himself up for a suit for defamation. Then CG said that HG has been in the business so many years, CG would be amazed if he were taking money for doing something such as is alleged. Quite a show. Kudlow kept pouring it on the entire show, and then suddenly looked as if he had swallowed something that was still moving when he saw his own poll results. The poll was about 80/20 then supporting the SEC subpoenas; now the poll is about 88/12. Talk about a tin ear for issues. Larry, it is you, not the president, with the tin ear. This is going to be bigger than Enron, and LK did not shed honor on himself today.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

http://www.investrendinformation.com

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

Greenberg is afraid now, as he should be.

Curious when SEC will do something about the ongoing illegal shorting-another million short, and were still on SHO list. Unbelievable.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

I hope teh SEC checks into teh recent pump in TSCM. It seems Mr. rocker has significantly reduced his share count since January now that the stock has risen. Maybe just a little P&D between friends?

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

Hey Chris COX. How are those buy-ins going for stocks on the SHO lists? Not too good,eh? Why don't you get off your lazy fat butt and DO SOMETHING? Some of those stocks have been on the list since inception(over a year). 13 day buy-ins! Hahahahahahahaha! Your killing us! You are the joke!

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

jcline... that was hilarious... I hope that windbag who so proudly declared himself short OSTK gets his azz handed to him!

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

Pride goith before the fall!

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

Thx Bobo - I heard it from just before the CG statement, so I basically missed any momemts where they didn't interrupt him. Kudlow is like that, but this was awful. He had his slide with the red numbers all set to shove at Byrne when that was not the point of the meeting...and then treated him with less respect than Terry Bradshaw gets after a few cocktails on Jay Leno. It is as if they try to bring Pat out just to flail on him. Remember, this is me saying this...the tried 'n true cynic and press defender.

You know...Pat needs to have someone like me interview him. In his office...he can see the questions ahead of time and run them past Legal and IR Dept...and correct any factual inconsistencies given real-time because I don't give a shit about Gotcha journalism. I want him to tell it like he sees it...let people know which metrics he thinks are important to watch, how the plan is working in his company. Real soft-balls to hit out of the park. I don't care where he would print it. I have no boss or career in journalism to protect. I'd also have plenty of skeptical questions on the Jihad that he, again, could digest as much as he wants before answering because I have no vested interest in anything but truth and helping this guy get a tough but fair shake from the media. He'd have nothing to fear. He'd still get grilled, but he'd be heard. Hopefully no comments about the GS trading desk would ensue.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

Someone a long time ago said Kudlow was part of the cabal, but I thought he had to much class for that kind of conduct. He certainly proved me wrong today. That was so embarassing it was almost tearful. I thought Pat was a terrorist in questioning.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

I'm getting tired of thinking that Patrick is coming on TV to respond to, say, questions about why miscreants are receiving subpoenas from the SEC yet having to answer different stupidass questions like, say, "Isn't shorting necessary for healthy liquid markets?" Or my other fave, "Wouldn't the naked short sellers and criminal stock manipulators take care of themselves and your stock price take care of itself if you'd just stay in your office cowered under your desk?!?"

I know Patrick has a large, soft spot in his heart for Ron Insana and I'm NOT saying Patrick shouldn't jump at every chance to go on TV (I would), but definitely from here on out he's always gonna get ambushed. And now they know to go 4 on 1.

Did you catch the hate on Larry's face?

What about Jeff Mathews Jr.? Lemme guess, never heard of NSS.

Somehow in the whirlwind of sucker-punches one of them (Charlie G.) experienced a moment of clarity (and I swear I saw a lightbulb go off above his head) causing him to think that maybe the SEC subpoenaed the miscreants FOR A REASON. Whatever it may be.

BTW, did ya see the hate on Larry's face? Maybe it was good Patrick was on the phone no matter how much I wish he was there.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

If this doesn,t get the DTCC to open up books , they would look like the biggest crooks on the planet, in the eyes of the world, and we are supposed to be the good guys.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 87% in CNBC vote support SEC action

i dont know enough about all that Herbie has written or about the truth/falsity of what he has said about NFI. but, i watched him with Cramer and it was VERY clear that this guy sees it as his goal to MOVE stocks. Not just get out some investigative reports etc, but to focus on and move particular stocks. Like Cramer it feeds his ego. I mean 41 stories in a year on NFI, I mean how can a little REIT deserve so much press? It would have to be a staggering scam and it doesnt look like it is. I wouldnt call that journalism. I dont know if I would call it crooked and i dont know if I would impinge up the freedom of the press (incredibly sacred) but the guy is a little suspicious and I'm not sure real journalists want him carrying their mantle cuz there is something fishy there.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

Damn! I missed the mad money show! Hope you get clips of that. I thought about posting that same comment about Ram partners on Jeff's site the other day but man to think that would make me Patrick Bryne? Good Gawd! It's like vietnam and the jungle is alive with paranoia! Never been more interresting! I've longed for this day!

