Facebook, bad journalism and short selling hedge funds

Recently, short-selling hedge fund Rocker Partners paid Overstock.com $5-million to settle the lawsuit filed against them in August of 2005. This is a major victory for all public companies targeted by bear raiding hedge funds. But thanks to the unusually skewed reporting surrounding it, chances are you either hadn’t heard about the suit, or were under the impression it was frivolous and certain to fail.

This presentation examines part of the story behind the coverage of the suit, using some innovative methods to explain why what you heard about the suit and its merits likely had little in common with the reality of it.
[flashvideo file="http://www.antisocialmedia.net/media/rocker-story.flv" /]

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  1. anti_fascist_freedom_fighter wrote:

    You soooo pulled your punches at the end of the story… But let me say it for you, because the elephant in the room is that all the journalists have stock market accounts and are trading on insider tips – they are deeply engaged in racketeering – I’d love to see their fine houses and fancy cars and what schools their kids go to… any prosecutor worth a nickel could connect the dots and show how these journalists have enjoyed spectacular “luck” shorting the market. The social networks are just how they co-conspire, and how they plant false stories at the request of the market manipulators – the illegal profits keeps their mouths shut and make the journalists engage in faking their “news” and working hard to conceal the truth… they don’t want to go to JAIL! Although in today’s bandit, mobster society, that seems very unlikely – this is how “successful” people make it in Amerika!

  2. UNF wrote:

    Quite an excellent piece. It left me thinking, “How soon will the ‘RICO’ proceeding be launched to clean out this rat’s nest?”

    I predict the first party to score on that front will kick off a new national lottery. “;0))

    In any case, congratulations and keep up the good work.


    From Wikipedia: http://en.wikipedia.org/wiki/Racketeer_Influenced_and_Corrupt_Organizations_Act

    Under the law, racketeering activity means inter alia :

    * Any act of bribery, counterfeiting, theft, embezzlement, fraud, obstruction of justice or securities fraud;

    Despite its harsh provisions, a RICO-related charge is considered easy to prove in court, as it focuses on patterns of behavior as opposed to criminal acts.

    It also allows for civil suits with triple damages.

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