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Bob O'Brien's Sanity Check Blog

Author: bobo Created: 1/10/2006 10:09 AM
This blog is dedicated to Bob O'Brien's Sanity Check editorials, and discussions about the Market Reform Movement, the SEC, failing to deliver/naked shorting, etc. It was created so that his many detractors and fans can tell him that he is full of it, correct his mistakes, rant and rave, kowtow, preen, or whatever seems appropriate. The only sins are being boring, or inarticulate, or dim. Humorous pieces can be found in the new Funny Bunny Blog area above, for a lighter-hearted take on being a bunny. Older Bobo blogs can be viewed by selecting a month under the calendar to your right.
There are no new ideas
By bobo on 7/31/2006 8:40 AM
A telling excerpt from an account of our founding fathers...
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Lighter Side Break. New Vid From Columbia Business School A Howl
By bobo on 7/31/2006 8:06 AM
Sting is likely shaking his head in disbelief over this extraordinarily well done and funny video parody...
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SIA Sues Utah Over Anti-NSS Law
By bobo on 7/29/2006 5:59 AM
We've just moved from farce to slapstick... NEW - UPDATE: VIDEO OF NEWS COVERAGE INCLUDING INTERVIEW WITH PATRICK BYRNE
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Liz Moyer Writes Balanced Forbes Article on NSS and Lawsuits
By bobo on 7/28/2006 6:39 AM
Forbes has been issuing fair, balanced articles on NSS of late. Somebody better go have a word with them and tell them to get with the program...
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NY Sun Editorial on Hedge Fund Regulation Nicely Sums Up What's Wrong With The NY Press
By bobo on 7/27/2006 6:13 AM
The NY Sun had an editorial today that trotted out every creaky misstatement ever contrived about hedge funds...UPDATE: MUST READ ARTICLE FROM BRITISH PRESS ON HEDGE FUNDS - POLAR OPPOSITE OF NY DROSS...
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SAC, Rocker, Other Hedge Funds Sued by Fairfax Financial
By bobo on 7/26/2006 11:28 AM
Those innocent hedge funds are again being besmirched by the evil corporations, who in their corporately conspiring corporate way, seek to harm these brave freedom fighters.
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New Alan Newman Crosscurrents; OTCBB Short List a Farce; SEC/SBC Meeting Everything Bobo Expected...
By bobo on 7/26/2006 3:01 AM
A great article, lies, damn lies, and statistics, and rich white men in suits making sounds like adults in the Peanuts cartoons...UPDATE: OSTK TENDER OFFER LEGIT, OR A HOAX?
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Brokers pay beer money in Reg SHO violation case - annoyed because NYSE won't accept coins...
By bobo on 7/24/2006 4:27 AM
Apparently, the NYSE demands that fined firms involved in naked short selling have to have correct change - no vouchers or coins will be accepted. And folks accuse the SROs of lacking teeth...?
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Tuesday's Senate Banking Hearing Likely To Be A Yawn or a Whitewash
By bobo on 7/23/2006 10:36 AM
Is it the court of final appeals for the SEC, or the gang that couldn't shoot straight? Given their record of oversight, the latter....
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Another Great Article On NSS - From The Farthest Point Possible From NY....
By bobo on 7/19/2006 2:48 AM
Funny how the closer you get to Wall Street, the less balanced the coverage of this topic is...
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Wall Street Discovers That There IS Naked Short Selling Going On!!!
By bobo on 7/18/2006 6:24 AM
The WSJ always seems to be the last to know, when it comes to Wall Street practices that cost investors fortunes and benefit the participants. So surprise, surprise, we start to see coverage now...what can it mean?
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SEC Proposed Rule Changes To Reg SHO Now Up
By bobo on 7/17/2006 5:18 PM
Tommytoyz, the gentleman who was responsible for getting the FOIA data on NFI, and who was invaluable in driving the NCANS Amicus brief, has written an eloquent summary that requires no supplementation from the Bunny...
