OVERSTOCK.COM INC
			Symbol			OSTK

Overstock.com CEO serves up excuse for sloppy story

2009-03-06 20:25 ET - Street Wire

by Lee M. Webb

Overstock.com Inc. chief executive officer Patrick M. Byrne, a naked short selling conspiracist who moonlights as a Deep Capture reporter, claims that a sloppy story released on March 1 was actually a draft essay "inadvertently set live" on the website at midnight. Some time after the reportedly inadvertent witching hour release, Mr. Byrne did some editing.

This is not the first time Mr. Byrne has done postpublication editing of his Deep Capture work, often without acknowledging the after-the-fact cleanups. In fact, Mr. Byrne is a dab hand at rewrites and quiet corrections and, perhaps not surprisingly, that is apparently a trait shared by Overstock.com. Indeed, in some respects, Mr. Byrne and Overstock.com seem to follow Meskimen's Law: There is never time to do it right, but there is always time to do it over.

As previously reported by Stockwatch, since Mr. Byrne took Overstock.com public in 2002, the company has had to restate its financials twice, including a restatement of previously restated financial reports. While making its most recent restatement, Overstock.com took the opportunity to back out a 2007 one-time cumulative adjustment of $13.7-million into the appropriate prior periods. (All amounts are in U.S. dollars.)

When Overstock.com filed its most recent amended financial reports last November, the company also quietly abandoned its previously non-compliant EBITDA (earnings before interest, taxes, depreciation and amortization) in favour of a compliant "Adjusted EBITDA" properly reconciled to its net loss.

While Overstock.com's accounting errors, restatements and EBITDA shuffle add up to a mess for some investors, there is at least an easily accessible permanent record of the company's fumbling footwork in filings with the U.S. Securities and Exchange Commission (SEC). The same cannot always be said for Mr. Byrne's postpublication revisions of sloppy Deep Capture articles.

Before turning to Mr. Byrne's most recent "essay," edited after it was "inadvertently set live," Stockwatch will review some of his other revised Deep Capture work.

Snip, snip

It would be an understatement to suggest that former New York Post reporter Roddy Boyd, who subsequently moved on to Fortune Magazine, is not held in high regard by Mr. Byrne, his Deep Capture colleagues or their supporters.

Indeed, judging by Deep Capture stories, Mr. Boyd, like most journalists who have ever written anything critical about Overstock.com or Mr. Byrne or his conspiracy theories, is either a stupid lickspittle hack unwittingly doing the bidding of nasty naked short selling hedge funds or a stupid lickspittle hack on the take from nasty naked short selling hedge funds.

The disdain for Mr. Boyd traces back to at least August of 2005 when he wrote an unflattering New York Post article about Mr. Byrne's strange Aug. 12, 2005, conference call to discuss a lawsuit that Overstock.com had filed against Rocker Partners and Gradient Analytics, along with associated entities and individuals, for allegedly conspiring "to denigrate Overstock.com's business for personal profit."

During the bizarre conference call, Mr. Byrne rambled on about naked short selling, miscreant hedge funds, offshore accounts, foreign exchanges, the Depository Trust and Clearing Corporation, the SEC, reporters and research firms assigned to write hatchet jobs, dirt-digging private investigators, paid message board posters and, among many other things, a criminal mastermind called the Sith Lord.

"You may think I'm nuts," Mr. Byrne candidly acknowledged as he was nearing the end of the bizarre performance.

In fact, many people who listened to the rambling presentation did wonder about Mr. Byrne's mental health. In the wake of the conference call, Mr. Boyd evidently wondered enough to raise the matter with an Overstock.com spokesman.

"He said that Byrne, to his knowledge, is not currently under any psychiatric care and that he was sober when he gave the presentation," Mr. Boyd reported in his Aug. 14, 2005, New York Post article.

Supporters of what Mr. Byrne has variously called his "crusade" or "jihad" or "mitzvah" against naked short selling were outraged by Mr. Boyd's story. That article, alone, might have been enough to have them relegate Mr. Boyd to what Mr. Byrne and Deep Capture call the New York financial journalism spooge-bucket brigade. Subsequent articles cemented his position there as far as Mr. Byrne and Deep Capture and their fans were concerned.

In any event, Mr. Boyd had already been well roasted by Deep Capture when Mr. Byrne gave him another turn on the spit in an Oct. 10, 2008, article taking him to task over a Fortune Magazine story about Copper River Partners, the hedge fund formerly known as Rocker Partners that Overstock.com sued in 2005.

Mr. Byrne's Deep Capture article was suggestively titled, "Roddy Boyd Sucks It Like He's Paying the Rent."

"I have met Roddy on occasion, and a more seedy and furtive character would be difficult to name," Mr. Byrne remarked in his opening paragraph. "Many years ago I knew a one-eyed Chinese guy named 'Chaney' who ran a Bangkok pawn shop/mail-drop who was (it was rumored) working for Taiwanese, Chinese, and Soviet intelligence, simultaneously, but by appearances anyway, Chaney was a model of probity and fair-dealing when compared to Mr. Boyd."

A little deeper into the article, Mr. Byrne offers some comments about Copper River's purported relationship with a number of journalists. The sexual connotations are difficult to miss.

"This is the same Copper River/Rocker Partners whose exploits are chronicled throughout DeepCapture, and who have been frequent beneficiaries of reportorial lotion-jobs from Roddy, Karen Richardson (WSJ), Herb Greenberg (CBSMarketWatch), Joe Nocera (New York Times), and Jim Cramer (CNBC & TheStreet.com), and have been long-time recipients of Bethany McLean's highly-regarded regulars-only service," Mr. Byrne wrote.

After taking some swipes at the content of the Fortune article, Mr. Byrne closes with a final sly cut at Mr. Boyd.

"But perhaps I am too hard on Roddy," Mr. Byrne wrote. "'Out of the crooked timber of humanity no straight thing will ever be made,' said Kant.

"A gal moves to the big city, gets behind, does things of which she is not proud. Molded are we all of imperfect clay.

"But normally, she doesn't write home about it.

"It's just Roddy's ill fortune to have to perform these acts in national print."

Very soon after Mr. Byrne's Oct. 10, 2008, Deep Capture article was released, someone evidently reconsidered the racy title and quietly substituted "Roddy Boyd Works It Like He's Paying the Rent." The revised title held for months, but the original title, "Roddy Boyd Sucks It Like He's Paying the Rent," has since reappeared on the archived article.

It is not clear whether the return to the original title was the deliberate work of Mr. Byrne or one of his Deep Capture colleagues or the gremlins that apparently afflict the website. In any event, other postpublication edits have not reappeared.

For example, on Oct. 29, 2008, just five days after Overstock.com shocked shareholders with the news that it had discovered accounting errors resulting in a $12.9-million reduction in revenue and necessitating the restatement of financials dating back to 2003, Mr. Byrne found time to put out an article on one of his favourite topics, the "captured" SEC. That article received some after-the-fact snipping, too.

"In mid-2004 the SEC (itself a kind of joint venture of the US federal government and the most crooked of Wall Street's elite) adopted Regulation SHO," Mr. Byrne's article began.

That, at least, was the original opening line. Google had barely registered Mr. Byrne's Oct. 29, 2008, Deep Capture piece before the parenthetical characterization of the SEC was edited to drop the reference to "the most crooked of Wall Street's elite."

Mr. Byrne's postpublication pruning of a Dec. 5, 2008, article was even more aggressive.

Chop, chop

On Dec. 4, 2008, Mr. Byrne, no stranger to hyperbole, wrote an article titled, "Hedge Funds to Cancer Patients: 'Die.'" The gist of the story was that, in order to pay for ski trips to Gstaad, hedge fund managers manipulated the share price of Dendreon Corp., a biotech firm researching cancer treatments, by naked short selling the stock, thereby making it difficult for the company to raise capital to finance its research.

By Mr. Byrne's logic, which turns on his interpretation of fails-to-deliver data to the exclusion of other information about Dendreon, in order support their lavish lifestyles, crooked hedge fund managers were condemning cancer patients to death.

Mr. Byrne picked up that theme again in a Dec. 5, 2008, story originally about InterMune Inc. and another company, Northfield Laboratories Inc. That piece was titled, "Hedge Funds to Non-Cancer Patients: 'You also die.'"

"Stock manipulators think that not just cancer patients should die to pay for ski trips to Gstaad," Mr. Byrne wrote. "Those suffering from various pulmonary and blood diseases, or simply, those simply needing blood substitutes in an emergency should die, too."

As with the Dendreon article, Mr. Byrne buttressed his piece about InterMune and Northfield Laboratories with graphs of each company's stock price and fails-to-deliver data and a brief sketch of their business.

"Stock manipulators think that people with these medical problems should die, too," Mr. Byrne wrote. "They say this by manipulating the stock prices of InterMune and Northfield Laboratories so they cannot access the capital markets to acquire capital to fund their research.

"In the interests of journalistic integrity, I should disclose that I don't much like the people doing this."

Evidently "the interests of journalistic integrity," at least as practiced by Mr. Byrne, do not extend to offering so much as a peep about why he subsequently chopped the section about Northfield Laboratories, graphs and all, from his article.

It is perhaps worth noting that Mr. Byrne took the axe to that part of the article after a commentator raised a number of concerns about the history of Northfield Laboratories and opined that it was a poor example to be used in support of his thesis.

It is also perhaps worth noting that InterMune completed an underwritten public offering for net proceeds of approximately $63.5-million on Feb. 19.

In any event, Mr. Byrne served up some more of what evidently passes for journalist integrity at Deep Capture in a disturbing Dec. 6, 2008, article that was substantially rewritten shortly after being published.

The do-over

Mr. Byrne's Dec. 6, 2008, article continued to play on the theme that naked short selling hedge funds condemn people to death. In this case, the people slated to die, according to Mr. Byrne, are U.S. soldiers.

Mr. Byrne titled his story, "Hedge Funds to US Solider: 'I need a Maybach, so ... You can die too.'"

"This story gets told in pictures, mostly," Mr. Byrne began. "Take a Mercedes, stir in a couple hundred thousand dollars, and you get a car called a Maybach. Hedge fund guys in New York and Connecticut buy them."

A picture of a Maybach followed.

"This is a Humvee," Mr. Byrne continued. "US military personnel drive them around war zones."

A smaller picture of a Humvee followed.

"This is an Improvised Explosive Device," Mr. Byrne wrote. "Extremists set them up on roadsides in Iraq and Afghanistan."

A picture of an explosion on an unidentified street followed.

"When a Humvee meets and (sic) IED, this is the result," Mr. Byrne went on.

The gruesome picture that followed showed two doctors apparently examining a hole in the right foot of a soldier whose left leg has a massive, horrid, bone-deep gash through the hip and thigh and has been blown off below the knee, leaving mangled flesh. A bloodied arm extends from a covering that obscures most of the upper body.

The story, for those who can get past the disturbing picture of the mutilated body of the soldier, goes on to talk about Force Protection Inc., a company that manufactures "Mine Resistant Ambush Protected" vehicles (MRAPs) designed to deflect bomb blasts.

"The Department of Defense has placed huge orders for MRAP's (sic)," Mr. Byrne continued after a brief discussion of the MRAPs. "Force Protection revenue has soared and they are nicely profitable."

An image of Force Protection's income statement followed, showing net income of $19.9-million for the quarter ending Sept. 30, 2008.

