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Web: Criminal Syndicalism a Class A Federal Felony, Viewed at Insurrection and Sedition (that’s Treason for the Non-Law Types)

Web

Criminal Syndicalism a Class A Federal Felony, Viewed at Insurrection and Sedition (that’s Treason for the Non-Law Types)

Bud Burrell

Sanity Check via Wayback, January 18 2006

I was prompted to search Federal Criminal Code for references to how manipulative criminal syndicates were viewed under the Law of the United States. This search led me to two pages in Eustace Mullins’ controversial book, “The World Order”, published in 1985. On page 214, I found that according to his research, prior case law going back to the mid-1800’s viewed “combinations of capitalist and financiers for the purpose of manipulating from a large capital foundation/source to be directly chargeable as “Insurrection and Sedition”. That’s Treason for you non-lawyers out there.

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Web: Rod Young, Eagletech CEO’s Open Letter on the Shorting Scandal, a Classic

Web

Rod Young, Eagletech CEO’s Open Letter on the Shorting Scandal, a Classic

Bud Burrell, Rod Young

Sanity Check via Wayback, 17 January 2006

Today, more than one month later, the records have not been forthcoming as ordered by the court. Instead, as First Deputy General Counsel for the DTCC, I believe you have undertaken a campaign to disseminate misinformation, lies, and half-truths when confronted with facts made public by your detractors.On March 5, 2005 one day after the announcement of the aforementioned court ruling, your interview @dtcc.com, entitled “Naked Short Selling and the Stock Borrow Program”, stated: “One of these companies has been cited for failing to file financial statements since 2001.” Congratulations! You did get one right. On February 15, 2005, the Securities and Exchange Commission deemed it necessary for the protection of investors to institute proceedings pursuant to Section 12(j) of the Securities Exchange Act of 1934 In the Matter of Eagletech Communications, Inc., Respondent.

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Web: Right Makes Might, Courtesy of Abraham Lincoln, February 27, 1860

Web

Right Makes Might, Courtesy of Abraham Lincoln, February 27, 1860

Bud Burrell

Sanity Check via Wayback, 16 January 2006

I offered a former SEC Regulatory Counsel access to my files (certainly the most comprehensive of any expert in this matter). When I told him the sheer size of the files and suggested he might want me to parse them to him, he said “I’ll call you.” Right. It was obvious he wanted plausible deniability. I expected no call, and got none.

Having said that, this morass is turning into a situation analogous to the stage Slavery was in 1860, when Lincoln made his great speech at Cooper Union in New York City, containing the third element of his statement supporting the concept of “Right makes Might.”

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Web: Federal Regulators Continue to Deny Scope and Implications of Counterfeiting

Web

Federal Regulators Continue to Deny Scope and Implications of Counterfeiting

Bud Burrell

Sanity Check via Wayback, 10 January 2006

Over the past three years, Federal Regulators have continued to systematically deny the evidence of the existence of massive fails to deliver from numerous sources, many of which have gotten credible exposure on numerous levels from highly informed parties that these regulators can not dismiss out of hand. The implications are many, but the most serious are those connected to a massive counterfeiting conspiracy, conducted by a very sophisticated coterie of parties who have been affiliated with one another for literally decades through varying sides of the securities industry, both buy and sell side.

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Paper: The Concentration of Undelivered Shares Among Threshold Securities: Prospects of Stock Manipulation Using Naked Short Sales

Paper

The Concentration of Undelivered Shares Among Threshold Securities:
Prospects of Stock Manipulation Using Naked Short Sales

Robert J.  Shapiro

Sonecon, 14 November 2005

American public companies and their shareholders face a significant threat. Last year, researchers determined that naked short sales – short sales in which the shares are credited to buyer, but the short seller fails to borrow and deliver those shares – occur on a large scale, often extending for months at a time. New data now suggest that these “failures to deliver” or “fails” are concentrated in a relative handful of companies. This raises the prospect of naked short sales being used to manipulate some companies’ stock prices. The enormous extent of naked shorting and its likely use in stock manipulation could threaten the integrity of our financial markets and international confidence in them.

PDF (13 pages): The Concentration of Undelivered Shares Among Threshold Securities: Prospects of Stock Manipulation Using Naked Short Sales

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Article: Overstock.com CEO Patrick Byrne is waging an EXTRAORDINARY CAMPAIGN against short-sellers. The hedge fund guys say he has underperformed. He says they are tools of a sinister “SITH LORD.”

Article - Media, Publications

Overstock.com CEO Patrick Byrne is waging an EXTRAORDINARY CAMPAIGN against short-sellers. The hedge fund guys say he has underperformed. He says they are tools of a sinister “SITH LORD.”

