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Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy

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Posted by:   bobo 9/19/2007 6:25 PM

Is that bad, when you're being charged by guys carrying badges with being a lying, cheating criminal scumbag?

I mean, they all claim they "Din't do nufin'" on COPS whenever I stumble across it, so those same protestations don't hold a lot of weight when the foremost class action lawyer in the country is cuffed. No plea bargains here. Just a kick in the nuts and a warrant. Nice.

My hunch is that Lerach might have done a little talky talky in exchange for his single charge, and Weiss is about to get a firehose enema.

Isn't it funny that these guys were untouchable, and a favorite foil of the hedge funds now also facing legal challenges? I can trace to the day when MW's troubles started - the day they decided to sue the NYSE. Almost like in the Milken case, where the message was sent, loud and clear by the royalty of Wall Street......You think you can screw with US? We made you. You were nothing before we allowed you to dance as our jester, and you can find out what date night is like in Attica if you cross us. We can take you down so hard you'll never know what hit you, if you want to play hardball with us. We run things. Bad move, uppity little man. Bad, bad move.

Then again, maybe it's just the infinite symmetry of the universe, and Karmic retribution of some sort.

I kinda doubt it. But still. Could be.

Speaking of being taken down harder than Tyson with a right cross, did everyone catch that Rocker and Gradient lost their umpteenth stalling bid, and are now going to face the music? Ya gotta love the last two paragraphs of the OSTK release linked above.

I love how Gradient is saying the pledge of allegiance while insisting this is all about free speech. Contrast that to the prior release.

Sweetie. Please. Ya tried that. Got swatted down harder than a Times Square hooker mouthing off to her man. Figure this out. Nobody's buying it, and you're now in the spotlight. The weak assurances that your brave and important work won't suffer while you are undergoing a legal proctology exam fools nobody.

I particularly enjoy the bit about how the SEC decided not to pursue the case, as though that meant anything in light of the Pequot case findings by Congress. The only way it could have been more meaningless is if they had allowed the statute of limitations to run out first. Sorry, ladies, but trying to convince the folks at home that your buddies in the SEC running cover for you is anything but disturbing proof of the rot at that agency, just falls flat. We all understand how that works. You worked for really prominent and important scumbags, who own a bunch of SEC scumbags, and you got them to pretend to care so you would have some window dressing for the PR releases. Which means precisely nothing.

Please. Really. Please. Nobody is fooled. Those days are so over. O-V-E-R.

And now it's showtime.

Better start warming up.
Copyright ©2007 Bob O'Brien
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Comments (20)
the SEC took a pass By cleartihinker on 9/20/2007 7:14 AM
I bet Specter, Hatch and Grassley are going to wathcing the OSTK case VERY carefully and will be more than happy to review their already scathing indictment of the SEC over the Pequot/Aguirre/Mack debacle and amend it to include the Gradient/Rocker case, when discovery reveals what these guys were doing and that the SEC did ZIP.

The garbage pile already stinls, now the stench is going to just carry farther....
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By Bruce Thompson on 9/20/2007 7:15 AM
Don't Taze me Bro! AAAAAGGGHHHHHHHH!!!!!!!!!!!!!!

Sounds good for a defense if that 5 second clip is all the jury gets to hear. Seeing the whole picture is devastating.

BT
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By Larach sings on 9/20/2007 7:14 AM
Does anyone remember the Eckerd's lawsuit? Seems a woman from a well-known short hedge fund solicited an unwilling plaintiff. The hedge fund couldn't pursue the case and had to find an attorney to mount the attack. Suit was meritless involving the sizing of a particular drug. Makes one wonder if all of the suits were done on the behest of the short-sellers on trumped up complaints and more money was made in the front-running of the lawsuits than stolen in the blackmailing suits.

Perhaps Weiss and Larach will turn state's evidence to lessen their sentences. The timing of the suits and front-running them.. could be that the amount taken in the lawsuits was peanuts compared to what was made in the front-running. The DOJ needs to look a little harder.
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By Fake Bull on 9/20/2007 7:06 AM
The dollar fell to exactly equal the Canadian dollar today, the first time since 1976.

