Have a good one. But keep in mind these clowns sat on their hands as they took down Bear Stearns. These same clowns got stupid with LEH. And if there is some nefarious types out there to crash the software side then Ol AIG could find itself in deep doo doo and that would result in a horendous result to the financials and markets. So YOU..someone needs to get some champion involved. I’m certain there are those here who do have the stroke. The question is why isn’t it being applied? I guess nearly destroying the lives of how many millions isn’t enough? Shameful.

Re congressman etc, it just reminds me of the movie 3 DAYS OF THE CONDOR with Robert Redford where Redford at some point realizes that the those he thought to be good guys were in fact BAD GUYS. Bobo atated recently in one of his posts that this demise was INTENTIONAL. So if one accepts that then it’s easy to understand why those who could do something are NOT doing anything.

I am a strong believer that at some point the masses will become enraged. A champion will rise up and inform them. When that happens it will not be pretty for those who mislead/and failed to do their jobs. HISTORY is repelte with examples of what occurs when the masses experience outrage. This time will be no different. It is only WHEN that fulcurm point is hit and what the final straw is that breaks that camels back.

In the meantime, the article re overstook was a good one. The article showing the rats continue to jump ship. Yet what I look for is that statement that comes out of no where that reveals changes. Have a great day and NOW AIG is at 10:37.

http://sev.prnewswire.com/retail/20090708/LA4372608072009-1.html

You guys are brave…keep up the good work!

But, who else better to hold responsible and “put on the carpet” for negligence of duty?

remove spaces put in as the deepcapture system is censoring.

http://cryptogon.com/?p=9745

http://market-ticker.org/authors/2-Karl-Denninger

What did Dr. Scher have in Mind During the Advisory Committee Voting?

Please check page 386 of the AdCom’s Transcript (URL: http://www.fda.gov/ohrms/dockets/ac/07/transcripts/2007-4291T1.pdf )

This page is the transcript of the actual VOTING

QUOTE:

“DR. SCHER: I think we are really
poised at the beginning of what will be
hopefully an outstanding era of
immunotherapy. I think there is sufficient
evidence demonstrated which justifies the
definitive study, and obviously there are
investors in that who concurred, but I think
it does not meet the — as the question was
phrased, to establish the efficacy. I think
this is still an open question…”

Read this carefully!

What does the good doctor have in mind during the VOTING … read carefully … …. …. INVESTORS???!?!??!?

RE-QUOTE:
“DR. SCHER: I think we are really
poised at the beginning of what will be
hopefully an outstanding era of
immunotherapy. I think there is sufficient
evidence demonstrated which justifies the
definitive study, and obviously there are
investors in that who concurred, but I think
it does not meet the — as the question was
phrased, to establish the efficacy. I think
this is still an open question…”

So what was on Dr. Scher’s mind when VOTING at the AdCom?

One may then speculate what was his motivation when writing the letter that was “leaked” to the Cancerous Letter …. was it the Science? the Patients? … no no no … it was INVE$TOR$

News for ‘OSTK’ – Overstock.com Comments on DeepCapture.com Serialized Article: ‘Michael Milken, 60,000 Deaths, and the Story of Dendreon’ –Journalist and CEO Roles Clarified
SALT LAKE CITY, July 8, 2009 /PRNewswire-FirstCall via COMTEX/ — Overstock.com, Inc. (Nasdaq: OSTK) today commented on a recent series of article installments appearing on DeepCapture.com, an investigative journalism web publication co-founded by Patrick Byrne, Chairman and CEO of Overstock.com.

The serialized article was written by Mark Mitchell, formerly an editorial page writer for the Wall Street Journal, a correspondent for the Far Eastern Economic Review, chief business correspondent for Time magazine in Asia, and assistant managing editor of the Columbia Journalism Review. The article investigates the Food and Drug Administration’s actions regarding a prostate cancer vaccine, and actions taken by a group of short-selling hedge fund managers and Wall Street figures with ties to organized crime, 1980’s convicted stock-manipulator Michael Milken, and TV’s host of Mad Money, Jim Cramer.

“I strongly favor Mark’s efforts in bringing this story to light,” Byrne said, “but I think it best to clarify that my second career as one of DeepCapture.com’s journalists is separate and apart from my role as Chairman and CEO of Overstock.com.”

The article, entitled Michael Milken, 60,000 Deaths and the Story of Dendreon, centers on the travails of the biotech company, Dendreon, which was attacked by Wall Street operators right at the time when it seemed that the company’s promising treatment for prostate cancer would receive FDA approval. Ultimately, the treatment was derailed by an unprecedented lobbying effort, causing Dendron’s stock to tumble.

