A New Party Heard From: Clyde Eltzroth, Bloomberg (UPDATED)
Originally posted on 4/12/2011 by Patrick Byrne
The sounds of squealing could be heard over the low hum of the air recirculation machinery in the drab, windowless federal interview room. “Please!” Sam Antar wimpered. “Let me write one more smear. Let me feel like I’m a player, one last time!”
The federal agent spoke sharply: “Silence!” She turned to look at her colleagues with bemusement. “Jesus, what is it with these finance gerbils? I haven’t seen someone break this pitifully since that bookkeeper in Reno. ” She set aside her Nutcracker Flail, took a long pull on her Gaulioses, and said, “OK, let’s give Sam the night off. We’ll get him cleaned up for the judge in the morning.”
With that, Sam Antar, still restrained in straightjacket, was hauled back to the Shower Room, where he spent the night toe-writing in excrement on the linoleum.
Which would be altogether unremarkable, were it not for the fact that within hours, a Bloomberg reporter named Clyde Eltzrothis called, asking me to comment on it.
No kidding, after everything that has happened, there is still someone, somewhere, who does not get the joke. By all appearances Clyde is new to the game, may not know the back-story, and therefore deserves the benefit of the doubt (that is to say, I am not going to read too much into Clyde’s calling me within hours of the appearance of Sam’s latest). Some gentle coaching is in order.
Fortunately, gentle coaching is my strong suit. So, Clyde Eltzroth, here are those comments you requested:
1) It is not our job to host DA’s on a no-limits fishing trip, especially when they have not acted in good faith in the past.
2) I do not believe that Mr. Antar is a ‘reformed’ white collar felon. His co-worker, Barry Minkow, just pled guilty to felonies associated with the very type of conduct in which felon Antar continues to engage.
• Today’s “If Only There Were a Pattern” Moment: Sam Antar Crony Barry Minkow Still a Crook. Who Knew?
• The Honorable Gill Freeman Throws Book at Barry Minkow, Nicks Paymaster Sam Antar. Plus, A Question for Whitney Tilson, Minkow Paymaster #2
• Memo to Barry Minkow and Sam Antar: Roll Early, Roll Often
• Rut Roh. The “Stock Manipulator” Meme Finally Escapes the Box. Somebody Call Somebody.
3) The outrage expressed by Sam Antar and Gary Weiss is selective, disingenuous, and hypocritical.
To fully appreciate Sam Antar and his methods, Clyde, you should read “Why Are Fortune Magazine and the New York Financial Media Suddenly Pimping Sam Antar the Crook? Note that besides angering a sitting state Attorney General enough to write a letter excoriating Sam Antar and warning that, “In light of Mr. Antar’s background as a convicted white collar criminal, we believe that the public should carefully scrutinize and objectively examine any public statements Mr. Antar makes,” in 2007 Sam Antar famously posted the names, ages, and addresses of 6 and 9 year old girls on an Internet message board.
Gary Weiss has performed legendary sock-puppetting around the Internet. It became the subject of the greatest Wikipedia scandal in its history, as was ably reported in The Register:
• Wikipedia black helicopters circle Utah’s Traverse Mountain
• Emails show journalist rigged Wikipedia’s naked shorts
• Wikipedia kills Greatest Show On Earth
4) Judd Bagley is the good guy. He is a journalist who helped map out how a network of dirty hedge fund operators and their coterie of shill journalists (including Barry Minkow and Sam Antar) work together to manipulate stocks (as Barry Minkow has just pled guilty to). Judd mapped that network. You can read about it here: The stories behind the Rocker and Gradient lawsuit story
Note that Barry Ritholt made the same accusations against Judd that Sam Antar is now making. Unfortunately for Ritholt, he went on CNN Radio, at which point CNN surprised Barry by bringing Judd on air, giving Barry a chance to make his allegations against Judd, live. Barry, who moments before was full of righteous bluster, folded like a cheap chair. Really, you should listen to it, as Ritholtz went from accusation-overdrive to reverse-and-back-away in some sort of record for cravenness. Podcast: Barry Ritholtz and a tale of two media
Now, Clyde Eltzroth, I have a request for you. You asked me for response to Sam Antar’s latest, and response I have provided. I believe that journalistic ethics require that, when you write about this, you need mention where my response was made: DeepCapture.com.
Good luck with that.
UPDATE:
It turns out that Clyde published his story on Bloomberg precisely 10 minutes after contacting someone at Overstock to let us know he was writing this story.
How’s that for service?
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By Clyde Eltzroth
April 12 (Bloomberg) — Overstock.com fell after White Collar Fraud blog questioned whether OSTK is obstructing allegations of consumer fraud in California.
Blog author Sam Antar says he’s a convicted felon, former CPA, former CFO of Crazy Eddie’s; Antar said he doesn’t own any OSTK securities long or short
OSTK had no immediate response
OSTK short interest 6.7% of float: Data Explorers
OSTK down 16% YTD
Link: http://whitecollarfraud.blogspot.com/
Link to Company News:{OSTK US <Equity> CN <GO>}
For Related News and Information:
Top Stories:{TOP<GO>}
To contact the editor responsible for this story:
Clyde Eltzroth at +1-212-617-1879 or
[email protected]
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