Tag: Matthews

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Article: Far From Texas, Huge Gas Bills Stoke Anger After February Freeze

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Far From Texas, Huge Gas Bills Stoke Anger After February Freeze

Christopher M. Matthews , 27 June 2021

An angry backlash is building across the middle of the U.S. as states step in to help their constituents pay billions of dollars in natural-gas bills racked up during February’s freeze.

While most escaped the blackouts that occurred in Texas, states from Minnesota to Kansas are having to help local utilities, businesses and homeowners cover February bills after natural-gas prices surged from around $2 per million British thermal units to as much as $1,200 in parts of the country. Continue reading “Article: Far From Texas, Huge Gas Bills Stoke Anger After February Freeze”

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Article: SD cattle producer asks U.S. senators for ‘level playing field’ in testimony

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SD cattle producer asks U.S. senators for ‘level playing field’ in testimony

Carter Woodiel, 24 June 2021

STURGIS, S.D. (KBHB) – The Senate Ag Committee held a hearing Wednesday to discuss the issue of cattle market manipulation and anti-competitive practices by the meat packers.

South Dakota Senator John Thune was among those chairing the meeting and hearing input from witnesses – including Justin Tupper – cattle producer and manager of St Onge Livestock Auction.

Tupper testified there is a crisis in rural America. Continue reading “Article: SD cattle producer asks U.S. senators for ‘level playing field’ in testimony”

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Article: Stunning Confessions of a Short Seller

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Stunning Confessions of a Short Seller
Michelle Celarier, 22 June 2021

Anonymous short activist Rota Fortunae profited from put options on Farmland Partners — and now admits the relevant report he authored was riddled with errors.

The proliferation of short activist research in recent years has raised red flags about some of the originality, accuracy, and depth of these works — especially when combined with put options that are timed to coincide with the publication of reports that might send the stocks into a tailspin.

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Article: SEC plans to go after market manipulation on social media, executive insider trading, Gensler says

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SEC plans to go after market manipulation on social media, executive insider trading, Gensler says

Chris Matthews, 07 June 2021

Securities and Exchange Commission Chairman Gary Gensler said Monday that his agency is focused on adopting new rules to guard against company executives using private information to opportunistically sell shares of companies they oversee, while acknowledging that the SEC must come up with new strategies to guard against market manipulation on social media.

The SEC adopted regulations about 20 years ago, called 10b5-1 plans, that enable company insiders to buy and sell securities in their own company if those transactions are made by a third party who is not aware of material, non-public information.

“In my view, these plans have led to real cracks in our insider trading regime,” Gensler said at the Wall Street Journal’s CFO Network Summit Monday.

One concern Gensler has is that there is no “cooling off period” mandated by the SEC for when a 10b5-1 plan is adopted and when it can start trading, though research shows that 40% of such plans begin trading within just two months after they are opened, while 14% start trading within a month.

Futhermore, there is no limitation as to how many 10b5-1 plans insiders can open, making it easier for an insider to shut down one or many plans if he has public information that suggests that it would be profitable to do so.

“Insiders can cancel a plan when they do have material non-public information. This seems upside-down to me. It also may undermine investor confidence,” Gensler said. “In my view, canceling a plan may be as economically significant as carrying out an actual transaction,” he added. “Thus, I’ve asked staff to consider limitations on when and how plans can be canceled.”

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Article: Here’s what to expect at the congressional hearings on GameStop and Robinhood

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Here’s what to expect at the congressional hearings on GameStop and Robinhood

Scum sucking sack of shit lawmakers will seek to make headlines, not legislation — and all the witnesses are probably RICO eligible!

Chris Matthews, MarketWatch, 16 February 2021

Executives at Robinhood, market maker Citadel Securities, hedge fund Melvin Capital, social media firm Reddit, and Keith Gill, an independent investor who found fame and riches with his early purchases of GameStop Inc. GME, -5.52% shares, will all testify at the hearing, scheduled for noon on Thursday. Here’s what to expect:

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Paper: The Deep Capture Story by Mark Mitchell

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The Story of Deep Capture

By Mark Mitchell, with reporting by the Deep Capture Team

The Columbia School of Journalism is our nation’s finest. They grant the Pulitzer Prize, and their journal, The Columbia Journalism Review, is the profession’s gold standard. CJR reporters are high priests of a decaying temple, tending a flame in a land going dark. In 2006 a CJR editor (a seasoned journalist formerly with Time magazine in Asia, The Wall Street Journal Europe, and The Far Eastern Economic Review) called me to discuss suspicions he was forming about the US financial media. I gave him leads but warned, “Chasing this will take you down a rabbit hole with no bottom.” For months he pursued his story against pressure and threats he once described as, “something out of a Hollywood B movie, but unlike the movies, the evil corporations fighting the journalist are not thugs burying toxic waste, they are Wall Street and the financial media itself.” His exposé reveals a circle of corruption enclosing venerable Wall Street banks, shady offshore financiers, and suspiciously compliant reporters at The Wall Street Journal, Fortune, CNBC, and The New York Times. If you ever wonder how reporters react when a journalist investigates them (answer: like white-collar crooks they dodge interviews, lie, and hide behind lawyers), or if financial corruption interests you, then this is for you. It makes Grisham read like a book of bedtime stories, and exposes a scandal that may make Enron look like an afternoon tea.

Introduction By Patrick M. Byrne, Deep Capture Reporter

PDF (69 Pages): Deep Capture Story

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