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Post by kranker on Sept 24, 2006 21:36:34 GMT -4
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Post by bobo on Sept 24, 2006 21:37:07 GMT -4
Any idea when the John O'Quinn and Wes Christian consortium will unleash hell on the financial terrorists? I can "feel" it is CLOSe.  ------------------------- I suspect that the NFI shareholder suit against the prime brokers will be a sort of hell – when those huge banks are forced to explain to a jury of 12 truck drivers and postal workers and accountants how they facilitated massive depressive attacks on a company mainly held by retirees. That is sure to play well. Also, RICO is in the air on that one. I like that cause of action better than any of the other causes I’ve seen out of the group to date, and think it is hugely promising. |
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Post by kranker on Sept 24, 2006 21:37:56 GMT -4
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Post by jannikki on Sept 24, 2006 21:38:21 GMT -4
For those who have not read your blogs from the beginning, tell us a little about the characters you talk about. Who are they? Why have they taken such a profound interest in this? ------------------------ Where do I start? You mean the hedge funds? Rocker Partners is widely considered to be one of the prime movers in NFI, so that is why they appear on my radar – coincidentally, they are also thought to be the prime mover is OSTK, KKD, NFLX, ALD, TASR, and a host of other SHO list victims. Boy, wouldn’t it be something if it was so obvious the SEC could figure this one out? But it’s not happening. SAC is Steve Cohen’s hedge fund, which is being sued by FFH and Biovail for the same sorts of tactics allegedly employed by Rocker – in fact, it is conceivable that a group of these funds form a loosely affiliated cartel that targets plays, and works in synch. Sort of like Milken did with Boesky and many of his other network of manipulators back in the 80’s – in fact, almost exactly like they did. Isn’t it fun how that was the modus operandi in the 80’s, but the press acts like it is wild-eyed crazy talk just a few years later? There’s about a dozen journalists who appear beholden to these funds, as well as to the DTCC and the Wall Street apparatus, who routinely appear in the organized bashing of the targeted companies. Greenberg comes up a lot. Cramer does too. Eisinger, Remond, Alpert, the list goes on. Most got subpoenas from the SEC, which Cox couldn’t squash fast enough. That speaks for itself. There are research firms who also play in this. Gradient is being sued by Biovail and OSTK for the same sort of shenanigans. There are captive propaganda disseminators who work the blogsphere – Jeff Mathews and Gary Weiss are two of the more onerous – who act as apologists for the naked short selling scumbags, and attack anyone who takes them on. Both have been thoroughly discredited by now, so don’t have much clout, but they continue to do their bit in a very workmanlike fashion. Milberg Weiss sued virtually all the targeted companies mentioned – I think OSTK is the only one they didn’t, and their prosecution for racketeering and fraud and a host of other offenses may have something to do with the timing issue with suing OSTK. Does that cover all the players? Yes, I thought some may wonder who lil GW is .  |
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Post by bobo on Sept 24, 2006 21:38:30 GMT -4
USXP reportedly sued a shorter a couple of years back and won. They were awarded a huge judgement for damages. Do you know if USXP has ever actually collected on any of that money? ----------------------------- I don’t think they’ve seen a dime. That’s because criminals stall, distort, lawyer up, delay, and do virtually anything they can to avoid paying their penalties. Why not? If you were a scumbag and could get away with it, wouldn’t you? As an aside, I'm not even sure how much of the penalty money the SEC fines Wall Street even gets paid. I've never gotten a straight answer on that. Someone should craft a FOIA request... |
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Post by bobo on Sept 24, 2006 21:39:03 GMT -4
Do you know Kevin West? And if so, what is you impression of him and his abilities to perform as CEO of CMKX? TIA -Puddin  -------------------- Don’t know him, and I don’t know what qualities would be most desirable in the CEO of CMKX. |
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Post by kranker on Sept 24, 2006 21:40:42 GMT -4
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Post by kranker on Sept 24, 2006 21:42:37 GMT -4
OK folks, Bob is answering the 6PM EST posts right now. Get your questions in. |
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Post by bobo on Sept 24, 2006 21:43:02 GMT -4
------------------------------ Yup. They so picked the wrong guy to take on. Imagine going through that, and then ask yourself: What are you afraid of? Answer? Nothing in this world. Bring it on. |
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Post by jannikki on Sept 24, 2006 21:46:07 GMT -4
I think a unified petition is a great idea. |
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Post by kranker on Sept 24, 2006 21:46:20 GMT -4
Any idea when the John O'Quinn and Wes Christian consortium will unleash hell on the financial terrorists? I can "feel" it is CLOSe. ------------------------- I suspect that the NFI shareholder suit against the prime brokers will be a sort of hell – when those huge banks are forced to explain to a jury of 12 truck drivers and postal workers and accountants how they facilitated massive depressive attacks on a company mainly held by retirees. That is sure to play well. Also, RICO is in the air on that one. I like that cause of action better than any of the other causes I’ve seen out of the group to date, and think it is hugely promising. I want to drive the truck!  |
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Post by midget on Sept 24, 2006 21:46:43 GMT -4
Bob, not a question, Just wanted to say how much I appreciate what you have done plus the sacrifices Thanks |
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Post by bobo on Sept 24, 2006 21:47:07 GMT -4
------------------------ I like the interview. She's a great listener, and asks insightful questions. Patrick is Patrick. The man is extraordinarily erudite. And he now knows the topic cold. When I first broke it down for him on the conference call a few years ago, I think it was overwhelming. Now, all the parts are known, and it turns out that schematic was complete. Patrick gets the point across, and is believable. What you heard in people's voices was outrage that their cherished notions are hollow shams, abused by miscreants. Nobody wants to hear that. It's easier to just call the messenger a loon and assume a smug superiority. |
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Post by jannikki on Sept 24, 2006 21:48:21 GMT -4
I thought he did a great job...but I can understand why the callers were freaking out. I felt pretty freaked out myself. |
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Post by bobo on Sept 24, 2006 21:49:11 GMT -4
-------------------- I think that we are going to need to see discovery in some of the lawsuits that proves beyond a shadow of a doubt that there was widespread abuse. At that point, I believe that we will see laws changed to stop the practice, moving forward. We also may see the state-level regulators take action that forces the SEC’s hand. But for us to have more than a Pyrrhic victory, we need to see the regulations changed, and enforced, as outlined in the NCANS letter linked at thesanitycheck.com site. That really is the final word on how to eliminate the problem. Whether that will actually occur is a different question. We know what the problem is, we know it is fixable, and we know what to do to fix it. Beyond that, I don’t know how to make our cops do their job. I still think it will come down to suing the SEC to get it done – to shame them into doing their job. Bob, We want the criminals to pay now, and dearly. I am thinking someone, maybe a group, is going to buy a million bucks worth of advertising to devastate these criminals in the near term. It could be wishful thinking, but I think it could be done, and would hammer them severely... Thoughts? ---------------------------- Already tried that with the Washington Post. Take the million and sue the SEC. Ads will just be ridiculed away. You can't outspend the guys that print the money. But you can drag their asses into court, and make them explain why they pass rules that violate their Congressional mandate to protect investors. Better use of resources. |
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