"The stock price of Force Protection was holding its own ... " Deep Capture's founder remarked.

A graph of Force Protection's stock price from December 26, 2006, to May 7, 2007, followed.

"... so they decided to do a secondary, that is, to sell some more of their stock into the public market, raising capital with which to expand their production to keep up with DOD demand," Mr. Byrne claimed. "As soon as they announced their intent, however, some people began naked shorting them into oblivion."

A graph of Force Protection's stock price and fails-to-deliver followed.

"As a result, Force Protection cancelled their secondary and throttled back their expected output," Mr. Byrne declared. "Thus, somewhere in Iraq this week soldiers will have more of these ... "

The grisly picture of the mangled soldier followed again.

" ... so that soft hedge fund guys can have more of these," Mr. Byrne wrapped up his text.

The article closed with a picture of the Maybach.

Shortly after the article was published, the picture of the U.S. soldier savaged by an explosion was replaced by a still disturbing, but less graphically gruesome, picture of a ramp ceremony with several flag-draped coffins being loaded on a plane.

(With another warning about its graphic nature, the original picture can be viewed here: http://jameswagner.com/images/Lucian_Read_american-soldier-ramadi-wounded-by-ied-iraq-2006.jpg)

In addition to the photo swap, Mr. Byrne did some postpublication rewriting. He abandoned the claim that Force Protection "decided to do a secondary" but cancelled it after "some people began naked shorting them into oblivion."

"A natural move at this point might have been to do a secondary, that is, to sell some more of their stock into the public market, raising capital with which they could expand their production to keep up with DOD demand," Mr. Byrne suggested in place of the previous claim that the company had actually decided to do a secondary and had even announced its intent.

"However, someone started naked short selling them," Mr. Byrne's rewrite continued. "Force Protection is thus not able to complete a secondary, and remains unable to meet DOD's demand."

Oddly, Force Protection is not doing any whining about not being able to do a secondary, nor does the company make any disclosures about not being able to meet the demand of the U.S. Department of Defense.

Indeed, when Force Protection released its third-quarter results on Nov. 10, 2008, the company noted that "it continued to maintain a strong capital position, with no long-term debt and $79.4-million of cash" as well as available credit of $40-million.

Moreover, not only was Force Protection filling orders for the U.S. military, it was supplying vehicles to the United Kingdom and announced on Nov. 17, 2008, that it would supply 48 vehicles to the Canadian military in 2009 under a contract valued at $49.4-million.

Before leaving Force Protection, it may be worth mentioning a few other things about the company that did not make it into Mr. Byrne's sloppy piece of naked short selling propaganda.

In March of 2007, for example, Force Protection announced that it would have to restate its financials for the year ending Dec. 31, 2005.

In June of 2007, the Pentagon's Inspector General criticized the U.S. Marine Corps for awarding sole source contracts to Force Protection.

The Defence Contract Audit Agency was also highly critical of Force Protection's sloppy accounting practices, something that threatened the company's eligibility to compete for government contracts.

In February of 2008, Force Protection announced that it would have to restate its third-quarter report for the period ending Sept. 30, 2007, and would not be filing its annual report for 2007 on time.

In March of 2008, amidst the filing of a slew of class action lawsuits against the company, Force Protection's auditor resigned, claiming that the company lacked the internal controls necessary to be able to develop reliable financial statements.

In August of 2008, Force Protection disclosed that it would have to restate even more previously released financial statements.

The company, in danger of losing its Nasdaq listing, finally filed its delinquent reports and the necessary amended financial reports on Sept. 30, 2008.

In short, there was considerably more affecting Force Protection's share price than fails-to-deliver, which were insignificant and transient by October of last year, but apparently Mr. Byrne's notion of journalistic integrity does not extend to mentioning things that do not fit with his on-the-fly propaganda.

In any event, given Mr. Byrne's record of quiet postpublication editing, the claim that a March 1 article was an inadvertently released draft might strike some people as strangely out of character.

Skunky smell

Mr. Byrne opens both the original and the slightly revised March 1 article by remarking that he is "pretty sure that someone out there wants the finance system to crack."

"Not that anyone's wrong to suspect it might crack: I'm the last guy on the planet that can be accused of being Dr. Pangloss, " Mr. Byrne continues. "Not that they are wrong to decry the regulatory and political oversight of our finance system in general and the shenanigans of Wall Street in particular: the name of this blog is, after all, 'DeepCapture.com.'

"But for four years I've been eagerly flushing the handle while watching these guys circle the bowl. In that time I've developed a sense of how they move. I'm pretty sure now that their orders are, quite simply, to crack the system."

In partial support of that claim, Mr. Byrne points to a Feb. 27 New York Times column by Mr. Nocera that, as Mr. Byrne puts it, "basically says AIG has the financial world by the throat and that as they die they'll take the rest of the world with them."

"Maybe so," Mr. Byrne continues in the original piece. "But one would think that Nocera would be able to draw on better sources than Donn Vickrey and Frank Portnoy."

Mr. Byrne and Mr. Vickrey have a bit of history that even predates Overstock.com's subsequently settled lawsuit against Mr. Vickrey and his research firm, Gradient Analytics, which was filed in August of 2005.

Some sense of the strained relationship is evident in a widely publicized e-mail Mr. Byrne sent to Mr. Vickrey in 2004.

"Donn, you make a living toadying to bully hedge funds," Mr. Byrne wrote. "You deserve to be whipped, fucked and driven from the land."

Apparently the later conciliatory tone accorded Gradient Analytics when Overstock.com announced the confidential settlement of the lawsuit and counter suit last October did not extend to Mr. Vickrey.

"I wish Gradient Analytics the best in their future endeavors," Mr. Byrne said on Oct. 13, 2008.

According to Mr. Byrne's March 1 article, Mr. Nocera's continued use of Mr. Vickrey as a source "is a disgrace."

"That Nocera quotes shamelessly from him (Mr. Vickrey) and fellow hedge fund squeegee-boy Frank Portnoy signals that the gang is back in town," Mr. Byrne fumed in the original March 1 article.

Evidently Mr. Byrne later realized that Mr. Nocera had not drawn anything at all from Frank Portnoy. In fact, Mr. Nocera quoted someone else entirely who just happened to have a similar name; specifically, Frank Partnoy, a University of San Diego law professor and derivatives expert.

When Mr. Byrne cleaned up his March 1 story, the incorrect references to Mr. Portnoy disappeared.

The balance of Mr. Byrne's story, original and revised, focuses on what he characterizes as a "hit parade" of articles about Warren Buffet and his company, Berkshire Hathaway Inc.

"As some readers may be aware, I have known Mr. Buffett since I was a lad, and after my parents, he has been perhaps my greatest teacher in life (which is certainly not to imply any endorsement from him on this Mitzvah of mine)," Mr. Byrne remarks.

Indeed, the notion that he learned at the knee of Mr. Buffet is an oft-cited bit of lore among Mr. Byrne's following of naked short selling conspiracists.

The disclaimer about the mention of that relationship not implying any endorsement of his crusade by Mr. Buffet is gratuitous, at best. After all, Mr. Buffet's Berkshire Hathaway has more than $37-billion in put contracts spread across four major indices, so it is not likely that he believes that the financial markets are in danger of being destroyed by naked short selling.

In any event, Mr. Byrne suggests that recent doomsday predictions and what he sees as attacks on Mr. Buffet make it appear to him that "certain folks have piled up a lot of favors in a favor bank, are short the market, and are using these HandiWipe journalists to crack it for them."

"As I said, no one can claim that I am being Panglossian: few have been out there arguing as loud and long as I that the sky might fall," Mr. Byrne writes. "But right at this moment, I smell skunk."

Meanwhile, investors sniffing around Overstock.com have not exactly been trampling each other in a rush to pick up shares of Mr. Byrne's money-losing company. Overstock.com closed at $7.88 on March 6.

Comments regarding this article may be sent to lwebb@stockwatch.com.

(More information regarding Overstock.com Inc. is available in a Stockwatch articles published on Feb. 20 and 27, 2009.)

Reader Comments - Comments are open and unmoderated, although libelous remarks, including names, may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.

Blah blah blah.....

The transparency here is amazing. Its either attacking Byrne or pumping worthless diamond stocks.

....still no uptick rule, can you figure out why?

Posted by SCUMBAGS ALL @ 2009-03-06 20:57

"But for four years I've been eagerly flushing the handle while watching these guys circle the bowl."

He's been doing that to his shareholders for a lot more than four years.

Posted by James R. Brownfield @ 2009-03-07 11:07

Thumbs up to Mr. Webb, especially for catching the Partnoy's complaint.

Posted by Irish.Eyes @ 2009-03-07 11:35

More Wacky Patty rants!! Some things never change! That slug never met a fact he couldn't misrepresent!

BTW, I'd say Patty has some sexual problems with his constant silly oblique references to sexual things. That nutjob must hyave had some wicked potty training! At the feet of Warren Buffet, of course!

The SEC needs to step up to the facts that Sam Antar and others have presented and shut that perp down!

Posted by Judd @ 2009-03-07 11:55

Sam Antar is a liar and a thief, he cheated investors out of hundreds of millions. Who does this freak think he is pointing his dirty finger at others?

Posted by Antar belongs in jail @ 2009-03-07 12:04

There are many things WE are not at liberty to tell you. But, miscreants: be it known that your day is fast approaching. We might all be living under a bridge somewhere as a result of the war that is being waged on our financial system, but as a result of that war, there will be a lot of famous names in some prison, somewhere soon. In my heart of hearts, I envision the good Dr. Patrick Michael Byrne leading us to that prison and allowing us to take out our frustrations and desires for justice on these un-forgiven captives. All I want is to be a part of it in some small way. We'll see, won't we???? I can wait. I have been shown information that you and your friends are never going to be qualified to see or allowed to alter with your inside players. I know what is in store for the evil scum that are bent on ruining our world. We have a little something for you boys. Be ready for us.

Obama is an empty suit. That's pretty obvious. Just ask yourself why they had Stanford employees inside of FINRA. Yeah, inside. See, we knew that, you didn't. But we did. You may have won some battles, but we will win this war. In fact, that information on Stanford we had was minor in comparison to what is about to break. Stanford isn't anything we didn't know about before. At least now, you've heard. Again, we are very lucky we have a leader in front of us on the magnitude of Patrick Byrne. In the end, I think we win. Not everybody will be so lucky. That's why you have to join us now. We will not pluck you from the fires when the end days come. You have to be with us today to be among the chosen few tomorrow.

You may wonder why there are many things I am not at liberty to tell you. I'm just trying to imagine the hedge fund boys and trading desk managers who read these posts squirming in their seats and fearing our information. You need to be afraid. We have you. We won. You can rest assured that a judgment day is fast approaching. I hope that's enough to ruin your day as you have ruined so many of mine.

Posted by lenofus @ 2009-03-07 13:22

Let's not get into wicked potty training stories over here. I am certain Patrick's mother had very little to do with why he's the way he is now. It's a matter of "can't fill daddy's shoes and never will."

What I want to know is how much influence he has over Governor Huntsman's intiative to recognize same sex civil unions. Perhaps that's his next crusade since the charter schools one failed.

Posted by Sigmund'sSlipperySlope @ 2009-03-07 14:39

Lee, what caused this sudden obsession with poor little old Overstock? somebody up north a little scared?