BETHANY MCLEAN, 14 November 2005

Even hardened denizens of Wall Street were shocked by a conference call that Patrick Byrne, the CEO of online retailer Overstock.com, held on Aug. 12. “I want to get something off my chest,” Byrne announced. Then he launched into a rant about a “miscreants ball” in which he mentioned hedge funds, journalists, investigators, trial lawyers, the SEC, and even Eliot Spitzer. “I believe there’s been a plan since we were in our teens to destroy our stock, drive it down to $6–$10 … and even a plan for how the company would then get whacked up.” The “designated final owner,” who provided the “orchestration,” was someone Byrne dubbed the “Sith Lord,” a person he refused to identify other than to say that “he’s one of the master criminals from the 1980s.” And that’s just the basic outline. There was more. As Mark Cuban, the billionaire investor, later wrote on his blog, “Never before in the history of Wall Street has a single conference call mentioned the following topics: miscreants, an unnamed Sith Lord he hopes the feds will bury under a prison, gay bathhouses, whether he is gay, does cocaine, both or neither, and an obligatory ‘not that there is anything wrong with that,’ phone taps, phone lines misdirected to Mexico, arrested reporters, payoffs, conspiracies, crooks, egomaniacs, fools, paranoia, which newspapers are shills and for who, payoffs, money laundering, his Irish temper, false identities, threats, intimidation, and private investigators. All in 61 minutes.” Cuban is now short 20,000 shares of Overstock. Continue reading “Article: Overstock.com CEO Patrick Byrne is waging an EXTRAORDINARY CAMPAIGN against short-sellers. The hedge fund guys say he has underperformed. He says they are tools of a sinister “SITH LORD.””

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Article: Overstock’s phantom menace

Article - Media

Overstock’s phantom menace

Bethany McLean

CNN Money, 1 November 2005

Patrick Byrne, the 42-year-old CEO of online retail liquidator Overstock.com, is under growing pressure to deliver numbers that prove his business will make money.

Certainly the third-quarter results, announced on Friday, Oct. 28, did not help his cause. Once again Overstock.com (Research) lost far more than analysts were expecting.

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Article: Overstock’s Three Affidavits

Article - Media, Publications

Overstock’s Three Affidavits

John Reeves, 05 October 2005

The nearly endless fount of mirth surrounding Patrick Byrne’s lawsuit against Gradient Analytics, short-selling hedge fund Rocker Partners, and others is obscuring a case with fairly broad implications for security analysis, First Amendment rights, and the credibility of our public markets.

While fanciful visions of Sith Lords and evil shorting hordes make for good copy, this is a lawsuit that is about something more substantive: an accusation that Gradient and Rocker resorted to unfair business practices to knock down Overstock.com’s (NASDAQ:OSTK) share price. Too much coverage has been spent plumbing the entertainment value, and nearly none on the facts of the suit itself. Continue reading “Article: Overstock’s Three Affidavits”

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Article: Overgrown Hedges

Article - Media

Overgrown Hedges

Christopher Byron

New York Post cited by RGM Communications via Wayback, 26 September 2005

One of the first things any new chairman of the Securities and Exchange Commission does after getting the job is to clear his throat, put on his best “I mean business” scowl, and announce to the world just how tough he intends to be on the miscreants of Wall Street.

Normally, this harmless ritual lets the man taking on Washington’s most thankless job preen a bit in public before getting smacked to the canvas by a system that basically doesn’t want him to be tough at all.

But these are not normal times — and the one thing this country needs more than anything is a government that knows what it is doing and that deserves to be taken seriously by its citizens.

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Article: Congress Sells America Short

Article - Media

Congress Sells America Short

Mark Faulk

FaulkingTruth.com cited by RGM Communications via Wayback, 20 September 2005

In yet another twist in the stock market scandal known as Stockgate, the Faulking Truth has learned that Senator Richard Shelby (R-AL), Chairman of the Senate Banking Committee, has shelved a planned Senate Subcommittee Hearing investigating the issue. Originally scheduled for February of this year, and then postponed several times, the hearing, which has been advocated by Senator Robert Bennett (R-UT), has been cancelled indefinitely.

According to a reliable source inside of the planned investigation, “The authority and the responsibility to take the necessary steps to deal with the issue of naked short selling lies squarely at the feet of Senator Shelby, and he has chosen not to allow the planned Senate Banking Subcommittee hearing to go forward.” In an earlier interview with the same source, we were told that “Senator Shelby tends to grab things like this for his own purposes, and his own purposes don’t always mesh with what’s best for the public.”

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Article: Naked Truth Dressed to Baffle

Article - Media

Naked Truth Dressed to Baffle

Kevin Kelleher

TheStreet, 29 August 2005

It all started when the company completed a 350-to-1 reverse stock split — an unusual step in itself, but one that paled alongside what came next. With 5.43 million shares outstanding and a float of 1.15 million shares, Global Links saw trading volume of 143.5 million shares in the first four sessions of February, driving the stock as low as 8/100ths of a penny.

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Article: Overstock Faces SEC Probe, Details Short-Selling Lawsuit

Article - Media, Publications

Overstock Faces SEC Probe, Details Short-Selling Lawsuit

Carol S. Remond | Dow Jones Newswires, 12 August 2005

Overstock.com President Patrick Byrne said in a conference call Friday that the Securities and Exchange Commission began an informal inquiry into the company in February. Continue reading “Article: Overstock Faces SEC Probe, Details Short-Selling Lawsuit”

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Article: CIBC will pay $125M US fine to settle mutual fund trading investigation

Article - Media, Publications

CIBC will pay $125M US fine to settle mutual fund trading investigation

CBC News, 20 July 2005

CIBC confirmed Wednesday it will pay out $125 million US to settle an investigation into the bank’s role on behalf of hedge funds that engaged in improper mutual fund market timing and late trading. The bank said the deal was reached with the U.S. Securities and Exchange Commission and the New York Attorney General’s Office.

The agreement will see two of the bank’s subsidiaries, CIBC World Markets Corp. and Canadian Imperial Holdings Inc., pay a penalty of $25 million US and disgorgement of $100 million US related to financing and brokerage services provided to the hedge funds.
Continue reading “Article: CIBC will pay $125M US fine to settle mutual fund trading investigation”