Michael Milken, 60,000 Deaths, and the Story of Dendreon (Chapter 2 of 15)

    What follows is PART 2 of a 15-PART series. The remaining installments will appear on Deep Capture over several weeks, after which point the story will be published in its entirety. It is a story about the travails of just one small company, but it describes market machinations that have affected hundreds of other companies, and it contains a larger message for anyone concerned about the “deep capture” of our nation’s media and regulatory bodies.

    Click here to read PART 1

    Where we left off, CNBC’s Jim Cramer had trashed Dendreon while declaring it to be a “battleground stock.” This seemed to foretell a series of brutal attacks that involved  illegal naked short selling and other familiar weapons of the “battleground.” As we will see, these attacks have helped prevent Dendreon’s prostate cancer treatment from reaching patients. As we will also see, most of Dendreon’s known detractors–including hedge funds betting against the company’s stock and Cramer himself–have ties to the famous criminal Michael Milken or his close associates. Meanwhile, there are serious questions to be asked about the precise nature of Milken’s “philanthropy” — specifically his Prostate Cancer Foundation…

    * * * * * * * *

    In January 2007, some 15 months after CNBC’s Jim Cramer announced that the FDA had rejected Provenge (even though the agency had not yet reviewed Provenge), the FDA assigned “priority review status” to Dendreon’s application to have the drug approved. Such status is typically granted to drugs whose trials suggest that they can significantly improve the safety or effectiveness of treating a serious or life-threatening disease. Some weeks after receiving “priority review status,” Dendreon announced that an FDA advisory panel would meet on March 29 to vote on whether its treatment for prostate cancer should be approved.

    FDA advisory panels are made up of doctors and scientists who are employed on a one-time basis to review a new drug. Their decisions are not binding, but in 97 percent of all cases, the FDA follows the advisory panel’s recommendations. Given that Dendreon’s data results had been strong enough to cause the FDA to fast-track things by granting “priority review status,” it was widely expected that the advisory panel would vote in favor of Provenge, and that the drug would get FDA approval soon after. This was very good news.

    Normally, this would be a time for short sellers to close out their trades. Companies receiving priority status (moving them down the road to FDA approval) generally see their stocks soar in value, and typically the prices stay at peak levels, at least until the companies present plans for how they are going to bring their drugs to market.

    But in the middle of that March, there was a strange occurrence: short selling in Dendreon began to increase at an unprecedented rate. Illegal naked short selling increased as well.

    SEC data shows that on March 16, 2007, over 1 million Dendreon shares “failed to deliver” – because they were sold short by people who did not possess any shares. That is, these naked short sellers took investors’ money but delivered…nothing.

    The numbers rose steadily, so by March 28, the day before the advisory panel vote, more than 9 million phantom shares were circulating in the market. And consider that the SEC data might understate “failures to deliver” by factors of ten or more. So by that point the market may actually have been flooded with about 90 million phantom shares – in a company that had only 100 million shares outstanding.

    On the night of March 28, 2007, Cramer commented on Dendreon again. He did not mention the phantom stock  (in May, 2008, he began a “crusade” against naked short selling, but he started this “crusade” just one day after he was exposed by Deep Capture as a central player in a media cover-up of the naked short selling scandal). Instead, Cramer offered the long-shot prediction that the FDA advisory panel would not approve Provenge. He advised Dendreon’s shareholders to “SELL, SELL, SELL!!!”

    This was the “battleground.” And Dendreon was under attack.

    * * * * * * * *

    The next day—March 29, 2007–the FDA’s advisory panel decided overwhelmingly in Dendreon’s favor. Every one of the 17 scientists and doctors on the panel voted that Provenge was safe, and 13 of the 17 panelists voted that there was substantial evidence that the treatment effectively lengthened the lives of prostate cancer patients.

    As you will recall, the FDA had followed the recommendations of advisory panels in 97 percent of all cases. So at this point it seemed extremely likely that Provenge was on the fast track to approval. Most experts expected that Dendreon could begin delivering its treatment to prostate cancer patients within six months. The company’s stock price, which the short sellers had depressed to $4 before the panel vote, now soared.

