Do all the flashing lights and noise makers this clown Jim Cramer has on his TV show make you giggle? Cramer hasn’t exposed ANYTHING… well besides himself and other hedge fund managers. I suggest you watch the video that Mitchell quotes in the first paragraph where he EXPOSES that what he does and suggests to others is “blatantly illegal”. But is it illegal if you don’t get caught?… Ask Madoff.

To say that he has done anything to benefit anyone besides himself is hilarious…. I just hope you keep those blinders you have on, It’s going to be a long decade for the fools like you who buy into Cramer.

Let me ask you a question… how much money have you lost because of what Cramer has told you to buy or sell… excuse me ” SELL, SELL, SELL”. I bet it’s nothing because if you actually invested you would know how ridiculous this man and his financial advise is.

I hope that bubble you live in is lined with $$$… I didn’t find anything in this article misleading, exaggerated, or untruthful…

http://www.flickr.com/photos/39874373@N03/3672745445/sizes/o/

Keep it coming Mark!

[WIKILEAKS] The Most Wanted Leaks of 2009. Nominations open‏
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WikiLeaks requests global nominations for the “Most Wanted Leaksof 2009″-the concealed documents or recordings most sought afterby a country’s journalists, activists, historians, lawyers,police, or human rights investigators. Prizes will be award to the winner for each country. Nominations can be anonymous, or if necessary, confidential. WikiLeaks will seek to obtain the leading candidates through thelegal system, and its network of journalists, intelligencesources, volunteers and readers. If you email us(wl-editor@sunshinepress.org) we will alert you when the recordhas been obtained. Think of your nomination as an global Freedomof Information Act request with no exemptions. Winners for each country will receive a cash prize upto 1000 EUR,depending on how many countries submit. Be sure to ask your “offline” contacts for their nomination also;we seek nominations that reflect every government, political group,industry and oligarch. Documents or other materials added nominated must: * Be likely to have political, diplomatic, ethical or historical impact.* Be known to exist or have existed.* Be plausibly obtainable to a well motivated insider, outsider orintelligence agent. For instance the entire collection of documentsheld by the Chinese Ministry of Public Security is not plausiblyobtainable, but a specific document or collection of documents may be.* Be described in enough detail so that a court, dissident insider orvisiting outsider not already familiar with the material or itssubject matter may be able to quickly locate it, and will be motivatedto do so.* Should, where possible, list all organizations, locations andcomputer systems suspected of holding the material or havinginformation leading to it. If public nomination would cause the document to further concealed, thenomination may be made priately. See the nominations so far (order does not reflect the view of WikiLeaks): https://secure.wikileaks.org/wiki/Draft:The_Most_Wanted_Leaks_of_2009

“Stein believes that Milken, whom he compares to mobster Meyer Lansky, was at the heart of a broad conspiracy that bilked investors, savings and loan depositors, insurance policyholders, and taxpayers out of tens of billions of dollars.”

http://www.businessweek.com/archives/1992/b32975.arc.htm

Liz Moyer: “Short-Sellers Set For Flame Forum”
http://www.forbes.com/2009/05/27/einhorn-chanos-short-business-wall-street-banks.html?partner=investing_newsletter

Wall Street
Short-Sellers Set For Flame Forum
Liz Moyer, 05.27.09, 1:40 PM ET

One year ago, David Einhorn of Greenlight Capital took to the stage at an annual investor conference in New York and skewered Lehman Brothers, claiming its feckless risk taking had put the financial system in peril.

His talk ended with a call to regulators to guide Lehman “toward a recapitalization and recognition of its losses–hopefully before federal taxpayer assistance is required.”

The speech was, of course, a sensation. And Einhorn, who was public about taking a short position in Lehman’s stock (hoping it would decline in value), proved prescient. Its pronouncements about its viability notwithstanding, Lehman collapsed into bankruptcy just four months later.

That same conference, the Ira W. Sohn Investment Research Conference, convenes Wednesday afternoon in Manhattan, and Einhorn is scheduled to speak again. He will present his best investment idea for this year, as will fellow short-seller James Chanos of Kynikos Associates and activist William Ackman of Pershing Square Capital, among others.

It is a big event in the hedge fund world–investors pay $3,000 a seat to hear ideas from big-name money managers and at the same time raise funds to treat children with cancer and other deadly diseases.

The contents of the speeches are kept secret, and media outlets are asked to embargo stories on what was presented until noon the following day. This year, an anonymous donor bought 50 seats for attendees who otherwise couldn’t afford it because of unemployment.

Banks could well be the short-sellers’ target again, even though most bank stocks have been badly beaten down since early 2008. Chanos is already on record saying banks knowingly booked inflated earnings when selling financial products that led to the financial system’s downfall and government bailout.

Earlier this month at a conference at New York University, Chanos called it “one of the greatest heists of all time.”

Bank stocks rallied in March and April after reaching a low point in February on concerns that a broader government bailout might be needed to save the likes of Citigroup and Bank of America. But even regulators are saying the banking system isn’t out of the woods yet.