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Vote Is Unanimous! Yahoo Sucks, But New Board Picks Up Slack
By bobo on 7/17/2006 9:40 AM
Yahoo has effectively reduced its traffic on its enormously popular message boards, eliminating the need for any hardware upgrades for the next 20 years, as nobody is using them anymore...
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Yahoo Boards Officially Suck; NCANS Amicus Brief Accepted by NV Court
By bobo on 7/15/2006 12:02 PM
If you haven't been on the new Yahoo message boards, you are in for a huge and unpleasant surprise.
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Guest Blog By Craig Cunningham - On Beating Wall Street At The Stock Lending Game
By bobo on 7/13/2006 8:17 AM
Craig, whose work has graced the virtual pages of The Motley Fool (we won't hold that against him) offers some practical advice on how he has defeated the brokers in their game of lending out your shares, and making money from your asset. It isn't for everyone, but it does seem to have merit...
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Bobo's Simplified Translation of the SEC Hearing on Reg SHO - With Cartoons!!!
By bobo on 7/12/2006 1:31 PM
In his ever-helpful quest to assist the reading comprehension impaired to understand complex issues, Bobo whips out MS Paint and proves that a picture is indeed worth a thousand words...
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A Window Into The Soul Of The SEC - The Reg SHO Amendment Hearing
By bobo on 7/12/2006 4:17 AM
If you weren't worried before listening to this, you should be now...
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Dave Patch Gets FOIA Data for NFLX, Global Crossing; Harvey Pitt and Judith Burns Tell The Story Straight
By bobo on 7/11/2006 1:52 AM
Dave has gotten the 2005 FTD info on both companies, and they show a similar pattern...And Harvey Pitt, and Judith Burns, both have must-read articles out.
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Specialists' Q1 Profits Go Ballistic
By bobo on 7/10/2006 4:35 PM
Being a Specialist firm on the NYSE has NEVER been better. Of course, only on Wall Street can costs remain the same, volume increase only moderately, and yet profits go ballistic. I'm quite sure all that cash is being created legitimately....
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Dr. Trimbath Delivers The Third And Final Installment for the "Experts Speak Out" Section of the Site.
By bobo on 7/9/2006 1:23 PM
Dr. Susanne Trimbath, formerly with the DTC, and an acknowledged expert on the markets and the clearing and settlement system, answers the final round of questions directed to her by this site, and by you, our readers. UPDATE: NEW ALAN NEWMAN'S CROSSCURRENTS ARTICLE
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The SEC is Meeting To Consider Changes To Reg SHO. Bobo Has 5 Improvements That Will Likely Go Ignored
By bobo on 7/8/2006 7:06 AM
Fixing Reg SHo isn't hard. The likelihood that the SEC will actually do so is remote, though, in Bobo's opinion. Still, he lists the 5 necessary steps for making SHO do what it purports to attempt.
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Roundup From a Holiday Week
By bobo on 7/7/2006 7:36 AM
So much going on, so few words with which to express my cynicism...
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The Latest Spin From The NY Press; Are Whistleblowers In Danger?
By bobo on 7/2/2006 3:04 AM
Bobo asks the questions everyone else would prefer weren't voiced - just how far will the system go to protect itself?
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The Liars Club Will Please Come To Order....
By bobo on 7/1/2006 5:30 AM
A slew of articles promises that the bad guys aren't done yet...
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Dr. Patrick Byrne Publishes Letter To DTCC
By bobo on 6/30/2006 9:01 AM
Dr. Byrne publishes a remarkable letter to the DTCC, in reponse to their "clarification" press release the other day.
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The Case For A Special Prosecutor
By bobo on 6/29/2006 6:10 AM
Bobo advocates a special prosecutor to investigate Gary Aguirre's charges against the SEC, as well as the allegations against Pequot.
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DTCC claims FTDs trivial. Bobo says, why, sure they are...