    By April 13, Dendreon was worth around $20 a share.

    But the short sellers did not relent. The more the stock rose in value, the more they piled on, flooding the market with still more phantom stock. On the day after the advisory panel meeting, at least 9 million phantom shares were sold, according to the SEC’s unforgivably incomplete data. During the following two weeks, between 9 and 10 million shares were “failing to deliver” on any given day. And on one day, April 13, overall short interest in Dendreon rose to 32 million shares – from just 8 million shares a few hours before.

    By any reckoning, this was sheer insanity. Given Dendreon’s prospects for FDA approval, it seemed like the short sellers were flushing money down the toilet. Some observers racked it up to psychology – the short sellers had grown emotionally tied to their positions, and simply could not give them up.

    But I offer several other possible hypotheses, which are all mutually compatible. The first is that the short sellers believed that they could generate enough phantom shares to drive the stock price back down, despite Dendreon’s fantastic news. The second is that the short sellers were aware that there was about to be released a wave of lopsided negative financial research and media reports (including more from Cramer) that they expected would crack the stock.

    And the third explanation is that the short sellers who made this long-shot bet perhaps knew something that the rest of the world did not. They perhaps knew that some strange occurrences were imminent, and that these strange occurrences would diminish Dendreon’s prospects. And given the especially sharp increase in short selling on the morning of April 13, they might have expected that the strange occurrences would begin on that particular day.

    Alas, something strange would indeed occur later on April 13, 2007. And after that, there was another strange occurrence – then still more strange occurrences, one after the other until it seemed that Dendreon and its treatment for prostate cancer would no longer exist.

    I will describe these strange occurrences, but first we must understand a bit more about a network of smooth market operators and a “prominent philanthropist” named Michael Milken.

    * * * * * * * *

    As mentioned, we do not know who was responsible for the illegal naked short selling of Dendreon. The SEC keeps that a secret.

    But while the SEC is of no help, most any Wall Street broker can describe several “proprietary” strategies that are popular with unscrupulous hedge funds.

    One such strategy is known as a “married put.” Normally, a hedge fund buys from a market maker a certain number of put options—the right to sell a stock at a specified price at a specified date. If on that date the stock has lost value to the point it is below that specified price, the buyer of the put option (the hedge fund) makes money, and the seller (the market maker) loses money. To hedge the risk that he might lose money, the market maker, at the same moment that he sells the put option,  also short sells the stock. This is perfectly legal.

    But some market markers conspire with hedge funds to drive the stock price down. Instead of merely shorting the shares into the market, the market maker naked short sells the shares, and, importantly, sells those phantom shares to the same hedge fund that bought the puts. As a result, the hedge fund manager winds up with the puts and a matching number of shares (actually phantom shares that are never delivered to him, but about which he never complains, or forces delivery, as that would create upward pressure on the stock, the precise opposite of what he wants).  Because the puts and the phantom shares are equal in number and arrive together at the hedge fund, they are known as “married puts”.

    Once in possession of the phantom shares, the hedge fund manager proceeds to fire them into the marketplace. But he is able to say that he never naked shorted because all he has done is sold the shares that he bought (wink wink) from the market maker.

    Either way, the effect is to flood the marketplace with phantom stock. The hedge fund makes money. And the market maker is rewarded with more business selling married puts.

    Incidentally, the fee charged for such puts do not follow any normal option model pricing (in fact, the exchanges search for married puts by looking for options that are mispriced in relation to Black-Scholes, the standard formula that prices options). That is because their pricing is not really a function of any math or statistics, but is a function of the willingness of the hedge fund to pay the option market maker to help him break the rules against naked short selling. And that willingness is a function of how difficult it is for the hedge fund to use other loopholes to break those rules.

    In the slang of Wall Street, these married puts are known as “bullets.” Through their maneuverings, the option market maker and hedge fund manager synthesize a naked short position that puts “bullets” into the hands of the hedge fund. The hedge fund fires those “bullets” at the stock to make it collapse, timing the last “bullet” to fire as the hedge fund’s put option expires profitably. If the option position nears expiration and looks like it will expire at a loss (“out of the money”), the hedge fund manager goes back to the option market maker, and together they reload by synthesizing more “bullets.”