There isn't a single thing you have covered that is new and yet in a matter of 2 weeks you have conducted 3 hatchet jobs. Do you not recognize that Byrne has been rather quiet lately, that even those before you have dropped the baton and moved on (except for Crazy Sam that is), or that the capital markets as a whole and big companies in specific are in major turmoil? Did you see that Citibank is a penny stock and GM is talking bankruptcy? Did you notice that GE is being sued over comments one week stating the dividend is in solid standing only to have it eliminated weeks later?

with 14,000 or so public companies trading the various markets, maybe you can enlighten us on why this sudden obsession into overstock. Come clean Lee, we know your affiliation with Floyd Schneider, and his documented affiliation with Gary Weiss, and his documented affiliation with Sam Antar and...all their obsession with Overstock, so is this round of hatchet jobs picking up the slack for them? Is there a minimum number of these you are required to put out?

Can you find out whether Byrne wears briefs or boxers? Your obsession with him and sex may make that a valuable piece of insight for your next round of BS.

Posted by dave @ 2009-03-07 20:44

Patch,

What you don't see the CEO's of Citibank, General Motors, and General Electric doing is blaming their woes on "naked short selling".

Overstock.com is an especially interesting case because their dick-head CEO has adopted the shady tactics of a number of penny-stock touting crooks who use the "naked short seller" story as a means of deflecting attention away from shoddy business practices and unethical behavior.

Posted by James R. Brownfield @ 2009-03-07 21:06

Inadvertent posting to Deep Capture? What blog engine is being used? Publishing posts with most blog engines is a pretty deliberate set of steps. And where is that "managing partner" of theirs? I guess when you've got a boss like Patrick Byrne, and rather limited career options outside of that as a paid blogger, you let any old crap out the door bossman wants. There was no "inadvertent" posting. The larger issue is this: Patrick Bryne has repeatedly demonstrated that he has great difficulty in getting anything right the first time. Not in his company's financial statements, or regulatory compliance, or in his published ramblings - anonymous or otherwise. Bryne struggles separating fact from fantasy. Just ask the Russian Mob, or CNBC reporters.

Speaking of fantasy - "[Bryne] is not currently under any psychiatric care". This part of the problem. And note the word "currently".

Regarding Buffet, the mentor of lad Bryne, WB was not impressed by the kool-aid cause during the 2007 Berkshire shareholders meeting:

"Question: What can be done to make Wall Street deliver stocks they've sold but never delivered?

Buffett: Yeah, that they've never delivered, and naked shorting is the question. I've never asked a broker to give me a stock and had them decline it. I see no problem at all with people shorting stock…I would welcome people shorting Berkshire. I have no problem with shorts. If someone wants to naked short Berkshire, we'd be happy -- we'd have a special meeting for them. The shorts have a tougher time in this world. I do not see shorts as any great threat to the world. On USG, when it got hammered after bankruptcy, one large brokerage firm came to us and wanted us to lend them millions of shares and paid us a lot of money, and we happily lent them and wished they had borrowed more. It is very easy to spot phony stocks, but it is hard to tell when they will turn around.

Charlie Munger: Those delays in delivering sometimes reflect tremendous slop in the clearance process. It is not good for a civilization to have huge slop. Sort of like how it isn't good to have a lot of slop in nuclear power plants.

WB: Now, reach back into your law practice Charlie. If I buy GM and they don't deliver, what is situation?

CM: Well, if you are a private customer, you may have to wait awhile."

PS. This post was deliberate. I have witnesses.

Posted by Philosifur @ 2009-03-07 23:07

Patchie:

Were you ever arrested?

Have you stalked journalists using your employer's email?

Posted by Ghost @ 2009-03-08 06:09

Lenny, are you being serious or just shucking and jiving us?

Posted by Judd @ 2009-03-08 17:17

Lenny! PLEASE! Knock off the breathtaking threats of the WONDROUS new revelations YOU promise.

Very child-like. Plus who gives two schmits about your (plural) wacky NSS Conspiracy Theories! Dang Sith Lord and his CNBC FAX Machine!!

Lenny, the only information you haver been shown is your low mental scores. Live with them, moron. And I surely hope you do visit prison to see Wacky Patty! Say, how is OSTK doing these days? And NO RECENT NAKED SHORTING, I am told (and likely none significant before!!)!

So what is OSTK PPS these days? Down from $40 in December 2007 to $7.88 Friday??? OUCH!!!! Pssst, will Wacky Patty have to restate the restatement he had to restate?? Gadzooks! That bad revenue recognition thingie? Yowzee!!

And everybody loves you vivid but bizarre imagination regarding:

"I'm just trying to imagine the hedge fund boys and trading desk managers who read these posts squirming in their seats and fearing our information."

Lenny, I think that the squirming you seem so downright giddy about (I hope it is not a sexual thingie like Wacky Patty's Scholarly, Journalistic Tomes! (NOT!)) is due to hilarious rantings and delusions of you (singular) and the other Wack Pack flunkies!! Hard for them to sit still with guffaws, hee haws and screams of hilarity eminating from them, Lenny!!

Lenny, are you some cheap penny scam shill who supports fraud and Pump and Dump Scams? Ahhh, thought so. Can you list all the scams, er, ... well, ... uhh, ... NSS Violated penny stocks you participated with?? TIA, Lenny.

Posted by Mark @ 2009-03-08 17:21

Patchie, How is that SEC IG Investigation thing going. Seems they think you misled them and nothing you gave them was worth two twits! (Ooops, I did NOT mean Mark and Judd! Well, OK, I did!)

Patchie you are so pathetic in all of this NSS nonsense that you make Mark and Judd look like Rocket Scientists. And Wacky Patty, you make him look like just what he is: Wacky Patty!

(Psst, what's with his sexual rantings? I am shocked by his sexual identity crisis being such a public thing!)

PS Why does GE allow you to use GE PCs and time to run your penny scam actions? No wonder they are in Penny Stock Land.

Posted by Judd @ 2009-03-08 17:30

Looks like the low life scum that are part of the massive naked short fraudsters have found a home here with Lee Webb and Sam Antar the convicted felon.

How nice.

Posted by not surprised @ 2009-03-09 02:32

What a strange story. Keep digging, Lee.

Posted by Franz Guss @ 2009-03-09 02:40

Pt 2

Quit shooting messengers. Lee is just reporting the obvious and the facts. Can YOU point out any "lies" in the above article? Please do so, if that's the case.

As to Antar, yes he is a Convicted Felon. He freely advertises that. He also "whistle-blew" and you Wacks like to rant about whistle-blowing being good and the whistle-blowers being Heroes. So he is obviously meeting your definition of Hero. And he did his "time for his crime"! He also has spoken in front of LEA, Ag's, Frauds Seminars etc about fraud in the marketplace. Has Wacky Patty EVER done the same thing? Ranting on DeepKaputDOTcom does NOT count especially since "Articles" there keep getting revised. Hmm, revised like OSTK FSs! A pattern? Wacky Patty seems to like to do his "seminars" and "Consulting" in dingy bars with Russian Hit men in LI, eh?

So get over your Antar hang-up before you pick up the Wack pack habit of going sexual with strange and weird homophobic fantasies and claims!! That is so yucky and schoolyardish, not surprised! Sure, Wacky Patty plays that card well, but then...

I hope I have been of some help in your serious surprise problem!

Posted by BuggsyB @ 2009-03-09 10:21

Pt 1 soon...

Posted by BuggsyB @ 2009-03-09 10:21

not surprised, but can you point out any Companies, especially Penny Stock Companies, which hav+e been put out of business by NSS? And to save time, CMKX, USXP, PCBM, HQNT, SLJB and that similar+ pot pouri of slime penny companies WERE NOT NSS!! Just common, run of the mill PD by conmen CEOs, like Altomare, Vucicevich, Doogie, etc, happily defrauding delusional, gullible and greedy bagholders whose only DD was Delusion and Dopiness!

So, proof of Naked Shorting in Penny Stocks please. And speaking of OSTK, I suspect crazed, irrational management more than NSS!! And bad financial statements!! You might be "surprised" with the truth!

Posted by BuggsyB @ 2009-03-09 10:27

Why does an ampersand show up as an HTML error? Strange

Posted by BuggsyB @ 2009-03-09 10:31

Lee/AKA lilGary, is sure packin the water for someone these days. Must be sumthin up eh.

Posted by Ron Doc @ 2009-03-09 15:39

Yeah, the stench of OSTK and it's Intimidators is surely up!

Posted by Judd @ 2009-03-09 15:40

I wonder why the BCSC morons haven't shut this diamond promoting electronic boiler room down yet? I mean ... how obvious can you be? Pathetic. Someone should investigate the offshore phone calls and travel diaries of these birds to track where all their money is hidden.

Posted by Pump them Diamond Deals Boys @ 2009-03-09 16:08

I wonder why the BCSC morons haven't shut this diamond promoting electronic boiler room down yet? I mean ... how obvious can you be? Pathetic. Someone should investigate the offshore phone calls and travel diaries of these birds to track where all their money is hidden.

Posted by Pump them Diamond Deals Boys @ 2009-03-09 16:08

BuggsyB, yeah right! Naked shorting is just a figment of our collective imaginations. Maybe you can explain Global Links phenomenon of trading its capitalization several times over on the first day of trading. How was this possible?

http://video.google.com/videoplay?docid=4490541725797746038

Posted by not surprised @ 2009-03-09 17:33

I can't believe someone was stupid enough to bring up the Global Links pump and dump scam.

http://nakedshortlie.blogspot.com/2005/04/global-links-corp.html

Just goes to show you what kind of idiots and criminals will repeat the "naked short seller" lie.

Posted by James R. Brownfield @ 2009-03-09 17:51

I like candy!

Posted by patchie @ 2009-03-09 18:41

Dave:

Come clean Lee, we know your affiliation with Floyd Schneider, and his documented affiliation with Gary Weiss, and his documented affiliation with Sam Antar and...all their obsession with Overstock, so is this round of hatchet jobs picking up the slack for them?

I have no idea just who you are including in your "we," but please feel free to enlighten those who are not part of the collective about my affiliation with Floyd Schneider.

Lee

Posted by Lee M. Webb @ 2009-03-09 20:52

James:

I can't believe someone was stupid enough to bring up the Global Links pump and dump scam.

I am surprised that Dave Patch was not the one to mention Global Links, but perhaps his position on that company has changed since the time he wanted to know why I did not "write about the failures that drove the market cap of Global Links into the abyss on massive settlement failure dilution."

Lee

Posted by Lee M. Webb @ 2009-03-09 21:04

My faux pas, I should have known better. I named Global Links as a public example and it was a poor choice. It's unfortunate that there are pump and dump artists that muddy the waters for the legitimate companies that have been victimized by these nefarious practices.

I do know of a company where there is ample evidence of a naked short fraud that has been perpetuated on a massive scale against the unsuspecting shareholders of this company that for obvious reasons I will not disclose at this time.

I do know what I speak of.

Posted by not surprised @ 2009-03-09 21:51

The reporter of this article seems to think that revising or otherwise editing a piece after initial publication on the web is some kind of cardinal sin.

Why?

The relentless focus here is on the Overstock CEO correcting errors or revising misstatements after he became aware of new information. Wouldn't it be worse if he left errors out there once they were brought to his attention?

Thus this whole Stockwatch hit piece seems rather thin to me. Editing already-published pieces is par for the course on the web. The New York Times, for example, does it all the time; I know, because my RSS reader flags all such changes when I download feeds.

