OSTK ceo

On Gasparino, the lawyer for Weiss says that they were "protecting the public". Has anyb ody here ever got a check from a class action suit?

Hint. When you're paying witnesses from a safe, 9 out of 10 times it's a problem. I think that's in the first year of law school, right after the ten minute "ethics" section. That 's the one where you take a payoff and instead of ten hundreds, there are eleven. Ethics comes in where you say, " should I tell my partner".

You guys, as traders, should be guessing who gets it next, and what it means to your bottom line. I have some select sector scans going. Wanna guess who they are?
 
Having been an attorney in San Diego where the Lerach (sp) kept his main office. I know people who worked at Milberg Weiss and I know executives that hated their guts because they were "extorted" by Milberg Weiss. I even know two guys who say MW cost them their companies. Milberg Weiss looked or looks for companes that have quick drops in price. Usually from missed earnings and then goes back and tries find misleading statements by the officers. ( MW also had ethics problems in the past. )

But you know what my acquaintances did not lose their companies because of shorts or MW. They lost their companies because they were running them unprofitably. Yes in the late 90s if you stock was high you could by up other stupid companies and look good temporarily. But in the end you had to make money.

Now in the 2006 who gives a crap about the price of your stock if you are making money? Same thing I said at the beginning of this thread. If your business model works you have no fear of shorts. If your business model consists of swapping shares for more debt I guess you get concerned.
 
so the fact that an OSTK has 9mm short at least and 6 at the DTCC has no bearing? MW should have the right to select who dies.

What do they teach you people in Law School?

This is FBI stuff. There is much more you don't know. It is my opinion, before it is over, there will be no doubt what is done. But I am sick of these, "well they don't run it profitable, so what?"

What are you guys, the Kervorkian of the business world.? When you pay somebody out of a safe, it is more than likely a problem.
 
........a paragraph from the NYT

According to the charges, the scheme involving Mr. Lazar and two other paid
>plaintiffs worked like this: Plaintiffs would buy securities anticipating
>that they would decline in value, hence positioning themselves to be named
>plaintiffs in the class actions.

Now, how did they know what stocks were going down? Take
s a lot of work to file a suit, even a fraudulent one. You would hate to waste your time. Well, you will find out very soon.
 
Just to reiterate:

Why is a famed, career short seller (Rocker) retiring now and taking his name off the door of his hedge fund?

Look at your screens - is this the type of market a short seller just walks away from?

To say it doesn't make sense is an understatement.

Right or wrong aside, Rocker is clearly worried.

And don't talk to me flydude - you are still an obnoxious prick. (I'll simply grant that you are entertaining ...) :cool:
 
Quote from BlueHorseshoe:

Just to reiterate:

Why is a famed, career short seller (Rocker) retiring now and taking his name off the door of his hedge fund?

Look at your screens - is this the type of market a short seller just walks away from?

To say it doesn't make sense is an understatement.

Right or wrong aside, Rocker is clearly worried.

And don't talk to me flydude - you are still an obnoxious prick. (I'll simply grant that you are entertaining ...) :cool:
More...

LOL. I can admire you going against your emotions and breaking the code. You are a pro. That I can see. Because I know you want me and PB to fall off a cliff, and get run over by a bus.

I do wish we were in an airy pub someplace. Man, this is just an unbelievable story.

"It was a dark, and stormy night............"

I'm still laughing, because you must know me, but I can't figure where we met. most people don't call me obnoxious. Just prick.
 
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Quote from jkr0601:

OSTK CEO is a complete whack job - I would not be shocked to find out flytiger is him. Wasting time posting on ET when you should be running your company.

Freak.
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Quote from ratboy88:

wow... another genius late to the party that has no idea what this whole dynamic is about. i am very serious when i say that it amazes me how stupid some posters on here truly are.

we covered the "flytiger is PB" many post ago, please read the thread so you dont look like a moron.
More...

i guess joker is still sore from this earlier post i made. i am thinking it hit a nerve. awwwwwwwwwwwwww.. i am so sorry i upset you.
 
Like everything else, the story is much deeper than is reported. Not all the companies are listed. I guess the idea is not overwhelm a prospective jury. You know the old adage, " how would you like your fate decided by twelve people not smart enough to get out of jury duty"?.

There is so much to this, and it's not for me to talk about it. If I were a reporter, I guess I could say, "according to sources......" just before I killed myself. Buit I'm not.

You've seen enough up to now to know, it's real. And I am told this is huge, huge news.

I know a party you all know was aware of it's possibility. The response I got to a WSJ article was "this is some serious shit". Keep your eyes peeled as professionals, and lets' stop with the attacks. I think we can all agree this is something that needs monitoring, it is interesting as hell, and it has huge ramifications for all of us, in one way or another. The thread title probably should morph into, "financial scandal", or Milberg sings the blues, but this will have to do. It's evolved just like the story. When I first posted, I knew it had tenacles, but man, this is nuts.
 
Just a thought.

It is widely believed that short-sellers play an invaluable role in keeping market prices 'efficient.' Think about it - all those nut cases and gurus with their "buy" recommendations need to be balanced or offset in the cacophony of noise somehow. This conviction is held at the very highest regulatory, industry, and academic circles.

If traditional short-selling ala Rocker all but comes to an end, I predict this could light a fire under demand for Single Stock Futures. Use of SSFs would allow shorts to continue their effort, just with a different vehicle.

In my opinion, that would be a very welcome change - really raise transparency and 'level the playing field' if you will.

We may be seeing the birth of a real SSF market.
 
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