    Until recently, this behavior flourished owing to a rule called the “options market maker exemption” which is said to have been enacted thanks partly to the pleadings of a “prominent” market maker and investor named Bernard Madoff, who had considerable influence at the SEC. Madoff also obtained an exemption allowing market makers to sell short on a down-tick. The SEC was so grateful for his help in this regard that the commission named the new rule the “Madoff Exemption.” This was before Mr. Madoff became famous for orchestrating a $50 billion Ponzi scheme with help from the Mafia (CNBC’s Charles Gasparino has reported that Madoff might be tied to the Russian Mafia; whistleblower Harry Markopolis stated in Congressional hearings that Madoff appeared to have ties to the Russian Mafia and Latin American drug gangs; and Deep Capture’s own investigations suggest that Madoff did business with multiple people with ties to both Russian and Italian organized crime).

    The options market maker exemption permitted market makers (e.g. Madoff) to sell stock that they did not possess,  so long as they were doing so temporarily to “maintain liquidity.” Abusing that exemption in order to facilitate naked short selling in cahoots with hedge funds looking to drive down stock prices was blatantly illegal, but the SEC looked the other way, even as market makers failed to deliver shares for weeks, months, and even years at a time. If anyone raised a fuss, the hedge funds would say that the phantom shares didn’t originate with them, the SEC would say that stock manipulation is hard to prove, and the market makers would say that they weren’t breaking any rules.

    * * * * * * * *

    At any rate, in March 2007, with Dendreon seemingly on the fast track to FDA approval, most traders were rushing to buy the company’s shares. A specific set of hedge funds, however, purchased large numbers of put options in Dendreon. Without a subpoena, we cannot say for sure whether the put options they bought were married to naked short sales, but simply from their put activity it is clear that these hedge funds were placing quite large bets against Dendreon, and they maintained these positions even after the FDA advisory panel voted in favor of Provenge on March 29.

    To understand how completely anomalous these bets were, consider that in the entire universe of 11,500 hedge funds, only ten held large numbers (more than 150,000) of put options in Dendreon at the end of March 2007. Two of those ten funds held relatively few (200,000 each) put options in Dendreon and cashed out soon after the FDA advisory panel meeting. They do not appear to have otherwise been major traders in Dendreon, so I will not mention their names.

    One of those ten hedge funds is Apollo Medical Fund Management, which is managed by a man named Brandon Fradd.  Fradd was once accused of burning documents relevant to a civil court case. Fradd was also once the limited partner of a criminal named Reed Slatkin, who was indicted for orchestrating the third largest Ponzi scheme in history. But Slatkin seems to have had minimal involvement in Apollo’s trading, and I have yet to uncover any evidence proving that Apollo is tied to naked short sellers or others in the network that this story intends to document. So let us give Fradd the benefit of the doubt.

    Let us focus instead on the remaining seven of the ten hedge funds that held large numbers of put options immediately after the FDA’s advisory panel handed Dendreon its fantastic news, which was right at the time that Dendreon was bombarded by illegal naked short selling (phantom stock), and just before Dendreon was to experience some strange occurrences.

    The managers of these seven hedge funds all know each other well. They have all worked with Michael Milken or Milken’s close associates. They include the following:

    1. a fraudster and naked short seller who is believed to have stolen billions of dollars with help from Russian and Italian organized crime;
    2. a trader working for a man who once managed, along with his father-in-law, the dirtiest, Mafia-linked brokerage on Wall Street.
    3. a trader who co-founded his fund with a man who was jailed for plotting to murder Michael Milken’s famous co-conspirator, Ivan Boesky;
    4. a man who became the “most powerful trader on the Street” after working for one of the most notorious, Mafia-linked brokerages on the Street;
    5. an accused naked short seller who was at the center of the greatest scandal in SEC history, and is now under criminal investigation;
    6. a fellow who once owned a fund that was charged in a massive naked short selling fraud and was later mixed up in a Mafia-connected, criminal naked short seller’s scheme to bribe agents of the FBI; and
    7. a Russian “whiz kid” who was the top trader for a man who once worked at a notorious Mafia-linked brokerage—the same brokerage that once employed the criminal naked short seller who bribed those agents of the FBI.

