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Video proof that Matt Taibbi is a naked short selling dupe

by William K. Wolfrum 10/7/2009 - 9:45 am   |

Continuing with my theme of bad journalism, I have a video that was given to me last week that will allow people to see how Rolling Stone reporter Matt Taibbi is a naked short selling dupe.

This video is only 5:35 long (scroll on down to view it), and what it shows is Taibbi trying to understand the topic of naked short selling while also working on numerous other subjects. I’ve had to edit out the location — I’ll call it PLACE X for short. What I can say is that Taibbi again showcases his incredible skills, but also shows that he’s keeping far too many balls in the air at one time to truly understand complex economic issues and can easily be led astray by hyper-biased sources. The fact that Taibbi can be manipulated is something that should be a concern to everyone.

In the video, which believe me doesn’t look all that sexy, Taibbi is using specific illegal techniques of handling multiple subjects, while not really understanding any of them. This technique was taught to him by, oh, let’s say, Goldman Sachs.

Here is the video with explanations below:

:34 As you can see, Taibbi is holding two items in his hand, with two in the air. Yet he is giving attention to the two that he is not holding.

:37 Here, Taibbi is spinning a basketball, a common practice of journalists who are trying to dazzle the reader withe fanciful acts rather than facts.

1:26 Here Taibbi is shown at an undisclosed location (but let’s call it Bank of America, anyway) practicing along with other journalists. To the bottom right of the video you can clearly see what looks like a pizza box. This is yet more proof that Taibbi is a dupe.

3:14 Here you can clearly see that Taibbi has six balls in the air. This is again proof that that he can be easily duped as his attention is always elsewhere.

3:51 Finally, here you see Taibbi lifting weights. Behind him is a wall rug with elephants on it, proof that Taibbi has been working with the GOP all along, and is thus extremely dupable.

This doesn’t sound all that dramatic and as video sequences go, and it sure isn’t the Paris Hilton sex tape. But this is an example of how an otherwise popular and intelligent reporter can keep so many balls in the air at one time, that his inner biases are easily manipulated by nefarious outside sources.

Why does this matter? It just does, trust me.

–WKW

Update #1: The sound wasn’t working on my PC, but sources tell me Taibbi is discussing Bear Stearns throughout the video.

Update #2: A bunch of idiots have commented that the video actually shows juggler Chris Taibbi, not Matt Taibbi, and that the video doesn’t show him being duped a at all Well bully for these morons. Because I never said the video was of Matt Taibbi or that the video was proof that Matt Taibbi is a naked short selling dupe. Great reporting, idiots. Suck it. My point still stand. Anyone who thinks otherwise is being paid of by, oh, let’s say the SEC.

My sources tell me that Chris' middle name is Matt, and that he often uses assumed names. One of these assumed names is, coincidently enough, William K. Wolfrum. That's what my sources tell me.

by Nebton 10/7/2009 - 10:23 am

Holy crap, and I thought I was talented with my balls...

by Larry Jankens 10/7/2009 - 11:42 am

 

Here is another article related to the Rolling Stone Article by Matt.

 

Rolling Stone Interviews Cast Member of Financial Film "Stock Shock-The Short Selling of the American Dream" 

 

Former DTCC operations manager and star of "Stock Shock" Susanne Trimbath is interviewed by Matt Taibbi for his latest article in Rolling Stone. She blows the whistle on the world's largest central depository by revealing that she warned them 15 years ago of an impending financial crisis. 

 

 

New York, NY -- Rolling Stone's own Matt Taibbi interviewed industry expert Susanne Trimbath, Chief Economist at STP Advisory Services, LLC in Omaha, for his latest article in the magazine article about financial corruption. The piece spotlights naked short selling and fall of Bear Stearns and Lehman Brothers.

 

In his new article, Trimbath tells Taibbi the story of how, in 1993, she tried to get senior management at the world's largest central depository (Depository Trust Company) to stop allowing shares of stock in US companies to be multiplied through stock lending and excessive short selling. "You can't balance the world," was the response she got from regulators. She contends this is because "Wall Street is self-regulated and they don't want to write regulations against themselves." By 2003, the size of the problem had increased ten-fold; by 2008 it contributed to the collapse of major financial institutions and the global financial crisis. 

 

Trimbath is also featured in the financial film, "Stock Shock: The Short Selling of the American Dream" which documents the alleged massive short selling of Sirius XM radio stock. Sirius XM stock sank to five cents per share earlier this year. In the film, she explains in great detail the process of naked short selling and the impact failed trades have on shareholders and the American economy.

 

Susanne Trimbath holds the Ph.D. degree in economics from New York University. She is an expert on post-trade securities operations and is featured in several films about Wall Street. She frequently acts as an expert witness in securities litigation. Trimbath is a former mid-level operations manager at Depository Trust Company (now a subsidiary of Depository Trust and Clearing Corporation in New York). She currently heads STP Advisory Services.

 

"Stock Shock" was recently released on DVD and has received good reviews. The movie trailer can be seen at www.stockshockmovie.com.

 

by Jd (not verified) 10/7/2009 - 2:01 pm

I often wonder how Susanne Trimbath makes a living.

by William K. Wolfrum 10/7/2009 - 2:41 pm (re: Jd)

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