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

LK looks like he fell off his 12 step substance abuse program. He talks a great game, but he is just a highly educated junkie.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

What is particularly odd is that the miscreants accuse us of being paranoid and conspiracy theorists and of being afraid that a group is working in concert behind the scenes to "get them"...and that is actually there new line!

I agree that Patrick should just respond, "you just want to talk about OSTK fundamentals to deflect attention from the fact that the SEC is subpoenaing you".

As to Herb being a little fishy, I say, let's let all facts be known, and then judge the men according to their actions. While freedom of the press is sacred, there is precedence for subpoenaing and then prosecuting journalists for criminal behavior. So the sacredness doesn't extend to mis-deeds. The NY Press has worked hard to make this a 1st Amendment fight, and it isn't. Cramer wiping his ass (figuratively) with the subpoena, and writing "Bull" across it, and essentially deriding the SEC and the process of investigating impropriety, is a slap across the face for the rule of law.

It sent a very clear message to me: "The rules don't apply to me, they are only for you suckers, and I don't care what the SEC wants, I only do what I want." The sheer unbridled cynicism and arrogance was breathtaking. How can the SEC NOT move forward against him now? If Cox cuts his Director of Enforcement's authority out from under her by compromising her judgment, he is killing his own agency. He is NOT possessed of 10 years of SEC experience in enforcement, and prosecuting criminals is NOT a political plaything - it is the job of the regulator. Cox is a political appointee whose sum total of experience amounts to a 6 month orientation. Issuing public rebukes for someone who is doing their job smacks of cover-up.

Cover-up.

There's that word again. The regulator in charge of ENFORCING the rules and investigating the crimes signed off on this, and the political appointee with exactly NO enforcement experience wants to turn it into a bad cop melodrama, where the competent detective is pulled off the case by the grandstanding bumbling captain, who proceeds to blow the whole thing.

This is almost stereotypical, and I guarantee every eye of every staffer at the Commission is on this now. If Cox cuts her off at the knees, he damages the Commission irreparably, and further destroys the Commission's credibility permanently.

This is now front page news, and the talk of Wall Street. I am getting hundreds of emails from very surprising sources. I know whereof I speak on this. Cramer laid down the gauntlet and typified "his team's" attitude - one of unbridled contempt for the rule of law.

Wasn't hard to pick up on.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

Does anyone know why OSTK's float went from 10 million to 13 million today? Shares outstanding stayed the same at 18.8 million. Did someone add closely held shares to the float, and if so, why?

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

The arrogance of these people on CNBC. No wonder Dateline was squashed!

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

On Thursday the Commission will have a closed door meeting to discuss what to do with this subpoena thing. Before then we need to make some serious noise.

1. Is Cox going to remain a politician or will he take on the role and responsibility of regulator?

2. If the Commission elects to overturn the subpoenas that would be a vote of no-confidence for the second in charge at the agency. Will Cox then remove Thomsen from post as Director of Enforcement?

The greatest thing that happened in all of this is that it puts the Commission into a corner. Either Thomsen had something and was acting upon the evidence she has uncovered thus over-ruling her would be allowing the fraudsters to go away untouched or she had uncovered nothing and it now questions her abilities to lead.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

Larry Kudlow is a Fascist, plain and simple... he's not about fairness, he's about WEALTH making RIGHT, same as MIGHT makes RIGHT...

I guess if you're RICH enough to BUY anything, that's OK, it's just the "free market working"...

Hey, Larry, would you send your kids to defend our OIL in the Middle East if asked? Do YOU pay your full share of taxes or do you use loopholes?? Don't you WANT to buy as many missiles as possible? Maybe aim one at the SEC??

ARE YOU SHORT ANY STOCKS? DISCLOSE PLEASE...
KudLOW is the perfect name -- maybe Mudflow would be BETTER!