    Again, judging from SEC disclosures of put option holdings, these seven colorful traders (plus Fradd, whom I have yet to tie to this network) were the only hedge fund managers on the planet who were placing serious bets against Dendreon after the FDA’s advisory panel voted in support of Provenge.

    So let’s get to know more about these seven colorful traders–and then let’s try to surmise whether they knew about the strange events that were about to occur in the Spring of 2007, and whether those strange occurrences had anything to do with a “prominent philanthropist” named Michael Milken.

    * * * * * * * *

    To be continued….Click here for Chapter 3

    If this article concerns you, and you wish to help, then:
    1) email it to a dozen friends;
    2) go here for additional suggestions: “So You Say You Want a Revolution?

    This post was written by:

    - who has written 87 posts on Deep Capture.

    Contact the author

    53 Responses to “Michael Milken, 60,000 Deaths, and the Story of Dendreon (Chapter 2 of 15)”

    1. kyoto27 says:

      Mark, you note “in 97 percent of all cases, the FDA follows the advisory panel’s recommendations.”

      Are you aware that FDA refusal to follow an overwhelming AC recommendation for approval of a drug for an end-stage disease is unprecedented?

      It makes the short positions that much more bewildering, damning….

      Hope you can note this fact going forward. Meanwhile, WOW!

    2. Paul Haider says:

      Wow! Out of a universe of 11,500 hedge funds, only 10 hedge funds held a substantial amount of put options in Dendreon at the time of the advisory panel meeting and that the 7 of those 10 managers of those hedge funds worked with Michael Milken or Milken’s close associates is quite shocking. Truly great work Mark!

    3. Tar_&_Feather_Them says:

      It is just unbelievable that a reporter has to uncover the crimes that SEC and FBI should be unraveling.

      Who at the SEC pulled all those scumbag reporters subpeonas? The shame of it all. The shame.

    4. huck says:

      There is 1 more possibility here. Those selling short are using the great capital raising opportunity the market is suppose to represent, to “raise the capital” for themselves. They want the wealth of the world to be funneled into their greedy hands. The rest of the world can get screwed. They want all the money, and power, for themselves. The naked shorting is just the tool, those scum utilise the have something to sell to any buyer. How else can a worthless parasite profit from the good will of decent people? Actually do the work to provide a thing of value? Far simpler to manufacture a bogus nothing, and sell that. Just a thought, on the true psychological make up of the enemy of humanity.

    5. lenofus says:

      Linda Thomsen ate the cookie from the cookie jar. Remember. Greenberg and Cramer got them from the SF office. To get those subpoenas , there had to be cause. Cramer had the famous “subpoena toss”. Cox and Thomsen pulled them. Later, an attorney in the SF office said that was ‘demoralizing’. Start with her, and Cox. Then work up to the money source. You’ll run right into Mitchell’s story. That’s my guess.

      I doubt seriously that any of these misfits every thought this would all get this far. They simply gutted the system, until there was nothing left.

      O’bama said it. “We’re out of money.” Now what?

    6. NELLIE OLSEN says:


    7. NELLIE OLSEN says:


    8. hangthemall says:

      Remember those who control the army control ROME,,,Who are the dirtbags who naked shorted (FRPT) and why did the SEC alllow it? Let the solders know who they are, Disgrace

    9. kelatious says:

      How to clean-up Wall Street:
      1. Appoint Mark Mitchell and Patrick Byrne and team and Harry Markopolos and his team as Special SEC Task Force.
      2. Actually punish the plethera of crooks the Task Force catches.


    10. Akcje says:

      Mark Mitchell,
      you wrote: “But some market markers conspire with hedge funds to drive the stock price down. ……”

      And you proceed to describe a mechanism which makes no sense at all. In your own example the Market Makers take the _opposite_ side of the hedge fund. And yet, they “conspire” to help the hedge funds to take their own money away. Amazing how charitable those MMs are…

      Of course the same nonsensical “mechanism” was posted thousands of times over the years on Yahoo and IV boards by market ignorant posters. Just because you repeat their nonsense does not make it credible. Now, more posters will quote your “piece” in turn, and so the circle of ignorance continues.

