Many of you know my "love affair" with DeepCapture and what they have uncovered amongst the chicanery in our financial system. Today, those wonderful anonymous genius's over at ZeroHedge.com, arguably the best place on earth to find daily examples of government and Wall Street run amok have had their say on DeepCapture and I respectfully reprint it here without their permission. It's too good not to share with you if you haven't yet found the "light" and zeroed in on ZeroHedge.
These two sites are without question, the best out there. Enjoy.
For those of you out of the loop, www.deepcapture.com, winner of the 2008 weblogs award for best business blog, has at long last made headway in its relentless and noble crusade against naked short seller abusers.
The blog sums up its recent accomplishments as follows:
The SEC recently enacted permanent restrictions on illegal naked short selling, which include greatly enhanced disclosure of delivery failures and shorting activity.
Today, the SEC brought its first enforcement cases against illegal naked short selling.
Also today, FINRA expelled a member firm for engaging in illegal short selling.
Unfortunately, as the blog explains, the battle against corruption, manipulation and fraud in the financial markets is far from over:
Yes, the pendulum is now unambiguously swinging in our direction, but the job is not done. Indeed, we can only be assured of progress to the extent that we each recognize our responsibility to continue pushing.
The story of DeepCapture.com is quite unlike any other business blog (at least that I know of). After publishing remarkable, stunning and factually-supported investigative research covering the inner-workings and dealings of a vast network of political and financial 'miscreants,' the blog and its (non-anonymous) authors have been the target of journalistic attacks, unwarranted legal action, public mockery and even physical violence and threats.
The blog implicates Michael Milken, Eliot Spitzer, Jim Cramer, Steven Cohen, Gary Weiss, James Chanos and literally hundreds of others in wide-ranging efforts to manipulate everything from stocks to public perception (notably through the tampering of Wikipedia pages). Virtually every allegation is backed by well-sourced facts and findings, and when clearcut evidence is lacking, correlationary and circumstantial evidence is provided extensively.
Recently, the blog has unleashed a 15-part case study of heavily shorted firm Dendreon Corp, known for its prostrate cancer treatment drug Provenge, which details the immense financial struggle this David has had to overcome in the midst of the most ruthless hedge fund Goliaths. Indeed, the blog alleges that this very struggle has indirectly caused the hastening of over 60,000 deaths of men with prostrate cancer.
Further, Zero Hedge readers may be interested in gleaning the full extent to which media outlets such as cnbc as well as institutions such as the FDA have been infiltrated by sleazeballs allied with manipulative and fraudulent hedge funds. Hence the phrase 'Deep Capture,' which has come to define those in the media / political / legislative realms who have become 'captured' by dangerous financial forces and have actively worked to blur the lines between reality and fiction.
Perhaps the most frightening of the blog's contentions is that the mafia has come to play quite a significant role in the financial dealings of hedge funds. To prove this case, perpetrators of various well-documented cases of mafia violence are systematically linked to hedge fund operators and/or cronies.
But don't take my word for it --- check out the blog yourself right now: www.deepcapture.com.
Unless, of course, you'd rather just opt for the blue pill.
Side Note: One of the two founders of DeepCapture, Patrick Byrne, has quite an alluring biography as well as mental faculties, as told by this CNN Fortune article 'The Renaissance Man of E-Commerce.'
"He earned a Ph.D. in philosophy from Stanford and black belts in hapkido and tae kwon do. He has bicycled across the U.S. three times, studied moral philosophy at Cambridge as a Marshall fellow, and briefly pursued a career in boxing. Byrne also speaks Mandarin--not to mention four other foreign languages--and translated Lao Tse's Way of Virtue during his senior year at Dartmouth. He has a nearly photographic memory, which he is fond of demonstrating with what he calls his memory trick: If he studies a deck of cards for a couple of minutes, he can recite them back, one by one, in either direction. He can even recite the same list again six months later."
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