Patrick Byrne on Cramer................

[flytiger]

Quote from AAA30:

Fly, I agree with yours and Byrne's call for better regulation and less manipulation.

I bought puts in OSTK when it was in the forties a few years back. This was before I even knew what a naked short was. I think I went with the puts because I could not get shares. Anyways although Byrne has helped to increase peoples consciousness of this problem he most likely hurt the shareholders of OSTK because of it. If you are a friend of his I would recommend you advise him to pass the baton on to a new figurehead for the cause because with the current economic environment a company like OSTK should thrive. If it is not able to do so he may not have a company left the next time we have a good environment for a liquidator.

Naked shorting and manipulation are bad things and should be stopped but it is also bad for investors to have a Chairman and CEO who is not completely focused on operating a successful business.

I just noticed you can leave comments on his blog so I will also let him know my feelings there. Peace.

I wouldn't be so bold. As a matter of fact, we, me and several others NEVER talk about Overstock. It is taboo. It's not what this is about. It's hard to explain, but it's like when they attac.......ah. When he did the Aug 12 05 Miscreant's Ball. He said, and I paraphrase......"I feel as if I walked down an alley, and someone tried to mug me. I made it, but when I looked back, 12 of my friends didn't ." That is what makes him tick. I dont' know anything about retailing. Don't want to. Dont' want to give him advice on retailing. I have given him advice on markets.

I'm putting this here, I can never tell you some of the people who have contacted me through ET, but they have helped greatly. I'm putting this here in the hopes that people who love the markets as I do will step forward, if only in voice, and help us demand a change. You can see by the events two weeks ago Sunday that left in the hands of these paid off stunads, the whole system is in jeopardy. If you don't believe it, don't. But you will be shocked at what you see next. Because everyday I'm shocked at how stupid and greedy this is.

Did you see Cramer's piece on sending stuff to CEO's to come on his show, and no one responded? Wonder why? Wonder who those CEO's were? (-:

Every week, tremendous developments happen behind the scenes. The walls are closing in, but not soon enough. Go to NY times today. Article on Switzerland. Read it and link it. Soon, I'll tell you how important I think it is. But not now.
And by the way. If you think Patrick is 'on to something', and I wa s there way before him, and he is, think about who he knows, and see who stands beside him - NO ONE. What's that say about the present group of World Financiers?? They are so into themselves and the buck, they let the entire system fail. And CNBC thinks they are heroes to look up to. We'll see how CNBC fairs. Don't forget. OSTK goes to trial 9/9 I think. And Patrick has said 100 times, let's see how 12 ordinary citizens view this. Hopefully, they'll be somebody to collect from.

http://www.nytimes.com/2008/03/29/business/worldbusiness/29swiss.html?ref=business

 

[jhithers]

Wow.

 

[sprstpd]

Quote from flytiger:

Great. Tell me why? Give me some facts. Then, we'll all judge you. You just show up, selling wolf tickets? Spill. Let's have your extensive research.

The 'ole ET, "yeah, well go fuck yourself." Nice argument. Two brilliant, fact filled entries. Let's see if I can paraphrase the first.

"Yeah. He's an idiot. Ha ha ha." MMM MMM. Brilliant. Earthshattering.

Your arguments are not much better, flytiger. It has been years since you have said something is coming down the pipe and we'll all see how right you are, but it never happens.

 

[flytiger]

Quote from sprstpd:

Your arguments are not much better, flytiger. It has been years since you have said something is coming down the pipe and we'll all see how right you are, but it never happens.

Excuse me? Do you get a paper? Did you see the SEC's power is usurped? How do you think that happened? Did you happen to see Cox pass anti fraud provisions vis a vis naked shorting? How do you think this all happens? Do you not think Patrick has been there over and over with his team? And he wasn't there for OSTK.