      And then you do a similar trick with Madoff and Russian mafia. You write:
      ” …Mr. Madoff became famous for orchestrating a $50 billion Ponzi scheme with help from the Mafia …”

      There were in fact some vague reports claiming that Russian mafia was among the investors screwed by Madoff. Perhaps Russian mafia learned from your market makers to voluntary give money away….

      Another example of your BS style:
      “judging from SEC disclosures of put option holdings,”

      “Judging”??? What does it mean? “Guessing”? If so, write “guessing” don’t BS and pretend that SEC disclosed to you something they didn’t. And provide the basis for your “judging”, or you may as well tomorrow be judging that it was me or Santa Clause naked shorting “90 million shares”. Why not 500 million claimed by the likes of you on DnDn board? There was a character on DnDn board who lied that he got this number from SEC upon his FOIA request.

      In the meantime there is plenty of real stock manipulation going on all the time, but you just help to take attention away from these problems with your sensational TV-infomercials style.

      You will enjoy applause from many confused Dendronites, I’m sure. And yet, you make real disservice to the goal of cleaning up the Wall Street. If I had your paranoid-conspiratorial streak, I’d claim that you were hired by hedge funds and market makers to make insane claims to discredit other, real descriptions of their misdeeds. But I think you are innocent, and just love laying thick this BS.

    11. hangthemall says:

      akcje,,, Mr Mitchell said (if you are reading)this is part 2 of 15 has much more, let only hope your somehow related to this nice group. If not, lets read until its finished. And please read it again and dont skip the big words. There is plenty of rope to join the Chain Gang

      • Akcje says:

        hangthemall > lets read until its finished. And please read it again and dont skip the big words.

        Yes, Mitchell uses plenty of big words, but provides no new substance at all. I’ll certainly read the remaining chapters of his tabloid style “reporting”, since I hope he may eventually add something new. So far he is just repeating the same stuff that was posted many times on IV message board (http://www.investorvillage.com/iv2/smbd.asp?mb=971&pt=m) and in many web blogs. It is not investigating reporting, but a very verbose concatenation of those hundreds of posts.

        And the stuff Mitchell added is pathetic in his insinuations but with disclaimer of him knowing any wrong doing. Or even knowing anythiong… He is very, very afraid of being sued for libel:

        Mitchell : ” I have yet to uncover any evidence proving that Apollo is tied to naked short sellers or others in the network that this story intends to document. So let us give Fradd the benefit of the doubt.

        Well, if Mitchell didn’t “uncover” any connection, why is mentioning that Fradd guy here at all?! Perhaps he just throws so many names and accusations in hope that something will stick. But somebody else would have to do investigating reporting…

        Some of the stuff he rehashes are certainly real issues, like the despicable conflict of interest of some FDA influential decision makers. But most so far was the usual raving about market shenanigans. Those do happen, no doubt way too often. But Mitchell gives the most common and a wrong imaginary picture of when and how it happens.

        As I said before, Mitchell generates plenty of noise, so the voices raising real issues and proposing real solutions are harder to hear.

    12. hangthemall says:

      Mr Fradd must be a good guy he gives money away $76k to be exact. That alwasy means they are good people. http://fundrace.huffingtonpost.com/neighbors.php?type=name&lname=Fradd

    13. Fintas says:

      Mark: Great investigative work. However, one doesn’t have to look at Dendreon to see corruption. Take a peek at GE. Recently on May 29th 2009 as GE stock was trading in the 13.33-13.53 range, someone implemented a SIGNAL trade at 12.22 as the stock closed at 13.48. The following trading days saw GE trade from a peek of 13.99 to the low 13’s. UNTIL by some miracle GE stock traded down to the SIGNAL trade of 12.22 on June 17th, hmmm 13 trading days later, in preparation for a FRONT RUNNING negative article by the WSJ that was presented the DAY BEFORE OPTIONS EXPIRATION. So how is it the SEC or others didn’t see that SIGNAL TRADE and the set up to bring GE down under certain strikes? The question begs, complicit or BLIND! Ge continues to be a victim to those who play this game of ABNSS. WHY? Politics or the hope to disrupt and break up this company but with an impact that has global consequences?