So it looks a lot to me like the Stockwatch author didn't have adequate goods to go after the Overstock whistleblower, so this editing red herring was blown up into some cardinal sin. It isn't, at least not to this reader.

Posted by Charles Squab @ 2009-03-10 01:09

Drinking and blogging late at night can be dangerous sport.

Posted by Phat Dean (on the soup line) @ 2009-03-10 07:20

not surprised:

Double secret probation for your naked short "victim"?

Now I'm the one who's "not surprised".

Posted by James R. Brownfield @ 2009-03-10 08:09

One of the big Canadian dirt balls must be feeling some heat. Now stockwatch is e-blasting the negitive Overstock.com hit piece to all of their email list.

Leroy boy, who is paying you for this full court press against Patrick and Co.?

OK LEROY, THIS IS WHERE YOU Deny,Deny and Deny!

Posted by Ron Doc @ 2009-03-10 08:53

You have no shame.

Disgusting how some of you kosher kreeps kollude in kabalistic ways to deny naked shorting.

Your time to burn is nearing.

Posted by jim @ 2009-03-10 10:26

"The last time I saw a threatening letter from these knuckleheads was from the General Counsel of TheStreet.com, directed at Dave Patch. There were a series of them, threatening lawsuits. I hired a lawyer for Patch, and the lawyer responded simply, Go ahead and sue: the first thing we are going to do in discovery is demand the personal financial statements of certain journalist(s) associated with TheStreet.com (you guess which one[s])".

"You know what? They never wrote back."

"Patrick"

http://boards.fool.com/Message.asp?mid=26599856

Posted by CometoDaddy @ 2009-03-10 11:29

Oh please, not surprised! Now I AM NOT SURPRISED!!!

I do know of a company where there is ample evidence of a naked short fraud that has been perpetuated on a massive scale against the unsuspecting shareholders of this company that for obvious reasons I will not disclose at this time.

And I have proof that Pigs CAN Fly, that for obvious reasons I will not disclose at this time!

Are you kidding??? If you had no clue that Global Links was a smelly scam with shills like Patch assisting in the fraud, then you know very little. And your support of OSTK and the Intimidation Infants is equally as absurd!! Get a life elseware, please.

PS Did you know that Patchie is a current GE Employee??? I wonder if Jeff Immelt knows? Maybe Patch and other GE employee scammers like him caused GE to drop to Penny Stock land???

Posted by BuggsyB @ 2009-03-10 12:57

Jim

Are you the same disgusting, hatefilled Racist who frequently hurls Anti-Semetic remarks and accusations against Gary Weiss? What a Pig you are.

Posted by BuggsyB @ 2009-03-10 13:00

U.S. Rep. Barney Frank, chairman of the House financial services committee, said he expects the uptick rule to be restored in about a month. The rule slows the pace of short selling and could help calm volatile markets.

"There's been significant short covering in the financials today as a result of comments from Citi's chairman lending a stronger tone to the financials overall," said Michael James, senior trader at regional investment bank Wedbush Morgan in Los Angeles.

"The uptick rule possibly going back into effect would also be a significant positive for the financials. It would make it harder to short stocks and you'll probably see further short-covering today."

MAYBE THIS EXPLAINS WHY SHORTS ARE SQUIRMING BIG TIME!

Posted by ITS ABOUT TIME! @ 2009-03-10 13:13

I used to take you seriously. Now I know better.

Posted by grassyass amigo @ 2009-03-10 13:44

My faux pas, I should have known better. I named Global Links as a public example and it was a poor choice. It's unfortunate that there are pump and dump artists that muddy the waters for the legitimate companies that have been victimized by these nefarious practices.

I do know of a company where there is ample evidence of a naked short fraud that has been perpetuated on a massive scale against the unsuspecting shareholders of this company that for obvious reasons I will not disclose at this time.

I do know what I speak of.

Posted by not surprised @ 2009-03-10 15:16

BuggsyB, yeah right! Naked shorting is just a figment of our collective imaginations. Maybe you can explain Global Links phenomenon of trading its capitalization several times over on the first day of trading. How was this possible?

http://video.google.com/videoplay?docid=4490541725797746038

Posted by not surprised @ 2009-03-10 15:16

Don't know why these old posts have been reposted?

Posted by not surprised @ 2009-03-10 15:26

Hey Lee... should I let everyone know how we know each other? I believe it was through good ole Floydie! Plan on settling your debit anytime soon?

Posted by LGT Account Rep @ 2009-03-10 16:51

I'd go with, "Because they are a twofer! Stupid and Entertaining!

What a Patty Butt Sniffer you are. Quit reposting your delusions, please!

Posted by Judd @ 2009-03-10 17:49

Me thinks BuggsyB is feeling a little hostile these days. Could it be that no one takes Sam E. Antar (former Crazy Eddie CFO and a convicted felon) seriously? I think so.

p.s. Judd there is a trailer park looking for their resident idiot. Run along now.

Posted by not surprised @ 2009-03-10 21:00

Sorry to say but as sleezy corrupt and criminal as is Patrick Byrne - Antar can't be trusted either and of course not Murdoch's and Steve Forbes' boy Roddy Boyd.Boyd actually advertantly or inadvertently promoted Thomas Ronk's naked short scam 'software' and thus at times has done more to confuse the fraudulent 'naked short selling' claim started as far as I can tell by James Dale Davidson of Steve Forbes' National Taxpayers Union as his Canadian sidekicks Brent Pierce and Grant Atkins around 2002. Remember NAANSS or National Association Against Naked Short Selling that was located in Blaine,Washington along with the Genmemax pump and dump operation they ran together ? So Patrick Byrne's NCANS is just a plagiarism of Davidson's fraudulent NAANSS.Also don't forget ex SEC Chair Chris Cox aided and abetted the fraudulent claim and did a Bloomberg video or 'mis-infomercial with Georgetown's James Angel and Houston billionaire attorney John O'Quinn and I forghet qwho else - oh yeah Patrick himself of course.And why did Steve Forbes go out of his way to warn the kiddies at that New Jersey high school about the evils of 'naked short selling' a short while ago ? Lee Webb,you have done a good job of exposing CMKX Diamonds and I belive other pump and dump scams that erroneously claimed they were victims of naked shorting(a term made up out of thin air by Beltway connectee far right crooks in my opinion),so why haven't you covered the claim od ex U.S. SEC Chair Cox that Fannie Mae and Freddie Mac were 'naked shorted' ? You might learn something..... So while I detest Byrne and Bud Burrel and 'Bob O'Brien' and all the anonymous fraudsters in the NCANS fraud I also see there very critics in established media such as Boyd and Gary Weiss appear to have another agenda aside from real truth and exposur of all making the claim including Steve Forbes and Rupert Murdoch's Australian and London rags that have taken the 'naked short' term of U.S. penny stock fraud to those countries.Oh yeah and Al Jazeera also allowed that scamster what's his name whgo used to short coca cola to due a 'naked short' video their a while back.Eh,how do they say 'naked shorting' in Arabic or Hebrew for that matter ?

Posted by Tony Ryals @ 2009-03-10 22:05

So Tony Ryals...I see you took time off from chasing boys to add your dirty words to your buddy Lee's blog. Or would that be LilGary?

Posted by Ron Doc @ 2009-03-11 08:16

BuggsyB, kosher is not a race, therefore there is no racial slight.

But while we're at it, why is it that most of you shorting criminals are of a particular persuasion anyway?

And describe, if you would, the nexus between your type and the russian/israeli mobs, please.

Thanks so much.

Posted by Jim @ 2009-03-11 09:53

LOL Jim,

You are a slimey racist. live with it!

Posted by BuggsyB @ 2009-03-11 12:12

OK, FINE. NOW ANSWER THE QUESTIONS.

Posted by Jim @ 2009-03-11 14:56

The only thing that can be said about ' Ron Doc' besides his cowardice in hiding behind an alias is that he approves and no doubt is part of NCANS and 'Bobo' O'Brien's 'THESANITYCHECK.CON',and that he approves of Bud Burrell's lies and threats and harrassment against me. Don't you scumbag ? What would it matter if I were a 'transvestite' as Burrell the SEC protected scumbag claims ? Also strange his 'pedophilia'lie about me came at the same time I wrote about the very real connection between Israeli Prime Minister Ehud Olmert and Michael Zwebner of 'UCSY' or now 'AWTI' who hired a male prostitute in Miami with money from their 'air water machine' fraud.And their stock touter Michael Cunningham has defended pedophilia on Zwebner's ragingbull.con pump site as well as made death threats just as your group has 'Ron Doc'.Internet fraud and hiding behind aliases to comit fraud as you do 'Ron Doc' should be prosecuted to the fullest extent of the law. Why don't you enlighten me as to the origen of the term 'naked shorting' and tell us all who first used the term.(Why did they use 'naked' rather than 'negative short selling(a term I made up),for instance ? Who created the term and in what year ? Why not just say stock counrterfeitting ? Did they win a Nobel ? If you can only repeat Bud Burrell's SEC protected lies you are part of the fraud not the solution. And just because you are a con artist ,Ron Doc,doesn't mean that Gary Weiss and his employer Steve Forbes aren't as well and working just as hard as you and Patrick Byrne and 'Bob O'Brien' to protect James Dale Davidson and both sides confuse the real issues AND THE TERM 'NAKED SHORTING' and like Weiss' employer Steve Forbes provide no proof for 'naked shorting' because all stocks you involve yourselves with are money laundering pump and dump scams. Had Fannie Mae and Freddie Mac or the Nova Star(NFI) mortgage scam you all pumped and dumped on Yahoo really been 'naked shorted' as you claimed-lyed about then some investors would have complained of not receiving dividends because their shares would have been 'counterfeit'.This never happened so your group are frauds and liars and SEC ex Chair Christopher Cox was a liar when he said Fannie Mae and Freddie Mac weere 'naked shorted'. ¿Capische? (How does one say Capische in Arabic or Hebrew or in Russian mafia which I guess as much a part of Israel nowadays as it is Russian ? Personally I'm about as mad now about ICTS International and Securacom stock frauds operated by ex Israeli military and Marvin Bush and Kuwait Al Sabah royalty guarding Logan Airport Boston and Dulles Airport etc. on 9/11 as I am about your RICO stock frauds Mr. 'Ron Doc'....Are you related to Tex-ass Repugnicon Ron Paul who also lied to the SEC about the dangers of 'naked shorting' ? Oh it might be added that Wikipedia and Bimbo Wales,its self proclaimed founder and ex Chicago Mercantile con man, is allowing scum like Gary Weiss and his nemesis Patrick Byrne to BOTH post mis-information there(i.e.-lies).It should be noted that both Gary Weiss gang and the Patrick Byrne's gang both agreed to censorship all mention of James Dale Davidson's involvement with NAANSS on Wikipedia and both gangs were in agreement about protecting Steve Forbes' National Taxpayers Union and Agora Inc penny stock 'holding company' founder . Why ? And did Jimbo Wales get all those donations at the end of last year for aiding stock fraud and giving good reviews of scam 'businesses' on Wikipedia or 'vanity' bios such as Gary Weiss' bio written by alioas 'Mantanmoreland' who also censored James Dale Davidson's bio !? ? Worth investigating but neither the Sam Antar-Gary Weiss-Steve Forbes gang nor their nemsises at Overstock.con can be trusted as you can see below. Gary's own Wikipedia biographer was involved in removing material I posted there critical of Jim Davidson and Patrick Byrne's gang approved of THAT Gary Weiss dirty trick. Why !?