If you're paying attention, the signs are there. But one thing is very, very troubling. I heard about this Fed / Sec thing Thursday. I know how this crap works. And for them to move this quickly, they see something extremely ominous. It has to be much more than I see for this quick a reaction. For example, what was the time it took to bail out Bear? This move was just as severe and quick. And, by getting the SEC out of the equation, and with a new IG, I think, finally, the SEC's days are done. I truly hope so. They are a disaster. Let's keep our fingers crossed they can stave off disaster, and change the system to circumvent this from happening again for 30 years.

Look at it this way. You're living history. You may be living it in the street, but you're living history.

 

[pcdunham]

Quote from flytiger:

Great. Tell me why? Give me some facts. Then, we'll all judge you. You just show up, selling wolf tickets? Spill. Let's have your extensive research.

The 'ole ET, "yeah, well go fuck yourself." Nice argument. Two brilliant, fact filled entries. Let's see if I can paraphrase the first.

"Yeah. He's an idiot. Ha ha ha." MMM MMM. Brilliant. Earthshattering.

how about the old "show me facts" mantra. first of all thats a non starter since by definition a normative statement is not dependent on outside facts. my opinion of him is based on my definition of jackass and is not contingent on your definition of it.

all you have said is you "know" him. You're basing your favorable opinion of him on observations of his behavior the same way any other person forms an opinion about another. I will cite the fact that the stock is below it's ipo price and down from its high of almost 80 which implies he sucks at managing the company unless you will argue that performance of the stock has nothing to do with management and ceo's should not be accountable to shareholders. I will also say that stocks don't go parabolic and give back all of their gains when a company is well run and has a good business model. So, the main point is that you are being a pretentious dick questioning my credentials and right to comment on his assinine rants just because you "know" him.

BTW, I never said "go fuck yourself", or even address you in my first comment, but since you decided to address me with the pretentious credentials crap, now I will say go fuck yourself

oh, and Cramer is a jackass too. http://adamsoptions.blogspot.com/ routinely finds inconsistencies with cramers picks and convinient changes on thestreet.com

 

[flytiger]

I base my opinion on bringing him information, talking to regulators he went to before they cut us off as they started their investigations, hearing what his stand was, and his now 2 1/2 year track record of doing the right thing. His stand was and is, I bring everybody along. We leave no one behind.

I base my opinion on a real outsider coming into my arena, seeing wrongs, getting involved, learning, pouring personal resources into this. I see him doing this when the people who extract tens of millions don't put any seed into this, they just take. What' s Blankfein or Mack or Thain or Prince or O'neal done for the industry? Mozilla? He looks good, so he gets a pass.

I base my opinion on someone I know goes 24/7. I called the last month. Said, 'hey, these fellows are meeting in XXX and they have with them XXXX. Someone suggested you might want to catch a flight and meet with these fellows., and they wanted me to ask you.

That took five seconds. "I'm there'> And they were industry guys who are being slaughtered because they are trying to play fair. He was no where near that City, dropped his own dime, and went, and was a big hit with industry guys. Because he said later, "I thought all my old Wall St. friends deserted me."

I base my opinion on someone so honest, that no one wh has his ear can even ask a question about overstock, lest it be considered out of bounds. And I've never seen so much as a flinch

I've seen lobbyist want to help us, and ask for a check, I've seen congressman and Senators say, 'sure I know XXXXXX, I'll help". Find out about how big it was and walk (Richard Baker anyone?) I 've seen guys not even pretend to help us. Spitzer took a huge contribution from O'Quinn, and then stiffed him. Nope, I know chicken salad from chicken shit. You believe what you want. But if I just get people hitting Deepcapture.com, they'll be enough people, some influential, who might get involved while there's something left. There isn't much. And right now, someone very influential is reading this nodding his/her head.

