Wednesday, August 8, 2007
Tout le Gauche: Markos Moulitsas' co-author and MyDD blogger Jerome Armstrong--recently quoted assessing the state of the left blogosphere in Salon--has agreed to pay $30,000 to the S.E.C. to settle stock-touting allegations, according to TimesSelect prisoner Chris Suellentrop. That seems like quite a bit to me, though I'm no S.E.C. expert. It apparently includes a $20,000 fine. From the S.E.C.'s news release, with emphasis added:
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.
That's just the complaint, of course. Still ... what's he touting now? ... P.S.: Red State eagerly awaits the long-promised Armstrong "offensive." ... He could start by issuing either a confirmation or denial of the truth of the SEC's charge. The settlement itself is neither. But if Armstrong doesn't owe the SEC an admit-or-deny answer, doesn't he owe it to everyone else--his allies, his readers, his colleagues? Is it true, Jerome? ... 1:23 P.M.
Today's Google Alert Special: Mark Kleiman say he's "on a listserv embracing a bunch of real journalists and a bunch of bloggers, academics, activists, and think-tankers, representing a pretty good spread of Blue opinion." Sounds like the KleinKlub! Kleiman then discusses two threads on the listserv. One "is about the extent to which the Information Age dictates basic changes in social policy." In the other, on No Child Left Behind, critics and supporters debate whether its "tests measure to narrow a spectrum of capacities, measure them too infrequently, measure them badly, measure them in ways that aren't robust to 'teaching the test,' and lead to a soul-deadening rote-learning atmosphere ..." Wouldn't it be better if these debates were conducted in public, where readers could at least listen in? [They sound incredibly tedious--ed Hmm. Good point. Though they're interesting when Kleiman puts them together. But that's on his public blog. ... Never mind.] 2:12 A.M.
Is the WSJ ed page's Cult of Bartley doomed by Rupert Murdoch's acquisition of the paper? I'd say yes, despite the firewall erected by cult members. Murdoch will want his own people, and more ideologically flexible people, in charge. If Paul Gigot is still running the place in 18 months I'll give him $100. ... 1:38 A.M.