1. Make credit cheap and move that cheap money into gold, silver and oil, which acts like currency as it can be used to purchase imports. A poor country like Sudan could still import even if their money was worthless if they could pay for the imports with oil. The banksters need to control gold, silver and oil.

2. The amount of wealth in America is fixed. Increasing the money supply is like increasing the number of claims on that wealth. Each claim inevitably becomes less valuable. It is inevitable that the dollar will be devalued in foreign exchange today and massive inflation next year.

3. At first, the shrinking dollar will make it seem like homes, stocks, etc. are soaring in value, but the truth is the measuring instrument has become shorter. It's like redefining a foot as nine inches. 108 inches grows from 9 feet to 12 feet under the shorter 2007 ruler versus the 2002 ruler, but underlying lengths and underlying values of assets has not really changed. It's all smoke and mirrors.

4. Soon the ponzi game will end, with real estate and stocks crashing. The thieves who were selling you counterfeit stock can buy that stock back with devalued currency or much shorter rulers. Even if it didn't crash, it would take less value to pay the same number of dollars as the dollar is so much smaller. It's hard for them to lose if they know they are going to force the devaluation of the currency. The first sign was when they began hiding the size of the money supply last year.

5. The bankster thieves who used the cheap credit to gain control of the world's oil, silver and gold reserves treat the second great depression like kids in the candy shop. They are the only ones with a monetary instrument anyone wants and they demand that Canada, US and Mexico unite under a new fiat currency they call the Amero. They are already rich. What they want now is absolute power.

They would love to get rid of competition from hard currencies and reduce the northern hemisphere to four fiat currencies they control: Amero in Americas, Euro in Europe, Yuan in Asia and the Arabian Dinar in the united middle east. (Nothing unites different Arab peoples like a common enemy.)

I believe the reason counterfeiting of stock is so desired to the elite that control the politicians and media is because it fits into their plans for a new world order where they control the northern hemisphere's currencies.

Knowledge is power. If you can understand the last five points, then you have power over them.
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By mfm1021 on 9/20/2007 6:58 AM
A double dose of uplifting news forthe cool-aid,conspiracy, tin foiled hat brigade. Perhaps these further grease the skids for the nfi shareholder suit that , I believe EB should be credited with convincing O'Quinn etal to handle. With too few events bringing such pleasure, I can only picture how greenslime's smirk wil be complemented by his orange jumpsuit. You think he can provide financial consulting to the boys similar to the way tax advice was traded in The Shawshank Redemtion? Ouch!
EB,Burrell, Patch, Tommytoys, MH, Specter, Hatcg..heroes all. Thx folks; don't stop now.
Re: Gradient Sings Anthem While Losing Stalling Ploy By cutty on 9/20/2007 7:15 AM
Also, did anybody notice, we recently learned that the SEC usually keeps investigations open for MONTH or even YEARS. But the one for Gradient.. Noooooo, no way Sir.That one was promptly closed, had to. Funny that.

Cutty
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By more_arrests on 9/20/2007 4:39 PM
http://www.bloomberg.com/apps/news?pid=20601087&sid=aF5.eBej2WZA&refer=home
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By wakeupfromyourslumber on 9/20/2007 4:40 PM
Counterfeit shares will be covered cheaply at the expense of massive double digit inflation next year.

http://www.wakeupfromyourslumber.com/node/3641

The trigger was bailing out the banks from their subprime bond mess with a drop in interest rates. This bail comes right on the heels of not bailing out the subprime investors who have been naked shorted into oblivion.
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By Sean on 9/20/2007 4:40 PM
Cutty, what was funny or really funny was the fact that the cases left open for periods of time was in relation to publicly traded companies, thus these companies needed a quicker reslolution so that they go go back to business as usual but they could'nt. Then we have the all important Gradient investigation that was resolved in no time flat an was closed out in RECORD time by the expedient SEC THEY ARE A PRIVATE ENTITY what's that about?. This is all one big joke , and the joke is on us small investors and citizens.
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By bobo on 9/20/2007 8:34 PM
I loved the latest comment letter on the SEC website, from the options exchanges.

