Corruption at SEC.......

Discussion in 'Wall St. News' started by flytiger, Sep 22, 2008.

  1. In 2006, Cramer and Greenberg were subpoenaed by the SEC's SF office. That was when Cramer wrote on his, and threw it on th floor - not a smart thing to do. Since, Greenberg has not only retired, but disappeared. this story is not over. It hasn't even begun. This stuff doesnt' happen unless someone is paid.

    On Bloomberg.....................

    Gradient is a defendant vs. Overstock, FYI....

    The lawyers say that Cox has slowed cases and instituted policies that take decision-making away from line-level attorneys.

    Cox angered some rank-and-file enforcement attorneys when, in February 2006, he publicly rebuked the division for issuing subpoenas to several journalists. The SEC had requested e-mails and other correspondence as part of an investigation into whether Gradient Analytics Inc., a stock research firm, had colluded with short sellers to spread misinformation about public companies.

    Cox Not Consulted

    Cox issued a public statement saying that he hadn't been consulted before the subpoenas were issued. ``Issuing subpoenas to journalists can pose a genuine risk of chilling the kind of reporting that investors depend upon,'' Cox writes. The SEC withdrew them.

    ``To have the chairman publicly slap us in the face for doing our jobs -- that really crushed the spirit of a lot of people for a long time,'' says Kathleen Bisaccia, the SEC attorney who supervised the investigation. Bisaccia quit the SEC in April 2006 after 17 years and is now a managing director at FTI Consulting Inc. in San Francisco.

    In February 2007, the SEC dropped its probe of Scottsdale, Arizona-based Gradient.


    http://www.bloomberg.com/apps/news?pid=20601109&sid=aevZB0zyXNZw&refer=home
     
  2. let me guess...

    you are short from thursday morning and still holding