The DeepCapture.com website notes that one of its purposes “is to expose Wall Street money managers who engage in illegal naked short selling, stock manipulation, and the deliberate destruction of public companies.” The site also states that though DeepCapture.com “was initially funded by Patrick Byrne, CEO of Overstock.com . . . it is not part of Overstock.”

Jonathan Johnson, President of Overstock.com, welcomed the clarification, but went on to note that “Shareholders of Overstock.com and officers and shareholders of public companies throughout the United States are tracking the Mitchell article installments with great interest. There can be little doubt this nation is in an unprecedented time of financial hardship, and disclosures of this type are useful to help us understand the times we are in.”

For more than four years Overstock.com has been at the forefront of the fight against Wall Street theft of American savings via rigged IPO processes, naked short selling and other settlement failures, coordinated bear raids, and regulatory capture. Naked short selling, a practice recently identified as accelerating the financial downfall of some of Wall Street’s largest companies, including Bear Stearns, Lehman Brothers, and AIG, is one of the most hotly debated financial regulatory topics in Washington D.C., where pressure is mounting on the SEC to step up enforcement efforts and further tighten loose short-selling rules that allow the manipulative practice to persist.

Lori Richards, Director of the Office of Compliance Inspections and Examinations, to Leave SEC
Lori Richards, Director of the Office of Compliance Inspections and Examinations, to Leave SEC
FOR IMMEDIATE RELEASE
2009-153
Washington, D.C., July 8, 2009 — The Securities and Exchange Commission announced today that Lori A. Richards, Director of the SEC’s Office of Compliance Inspections and Examinations (OCIE), plans to leave the agency after more than two decades of government service.

Ms. Richards has been the Director of OCIE since it was created by Chairman Arthur Levitt in May 1995. As its Director, Ms. Richards managed the SEC’s nationwide examination oversight programs for investment advisers, hedge fund managers, mutual funds, broker-dealers, clearing agencies, transfer agents, trading markets, self-regulatory organizations and credit rating agencies. She spearheaded numerous examination initiatives, including targeted examination sweeps focused on emerging compliance risks, as well as routine, cause, and other examination reviews of industry firms for compliance with the law.

Ms. Richards created a risk assessment function and program in OCIE, and led efforts to enhance the surveillance and oversight of SEC-registered firms. To foster stronger compliance in the securities industry, under her leadership OCIE created the CCOutreach program and issued ComplianceAlerts and numerous public reports describing compliance practices in the securities industry. She upgraded training for the SEC’s examiners and helped to improve the use of technology in the SEC’s oversight of the securities industry.

During her tenure, she helped the agency identify and address a wide range of compliance issues, including abusive trading by exchange specialists, shortcomings in credit rating agencies practices and disclosures, conflicts of interest by pension consultants, asset valuation problems, insider trading, sales of securities to seniors at “free lunch” seminars, soft dollars, gifts, gratuities and other undisclosed business arrangements, mutual funds’ payments for “shelf space” and many more issues.

Prior to becoming the Director of OCIE, Ms. Richards was Executive Assistant and Senior Adviser to Chairman Arthur Levitt on policy and legal matters affecting the SEC. Prior to that, she was Associate Regional Administrator for Enforcement in the SEC’s Los Angeles Regional Office, and held other positions in the SEC’s Enforcement Program in Los Angeles from 1985 through 1994.

“Lori is known widely for her passionate and tireless service to the agency,” SEC Chairman Mary Schapiro said. “I’ve had the honor and privilege of knowing and working with Lori for many years, and have always appreciated her dedication, leadership and integrity. I respect her decision to leave the SEC and am grateful for her many years of public service.”

Ms. Richards said, “I’m honored to have been part of the SEC team, and to have had the opportunity to work for American investors. I’m enormously proud of the dedication and professionalism of the men and women in the SEC’s examination program across the country, and of the important work we did together. After 14 years leading the SEC’s exam corps and more than two decades at the SEC, I’ve decided to take on new challenges.”

Ms. Richards received Presidential Rank Award for Distinguished Service in 2001 (the highest civilian award in the federal government), and the Presidential Rank Award for Meritorious Service in 1997. She received the SEC’s Distinguished Service Award in 2008 (the SEC’s highest award), and the Irving Pollack Award in 1992. She has a J.D. from Washington College of Law, and a B.A. in Political Science from Northern Illinois University.

OCIE Associate Director-Chief Counsel John Walsh will serve as Acting Director of OCIE when Ms. Richards steps down on August 7. Mr. Walsh is a 20-year veteran of the SEC, including service in the Office of General Counsel, the Division of Enforcement, and as Special Counsel to Chairman Arthur Levitt. He has been a member of OCIE’s staff since its creation in 1995.

# # #

http://www.sec.gov/news/press/2009/2009-153.htm

http://www.earthtimes.org/articles/show/overstockcom-comments-on-deepcapturecom-serialized,886060.shtml