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

88%. Overcomes the statistical margin of error, by a tad. Beings it has been the strategy of defense to "mold" public opinion, things look, well, bleak. After great effort 1 in 9 have been swayed. That is in the targeted group also. Somehow the chances of concincing a jury of just folks, who can see dishonesty when it screams booyah in their face. Stands scant chance of being overly impressed with a defendent obviously attempting to wrap their actions in a holy grail. Goodness the first of March is here already. Time for more stall motions. Delaying the blade.

*** Kindergarten Antics ***

Kudlow is just another screaming meemie and Cramer should be put in his timeout chair.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

Charley Gasparino, put it out there this morning on CNBC. He stated that the SEC must think there is fire there if they went after the journalists. The tide is turning folks.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

89% If this doesn't send a clear message to Cox, the SEC, Congress and the Press then I don't know what will.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

Patchie, I agree completely that this puts the SEC in a corner. More particularly, puts Thompsen in a position to defend her decision. I think the best way to get info to Cox at this point is through Thompsen.
Bob, we should get the latest numbers from the poll to Thompsen as well as the clip of Cramer throwing the subpoena on the floor. I bet she has a strong incentive to show these to Cox.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

I am sending Linda Thomsen an e-mail to congratulate her on having the guts to actually do the right thing!

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

from Thomsen, head of enforcement:

"We don't issue subpoenas willy-nilly," Thomsen said. "Without regard to any
particular investigation, we're going to do it with great care, based on
where the evidence is taking us."

from Cox regarding Thomsen:

"My estimate of Linda Thomsen is the same as it has been
since the day I met her. She is absolutely outstanding."

source- LA Times

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

//What is particularly odd is that the miscreants accuse us of being paranoid and conspiracy theorists ...//

Well you get that from your friends too. All in good fun.

Actually, I'd describe the tenor here as honest people...well-intentioned yet tending toward hyperbole, matched with the axiom "To the man with the hammer, everything looks like a nail."

Evidentiary hurdles are higher than you'd probably like.

But that's just one miscreant's opinion.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

***SPECIAL ALERT***

More on this momentarily on CNBC

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

Does anyone have video links to the Kudlow .....or Cramer/Greenberg fiascos? Do you think they can turn this whole thing into a new "Survivor-Business Edition" reality show? They can all scheme to make alliances, and then back stab each other at the first "SEC Immunity Challenge" .... I know the perfect island to stage it .... Riker's.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

Gasparino just talked in circles...... Enforcement believes they did right, Thomson ok'd it, Cox disagrees but is going to back his people. THey showed the cramer clip. They aren't afraid of the supeona toss. Oh well. CNBC just lost the only show anybody watched. Tuff.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

Never make a woman head of enforcement unless, of course, you want enforcement.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

Ok everyone, look. Cramer knows this subpoena is much ado about nothing. He knows that all he has to do is obtain the security video from the the grocery aisle where met Rocker to prove there is nothing to this stock manipulation mumbo jumbo.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

Settle the Trades or Settle in Jail.

Dont forget this is all about NAKED SHORTING!

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

Hey look! It's scoops McBoyd a day late, and a.. well.. you know:

http://www.nypost.com/business/64330.htm

SEC GIVES SUBPOENAS TO
CRAMER, STREET.COM

By RODDY BOYD
February 28, 2006 -- Booya! The Street.com and its outrageous founder and TV host Jim Cramer said last night they have been subpoenaed by the Securities and Exchange Commission's enforcement division.
The summons came as part of the SEC's investigation of charges that reporters colluded to collapse the stock price of money-losing Internet retailer Overstock.com.

Earlier yesterday, SEC Chairman Christopher Cox announced an internal inquiry into why the agency's San Francisco office last week issued subpoenas to two other business journalists in the same case.

After a storm of criticism, the SEC...

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

Biovail never mentions naked shorting in their lawsuit. It is about illegal collusive "bear raid" shorting with media complicity.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

here are a few e-mails. Let the SEC understand the dilema they are in:

thomsenl@sec.gov; coxc@sec.gov; glassmanc@sec.gov; nazaretha@sec.gov; atkinsp@sec.gov; camposr@sec.gov; oig@sec.gov; stachnikw@sec.gov; heinej@sec.gov

Outside of those you already know, OIG is teh Office of Inspector General for which Walter Stachnik heads and John Heine is media relations.

As these people if Chairman Cox and the Commissioners intend to back away from regulatory enforcement issues to play politics with the financial press. Cox promised that he could make the transition from politician to Head of Regulating our Markets without the partiality of politics. This is his first test.