So both sides have sided against me who was defrauded in David P Summers'(a Beltway banker who lied about being a biotech genius),James Dale Davidson's and Ukranian-Israeli Grin brothers' Stanford University connevted Endovasc fraud because they both have their own vested interest in stock fraud - NOT ENDING IT.And on 9/11 shares of Endovasc rose 500% or so as if in celebration.Why !?

http://www.phillyimc.org/en/steve-forbes-brings-economic-pornography-wardlaw-hartridge-high-school-students

Steve Forbes Brings Economic Pornography To Wardlaw-Hartridge High School Students

The earliest usage for the term 'naked short selling' or 'naked shorting' I have been able to verify is from an email to the U.S. SEC IN 1999.No academic or securities professional ever used it previously and Patrick Byrne's NCANS representative gave the Cheetah Club lap dance club in Las Vegas' address when a website was opened for that fraud in 2004 or 2005.I believe that had a professional or academic coined a term for counterfeitting of shares it might have been 'negative short selling' but because it was created by a Washington,D.C. mafia composed of social perverts 'naked' was the only thing they could come up with. And Steve Forbes gives new meaning to the word pervert.....

...........................

http://neworleans.indymedia.org/news/2007/12/11641.php

Forbes on Wikipedia:Gary Weiss 'Edits' James Dale Davidson's and His Own Biography by Tony Ryals Monday, Dec. 17, 2007 at 1:09 PM endoscam@lycos.com

Even Davidson's more recent 'biotech' penny stock scam Pluristem was not added to MantanMoreland's Davidson Wikipedia biography - but with reason - that's why he deleted my Davidson bio contribution in the first place - to censor the subject and facts about Davidson on Wikipedia.Too bad Gary Weiss' boss, Steve Forbes,encourages this type of irresponsible corporate behavior in its employees just as Gary Weiss encourages such behavior in his Wikipedia biographer MantanMoreland !.....

Posted by Tony Ryals @ 2009-03-11 23:00

My name Tony...we all know your game.

Posted by Ron Doc @ 2009-03-11 23:34

Answer, Jim, is that you are a sick anti-semetic fool. Shame on you!

Posted by BuggsyB @ 2009-03-12 10:11

BuggsyB, what kind of person committed the biggest financial fraud in history?

LOL

Posted by Dr. Golan @ 2009-03-12 11:13

Hmm, let's see. An overweight white guy? Oy Vey!

PS What is the ethnic and religious make-up of our US Prison System? Oy Gevalt, scmuck!

Posted by BuggsyB @ 2009-03-12 12:31

Then don't be coy, not surprised. Post the company, or are you afraid of being shot down yet again?

Posted by Star the Wonder Pup @ 2009-03-12 15:07

Star, the Whack Pack is here spewing their normal crap. Lenofus even has Really Big Speshal Sekrats he can't tell us, you know! (Psst, I think his Whack Pack Decoder ring is all broked up! Poor baby!)

Posted by BuggsyB @ 2009-03-12 18:16

OSTK up over $2 per share in the past week, shorts will be forced to cover at much higher prices, they aren't very bright, are they?

Posted by Uptick rule coming! @ 2009-03-12 19:03

Oh uptick, don't be so silly! The short is minimal and no big deal! OSTK is a stinker. Bury your wealth in it, dope! You da man!!

Posted by Judd @ 2009-03-12 19:40

Anyone who bought OSTK in the $7's is making good money right now, Judd, learn how to make money, idiot!

Posted by Uptick rule coming! @ 2009-03-12 22:35

These sillies(the Gary Weiss gang and Patrick Byrne's fraudulent wingnut bozos),always play 'semite vs. anti-semite' when stock manipulation is ALWAYS their game.For instance the 'reformed' stock crook Sam Antar gave his hypocritical pal and fellow convicted stock scamster in San Diego,(who is now a good 'christian' as well as a continuing stock speculator while pretending to be a crusader,as his pal Antar also does,to draw attention from his shorting schemes).Sam(not to be confused with son of,I don't think),actually fronted around $300,000 to his San Diego friend to short stocks they were writing about! And Antar actually shorts stocks he writes about ! So two gangs of fraudsters do not an honest gang make..... And where did Sam Antar get $300,000 to front his San Diego buddie much less to speculate in stock shorting himself !? Does this mean the 'reformed' stock crook Sam Antar made resititution to all those he defrauded and whose money he sent to Israel,Lichtenstein,Panama,etc. !? Did he discover an oil well in his backyard !? And when will they wake up ralise most Jews if that's their definition of 'semites- ARE WHITE GUYS AND ARE MORE LIKELY TO HAVE ORIGINATED IN rUSSIA OR EASTERN EURPOPE THAN IN THE MIDDLE EAST ?! And this is certainly no endorsement of the Utah Morons such as Senator Bob Bennett and Orrin Hatch who aid and abet Patrick Byrne and other wignuts Mormon or not in their penny stock frauds,Global Links only one among many !? But hey,like I said,at least they all love James Dale Davidson.......

Posted by Tony Ryals @ 2009-03-13 00:07

Hey weasle-bag,go back to stalking young boys.

I can only hope one of the fathers gets to you before you harm another boy.

Posted by Ron Doc @ 2009-03-13 08:58

Hey Papa Doc,mellow out...You lie about everything including naked shorting and you know it don't you ? Why not have your fellow RICO crime partner Bud Burrell come over here and repeat his lies himself ?

I'd say Ron Paul is the pedophile of investors(and women who wish to make their own birth control decicions without him or the pope)just like his pal James Dale Davidson.In fact it was no coincidence that they both showed up for that Fraud Freedom Fest of Mark Skousen,et.al. in Nevada a while back where Jim Davidson bragged of buying a Brazilian prostitute-wife on the money of his Steve Forbes endorsed penny stock fraud and money laundering activities out of the National Taxpayers office a few blocks from the SEC headquarters in corrupt decadent Alexandria, Virgina. It was shortly after that wingnut penny stock fraud gathering that Ron Paul wrote to the SEC about the dangers of naked short selling.Ron Paul and his pal J.D.Davidson SURE ARE SCUMBAGS JUST LIKE YOU AREN'T THEY Ron Dic ? I'm sure Ron Paul would be proud knowing you are out on the internet using his name as your alias to continue and promote his RICO crimes.

Hey Pappa Doc,did you invest in James Dale Davidson's, Frank Carlucci's(Carlyle) and their Israeli fascists' Pluristem pump and dump fraud that claims to get stem cells from fetuses that Frank Carlucci finds in Afghanistan and Iraq ?I heard it was 'naked shorted' as well even though the scam was touted out of Steve Forbes and Jim Davidson's own NTU office near Chris Cox's SEC. Go figure... Oh by the by,do you happen to know what the 'natural cause' of death of John Berthoud of the National Taxpayers Union was ? Did't he attend at least one of Skousen's Fraud Freedom Fests as well ? Strange he was 45 and while Davidson's NTU goons found him 'at peace' in his home no one explained what the 'natural' death he died was caused by.Maybe its unhealthy to know to much about James Dale Davidson's stock fraud and money laundering activities ? And he died while Davidson was touting Pluristem out of that same address......Funny that Davidson who wrote a eulogy to Ezra Pound upon Pound's death in 1973 would work with Israeli criminals using ex Treasury Sec John Snow's,Dan Quayle's and Stephen Feinberg's and Kellogg Brown and Root using Cerberus Hedge Fund's Leumi Bank in Israel to do so.He must be quite pleased Leumi has sttod up to those greedy holocaust victims who dared ask their Leumi money laundering bank to pay them what their owed....So you can sukk Frank Carlucci's and Davidson's private parts all you want Ron Doc or maybe they'll pimp you out to Michael Zwebner who needs more gay prostititutes for his and Israeli PM Ehud Olmert's Miami AWTI 'business' partners......

http://www.liberty-watch.com/volume03/issue05/frenchconnection.php

LewRockwell.com and AntiWar.com webmiester Eric A. Garris called Saturday 7-7-07 “Ron Paul Day at FreedomFest in Las Vegas,” on the LRC blog. “Ron Paul has been the hottest topic among the close to 1,000 attendees,” Garris wrote....... For instance, while Ron Paul spoke to 600 people on “How To Win Without Compromising,” I was among just a few folks hoping to learn something from the legendary investor and author James Dale Davidson, who wrote The Sovereign Individual, The Great Reckoning, and Blood in the Streets.

Davidson’s speech title was the most intriguing of the entire conference: “How to Become a Billionaire by Marrying Miss Brazil!” Unfortunately, I wasted 30 minutes as Davidson babbled on about getting divorced and at age 58 meeting the 27 year-old Miss Brazil, and marrying her. The only penetrating insight he imparted was that if you are an old single guy and have a chance to marry a young Brazilian beauty queen — go for it!

Mark Skousen - Wikipedia, the free encyclopedia - Skousen was an economic analyst for the CIA from 1972 to 1975. ... The festival, which began in 2002 and meets every July in Las Vegas, Nevada, ... [19] At FreedomFest 2007, Skousen announced the creation of the Free Market Hall of Fame ... en.wikipedia.org/wiki/Mark_Skousen

Nevada welcomes Ron Paul / Freedom Fest

Posted by Tony Ryals @ 2009-03-13 14:31

A revolution may be coming in the finacial world. Can only hope we get to see the little boy chasing weasle-bags head displayed in a sharp pointed stick.

My name...try again.

Think hard so you don't get surprised.

Posted by Ron Doc @ 2009-03-13 15:25

This is the type of father one of your young boy victims will have one of these days weasle-bag.

http://bighollywood.breitbart.com/jgoldberg/2009/03/13/patriarchal-porn/

Posted by Ron Doc @ 2009-03-13 17:31

Note,'Ron Doc',et.al.'s internet 'naked short' software fraudster pal Thomas Ronk is given free publicity by Roddy Boyd in 2007. Tom Ronk liked Boyd's pro Ronk propaganda so much he put it on his on fraudulant website.The SEC knows he is a broker fraudster who didn't even pay his fine!This is the kind of internet scum and parasite that Ron Doc and Bud Burrell and 'Bob O'Brien' are part of.It really could be prosecuted under RICO but even the U.S. CIA is involved in penny stock fraud.I only hope Leon Panetta doesn't allow SEC and CIA COOPERATION IN STOCK FRAUD TO CONTINUE. In-Q-Tel is not a 'non-profit' by any means but a CIA fraud against investors,Americans in particular.That the con artist and ex SEC Chairman Christopher Cox admitted 'monthly briefings' with a government organization(CIA) owning SRA International(and an untold number of penny stocks) that through its Mantas software let Charles SChwab and LOM of Bermuda and Tim Mahoney's vFinance to launder and defraud money and sat back as the scum of Bellador Group of Kuala Lampur and Dubai of a Mr.Peter Taylor and his attorney Ron Logan of Pheonix,Arizona to claim ,on offshorebusiness message board,was naked shorted ! And yet this Peter Taylor was never made to file or disclose the amount of Endovasc shares he pumped and dumped ! And the belladorgroup.con website promoted China Wireless a Colorado penny stock fraud endorsed by the Republican Party as well as Endovasc,Biophan and SRA International that besides being a CIA 'investment' just happens to be IT company to the U.S. gov and the White House ! So who cares what particular turd 'Ron Doc' is in this MASSIVE STOCK MONEY LAUNDERING OPERATION crime condoned if not orchestrated by the U.S. government against its own people ? Even Patrick and Jack Byrne's political dirty tricks such as Swift Boat Captains and a pro medical insurance campaign was all paid with the profits of Overstock.con stock fraud !

