Hmmmm Crammer wants James Bond to look into short selling similar to 911. That would be sort of like somebody walking into an analysts office and asking the question on 911, "if you were looking for pre-knowledge of this attack where would you look?" and that person without batting an eye answering the CBOE and the puts on the airlines involved.
No thats no insinuating that FBI, Minneapolis agent Coleen Rowley shorted UAL. It was just the natural answer to the question.
But Crammer seems to equate 911 and the markets crashing, and in one respect I agree with him. It is a narrative that must be accepted at the cost. I mean imagine for example if James Bond did answer his boss truthfully and then proceeded to post on FreeRepublic that there was a chance that short-sellers had made a killing on 911, and that the CBOE data seemed to support that assertion, and that the feedback initially was supportive, and then a VERY COLD WIND BLEW. Where the idea to prevent someone from profiting off of the carcase of the 911 events, was initially a good idea, and then woooofffff.. a cold wind blew and that was a horrible idea, as the narative was that 'nobody could have possibly have known' as some arabs snuck up on the United States and pulled it off, and nobody knew.. you see?? nobody knew.. so you know.. nobody could have known, and them puts were just left unclaimed by... uhhhh "patriots" that's what Crammer called them.
No James Bond didn't go very far on that adventure, but was on the right track. But lets look back a bit at the earlier days of James Bond when he was email@example.com and he was flapping after Crammer when Crammer was touting EGGS. I'm sure Crammer remembers that.
Cramer said, "A lot of times when I was short, I would create a level of activity beforehand that would drive the futures." He also encouraged hedge funds to engage in this type of activity because it is "a very quick way to make money." Cramer claimed that everything he did was legal, but that illegal activity is common in the hedge fund industry. He also stated that some hedge fund managers spread false rumors to drive a stock down: " ...it's important to create a new truth, to develop a fiction." Cramer said one strategy to keep a stock price down is to spread negative rumors to reporters he described as "the Pisanis of the world". "You have to use these guys," said Cramer. He also discussed getting "the bozo reporter from The Wall Street Journal" to publish a negative article. Cramer said this practice, although illegal, is easy to do "because the SEC doesn't understand it."
Yeah I would love to see that footage again on EGGS when the SQUAK-BOX crowd cornered you Jim, or when James Bond a.k.a. deflationelation suggested Maria Bartiromo had a comfy gig reporting from the floor and that her antics were above SEC scrutiny~~ Yeah James Bond gets around.
But lets talk of the "fraudulent touting of securities" for a moment.
Section 17b, Securities Act of 1933
"It shall be unlawful for any person, by the use of any means or instruments of transportation or communication in interstate commerce or by the use of the mails, to publish, give publicity to, or circulate any notice, circular, advertisement, newspaper, article, letter, investment service, or communication which, though not purporting to offer a security for sale, describes such security for a consideration received or to be received, directly or indirectly, from an issuer, underwriter, or dealer, without fully disclosing the receipt, whether past or prospective, of such consideration and the amount thereof." (15 U.S.C. § 77q(b).)
And lets stop and look at who I have blamed for this mess in the securities, it is the media!
I mean honestly there is Crammer dancing around on TV babbling about 911 and short selling with some woman who just wants to follow the damn narrative of shilling for her employer, shilling for the sponsor, shilling for the ad dollar.. and there is Crammer imagining that short selling is the issue.
Because James Bond knows as much as firstname.lastname@example.org Dee Illuminati can report that what Crammer seems to try and differentiate is actually the same.
Sure you have to bail out these markets, but I hope that there is a whole hell of a lot more spin and class in the selling of this event than other narratives.
It isn't actually as if some people didn't know the CDO's were toilet loaf, or that Maria had a plush spot on TV every morning though the SEC couldn't see it on TV, or that Crammer and Co. were a bit more savy with the internet than the SEC pre-tulipmania...
Nope James Bond sees that shit.. sees right through it.
truth be told Crammer a cold wind blew on james bond.. becuase nobody could have possibly have known.
But watch out.. a good provocation could bring him off the reservation