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Sleazey McSleaze Is Sleazy, Psychic

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Recap, for the two of you* out there who care about the made-for-TV movie-of-the-week: AntiSocialMedia.Net was the website hosting what the Post described as "bitter attacks … on the message board critics, accusing them of participating to various degrees in a conspiracy to malign the anti-naked short selling movement that supports," and ASM was doing this because, ding, ding, ding, it was being anonymously run by’s director of social media Judd Bagley. Gary Weiss sunk his teeth into this story some time ago and has been going at it like a rabid dog who may or may not have rabies ever since (and that's not necessarily a bad thing). Anywho, the latest news is that under the pseudonym of De Daumier-Smith, Judd Bagley has been up to his usual bag of tricks. must be worth over a hundred bucks a share! That's because -- according to an officer of the the company -- its lawsuit against Wall Street firms is definitely going to succeed, and all that needs to be done now is tote up the damages.
This suit is for $3.5 billion, so that is one heck of an optimistic forward-looking statement, wouldn't you say?
The source of this very valuable market-sensitive insight is none other than Overstock's stalker-in-residence, "director of social media" Judd Bagley, in a post on the Investor Village message board over the weekend.
You know, I think it is really terrific that an officer of a public company, unencumbered by legal restraints, comes on a limited circulation message board to predict -- indeed, declare! -- the outcome of a lawsuit just filed by his company.
Of course, if there was some kind of regulation about "fair disclosure" or rules about "materially misleading statements" I guess there might be a problem. A serious one.

*Actually that's unfair of us-- the ten of you.
Bulletin: Overstock Lawsuit Successful! [gary-weiss .com]


David Viniar's Work Here Is Done

Back in 2009, Goldman Sachs Chief Financial Officer David Viniar, whose face may not be as recognizable to you as that of Lloyd's but whose voice you've likely found just as if not more soothing each time you hear it during the firm's earnings calls, decided he was ready to move on after a three-plus decade long career with The Firm. Normally, that would have been just fine; people would have wished Viniar all the best as he happily waved good-bye to all his colleagues and friends from the gondola lift made of fluffy clouds and money that transports all Goldman Sachs executives to retirement. Unfortunately for DV, however, it was around the time that he started to think about leaving that Goldman hit some unfortunate rough patches that included "a civil fraud suit by the Securities and Exchange Commission over marketing of mortgage-related securities, a federal criminal probe on the same matter, and a civil suit brought by a hedge fund that bought a Goldman CDO." And while other higher-ups-- no names: Jon Winkelried-- would have thought nothing of abandoning Lloyd in his time of need or what kind of message it would have sent that a top official was calling it quits, David "Bones" Viniar is  a little more loyal than that. Lot more loyal in fact ("He's so loyal he's only going to do anything when the timing is appropriate," one person said at the time, adding that "David will do whatever the firm asks of him") and so he stayed. Stayed by Lloyd's side during his darkest hour. Stayed when the Goldman needed him most. And although some might have hoped he'd forget about wanting to leave; that he could be tricked into staying "just one more year" and another and another and another after that; that that good-bye he put on hold would stay on hold forever; that, if all else failed, Gary Cohn could put him in a sleeper hold with his legs...that good-bye has come. Goldman Sachs today announced that Harvey M. Schwartz, the global co-head of the Securities Division, will become Chief Financial Officer at the end of January 2013. After a distinguished 32 year career at the firm, including 12 years as the Chief Financial Officer, David Viniar has decided to retire and will join the Board of Directors as a non-independent director at that time. The firm expects to appoint additional independent directors to its board in the near term. David Viniar retiring as Goldman CFO [FT Alphaville] Related: David Viniar Stands By His Man