Corporate Yahoo! Shill disparaging Snowden is an Admitted & Disgraced Fraudster
By Martin Hill
LibertyFight.com
June 25, 2013


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Yahoo! Finance ran a story yesterday titled Edward Snowden to America: 'Catch Me If You Can', by a guy named "Henry Blodget," a writer for Yahoo!'s "Daily Ticker."

In the opinion piece, Blodget launches a feeble attempt to disparage Edward Snowden with a number of personal attacks on Snowden's character, referring to Snowden as a "government-hating fugitive" who's committed "serious crimes" and a person whom "most Americans now want him tossed in jail."

Blodget says that Snowden's "great escape is another finger in the eye of the United States, the country that he once swore to be loyal to," adding "Although some Americans still support Snowden and consider him a patriot, most Americans now want him tossed in jail." He says "Snowden's latest leaks "seem self-serving and motivated not by concern about Americans but by a desire to curry favor with China and a personal dislike of spying of any kind."

Blodget then compares Snowden to "another government-hating fugitive, Julian Assange," and says Snowden will "continue to try to avoid facing the consequences of committing what most people agree were serious crimes."

Blodget concludes the propaganda piece with the claim that "Most mainstream Americans" would consider Snowden "extreme" and "anti-American." That makes it no less than three times that Blodget oddly purports to speak for "Most people", "Most Americans," and "most mainstream Americans."

But who exactly is "Henry Blodget?" Turns out that "Henry Blodget," a Yale graduate, is an admitted fraudster who was charged with securities fraud by the New York Attorney General in 2002 and was permanently banned from the securities industry, as well as being fined $4 million dollars. Wikipedia reports:

"In 2002, then New York State Attorney General Eliot Spitzer, published Merrill Lynch e-mails in which Blodget gave assessments about stocks which allegedly conflicted with what was publicly published.[ 5] In 2003, he was charged with civil securities fraud by the U.S. Securities and Exchange Commission.[6] He agreed to a permanent ban from the securities industry and paid a $2 million fine plus a $2 million disgorgement. [7.]

[By the way, I have tweeted this article to Blodget & will post updates if he has the guts to respond.]

@hblodget Here ya go, Hank! Corporate Yahoo! Shill disparaging Snowden is an Admitted & Disgraced Fraudster http://t.co/KY6WsjdznY

— Martin (@LibertyFight) June 25, 2013

The SECURITIES AND EXCHANGE COMMISSION, in their complaint filed out of the U.S. District Court Southern District of New York stated, in part, "DEFENDANT Henry McKelvey Blodget resides in New York, New York. During the relevant period, Blodget was a First Vice-President and Managing Director and the senior research analyst for the Internet sector at Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch"), a registered broker-dealer with principal offices in New York City."

The document contains an extensive laundry list of violations and frauds, beginning with the "Nature of the Action" which states,

During the relevant period, Blodget issued research reports on one Internet company, GoTo.com, that violated antifraud provisions of the federal securities laws, and issued research reports on six other Internet companies that expressed views inconsistent with privately expressed negative views as discussed below. These reports violated NASD and NYSE rules that require, among other things, that published research reports have a reasonable basis, present a fair picture of the investment risks and benefits, and nt make exaggerated or unwarranted claims."

PBS explains in their Wall Street Email Trail Overview, "Last week Merrill Lynch announced it would pay $100 million in fines and change the way its analysts do business. The announcement was the result of a settlement between New York Attorney General Elliott Spitzer and the Wall Street giant... Much of the evidence in the case came from company e-mails. Below is a chart showing what Merrill's analysts were saying about certain stocks in public, and in private. ..Henry Blodget was a Merrill Lynch analyst."

PBS then presents a chart of Blodget's conflicting public vs private opinion of various stocks, exemplified in an example of a company called "Lifeminders." The public analysis was "We think LFMN presents an attractive investment," yet Blodget's private e-mail said "I can't believe what a POS [piece of shit] that thing is. Shame on me/us for giving them any benefit of doubt."

Other examples are listed where the suggestions to investors are glowing yet Blodget behind closed doors makes statements such as calling recommended stock a "dog," "such a piece of crap!," and "a disaster."

After downgrading "GoTo" company stock which they had previously upgraded, for example, the SEC complaint noted "Blodget's immediate e-mail response was, "beautiful fuk [sic] em."

