General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums'Mad Money' Guy, Jim Cramer, Is Pissed His Dad Can't Vote. Manages To Miss Whole Point Anyway.
Sigh. Some people only care when it affects themselves or someone they know. See the Twitter timeline:Jims cagey response to one followers suggestion:
Jim is so grateful because PennDOT came to his rescue.
The only case of voter suppression he gave a damn about has been solved. He can stop caring now!
Now watch Jim Cramer totally miss the point:
Now watch how he can manage to keep missing the point:
Found on Jim Cramers Twitter account by @marikatogo/MoveOn.org
Kolesar
(31,182 posts)The tweeters explained it well in the images you put up.
I am sure Jim Cramer knows who his "dad" is voting for. Not our guy
zbdent
(35,392 posts)then he'd have to rely on his wits and uncanny accuracy in picking trends in the market ...
Guess who's on his knees with a lustful look in his eyes ...
Politicalboi
(15,189 posts)I got what I want, fuck the rest of ya's.
CJCRANE
(18,184 posts)BumRushDaShow
(128,530 posts)@jimcramer @committeeof70 and @PAVoterID glad your Dad is set
to vote, please help us educate other PA voters w/ a RT?
photoidaskme.com
Committee of Seventy - http://www.seventy.org/COS_HM_Home.aspx
Gabi Hayes
(28,795 posts)read this fascinating, but very long story. you can print it up.
http://webcache.googleusercontent.com/search?q=cache:-GL5fqHTXz0J:www.deepcapture.com/the-story-of-deep-capture-by-mark-mitchell/+cramer+jail+insider+trading&cd=9&hl=en&ct=clnk&gl=us
the bona fides of the main author:
I began working on a version of this story in January 2006, while serving as an editor for the Columbia Journalism Review, a publication tasked with upholding the standards of the American media. In November 2006, a hedge fund that was at the center of the scandal I was investigating offered the Columbia Journalism Review a great deal of money. Shortly before CJR accepted the money, I left my job, so I do not know if my editors, whom I believe to be honest people, would have allowed me to persevere. But I have no doubt that the hedge funds beneficence was aimed at preventing the publication of stories like this one.
snip:
The crimes are the work of Wall Street hedge fund managers and brokers who engage in a common trading strategy known as short-selling. A short sale is a way of making money when the price of a stock goes down. You borrow shares from someone else and immediately sell them off. If the price drops, you buy the shares back and return them to the original owner, pocketing the difference. If a company goes out of business, short-sellers hit the jackpot.
This is perfectly legal and unobjectionable. But some short-sellers do not play by the rules. A small group of powerful hedge fund managers stop at nothing to annihilate the companies they sell short. Their tactics include: blackmail, smear campaigns, espionage, fraud, harassment, extortion, bribery, rumor-mongering, sabotage, off-shore money laundering, political cronyism, frivolous lawsuits, witness tampering, biased financial research, false identities, bogus credit ratings, bribery, libelous blogs, bad science, forgery, wiretapping, counterfeiting, collusion, lying, cheating, threats and theft.
Their most egregious trick is to sell phantom stock. By exploiting a glitch in Wall Streets computerized trading system, and a loophole in federal regulations, some hedge funds sell virtually unlimited amounts of stock that they have not yet borrowed or purchased. This is often referred to as naked short selling. Hedge funds use this tactic to flood the market with supply and drive down prices which is blatantly illegal.
Patrick has written a blog explaining how this works in laymens terms. An economist has written a detailed history of failures to deliver (i.e. stock sold and not delivered, because it is phantom stock) for Regulation magazine, published by the Cato Institute. A former SEC Chairman has spoken extensively against the problem. Many other researchers, several professors, a former SEC economist, and a former deputy secretary of commerce have also written papers on the subject. If you are interested in the mechanics of the crime, read some of those papers here, here, here, here, here, and here.----
{my own additon} the ''here's'' preceding this are all hyperlinks for the details mentioned immediately previous
>>>>>>>>
it's cached, so if you want to scroll down to the Cramer parts, he's highlighted, for easy access. I promise, you'll find this highly entertaining, as well as not-too-abstrusely informative. If I can understand the gist, anyone here can
highly recommended
Hoyt
(54,770 posts)traditionally Democratic voters.
PD Turk
(1,289 posts)As long as HIS baby gets pulled out of the bathwater it was tossed out in, fuck everybody else. God I hate these people