The other issue we need to know is, if the Commission chooses to walk away from these subpoena's will Linda Thomsen be requested to step down or resign under a vote of no-confidence? The Commission cannot be trusting of a person they would have voted made such an egregious error in judgement.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

I was just thinking...

When the research analyst scandal erupted Congress addressed how everybody knew but the regulators. "The press was writing about this conflict for years and yet regulators never picked up on it".

This is just the opposite. Congress should be asking why the press has so convieniently avoided this topic of conversation as everyone on Wall Street knows how Hedge Funds control the markets - including the regulators.

Gasparino last night talked about how the financial press relies heaviliy on short sellers/hedge funds for information. The financial press gain their reputation by "breaking stories" Ironically these breaking stories also seem to aid the Hedge Fund feeding them the info.

Also to consider is that the Elgindy trial exposed how the short sellers use the regulators to work their projects. Since regulators primarily put black clouds on companies, the use of the SEC benefits the short seller more than it would a long shareholder. The SEC admitted they act cautiously when taking on investigations initiated by short sellers so...if the short sellers are limited with the SEC, why wouldn't they use the press?

I ask again - If short sellers are so smart, and they conduct all of this extra diligence, why do they have to cheat to get ahead. If a stock is going to move down because it is overvalued, let it move down on it's own timetable. Why do Hedge Funds try to manipulate the outcome to their timetable by using the powers of the press and the SEC to aide them in their investments?

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

I watched both the kudlow and cramer fiaosco's last night. What a set-up on dudlow. My word, dudlow was out for blood pure and simple. He simply tried to railroad Byrne on the show. Dudlow did himself a big disserivce, easy to see through. Kudows for C Gasbarino last night though - only one with enough cajones to speak up.

Cramer and Greenie protested a bit too much. You could see by the way Cramer first came the show on that he had a bug up his butt, arrogant and ready to prove a point. Unfortunately for him and Greenie, their little display of defense was pointless. The public and retail investor are much more aware of what is going on in the stock market then those running it on the street realize. Talk is cheap, the SEC needs to enforce the rules or ruin the market for all. It is easy to watch stocks get railroaded by the hedgies/tutues/broker dealers/media. The gig is just about up.

Waiting for the hyenas to turn on themselves. Go Bobo, PB, and BVF.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

This was post on the OSTK board. I find it most apropos. It appears we are well into stage two.

Arthur Schopenhauer
German philosopher (1788 - 1860) All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

Cox First speech to the Commission- August 2005

http://www.sec.gov/news/speech/spch080405cc.htm


"I'm happy to be here on the job as the new head of OPM. Don't worry. I know where I am. And I know this isn't the Office of Personnel Management. But for me, that's not what OPM means. OPM stands for "Other People's Money."



And that's what we are all about here-ensuring that those who exercise power and control over Other People's Money respect the trust that has been placed in them ... and treat investors right. That's why my first meeting with Commission Staff was with Linda Thomsen, our head of Enforcement. She and her entire Division will have my unstinting support."



"The world has faith in our markets because it has faith in the integrity of the people minding the store ...

That is why I pledge to go to bat for you...

You are smart people who deserve to be respected, appreciated, and listened to. I pledge to do that."





How far will Cox go to bat for his people will be tested right here. He has not yet been in office more than 6-months and he will be tested as to whether he is a politician (what the critics to his appointment feared) or a man willing to take on the responsibilities and accountabilities of the job he accepted. If he backs down on this he will have demonstrated to the Staff of the SEC that he will not go to bat for them but will instead hang them out to dry in a game of politics. That what they uncover in investigations has a cieling as to how far he is willing to take enforcement.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 89% in CNBC vote support SEC action

I loved it when Cramer called Greenboy a criminal then tossed his SOBpena in the air. Reminds me of scurrying cockroaches when the kitchen light is turned on.

Good work Bobo' !! You, Mr Faulking and Mr. Ostock and others get some credit for this. It took years but it looks as if the facade will soon crumble

BTW I just pushed the MSNBC poll to 89%

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

It looks like CNBC has closed the poll. The total vote count hasn't changed from 2348 in over half an hour. Guess they didn't want to risk it going from 89% into the 90s.

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

Has there been any confirmation of NAVR and TASR being the 2 other companies the SEC is investigating with respect to their trading acrivities?

Re: Cramer gets SEC Subpoena, along with TheStreet.com - and 88% in CNBC vote support SEC action

Write to Bush about Cox.