The Federal Deposit Insurance Corp. said Wednesday the number of banks on its “problem” list rose to 305 in the first quarter from 252 at the end of 2008; the 21 bank failures in the period were the most in one quarter since the end of 1992, and that count doesn’t include last week’s failure of $13 billion asset BankUnited of Coral Gables, Fla., the biggest collapse so far this year.

Troubled loans are accumulating, and losses continue to rise as income falls. The industry’s ratio of reserves to loans rose to an all-time high of 2.5%, surpassing the previous high set in 1992 in the midst of the last real-estate lending crisis. But the increase in reserves isn’t keeping pace with the deterioration in loan books.

The ratio of reserves to non-current loans fell to 66% from 75%, the lowest level since 1992. “We are now in the cleanup phase for the banking industry,” says FDIC Chairman Sheila Bair. “It will take some more time.”

That should give short-sellers more than enough ammunition.

CNBC – Larry Levin Tells Truth – Gov’t Manipulating The Market
It starts around the 2:20 mark.

http://zerohedge.blogspot.com/2009/06/cnbc-this-market-continues-to-be.html

It isn’t about any of the things the basher/clogger crowd have spend thousands of words now trying to change the subject to.

What part of illegal don’t you understand?

Stock manipulation, perverting the system and robbing retail investors as well as other participants alike, in a colluding scheme, is illegal for obvious reasons.

Allowing dozens of posts from the market equivalent of the Holocaust denier crowd, whose only apparent purpose is to divert attention from the topic, isn’t particularly productive, nor is responding to their idiocy, IMO.

Somehow, I am supposed to miss the conflation of “changing the subject” and “contrarian view” construction you wrote. You don’t really deny changing the subject, you only appear to respond to it with a claim to pertinency and contrarianism, leaving yourself firmly within free speech territory as anyone is free to conflate one term with another as often as they like, as free as I am to point out the fallacy created when you do so.

And do you know who benefits? The shareholders of that over valued company.

So, please explain what benefit there is to those shareholders for you to take money from buyers, refuse to deliver anything and cripple the share price with the fake supply? You’re just a parasite, sucking blood from a company that could have been an AOL to put money into your own bank account.

And who decides what overvalued is? The long investors who buy and sell to place their votes? Or you, who use other people’s investments in your hedge fund and leverage from the bank to drive the price down? And what if you’re wrong? We’re supposed to come bail your bank and insurance company out with tax payer money?

Na, you drip of self interest and justification. You naked short so you can get rich and you don’t care who is hurt in the process no matter how much you tell yourself you are doing a great public service.

Yes, should have been “taught”.

AMMASS, this is a wrong place for you!

After all it was you and a few others on the IV DnDn board who tried to organize an illegal stock manipulation. While SEC should not bother, you are just like some of those that Deep Capture is trying to expose.

You obviously are out to marginalize Mark Mitchell’s work. Too bad nobody’s buying your load of BS… with the exception of a couple of other persistent trolls (that might just be you as well).

I agree it’s important to remain critical, but you are on the wrong side to be making that argument. You’re arguing to maintain a broken system that has been perverted into a machine designed to rape shareholder value.

The argument is NOT that short selling is bad, or that Dr. Byrne is against short selling, nor is it about Overstock. Though these are lies you continue to spew forth.

The argument is that naked short selling is fraud, because it distorts the true valuation of a company’s stock price by biasing the normal supply/demand curve. Of course you understand this, but you don’t seem to be interested in correcting this perversion of the rules. Rather you seem bent on doing your best to minimalize the disastrous effect this has had on the masses, while enriching a few scaramouches. (Scaramouch is my new favorite word-Thanks JA)

As far as Overstock share price at $12… two points.
1) You do recall a precipitous drop in the stock markets recently, yes? Every company’s stock price is down. Idiot.
2) Once Overstock had been naked shorted for a few months, there are several MILLION counterfeit undelivered shares floating around the electronic exchanges. This fact will continue to have a negative effect on the stock valuation due to the APPEARANCE that those are real shares and not share IOUs.

Dumbed down for you… More shares = greater supply, yes? Since the company didn’t actually increase in value just because a few misfits created the appearance of more (counterfeit) shares for sale in the market, the stock price will be negatively affected. This is due to the simple fact that a greater supply would require increased demand to maintain the same share price. Consider that a share of stock is a very small piece of the pie. When you have more pieces of the same pie, you get a smaller piece…

Why is it such an unreasonable request that those who would sell stock actually deliver what they have sold???

Regular, legal short selling is not at issue here. Illegal naked short selling is. What don’t you understand about this?

kelatious > “Vandalized” was a pretty good choice of words.

We disagree. “Vandalize” has a very specific and pejorative meaning. It did not apply at all. I don’t like the attempt to paint somebody guilty while using dishonest tactics himself.

I don’t think I’ll convince you, but I’ve seen this kind of word-twisting tactics used by professional interrogators. I could be more sensitive perhaps to this. But I can see how most of the people absorb and are subconsciously influenced by this kind of language misuse.