Below from 'Naked Short Scare' by Roddy Boyd: http://www.buyins.net/articles/nypost.pdf

Naked shorting was always a violation of established trading practice, and in January the National Association of Securities Dealers instituted a rule — Regulation SHO — to eliminate the practice. A day trader active in numerous Nasdaq stocks, including Baidu and Foxhollow, said a rumor of mandatory buy-ins had been circulating on Internet bulletin boards for days. The Post reported recently that the NASD and numerous state securities regulators, led by Ralph Lambiase of Connecticut's Division of Securities and Business Investments, have vowed to increase scrutiny of naked short sales. A buy-in is the worst possible development for a short-seller, since he has to accept any price given. "Ninety-five percent of those rumors are fiction put out by people long on the stock, but price and volume action don't lie," said this trader. "Any stock for sale was gobbled up, regardless of price." The NASD circulates a daily list of stocks — termed the Thresholdd List — from the New York Stock Exchange and Nasdaq with a certain percentage of their trading volume failing to match up.

Tom Ronk, the chief executive of Buyins.net, which offers software to take advantage of so-called short squeezes, said stocks with large naked short positions for two weeks often start to increase in price. He said after 15 days on the Regulation SHO list, firms must buy in their clients or face fines or the suspension of their licenses. As an example, Ronk pointed to Catuity Inc., which had been added to the NASD's Naked Short List on May 2 at $4.53 and jumped to $22.58 by May 9, closing yesterday at $15.40. -end Go to www.buyins.net/squeezetrigger.pdf to learn more about BUYINS.NET

Roddy Boyd

Posted by Tony Ryals @ 2009-03-13 21:37

Tony, fall on your knees and beg forgiveness while you can. It works.

Posted by Ron Doc @ 2009-03-14 22:59

www.utah.indymedia.org/news/2005/10/11883.php

Utah Senator Bob Bennett :Is Patrick Byrne's NCANS a Fraud ?

by Tony Ryals Sunday October 02, 2005

While I have voiced my opinion since February,(when an ad-letter by NCANS was placed in the Washington Post claiming the greatest danger to investing SS funds in the stock market was 'naked shorting'),that ncans. net was a fraud by penny stock promoters and manipulators,so far,the SEC has done nothing to stop this organization with ties to British Virgen Islands and offshore where U.S. penny stocks are often dumped on defrauded Americans from.I believe it is related to James Dale Davidson of the National Taxpayers Association or to those with ties to him.

Since the ad appeared ncans. net has opened an account with Wells Fargo in San Diego,California to solicit donations with their attorneys,SADR BARRERA, being in that city as well.Both Bob O'Brien and Patrick Byrne of Overstock. com claim to receive most donations from 'small investors' but it appears to represent insiders to penny stock scams.

They also run an nfi-info. net website to promote the stock NFI a 'reit' that uses many aliases to also promote on the Yahoo NFI website to lure others into their scams.Mary Helburn,titular head,is residing in Los Altos ,California I believe and as her letter re the SEC shows these people are all too self confident in their scam,almost as if they feel they have friends or protectors in Washington,D.C., AND THEY APPEAR TO.

Below is a link to sandiego.indymedia that mentions that the only known address for the ncans dot net or the related nfi-info. net group is a Cheetah striptease club in Las Vegas.This Cheetah striptease club is or was owned by the Galardis father and son and was convicted of bribing the San Diego city council !!

Posted by Tony Ryals @ 2009-03-15 02:03

Tony Ryals, so let me get this straight. You have it in for both Bryne and Weiss? Why Weiss? I thought he was a man god you worshipped?

Also, please don't give Canada a bad name. You're an American, right? Say so for the record.

What's this grease you have on Brent Baker and Porter Stansberry? Half of Toronto is dying to hear more, Tony.

Posted by Shopsy's Baloney @ 2009-03-15 07:59

If you were any good at google search you would see what I have had to say about gary weiss,steve forbes his boss and james dale davidson who is forbes' partner at the ntu or national taxpayers union in alexandria,virginia a few blocks from the u.s. sec,who started the fraudulent 'naked short selling' claim around 2002 to distract attention from his illegal penny stock pumps and dumps,particularly of genemax and endovasc at the time.(david p summers of endovasc was really a dominian bank and northern virginia bank banker who now runs a banking penny stock scam called virginia heritage bank.it is listed on otc as well as pink sheets but the sec has never made them even file and allows the nasdaq criminal operation,in part now owned by dubai,to list them as an otcbb without even having to file as stipulated by law ! ¿capische?) if you could do a google search you would see i despise gary weiss for mis-using the term 'conservative' the way you all mis-use 'semite' - i.e.-incorrectly,thus raping the english language,which appears something all frauds are prone to do to aid their lies and deceptions.if you could do a google search you would know how i have warned of not only byrne's fraudulent use of wikipedia for his own endds but also steve forbes' boy gary weiss' connections at wikipedia to have a vanity bio written for him by alias editor mantanmoreland who was also very careful to have james dale davidson and agora inc's involvement with and promotion of the fraudulent 'naked shorting' claim and his founding of naanss or 'national association against naked shorting' in the same blaine,washington office he and canadian scheisters brent pierce and grant atkins ran their genemax pump and dump out of. ¿Capische? So by being connected to steve forbes, gary weiss is as much a part of the naked short selling fraud and farce as all byrne's 'men' are. You never noticed gary weiss lies about 'naked shorting' not hurting stocks ?! if it were occuring on a large scale it would indeed effect share price negatively just like counterrfeitting or over printing dollars ot german marks,etc.,would. ¿Capische? And although he knows of his boss's connection to jim davidson he remains silent.so he sucks at the tit of forbes and he likes it that the ukranian israeli grin brothers and sooo many others - madoff being one example - help the israeli government by launderting money through their leumi and other banks. ¿Capische ? it's hard for me to believe the weiss' gang or byrne's gang are really americans. ¿Capische?

And when did gary weiss mention james davidson was still running his,frank carlucci's and perhaps even steve forbes' ,et.al.'s penny stock scams out of the ntu office a few blocks from chris cox's, et.al.'s SEC as recently as the time of death of john berthoud under what appear to be questionable circumstances in 2007 ? ever hear of their pluristem,technion university connected penny stock pump and dump in cooperation israeli israel mobsters or mosad or ex israeli military ? it's no coincidence that steve feinberg's, ex u.s. treasury secretary john snow's,dan quayle,and the kellogg,brown and root boys' (of slikkk dikkk cheney haliburton now in dubai),- cerberus hedge fund of chrysler fame and walter reed hospital and katrina hurricane infamy are 10% owners of that fraudulent bank as they are 100% owners of refco connected bawag that also has u.s. penny stock connecvtions in turn with leumi,union and other corrupt israel money laundering banks. :

while madmen in top hats and tails impale themselves on six-inch nails and some Arabian also-ran impersonates a watering can(warring camp?)

Some Santa Claus-like face of note entreats my ears to set afloat my feeble sick and weary brain and I am overcome with shame and hide inside my overcoat and hurriedly begin to quote while some Arabian sheikh most grand impersonates a hot-dog stand

The Red Cross ambulance outside can only mean that I must hide 'til dusk and finally the night when I will make a hasty flight across the sea and far away to where the weary exiles stay and some Arabian oil-well impersonates a padded cell - christmas camel, procol harum

Posted by Tony Ryals @ 2009-03-15 15:08

Here's a link to a recent story about Steve Forbes' digital rag touting James Dale Davidson's,et.al.'s newsmax that was greatly paid for with fraud mainly against americans perpetrated by james dale davidson.I believe it no coincidence newsmax name sounds a little like genemax. after all the republican endorsed newsmax was funded at least in part and in my opinion in great part from securities fraud of james dale davidson, et.al. whgile steve forbes knew all along he was running stock fraud and money laundering out of the NTU office in corrupt decadent Alexandria,Virginia.

This is the kind of 'journalism' that Gary Weiss,his boss Steve Forbes and Rupert Murdoch whose Fox News also quotes and cites for 'credibility' like. And in truth if Dikkk Morris should disclose his connection to newsmax,surely steve forbes or forbes.con should disclose Steve forbes' incestuous economic and political ties to james dale davidson.....It should also be noted that it was newsmax that was used to spam the davidson's and frank carlucci's(carlyle,etc.)israeli u.s. penny stock fraud, pluristem, that claims to use stem cells from placentas for medicine which should have shocked their ex master w bush who believes fetues should be adults before they are aborted),and direct potential shareholders or victims to james dale davidson's(and steve forbes) ntu address in 2007.Forbes.con also did an article on the Israeli Grin brothers a few years ago,(who like james dale davidson were also part of beltway banker david p summers' stanford university connected endovasc pump and dump fraud),that brushed over their numerous u.s. penny stock frauds against americans and money laundering around the world with israel as their home base and for whatever reason hid the fact they were israeli NOT Ukranian ! So some similarities here between both Dale Davidson and Patrick Byrne using money from stock fraud to support far right political activities. :

.......

http://mediamatters.org/items/200903130032

Fri, Mar 13, 2009 7:50pm ET Send to a friend Print Version

In puff piece on Newsmax, Forbes.com quoted Dick Morris without noting he writes for Newsmax

Summary: A Forbes.com profile of Newsmax and its co-founder, Christopher Ruddy, quoted Dick Morris praising Newsmax without noting Morris' affiliation with the outlet. The profile also omitted key information on Ruddy, including his history of promoting unfounded conspiracy theories about the 1993 death of deputy White House counsel Vince Foster.

In a March 6 Forbes. com article headlined "A Great Right Hope," profiling the conservative news outlet Newsmax and its co-founder Christopher Ruddy, Forbes.com writer Dirk Smillie quoted columnist and commentator Dick Morris praising Newsmax without noting Morris' affiliation with the outlet. Smillie identified Morris as a "former Clinton political strategist" and quoted his comment that Newsmax "is the most influential Republican-leaning media outlet in the country." But Smillie did not inform readers that Newsmax frequently publishes columns and "exclusive election analysis" by Morris on its website and in its magazine, and a 2007 press release listed Morris among its contributors. Further, Newsmax sells Morris' book Fleeced in its online store and has promoted the book by offering a free copy with the purchase of a one-year subscription to Newsmax magazine. Morris is also listed as a speaker during a planned Newsmax-sponsored Mediterranean cruise later this year.....

In the March/April 1996 Columbia Journalism Review, contributing editor Trudy Lieberman reported:

That Christopher Ruddy would win the Western Journalism Center's first "Courage in Journalism Award," with its crystal trophy and $2,000 check, is hardly surprising. Ruddy is a free-lance writer for the Greensburg, Pennsylvania, Tribune-Review, whose oeuvre is the 1993 death of White House aide Vincent Foster. The Western Journalism Center, based in suburban Sacramento, bills itself in a biweekly newsletter as a "nonprofit tax-exempt corporation promoting independent investigative reporting" and "the only national news agency supporting a full-time probe of the mysterious death of White House deputy counsel Vincent W. Foster, Jr." What this means, it seems, is that the Center mostly recycles stories written by Christopher Ruddy....... The Western Journalism Center, too, has a strong connection to Scaife: last year a good chunk of its funding came from the Carthage Foundation, one of several foundations connected to him. Another large Center contributor is James Dale Davidson, who co-edits the newsletter Strategic Investment and is also chairman of the National Taxpayers Union, a conservative group whose research arm has received thousands of dollars from Scaife foundations.......