      There is no question that Denderon is/was blatant, Yet right before our eyes the game continues with GE and others Those who are good with forensics can obtain the facts re GE. But until those who give a rats arse do something to stop the game and enforce the law, and put those responsible in jail, millions continue to be harmed while Nero and his gang do nada and play their fiddles.

    14. Paul Haider says:

      Dendreon was on the SEC’s Regulation SHO threshold security list for nearly 600 consequtive days and was heavily shorted at the time of the FDA advisory panel. The short interest in Dendreon actually increased 50 percent pursuant to the positive recommendation of the Provenge Advisory Committee meeting. This response by investors is completely illogical unless somebody knew the outcome in advance.

    15. Cara says:

      I just want to know why this information is ignored by the SEC. Why are our political officials not crying foul about this. No doubt these crooks will rot in hell, but they should be locked up and put away. This is needless to say but wanted to vent. Cramer and his ilk should be banned from going near a stock nevermind having the power to manipulate them. NBC should also be given a piece of our minds in that they keep that clown on the air. Disgusting.

      Good work. Let’s hope someone somewhere in power sees this and is as outraged as the investors in the company are. This must stop.

    16. Fintas says:

      Those in power see it. BOBO is correct, the only way that this could have gone on and CONTINUE to go on is because it is and has been ALLOWED! It is up to US WE THE PEOPLE to remove those from office or their jobs that fail to do their jobs. It really is that simple! And let’s not blame just CNBC. There are a gazillion reporters and others out there. Why is it that a handful of the righteous can only be found on deep capture or the sanity check? Simple. The MAJORITY are COMPLICIT!

    17. harveedawabbitt says:

      howdy AKCJE,

      thanks for your opinions.
      however we will continue this fight against corruption regardless of what our opposition
      says or thinks. you see right always wins over wrong.
      good always wins over evil.
      as i read your posts it appears to me english is not your first language. are you russian???

      • Akcje says:

        harveedawabbitt > we will continue this fight against corruption regardless of what our opposition
        says or thinks

        I’m not your “opposition”. I was always of opinion that Provenge should have been approved in 2007, with a required follow up on patients to confirm it’s benefit and I’ve been long DnDn. I’ve always acknowledged that the stock market rules and enforcement require a huge overhaul to make them more honest and to stop helping the large investors against small investors, since the large ones have advantage anyway. But I’ve little patience to the nonsense even if used with good intentions.

        harveedawabbitt > you see right always wins over wrong

        This is very naive and obviously not true! Even rudimental knowledge of history should suffice to see the falsity of such claim. Or just look around now…

        harveedawabbitt > it appears to me english is not your first language. are you russian???

        Why, because I spell “english” and “russian” lower case? 🙂 OK, you made a very good guess, although a few hundred miles off. My nick is a giveaway 🙂

        BTW, in part-1 you’ve complained about Cramer claiming mistakenly years ago, that FDA turned down Provenge.
        Are you happy now, that today Cramer made the opposite mistake? -Saying that Dendreon got approval from FDA … (see http://www.cnbc.com/id/15840232?video=1160869474 )

    18. tom waits says:

      Markopolos mentioned one other agency besides the SEC that is equally incompetent and in bed with the industry it is supposed to protect us from.

      The Food and Drug Administration
      Was this Dendreon/Provenge he was alluding to???

    19. The Man says:

      Freaken amazing, this article was published on June 21 and here it is June 22 and Cramer is now discussion DNDN on his show … one of his first orders of business!

      See if for yourself!

      That man has got to be sweating it out right now….

    20. sean says:

      The correct link for the lightening round…


      Go to 2:40 minute for his comments on DNDN

      The guy is a blatant Criminal and I hope he gets whats coming to him.