By bobo on 6/28/2006 7:13 AM
The DTCC felt compelled to issue a new release today. Bobo shares his feelings about these poor, maligned souls. And Gradient claims Senate testimony tainted. UPDATE: 3:20 PST. SEC Attorney Feedback Corroborates Aguirre, Eisinger/Alpert Conniving, Hinton Scheming...UPDATE 7:45 PM PST - NEW FORBES ARTICLE NOW UP.
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Senate Judiciary Hearings Yield Remarkable Testimony
By bobo on 6/28/2006 1:24 AM
Here's my quick take on the proceedings, which were landmark. NEW: Testimony Links Now Live at end of today's blog!
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How Dare You Defy The Great OZ!!! I Will Crush Your Head Like A Wallnut...
By bobo on 6/27/2006 8:10 PM
That's one way to deal with whistleblowers, I suppose...
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Now Uploaded - Symphony of Greed, Intro Chapter
By bobo on 6/27/2006 4:48 AM
I posted the intro chapter to the non-fiction book, which can be downloaded using Adobe Acrobat Reader. UPDATE, 5:00 PM, PST - NEW COLUMBIA JOURNALISM REVIEW ARTICLE A MUST READ! ALSO, GARY AGUIRRE'S 18-PAGE LETTER TO CONGRESS.
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Senate Hearing Live Audio - Wed., 9:30 EST - Tentative Witness List Issued
By bobo on 6/26/2006 2:18 PM
The Senate Judiciary Hearing's lineup is out, along with a link for the audio.
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When Smart People Say Stupid Things; Lies, Damn Lies, And Politicians...
By bobo on 6/26/2006 12:39 AM
The NY Post is at it again, and Senator Shelby on the boob tube proves that he is an intractable part of the problem...
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My predictions, and how the system circles the wagons to protect itself...
By bobo on 6/25/2006 6:14 AM
After spending 24 hours ruminating on the Aguirre letter, Bobo offers up some thoughts, and some predictions...
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Must Read Documents - The Ugly Truth About The SEC?
By bobo on 6/23/2006 1:58 PM
A former SEC Staffer wrote two landmark letters highlighting what can only be described as obvious corruption of the Commission, and the sort of cover-up that is only supposed to happen in third world nations. UPDATE: WHOLE 18 PAGE LETTER TO CONGRESS NOW POSTED.
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All Pigs Are Created Equal...But Some Are More Equal Than Others.... UPDATE RE: Hedge Fund Registration
By bobo on 6/23/2006 4:04 AM
Investigating a big, powerful hedge fund? Given glowing job reviews, pay increases? Want to interview some politically sensitive figures?....You're fired. And an appeals court ruled today that the requirement for hedge funds to register with the SEC couldn't stand...
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NFI Shareholders Sue NYSE Specialist And Prime Brokers for NSS; OSTK FTD Data Now Available From FOIA; Mark Cuban Admits NSS is "wrong"...
By bobo on 6/22/2006 4:14 PM
A landmark suit was filed this afternoon by a group of NFI shareholders against the Specialist, the prime brokers, and I presume those with whom they were colluding. OSTK FOIA data shows that FTDs have grown to over 10% of all outstanding shares. And Mark Cuban says NSS is wrong.
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Senate Hearing postponed one week - It is what it is...
By bobo on 6/17/2006 7:34 PM
Depending upon who you talk to, this is a body blow, or a good thing. The Bunny, from the road, advises pragmatic optimism.
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Great article out today; CNBC discusses conspiracy against hedge funds; Bunny Man goes walkabout
By bobo on 6/16/2006 4:19 AM
Some people get it - the author of this article does. CNBC says mean old Patrick is picking on all those billion dollar a year hedge funds. Bobo goes walkies.