They completely omit the obvious point, that allowing MMs to hedge using naked short shares harms equity investors, so that options speculators might enjoy free hedging and greater liquidity in gamed stocks. Just ignore it. It is a six page rambling argument that forcing MMs to pay appropriately for hedges in hard to borrow stocks, thus making it more expensive as the borrow cost is higher, will cut into the for profit activities of those writing, and speculating in, the options. Nowhere does it discuss the harm it causes to equity investors. It is just ignored. Gotta break some eggs so that already wildly rich options MMs can get richer at investor expense.

Unbelievable. But not unexpected. Nobody likes giving up the free lunch at the expense of others. I wouldn't.

These are the people buying the influence of the SEC. Those who feel that a month and a half to close out and deliver shares that were sold as a hedge is TOO LITTLE TIME. Everyone else should be bound by the T+3 delivery mandated by Congress, but NOT THEM!!! Because it might cut into their profit.

Wild.
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By rtway on 9/21/2007 7:31 AM
I think it is a personal slap in the face of Martha Stewart, the American public, the FBI and DOJ. Weiss has lied and obstructed justice just as Martha was accused. If he is not taken away in a perp walk the California A.G. should be right there to serve him a new indictment. Then let the other states take their shots also. Bobo karma is alive and well.
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By MrCratchett on 9/21/2007 11:43 AM
Bob,

Options market maker would just pass on the cost to investors in the form of wider spreads between bid and ask.

Have you done any studies that if option MM's could not hedge through naked short selling what would happen in the market place for investors?
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By bobo on 9/21/2007 12:25 PM
Cratchett" No studies have been done. But I don't need any. Section 36 of the 1934 Securities Exchange Act specifically states that exemptions are allowed to be made if they are necessary and consistent with the public's interest, and to the extent they protect investors. Granting options MMs subsidies at the expense of equities investors violates that litmus test.
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By old duffer on 9/21/2007 3:16 PM
OSTK share price is going give some a Relgious experience soon.

Amen!
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By oldfeller on 9/22/2007 7:34 AM
Half a million bail for over half a decade of theft?? Chump change. Judges are bought and sold every day for much less.

http://www.lohud.com/apps/pbcs.dll/article?AID=/20070921/BUSINESS01/709210347
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By n-tres-ted on 9/21/2007 8:25 PM
The important question Weiss and Lerach need to answer is: Who was tipping you on the name of the target company(ies) so you could tip your class representative client regarding what shares to buy?
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By bobo on 9/22/2007 7:42 AM
n-tres-ted:

Gee. That is a tough one to discern, no? We have a handful of hedge funds short 90% of the milberg weiss targets. Take NFI for example. We have Rocker Partners going massively short for the first time in the history of the fund via options, just a few weeks before the WSJ runs a hit piece, and MW sues within 24 hours.

Now, if I am a prosecutor, I look at that, and go, gee, I don't understand the link. Hedge fund makes massive profit from disastrously underwater position turning around and amplifies gain via options (which expire worthless if a disaster doesn't happen in a very specific time frame), and same hedge fund is present in numerous MW suits.

Yeah, that's a tough one, alright.
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By n-tres-ted on 9/22/2007 11:07 AM
Bobo,

I've never seen an media report intimate either the question or any possible answer to it when reporting on MW. But the important party is the U. S. Attorney in Los Angeles. Does he/she know the question and why it is so relevant. So far, the media treat this as nothing more than technical misconduct by an aggressive law firm. But that law firm does not know how to pick targets for short selling. More importantly, the law firm doesn't know which targets are picked by aggressive hedge funds and prime brokers ready to carry out their attack with money, illegal trading tactics, hatchet men/women in the media, and law firms eager to pull down the victim.
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By Azkole on 9/22/2007 4:53 PM
Bobo,

You said in a previous post that the bad guys in the NFI/OSTK suits would probably settle once the guys with badges and guns showed up. Is this the first domino to fall that would start the rest to fall?
Re: Weiss Charged with Felonies, Gradient Sings Anthem While Losing Stalling Ploy By bobo on 9/22/2007 4:55 PM
Azkole: The guys with guns and badges haven't shown up yet. So we don't know. I do know that discovery will likely tell an awfully interesting story, and that one of the primary characters in this little drama has hired a leading criminal defense attorney as his counsel. Connect the dots.

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