Who else thinks Einhorn is fishy?

This morning's announcement shows that Einhorn is spot on, and LEH were lying

 

einhorn is finkle

 

How much did you lose on your paper LEH position today?

 

It's kinda of ironic the SEC is wasting manpower on the Einhorn's of the world and the Prince's (Citi) and Caney's (BSC) are free to walk.

 

Another attention seeker bites the dust.

Einhorn is a solid manager with money on the line backing his opinions.

The only arbiter that counts is the market, and people that like the drag things into the court of public opinion usually are the ones with the devious personal agendas.

 

Agreed. I believe there are people very high up that hopes this guy gets killed in this postion. I don't see how, given these idiots blew the easiest game in the world: they can't really make any money. Maybe, though, with his talk, it's a really crowded trade, and it'll squeeze him. Who knows. But if you have to come out and talk it up, something is up.

 

lol. You know, tryin to pick between a hustler talking his book and a pack of thieves is a fools errand.

No, afraid I didn't lose a dime real or imagined.

 

PPT coming load the boat on YM.

 

Not as clean and strong as I would have liked but good enough.

Scaling out 12300+ into AH's possibly.

 

<<< Not long before NovaStar came under attack, Michael Milken, the “junk bond king,” appeared in the offices of Allied Capital, a DC-based financial company that shares certain financial characteristics with NovaStar. There, he told an Allied executive, “You know, I already am quite a large shareholder of your stock - but my name will never show up on any list you’ll see.”
This may have been a reference to a practice called “parking stock” (owning stock but “parking” it in the accounts of friends with whom one has made under-the-table arrangements), a practice that figured in the high-count indictment that sent Milken, along with Boesky, to prison in the 1980s.

Milken returned on several occasions and seemed intent on ferreting out every detail of Allied’s business. Then, the interrogations came to an abrupt end.

A couple of months later, Cramer’s friend David Einhorn was at a hedge fund luncheon. Sitting next to him was corporate raider Carl Icahn. Halfway through the meal, Einhorn stood up and told the hedge funds assembled in the room,, “Allied Capital is going to zero!”

On April 26, 2004, Dan Loeb (a.k.a. Mr. Pink, the guy who once promised to go to “war” for Einhorn) posted a comment on a Yahoo message board, saying: “ALD [Allied] turd getting flushed, swirling down the toilet.”

After that, Allied became the subject of dozens of hatchet jobs by Herb, Carol Remond, Jim Cramer, Jesse Eisinger, and TheStreet.com. At the same time, a report on Allied’s supposed misdeeds, created by the Kroll Investigative Agency, was handed off to a politically connected Texas businessman named Jim Brickman, who delivered the report to the SEC and the Department of Justice, which began investigations. These inquisitions became so onerous that Allied had to create what one employee calls the “Department of Investigations” just to satisfy the government requests that poured in, year-after-year.

Jules Kroll, who founded the Kroll Investigative Agency, is a close friend and next door neighbor of Einhorn - and the agency seems to have developed a unit tasked specifically with manufacturing dirt on companies shorted by the Cramer constellation of hedge funds. So it is fairly certain that Einhorn or one of his cronies commissioned the report that was submitted to the DOJ, and it should be unsurprising that most of its allegations were groundless.

After four years of ongoing investigations, and countless media stories alleging wrongdoing, charges have been brought against one person - an ex-employee of a company that represents less than 5% of Allied’s portfolio of investments.

Meanwhile, the SEC and DOJ have yet to investigate claims that Allied is the victim of illegal phantom stock selling. So Deep Capture has done it’s own investigation. This took all of five minutes - the time we needed to write and send a Freedom of Information Act request to the SEC. The SEC wrote us back, providing data showing that there have at times been 3.5 million phantom Allied shares. That is, somebody had sold at least 3.5 million shares that were never delivered because the shares did not exist.

And again, that number represents phantom shares in just one corner of the system. The number of phantom shares in the rest of the system is thought by most observers to be many times greater. However, the SEC refuses to release data about the number of phantom shares in other layers of the system. In fact, Patrick, Dave Patch and others have suggested that the SEC might not even know.

In any case, the SEC has the power to prosecute the sellers of phantom stock, but it has so far refused to do so. >>>

DeepCapture.com