BTW, knowing what I know, I consider these crimes acts of sedition. In the trial of Elgindy, the Judge didn't want a terrorism trial. But Elgindy funneled money to Hamas and PLO. And that money was earned from naked shorting, and he couldn'thave done it w/o prime brokers. And much of the ill gotten gains, our money, rests in First Nat'l Bank of Curaco (frozen) Sterling (frozen) Lichtenstein, and Switzerland, and Austria. probably much in Eastern Europe. None of this money has been properly taxed in the US, and amounts to trillions. Again, some of the links have been shut down by authorities, so I can't send you there. But Patrick Byrne said in a recent interview that SEC employees had "pre - loaded ATM cards." Now, you chew on that. and then you search Howell Woltz, who was arrested for pitching an undercover IRS agent ont he beauty of your money coming to his bank, of you having an ATM card to swipe on shore, and that the US Treasury never seeing the money. Then, search James Currin, top Republican of the State of NC, who worked with Woltz, and one of the charges they got him on was having in his possession an offshore ATM card. Duh. Look it up. Put the links here. But don't dog me, and say we're tinfoil hat guys. Because this has happened, is happening, and will continue to happen to the detriment of you all. Like paying taxes while the biggest guys on the Street are/were using offshore? Idont.

Now, let's just see who shows up on those lists, shall we?

Oh, trading wise. These idiots used subprime, naked shorting, auction rate....... All t his is shut down. where is their earnings power? There ain't no earnings power. Is there?

 

[pcdunham]

cool, so he is crusading against naked short selling and apparently fights terrorism on the side. all the while, the company he supposedly runs is losing more money now than it did 5 years ago and has never been profitable. So you relay messages to him, what are you a secretary? and terrorism? that sounds like a GWBush speech - mention iraq, al qaeda and 9/11 randomly throughout the speech, throw in some essoteric indirect relationships between the three and voila, iraq helped al qaeda with 9/11. so you talk about patrick byrne crusading against naked short selling then you jump to naked shorting is connected to terrorism(sorry, must have missed the segue). so whats the point? patrick byrne fights terrorism and naked shorting? or am I unpatriotic because I'm not joining in with him to crusade against naked shorts? I still think the guy is a wackjob. he is delusional if he actually believes that naked shorting caused ostk to go from almost 80 to 10... and still hasn't recovered.

 

[pcdunham]

Quote from flytiger:



Now, let's just see who shows up on those lists, shall we?

Oh, trading wise. These idiots used subprime, naked shorting, auction rate....... All t his is shut down. where is their earnings power? There ain't no earnings power. Is there?

did you really just try to connect subprime, naked shorting, auction rate securities to terrorism? LMAO

 

[flytiger]

Quote from pcdunham:

did you really just try to connect subprime, naked shorting, auction rate securities to terrorism? LMAO

You are just plain ignorant.

Amir, "anthony" "Tony" Elgindy is the son of Egyptian Nat'l s who fronted "charities" to raise money for terrorist organizations. On Sept 10, 2001, he told friends the Dow would drop 3000 pts while he had liquidated his only 'long' accounts, and wired the money to Lebonan. If you search the net, you can find all you want, plus, you can start to get a feel for his insider trading ring, where he had contacts to the FBI, and the SEC. As a matter of fact, even though there are very few pages publicaly available, he is seen calling a short on a stock the SEC will imminently announce they are about to investigate.

What in hell are you doing on this board if you are that ignorant.?

BTW, Elgindy was facing 25 to life, he got 11 plus. Wonder who he gave up? Look in Europe two years hence.

Jesus man, stay quiet and make people wonder how fucking stupid you really are.

On your other topic, saying naked shorting isn't responsilbe for OSTK decline. The NAASA held a forum, look it up, you'll learn something, where Ralph Lambiase, Ct.'s head of Security Investigation, asked the SEC panel pointedly how OSTK could possilbly be on the SHO list FOR EVERYSINGLE DAY THE SHO LIST EXISTED. Yeah, you're probably right. Just a coincidence. :eek:

 

[sprstpd]

Quote from flytiger:

Excuse me? Do you get a paper? Did you see the SEC's power is usurped? How do you think that happened? Did you happen to see Cox pass anti fraud provisions vis a vis naked shorting? How do you think this all happens? Do you not think Patrick has been there over and over with his team? And he wasn't there for OSTK.

Once again, a post that seemingly is substantive but really is just conjecture. As long as you can "just see what happens," I guess you might be right eventually.