Size 12 Clay Feet

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The Commission's Complaint, filed on April 14, 2003, alleged that beginning on March 6, 2000, Armstrong touted the stock of BluePoint Linux Software Corporation ("BluePoint") by posting unsubstantiated, favorable buy recommendations on the Raging Bull internet site. Armstrong posted over eighty such recommendations during the first three weeks that the stock of BluePoint was publicly traded. According to the Complaint, Armstrong praised BluePoint's investment value and encouraged investors who were experiencing trouble having their orders filled to keep trying. The Complaint further alleged that the promoters of BluePoint were secretly transferring stock in three other companies to Armstrong at prices below the then current market for those three stocks and that Armstrong made at least $20,000 by selling the shares he received from the promoters of BluePoint. The Complaint alleges that Armstrong did not disclose in his internet postings that he was being compensated for making the postings.

United States Securities and Exchange Commission, Litigation Release No. 20228 / August 7, 2007, SEC v. Sierra Brokerage Services, Inc., et al

Said 'et al' being one Jerome Armstrong in this case. That would be the pal of Markos Moulitsas Zuniga of Daily Kos fame. Co-author of Kos' book. You know, that Armstrong. Crashing the gate or scamming the masses? You decide. The SEC already has. And has a fair chunk of Armstrong's money to back them up.

(You should also recall that this was the incident where Kos circulated a demand that other lefty blogs deprive the story of coverage. They obediently complied. Funny how the left likes to charge that the right are doing that sort of thing but ignore confessions of that on their side of the aisle.)

Others having a bit of fun with this story: Riehl World View, Redstate, The Jawa Report, Hot Air, Urban Grounds,

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6 Responses to Size 12 Clay Feet

  1. Pingback: Pajamas Media

  2. Pingback: BizzyBlog » Jerome Who? ‘Crashing the Gates’ Co-Author Getting an Old Media Pass

  3. Ed says:

    Even though I’m a liberal, I say good, criminal behavior should be prosecuted no matter how connected the defendent.

    Maybe Bush will issue a pardon, though I’m not in favor of one, since isn’t this similar to the insider stock charges he got away with at Harken Energy?

  4. Ed says:

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    Size 14 Clay Feet? Can I assume you feel the same way about going after criminals when they are Republicans?: "Former Clark County GOP Chair and newly elected Young Republican National Federation Chair Glenn Murphy is under investigation for criminal deviate conduct, a Class B felony, for allegedly engaging in oral sex with a sleeping victim. This is not his first run-in with the law for this kind of offense." Here's the police report. Warning. Not work appropriate!

    (Edit: Please do not place links to NSFW stuff without my permission.)

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  6. Ed – no, it’s not like Harken. And notice, no right-leaning blogs are insisting that the Glenn Murphy story not be covered, which is what BCB’s post is uh, about.

    The left has apparently intuited what censorship is in the hearts of conservatives on the basis of introspection.

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