Monday, March 09, 2009

Criminals Of Wall Street

When a guy who calls himself The Easter Bunny walks into a CEO's office and told him his company was being targeted by a financial media cartel in bed with the Russian and Italian mob, who are part of the biggest fraud in the history of the country, the CEO initially dismisses him as a crackpot conspiracy theorist.

But then the Easter Bunny makes predictions--his company would begin to be traded on foreign exchanges without his permission, easier for short-selling of phantom (non-existent) stock. Smears would be published by the financial community, lowering the value of his stock. The SEC would begin a bogus investigation into his firm and a crooked lawyer would bribe witnesses to file a class-action lawsuit which would further depress his stocks. All of this so a small cabal of hedge-fund managers could profit by short-selling, or betting that his stocks would fall, as they surely would given this full-court press, led by the press of the financial community.

The CEO later admitted that no matter how crazy a theory is, when they make predictions that come true, they tend to have some credibility.

And come true they did. Read the whole sordid story here.

Two things become abundantly clear; this is precisely why us political bloggers, both on the right and left, continually rail against the corporate media--and I will never look at Jim Cramer of CNBC--or indeed that entire network--the same.

h/t dday at Hullabaloo

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