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The Bunny's Semi-Annual "I told you so" War Dance Blog
By bobo on 6/14/2006 10:07 AM
We've been seeing a lot more coverage on the naked short selling and market manipulation fronts. Here's where Bobo says, "Gee, where did we hear this first?" Also, a simple primer on how to short a SHO stock into the ground for a buck a share. And Mark Cuban slyly tickles our funny bones again...
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Senate Judiciary Committee To Hold Hearing on Hedge Funds, "Independent" Analysts, and Short Selling
By bobo on 6/13/2006 7:14 PM
Well, well, well. It would appear that someone is paying attention to the massive, concerted, collusive activities of a group of hedge funds, and the "independent analysts" accused of touting their plays and writing hatchet jobs about their shorts. Now we are seeing US Senate hearings on the topic. What a difference a year makes...
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Joe Nocera Successfully Crafts An Article That Is Wrong/Factually Inaccurate/Biased in Virtually Every Statement...
By bobo on 6/11/2006 6:15 AM
It requires a special talent and years of practice to create a piece of "journalism" that is so badly off the mark, it could act as a poster boy for gross inaccuracy. This quarter, we announce the awarding of the Q2 "Greenberg Trophy" to the NY Times' Joe Nocera. Congrats, Joe, you delivered a masterpiece...
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120 letters in Wall of Letters; Ant & Sons covers Naked Short Selling advocacy
By bobo on 6/7/2006 2:02 PM
Special thanks to Mhatmccane for helping with the Wall of Letters section, and Ant & Sons has yours truly in their latest on the Naked Short Selling crisis. Also, someone is writing a lot of ugly Amazon reviews - all variations on the same theme; and I get an interesting matrix sent to me highlighting 'lilGW's book reviewers - all of whom give him 5 stars, and apparently read and slam the same authors...
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Fish Wrapped In NY Post Protest Low Quality Of Writing; Budgie Claims AP Bird Liner Cruel And Unusual
By bobo on 6/7/2006 2:55 AM
Those hard hitting investigative journalists on the East Coast are hard at work spinning the latest news...
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What's Wrong With The NY Financial Press - Dishonest, Stupid, or Both?
By bobo on 6/6/2006 5:56 AM
I do so enjoy how the NY financial press seems to have an endless capacity for ignoring elephants in rooms. Is it because they are too dim to see the huge, hulking beast, or is it because they have ulterior motives to ignore it - "Elephant, what elephant?"
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Financialwire Has Damning Article About Securities Industry Association Killing Reg SHO's Efficacy
By bobo on 6/5/2006 7:08 AM
So, the brokers basically neutered Reg SHO from the get go in order to safeguard their illegal trading profits, and the SEC went along...
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A Depressing Summer State Of The Union
By bobo on 6/4/2006 7:30 PM
Bobo isn't terribly happy with the way things appear to be going, with the market, or the government. Agree, or disagree, at least you always know where he stands...
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DTCC Kills The CFA Forum On NSS? Anyone Surprised?
By bobo on 6/2/2006 10:31 PM
Well, at least the power structure is capable of silencing dissention....
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"It wasn't widely known that trading on secret information was wrong..."
By bobo on 6/2/2006 7:06 AM
Sometimes one statement comes to the surface, which highlights both the level of impunity and arrogance that the hedge funds feel in today's market, as well as the contempt that they feel for the intelligence of the American investor. Today, we got a priceless sound-bite from thestreet.com.
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Dr. Byrne, Dr. Trimbath and Arne Alsin to Speak about NSS at Los Angeles CFA Symposium
By bobo on 6/1/2006 3:19 PM
Dr. Byrne, Dr. Trimbath and Arne Alsin will be addressing the LA Chartered Financial Analyst Association on June 6.
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Why Doesn't The Government Do Anything About Wall Street Corruption?
By bobo on 6/1/2006 4:39 AM
In this two part blog, Bobo offers some thoughts on Wall Street's wisdom in buying the best government it can afford; and reviews the stunning track record of honesty and integrity of Goldman Sachs under newly appointed Sec. of the Treasury Paulson.
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