From the March 6 Forbes. com article:

Christopher Ruddy wasn't invited to President Barack Obama's dinner with conservative columnists at George Will's Maryland home in early January. Maybe he should have been.

Says former Clinton political strategist Dick Morris: "Newsmax is the most influential Republican-leaning media outlet in the country." Why? It taps "what Republicans in the heartland are really thinking."

Raised in suburban Long Island, Ruddy earned a master's degree in public policy from the London School of Economics, signed on as a journalist first at the New York Post, then as a national correspondent for the Pittsburgh Tribune-Review, owned by billionaire Richard Mellon Scaife.

Posted by Tony Ryals @ 2009-03-15 16:15

Holy mackerel, Tony, I didn't need that much information.

Okay, I can see your point about Weiss. I want to know about Baker and Stansberry. How much did he give up,when did he give it up, and why did Stansberry's knickers get in such a twist over what Baker gave him?

On Pierce and Atkins, the SEC nailed them both last year. Atkins already rolled over on Pierce, so stay tuned. It's a damn shame the BCSC chose to stick it's head in the tar sands and pretend they Pierce was complying with the knuckle rap they gave him. 80 year old nuns with plywood rulers give harder knucle raps.

Got any opinions on the new chap at the OSC? As long as we're passing out accolades here, we may as well roast him, too.

Posted by Shopsy's Baloney @ 2009-03-15 17:35

If you found my writing on porter stansberry then you saw his letter to me swearing james dale davidson wasn't founder of agora inc of baltimore and world internet stock spamming fame - and besides jim davidson doesn't work there anymore.then a short while ago he was back on bill bonner's dailyrecking or thedailyreckoning.(can't remember which one cause davidson's,the lard william rees-mogg's and bill bonner's,et.al.'s agora inc has soooo many official and unofficial penny tock tout sites.)he has also been touted by bonner's son on the contrarian or something like that recently as an old friend of his daddy.

to tell the truth i was interested in what stansberry was saying between the lines about his run in with utah sec attorney brent baker who basically let him and davidson walk.you should note that charges re endovasc and genemax pumping dumping were deleted from baker's and his fellow utah sec attorney's lkegal complaint long before the caes was basically dismissed.also brent baker posted a reply to one of my posts on offshorebusiness.com but david marchant deleted it.go figure... anyways that post by brent baker stated basically that patrick byrne was correct and naked shorting was indeed a serious probklem ! of course he may have been a little biased as he was paid or bribed with attorney fees he charged to patrick byrne or overstock.con.

maybe this was also a payoff from davidson and stansberry through byrne and overstock.com - a bribe for letting them walk.i don't know.......however on the larger scope of the u.s. sec and its ignorance of the naked shorting claim as a fraud to divert attention from once penny stocks like endovasc and genemax and then recently for trillion dollar mortgage frauds,etc., - the sec or chris cox who did most of the recent speaking for it - has never once named any person or entity in his naked shorting claim for freddie mac and fannie mae and ... etc.,- and he or the sec has never prosecuted one single comnpany for making a fraudulent naked shorting claium as if such a prosecution would set a bad precedent ! You know and i know usxp for instance or cmkx diamonds or jag media-cryptometrics(of burmuda shorts fame)were never 'naked shorted'.i don't believe any person or entity could counterfeit shares or dump them faster than the 'executives' of those share prining presses could,do you ? and yet the sec made sure NOT to prosecute any penny stock company making that claim for a fraudulent lie for their and their insiders personal gain.

why do you not think by now that if sec and chris 'naked shorts' cox haven't identified and named any person or entity that can fit their definition of byrne's 'sith lord' that they hsave not at least prosecuted at least one ceo or companyfor making an unfounded fraudulent claim ? and the joke is that also valinoti of jag media holdings and bermuda shorts fame as well as all the other named and many more have dumped unissued and unreported shares - not one has been charged with a fraudulent naked sahjhorting claim.i wonder why ? maybe might set a bad precent for criminals ? by the by i've been curious for a while - is kenneth israel who is head(dead head)of the utah sec office related to israel of bayou hedge fund fame ? oh it was your mention of baker and stansberry that got me going so i forgot about brent pierce and grant atkins who are poster boys of sec benevolence about those making the fraudulent naked short claim to mask illegal pump and dump fraud.note the sec made sure to say nothing about their involvemetn in davidson's and genemax naanss scam nor ever charging them with making fraudulent naked short claims from a number of penny stock frauds they have profited from.......that would st a bad precedent,soon enough someone might ask if chris cox lied as sec chair abvout fannie mae,freddie mac,lehman brother,aig,etc.,being victims of 'naked shorting'.and he,chris 'wmds' cox, was the hypocite-crook who changed the uptik rule to make it easier for his offshore money laundering colleagues to short u.s. stocks more easily in the first place !

Posted by Tony Ryals @ 2009-03-15 21:25

Let's see if I can answer some of those questions for you:

1. No, I seriously doubt that Ken Israel of the SEC is related to the Israel of the Bayou hedge fund. Israel is a very common Jewish surname as are: Cohen, Shapiro, Greenberg, Frankel, and Goldman. It's like O'Brien or O'Neal with Irish Catholics or Smith and Jones with WASPs or Garcia or Hernandez with Hispanics. Ericson's a popular Scandinavian surname. Patel is a popular east Indian one as is Gupta.

2. I wouldn't go so far as to say the SEC's not aware that "naked short selling" is used as a ruse by less than ethical execs who want to issue more free trading shares or don't want anyone to know their own underwriters often short as a hedge during new offerings. In the SEC's case against Atkins/Pierce I am fairly sure they're aware of the false and misleading comments made by their IR man, Gino Cicci, with respect to "short sellers."

3. The SEC prevailed in their case against Stansberry. The appeal was denied and Stansberry was told to cut a check. Whether he did or not, I don't know. The SEC doesn't keep very good track of disgorgements which is one area they received criticism about in their IG's report.

Yes, I did see Stansberry's e-mail correspondence with you with respect to former SEC attorney Baker. I was not aware there was published e-mail correspondence between Baker and other reporters, however. Thanks for making me aware of that, Tony.

I seriously doubt there is much naked short selling going on in the US anymore other than with a few remaining 3rd tier broker-dealers who make markets in penny stocks. These are known as bucket shops and there have been several SEC litigation actions in the past several years against those bucket shops. There are several Vancouver based broker-dealers who still permit clients to engage in naked short selling. Whether Doug Hyndman permits Lang Evans to look into this matter depends on how serious Hyndman is about being Canada's "chief" securities regulator.

Posted by Shopsy's Baloney @ 2009-03-16 06:51

Hmmm,then do you know the origen of the term 'naked shorting' or 'naked short selling' ? Why did the inventor of the term not say 'negative short selling' for instance ? Or just share counterfeitting as that is what those anonymous indididuals who claim it is occuring say that it is. Also if Fannie Mae and Freddie Mac and other interest paying stock ponzi schemes such as Nova Star Financial were being 'naked shorted' as ex SEC Chair Christopher Cox claimed without providing an iota of proof,then why did not one share holder ever complain about not receiving their dividends ? Yes penny stocks like Endovasc and Genemax that do not pay interest can deceive a naive investor particularly when handed a new term they never heard of as I was with the term 'naked shorting' in 2002. But it's precisely because they don't pay dividends that one can't really say if their shares are 'counterfeit' or not.However the obvious hole in the claim besides the fact that the pump and dump operation becomes apparent after a while even for inexperienced stock investors or victims,is when all of a sudden the fraudsters were using dividend paying NFI as an example of being a victim of 'naked shorting'.Had this been the case some shareholders would not have received dividends because they held counterfeit shares. Again this never happened.And Chris'Naked Shorts' Cox never presented any victim-investor that said, 'I bought so and so many Fannie Mae shares and learned they were phony when my broker told me and no interest was paid'.Well this never happened and James Dale Davidson, Brent Pierce and Grant Atkins WERE the first to use the claim for systematic fraud and I believe money laundering. SO please let me know how long the term has been around who invented it and why did it take known securities fraudsters Davidson,Atkins and Pierce to bring it to public and SEC attention ?! I have written a little science and western history such as 'The Pope's Misconceptions about Conception and Science History' that can be found on internet and realise the importance of citing my sources.So if you all who use the term naked shorting can't even give me the most brief history of who coined the term and where - how can you even use the term with a straight face!? During the depression the term 'short selling' existed.Did the term 'naked short selling' exist during the depression ? I don't think so.In fact I don't believe it appeared in the UK and thus UK english until as late 2007 when Murdoch's and Lord William Rees-Mogg's rag the Times said all of a sudden that Northern Rock was 'naked shorted'. Then it appeared in Murdoch's Australian rags only in 2008 when his hack reporter Terry McCann(who also wrote an official letter to the U.S. SEC at the same time) began whining about it.So as far as I know it was a term,if not created,at least promoted for the first time by fraud penny stock pumps and dumps in 2002 when the term appeared on Yahoo and ragingbull.con, etc.. Gary Weiss claimed it was Forbes magazine that first mentioned it in the eigities but he never posted a link nor gave a quote from the article. As an amateur writer of science-western history I am less than impressed with how everyone is bandying around a term whose origen although certainly recent,can't be explained. And in the story of who coined the term I believe is also a story of massive stock fraud that went from penny stocks all the way to hundreds of billions and perhaps trillions of dollars in losses from U.S. economy.I believe the loss of money from sytematic and organized shorting - not naked shorting - has drained money from America and Americans into offshore accounts and if our government just prints more rather than recoups stolen funds America will be in perpetual debt from now on.What per cent of Fannie Mae's,et.al.'s, pilfering and orgainzed shorting is now offshore ? And in whose accounts ? I also believe Chris Cox could tell us mnuch.

Posted by Tony Ryals @ 2009-03-16 21:30

Below are results from recent google news search of the name 'christopher cox' all articles revolve around a certain rule, the 'uptick rule', that Christopher Cox(who claims his grandfather was himself supposedly taken in a stock scam),had unilaterally suspended during his term as SEC Chair is what he was REALLY refering not the 'naked shorting', he was lyingly called it in my opinion.He knew he was now in a position of power he had never been in to help securities fraud which is what he did as a Orange County California Congressman(and his Lathan and Watkins law firm represented Enron in California that defrauded Claifornia electricity consummers as well as investors) when he wrote in all that 'safe harbor' and other bs that has helped and attracted international criminals around the world to the U.S. penny stock markets and now to major companies many corrupt obsolete and worthy of being dismantled such as AIG.And yet Cox knew that the very market he was allowing to be pumped up post 9/11 would have to crash down - so he in my opinion premeditatively let the uptake rule disappear so very big connected money could pull the switch from numerous accounts at the pleasure.And that's what happened the U.S. own overvalued or worthless shares controlled by numerous offshore accounts dumped ,the shares reentered the U.S. market and country and dollars went out in millions and billions lierally overnight.So the dollars weren't destroyed but the did leave the U.S. economy and worse the money leaving really was that of mainly American investors being taken by well connected international stock manipulators some of them even being Wall Street and Beltway connected of course.