    21. Anonymous says:

      Now I know our regulators will never do a damn thing against the market manipulators or the havens in which they stash their ill gotten gains….No punishment for the Criminals….No justice for the victims….LETS ALL OPEN SWISS ACCOUNTS…Bet the BIG Brother comes after us ? We’ll be cherry picked out for prosecution…


      U.S. Justice Department may settle UBS tax evasion case

    22. iStandUp says:

      I have a question for those who have followed DNDN story:

      Have you ever noticed or seen an AP Writer produce a story about DNDN that was full of only half-truths to produce a negative slant on a positive story?

      If so, do you know the name of the AP Writer?

      An AP Writer by the name of Linda A. Johnson, AP Business Writer just published a story about another bio-technology company MEDX after Mayo Clinic reported some never before seen results with a combination therapy:


      Here is the story as told my Mayo Clinic, which is quite different than what the AP writer wrote:


    23. sean says:

      IStand, you can tell th eimmediate slant of the AP’s story!!! Reporter/author bought and paid for!!!

    24. moviex says:

      nice stuff i was looking for this thanks for sharing

    25. The Man says:

      Mark, please don’t publish the 15-parts too fast … make sure it gets _PLENTY_ of attention to each part…. I know there are a few people who are freaking out right now…..

    26. Revolt says:

      Michael Milken is not going to like this article in one to two weeks – that is if he is not already ticked off!

      Do a search on Google for “Michael Milken” and this article alreayd rose to position 14 (page 2) of the returned result. As for the other two engines.

      Yahoo: position 78
      Bing: position 25

      At the rate it is going I speculate in two weeks the positions will be as follow:

      Google – top 10
      Yahoo – top 20
      Bing – top 10

      The top 5 spots will be hard to beat which is Wikipedia and three Milken owned sites with the ‘milken’ name in the URL.

      If this article hits the top 5 spot on Google search in a month I say Milken and friends will probably either file a defamation lawsuit and try to make the site disappear or get the underworld to go after Mark Mitchell and Patrick Byrne!

    27. ginger says:

      Dendreon… le sujet d’année et du jour.


    28. iStandUp says:


      As I suspected the AP Business Writer, Linda A. Johnson, did NOT update her article to correct her half-truths on her Mayo Clinic prostate cancer article.

      This leaves me with the impression that Linda A. Johnson was NOT interested in reporting the full truth, and that her purpose was NOT to report the full truth.

      Her actions have left me with the impression that she indeed was bought to create or published a canned negative article.


      Here is the story as told my Mayo Clinic, which is quite different than what the AP writer wrote:


    29. SueRae says:

      Thank goodness for men like Mark Mitchell and Patrick Byrne, men who are as fed up with the crookedness of the market manipulations and the bad actors that have tried to ruin this company. Who knows how many lives could have been saved had these unscrupulous people had not interfered. Dendreon will prevail but just how many other promising biotech companies and novel treatments were lost or delayed due to their actions.

      I hope Mark and Patrick run for public office. This series and their continuing efforts should be applauded by all honest investors who once believed that companies in a free market system can succeed (or fail) on their own merits. The criminality exposed is breathtaking. Thank you gentlemen.

    30. Dr. H. M. Hackett says:

      Any chances you could or would comment on whether or not you think that these same “bizarre and highly illegal” naked short practices are being employed on the current whipping stock of the biotech sector – HEB? Would love to hear your thoughts on how this stock has been manipulated illegaly.

    31. Polar40 says:

      Thank you for explaining the trick of married puts (buying puts/shares) used by hedge funds to sell short and allowed by market makers( for commission earned), but there has to be some confidance that the shares will drop (collusion) with the FDA committee delaying (conflict of interest)or Cramer’s ranting.

    32. Jack says:

      THis article is very much the truth.
      SEC never does things to truely protect companies and investors. SEC’s goal is to protect mafia – the criminal groups.
      Hedgies is a connected world, their strategy is now revealed. They use all their resources to attack one company at a time. The naked short selling can easily drive any stock down in a few minutes or a few seconds.

    33. Our store offers a variety of cheap Lions authentic jerseys with a nice price,package your satisfaction!

    34. huck says:

      I was quite disappointed this afternoon when I was notified by yahooy that there weren’t enough buzz’s to promote this story to their news……. Let’s get with it folks. BUZZ this up.


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