In one exchange with a junior analyist, Blodget asked his colleague "What is your honest take on the stock? No reason to own it . . . or going a lot lower?" to which the analyst apparently had a tinge of conscience for the real victims, stating in part,

who are we trying to please by doing a 2-2 ? I don't want to be a whore for f-ing mgmnt.... I don't think that's the right thing to do. we are losing people money and I don't like it. [hypothetical retail clients] john and mary smith are losing their retirement because we don't want [GoTo's CFO] to be mad at us.... (I said to him the whole idea that we are independent from banking is a big lie...... and he said "no-you guys are independent you can do what you want - I'm fine with that["]...

The SEC complaint then notes

"Blodget's initiation piece reported that "GoTo has a pay-for-performance model, which should help it gain share in the current environment. . . . we believe that GoTo will be a survivor." On the same day coverage was initiated, an institutional client e-mailed Blodget to ask, "What's so interesting about Goto except banking fees????" Blodget replied, "nothin."

Blodget is is listed on businessinsider.com as the "co-founder, CEO and Editor-In Chief of Business Insider, one of the fastest-growing business and tech news sites in the world." They claim that the "site has 25 million vistors a month." Why would anyone find such a publication credible when it's own CEO Hank Blodget has been "censured and barred from the securities industry?" Is Blodget someone whose analysis Americans should trust? It turns out that after a little investigation into Blodget's past, unlike Snowden, perhaps Blodget is someone whom "most Americans" would really want "tossed in jail." [Hat/Tip to freedom4um.com for breaking this story.]

Below are some tweets of Henry McKelvey Blodget's twitter account. He apparently misses giving financial advice.

Amazing how determined folks are to see world in black and white: Snowden good. US government bad. It's just ridiculous.

— Henry Blodget (@hblodget) June 23, 2013

Snowden didn't "leak" secrets. He infiltrated Booz Allen (he says) with the intent to steal them http://t.co/N16YmbMv9v

— Henry Blodget (@hblodget) June 24, 2013

Honest question´┐Ż do the folks howling about an $800mm valuation for Snapchat understand what "preferred stock" is?

— Henry Blodget (@hblodget) June 24, 2013


Martin Hill is a Catholic paleoconservative and civil rights advocate. His work has been featured in the Los Angeles Daily News, San Gabriel Valley Tribune, LewRockwell.com, WhatReallyHappened.com, Infowars.com, PrisonPlanet.com, Economic Policy Journal, FreedomsPhoenix, Haaretz, Veterans Today, Educate-Yourself.org, The Wayne Madsen Report, Devvy.com, Rense.com, The Dr. Katherine Albrecht Show, Jonathan Turley blog, National Motorists Association, RomanCatholicReport.com, Republic Broadcasting Network, WorldNetDaily, Dr. Kevin Barret's Truth Jihad radio show, The Orange County Register, KNBC4 TV Los Angeles, Strike-The-Root.com, DavidIcke.com, Los Angeles Catholic Lay Mission Newspaper, KFI AM 640, Antiwar.com, IamtheWitness.com, The Press Enterprise, Redlands Daily Facts, BlackBoxVoting, The Contra Costa Times, Pasadena Star News, Silicon Valley Mercury News, Long Beach Press Telegram, Inland Valley Daily Bulletin, L.A. Harbor Daily Breeze, Whittier Daily News, and many others. Archives can be found at LibertyFight.com and DontWakeMeUp.Org.


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Martin Hill's DontWakeMeUp.org Featured in Major Trucking Magazine OverdriveOnline.com:
The story about our lawsuit against the TX Troopers is currently featured on the front/top of the main page at OverdriveOnline.com.
Team driver to law enforcement: 'Don't wake me up' 6/21/13
http://www.overdriveonline.com/team-driver-to-law-enforcement-dont-wake-me-up/

NEW! I know you're busy. Here is the SHORT VERSION: Short and sweet, cut to the chase. Cops can not wake you up when you're in the sleeper and demand ID. If you're confused about this, read this page. If you're still confused after reading it, you're a lost cause.
DontWakeMeUp.org Short Version: Cops can't Wake up the sleeper (Otherwise Known as 'DontWakeMeUp for Dummies'.)ABC

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