So Christopher Cox is a traitor to his own country in my opinion for allowing the U.S. stock markets to be used to defraud and send American investors money to ooffshore account where they do no good for the U.S. economy and in fact may fund futiure negative actions againt us !Somehow I don't think he does or did Canadians ,or the average ones, any favors either.I haven't compared the dollar loss in shorting(which is what really happened and not 'naked shorting'as Cox lied about) Fannie Mae or Freddie Mac and that of say the U.S. annual foreign oil bill or the war in Iraq but I actually believe the defrauding of American investors in their own stock markets accounts for perhaps a greater amount of dollars than ALL of these.

And someone might have an idea of what U.S. foreign aid to Israel is and whether or not perhaps the amount lost by American investors due to scam they get incorporated in Nevada,Delaware and elsewhere doesn't perhaps greatly exceed that aid ? And to not discriminate I'm equally concerned about Dubai's partial ownership of the NASDAQ that has remained open to business for criminals and money launderers and unending repeat penny stock offenders who should long ago been in jail but remain running unending frauds. So I'd say the last thing I think an SEC Chair who actually opened the door to massive shorting mostly from offshore accounts and I believe actually knew that he was setting the U.S. stock markets up for massive shorting should do is then then cry 'naked shorting' only adding the the panic with his unsubstiated lie and that he used the term to distract from the very reall shorting he aided and abetted just as his neighbor and political protege James Dale Davidson of Steve Forbes connected National Taxpayers Union in Alexander,Virginia did as he pumped and dumped Endovasc,Genemax and so many more...... Basically I'm telling you Chris 'WMDS' Cox is pulling your middle leg about former dividend paying stocks like Fannie Mae and Freddie Mac being 'naked shorted' and ZERO Sith Lords or penny stock operators who began this fraudulent claim on a massive scale to divert attention from their obvious illegal pump and dump activities,(i.e.- Beltway wingnut James Dale Davidson and Canadian securities scheisters Brent Pierce and Grant Atkins),have been even acknowledged much less prosecuted.

The SEC is now in a cover up phase for Chris Cox or so it appears and if the same low life remain at the SEC such as Cyber Czar John Reed Stark who has done nothing about Patrick Byrne's cyberfraud websites much less those of James Dale Davidson,Bill Bonner and the Lord William Rees-Mogg, et.al.'s Agora Inc internet fraud sites - so the same Beltway connected fraud remains even after Barack Obama.:

google news search of 'christopher cox:

SEC Revisits Uptick Rule DW Online - ?4 hours ago? ... to curb short-selling last year have also been deemed ineffective. Chairman Christopher Cox at the time said he regretted some of the temporary measures. Will the SEC Bring Back Uptick Rule? FOXBusiness SEC may consider reinstating uptick rule Emirates Business 24/7 all 18 news articles Washington Times SEC's Schapiro to Give Munis their Due; May Weigh Cox Plans Financial-Planning.com - ?Mar 12, 2009? ... to move forward with the initiatives to boost municipal disclosure and accounting standards that were promoted by her predecessor, Christopher Cox. ... Schapiro Says SEC Needs Cash; 2009 Funding Inadequate Bloomberg all 32 news articles » Boston Globe Buckle Up! The Up-Tick Rule Back In Action? Motley Fool - ?Mar 10, 2009? Chris Cox and the SEC tried riding around without a seat belt during the good times in the market a few years ago and determined that the uptick rule wasn't ... Momentum Builds to Bring Back 'Uptick Rule' FOXBusiness On Second Thought, SEC Thinks Uptick Rule Wasn't Such a Bad Idea Schaeffers Research SEC May Weigh Reviving Uptick Rule to Bolster Markets Bloomberg The Associated Press all 459 news articles »

Posted by Tony Ryals @ 2009-03-16 23:46

Tony, Christopher Cox indeed had his issues but he's no longer around.

I might revisit this topic next week but today's a holiday and I think we both should have a Guinness or two and celebrate a little.

What do you think of Mr. Webb's reporting? How about David Baine's or Carol Remond's?

Posted by Shopsy's Baloney @ 2009-03-17 15:20

Well if I had any criticism of Lee Webb's investigative journalism I would certainly have let you,and more particularly,him know by now,don't you think ? Ha. I used to enjoy seeing him appear on ragingbull cmkx diamonds board and give the scamsters a little dose of reality between their touts.I liked it that he would get out there on those penny boards that defrauded me and kick some of the same kind of scum that kicked me,digitally that is.And I liked that he proudly posted or posts under his own name meaning he was-is glad to own up to what he says.He may still make cameo appearances on some penny stock scam boards.I'm glad he does cause the SEC certainly isn't monitoring the sites he does. I must confess embarrassing ignorance of David Baine although I believe some Canadian or BC person recommended him to me a while back.As for Carol Remond I have had some minor communication with over the years.I really can't find fault with anything she says or writes its just that some times I think she knows more than she will say.... Actually I'm quite curious to know what became of NY Post's Christopher Byron who was there long before Rupert Murdoch bought it but disappeared without a word(that I know of), about half a year after mentioning me in the NY Post along with Hillary Clinton, Barbara Boxer,In-Q-Tel and Ionatron in an article titled 'CIA Stinks'.One of Gary Weiss groupies congratulated him at the time as being Byron's replacement which I thought was odd because after all Gary was-is Steve Forbes' boy - not Rupert Murdoch's ! Well maybe that the same difference..

Posted by Tony Ryals @ 2009-03-17 21:41

Tony, I must warn you, am posting this under the influence of at least 2 pints of Guinness stout so if there are any errors, don't hold me responsible:

1. Byron's got some sort of radio show now, and yes, he was excellent at exposing micro-cap fraud. He left the NY Post because they couldn't afford him is what I hear.

2. Wasn't aware Lee Webb posts or posted on micro-cap message boards, but yes, the SEC does need to start reading those tout sites once in a while.

3. Baines is excellent and his columns typically appear on Wednesdays and Saturdays in the Vancouver Sun.

4. Remond is also excellent and as you well know, she's been all over the likes of recidivist securities fraudsters like G. Brent Pierce for over a decade. So has David Baines.

I hope you had a nice St. Patrick's Day, Tony.

Posted by Shopsy's Baloney @ 2009-03-17 23:17

Note Jag Media now involved with Ontario crooks.I take the liberty to call them crooks or if not they would not deal with the ongoing penny stock pump and dump and money launmdering op that is Jag Media Holdings that has lied about being victims of 'naked shorting' for years all the while selling dumping unaudited shares the SEC occasional slaps them on the hand for.I'm sure Gary Valinotti and David Patch could tell us much about the organized criminal claim that is 'naked shorting'.Problem is it doesn't appear the U.S. government or SEC wants them to talk or be made to talk. Cryptometrics has been used to pump and Jag for a couple of years now and appears to have a Canadian connection as well as American connection.They used New Zealand passport office and claim they were being employed by them to do biometrics on on(or against ?) New Zealanders to pump the stock ! The New Zealand passport office appears toi have aided in the pump and dump !

www.news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=ind_focus.story

JAG Media Holdings, Inc. Announces Letter of Intent for the Acquisition of CardioGenics Inc. by a Wholly-Owned Subsidiary of JAG Media

BOCA RATON, Fla., March 13 PRNewswire-FirstCall

JAG Media Holdings, Inc. (OTC Bulletin Board: JAGH) announced today that it has entered into a letter of intent with CardioGenics Inc. and its principal stockholder, pursuant to which CardioGenics will be acquired by JAG Media through its subsidiaries (CardioGenics ExchangeCo, Inc., an Ontario, Canada corporation wholly-owned by CardioGenics CallCo, Inc., also an Ontario, Canada corporation that will be wholly-owned by JAG Media). In consideration of the acquisition of CardioGenics by one of JAG Media's Ontario subsidiaries, CardioGenics stockholders shall be issued at the closing, in exchange for all of the CardioGenics shares, a number of convertible preferred shares of such Ontario subsidiary which, upon conversion, shall result in the issuance of a number of shares of JAG Media common stock equal to eighty-five percent (85%) of JAG Media's outstanding common stock (on a fully diluted basis) as of the closing date, assuming (for purposes of this calculation) that the shares of common stock resulting from the conversion of the preferred shares were issued at the closing. CardioGenics stockholders will have the option to receive their pro-rata apportionment of the Ontario subsidiary's convertible preferred shares or, in lieu thereof, may elect to receive directly their pro-rata apportionment of JAG Media common shares. The JAG Media Ontario subsidiaries will be established prior to the closing.

The shares of JAG Media common stock to be received by stockholders of CardioGenics at the closing would not be registered for sale with the U.S. Securities and Exchange Commission and would, therefore, be subject to the rights and restrictions of Rule 144. Shares of JAG Media common stock issued to the Ontario subsidiary stockholders upon conversion of their preferred shares after the closing may not be registered for sale with the U.S. Securities and Exchange Commission prior to six (6) months following the closing and would, therefore, be subject to the rights and restrictions of Rule 144 prior to any such registration. The existing public stockholders of JAG Media will experience significant dilution from the issuance of these shares to the stockholders of CardioGenics and the Ontario subsidiary..............

Posted by Tony Ryals @ 2009-03-20 21:22

Cramer's Outrage(Lie) of the Day(or Decade)

And now comes cnbc's lieing securities conman Jim or James Cramer to lie about 'naked short selling' just as did ex SEC Chairman Christopher Cox who he pretends to criticise for doing the same thing he does on CNBC - to lie about naked shorting'. In other words just like his critic Patrick Byrne he has gotten back with the program .. lie about a made up term no one has defined and that no one has been identified or caught doing - 'naked shorting'.

He just schizophrenically sometimes uses 'naked short selling'(that ex SEC Chris Cox suspension of uptick rule made massive shorting look like 'naked shorting' but the real effect WAS conventional shorting),and then switches to more legit term and traditional term 'naked shorting' and like ALL OF THEM never defines his terms are gives an ignorant observer such as myself a clue as to where the term 'naked short selling' came from or when ! Do any of you know ? Of course not....

The scumbag Cramer,like his fellow colleague in stock scamming who he pretends to criticise,ex SEC Chris 'Naked Shorts' Cox,ha,is really part of the naked short lie as are James Dale Davidson,Steve Forbes, Patrick Byrne, Houston attorney John O'Quinn,Gary Valinoti,Adnan Khashoggi,Brent Pierce,Grant Atkins and sooo many more anonymous scumbags who also lie about 'naked shorting' to distract defrauded investors - now not just in penny stock - but major mortgage and financial stock including Fannie Mae and Freddie Mac says Chris Cox(without naming a single company or 'naked shorter' just like the rest of the scumbags mentioned here). I wonder what Barney Frank and his ex Fannie Mae girlfriend Moses,(who he went down on), think about all this supposed 'naked shorting' of their and Rahm Emanuel's,et.al. federal loan and stock scam ?? How many American investors' dollars did those scams take from U.S. economy and send to what offshore jurisdictions ? Not to worry we'll print more like the Germans used to do...Perhaps Rahm Emanuel should perform a ballet in honor of 'naked short selling and his Florida pal Tim Mahoney can help with choreography.

www.cnbc.com

Posted by Tony Ryals @ 2009-03-22 15:03

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