Many thanks, Gary. I understand now why Wayne Allyn Root thinks Ramaswamy is the great future hope of the Republican Party, and just great in general. KIndred spirits.
After reading Atlas Shrugged, I know exactly how people like Vivek think. They're convinced that they're perfectly benign, that they're bring the fruits of capitalism to the ungrateful masses, and all those laws slapping them down are created solely because the petty insects are jealous of their genius.
Paul Ryan required everyone who worked for him to read it, and I'm convinced there's a bookstore near the Capitol whose owner financed a boat on the Potomac with Atlas Shrugged Cliffs Notes sales.
Ever since I became aware of Bannon and now this Pastrami guy I've been perplexed about what the difference is between destroying the "Administrative State" and common anarchist bomb-throwing.
"Investors who had bought into Ramaswamy’s hype got fleeced." As far as I can see, this is essentially no different than Elizabeth Holmes and Theranos. The investors who got screwed were lazy greedy morans who failed to do due diligence and thus deserved to lose their money.
Unfortunately it's not that easy. Yes, individual investors should have done their homework. But what about people whose pension plans were affected? Investments are decided by the fund managers, not them. Sure, the fund manager who made such a dumb choice might have lost their job, but that's not going to put money back in the pension fund. There ARE innocent victims of stock fraud.
So tough luck for the people who, through no fault of their own (its not like they have a choice what pension managers are handling their retirement fund) have pensions managers who invest with this huckster? (gotta wonder who the managers for those pension funds are and what they got out of the brilliant job they did)
Insider trading is bilking other investors. The difference is Martha did it for relatively small $240k. If you are going to do insider trading you need to do it big and the SEC will leave you alone.
I work in biotech. If a drug is "too small" for a large company, then it has potential merit. If a drug is maybe going to be able to do something "off label" for a smaller population than what it has failed to do during clinical trials aimed at a different goal, then it has merit.
If it fails to meet its endpoint during clinical trials for its specified purpose and you don't anticipate using it for a different purpose, then NO NO NO. Buying shit and hyping shit and then bailing with $ is grifting, and it's especially gross when it has to do with people's hopes relative to their or their loved ones' health and well-being.
I don't work in biotech which is why I don't invest in individual companies in industries that I don't understand really well which means only certain segments of Enterprise Computing. Every time but one I have strayed, I ended up losing money and I attribute that one time to dumb luck. And if I ever look at a consumer product stock again, some needs to poke me with a garden weasel but preferably not a rusty one.
easy-steal $5 and the cops are all over you. Steal $50,000,000 and the media hails you as a genius and the law can't and doesn't even want to touch you.
Sort of like why did Trump never get investigated about money laundering despite years of suspicious real estate transactions and operating golf courses that list money year after year. Or even his tax evasion, both for property tax and income tax. The government fails to investigate these because it does not have the will to fight someone who is rich enough to hire accountants and attorneys. But they will sure nail you over a $2,000 mistake. Apparently the size of the tax recovery doesn't count on promotions, just the number of cases. So instead of hiring qualified investigators who can win multi million dollar recoveries you may advance further getting 800 recoveries of $1,000. Of course the loopholes built in by lobbyists doesn't help.
It kind of seems insider-trader-y to me. We don't see clinical results until everyone else sees results, though there are times where you hear rumors (or I used to at my last company where I was better-connected).
It is straight-up ILLEGAL to ever act on any of that info. Clinical folks are putting together reports before the release of info to the public, and their asses would be thrown in jail if they suddenly bought or dumped stock before a major announcement. We take training in this EVERY YEAR.
He's a scammer at the very least: buying a product that didn't work, hyping it and getting the investment, and then tapering off on the product while keeping the $$$, even if not directly associated with stock fraud.
It's a lose/lose situation for lower-level people (the higher-ups can go fuck off at their fancy houses). If you're a basic analytical chemist who knows nothing works and you say "this doesn't work", then either you are a hero if you are somehow a whistleblower or you lose your job (hint: they'd lose their job).
I'm someone who has said "no" over and over again. The people on the ground always know what's really happening. And we get nothing for being the only honest players, because we are just trying to do our jobs.
ETA: I've never been in a company that was purposefully misleading anyone (that I know of). Just that when folks on the ground say "this isn't going to work", maybe listen to them.
my experience, none of it in any related field, mind, is that bosses NEVER want to hear No when they want yes, and your honesty is as welcome as a slap in the face, indeed it is perceived as willful, malicious disobedience. It is THE cardinal, unpardonable sin.
Out of all the Cleveland Browns in the world, you're the Cleveland Browniest
How is it that he gets away with this, when Elizabeth Holmes went to prison for doing exactly the same thing?
Never heard of this guy and will never hear of him again.
Au contraire. He is trying to run for the heir apparent to Trump in the Republican nomination. You will hear from him.
'' Then he dried his tears with a thousand-dollar bill and went on to the next grift.''
If he had a real thousand-dollar bill, then it is worth more than $1000, as they haven't been around since 1969...
Jesus, if this "almost resembles" a classic pump-and-dump wtf is an actual pump-and-dump scheme?
Many thanks, Gary. I understand now why Wayne Allyn Root thinks Ramaswamy is the great future hope of the Republican Party, and just great in general. KIndred spirits.
Fudge round libelz.
After reading Atlas Shrugged, I know exactly how people like Vivek think. They're convinced that they're perfectly benign, that they're bring the fruits of capitalism to the ungrateful masses, and all those laws slapping them down are created solely because the petty insects are jealous of their genius.
I only got to Page 78. I am impressed.
Paul Ryan required everyone who worked for him to read it, and I'm convinced there's a bookstore near the Capitol whose owner financed a boat on the Potomac with Atlas Shrugged Cliffs Notes sales.
Ayn Rand, Rand Paul, and Paul Ryan walk into a bar. The bar serves them tainted alcohol since there are no regulations. They die.
When the Cliffs Notes are longer than the actual book... it's like these umpteen bazillion "Bible commentaries"
I was young and naive at the time. Didn't know how the world worked.
If only Vivek & Co.'s election script was as poorly written as "Altas Shrugged" we wouldn't have a thing to worry about!
Ever since I became aware of Bannon and now this Pastrami guy I've been perplexed about what the difference is between destroying the "Administrative State" and common anarchist bomb-throwing.
One is honest labor in furtherance of a political ideology, the other is something wankers who are running for office do.
This is my shocked face. Pharma-bro runs for president.
"Investors who had bought into Ramaswamy’s hype got fleeced." As far as I can see, this is essentially no different than Elizabeth Holmes and Theranos. The investors who got screwed were lazy greedy morans who failed to do due diligence and thus deserved to lose their money.
Unfortunately it's not that easy. Yes, individual investors should have done their homework. But what about people whose pension plans were affected? Investments are decided by the fund managers, not them. Sure, the fund manager who made such a dumb choice might have lost their job, but that's not going to put money back in the pension fund. There ARE innocent victims of stock fraud.
Most small investors I am sure, do not have extensive experience and training in finance.
This is like blaming consumers for getting food poisoning from packaged greens.
Only the scamming guy is innocent.
Christianity is an entire religion based on victim-blaming,so no surprise there
So tough luck for the people who, through no fault of their own (its not like they have a choice what pension managers are handling their retirement fund) have pensions managers who invest with this huckster? (gotta wonder who the managers for those pension funds are and what they got out of the brilliant job they did)
3.5%, same as downtown
that Vivek story is particularly galling. I rather not think about that too much lest I punch a thing.
I'm sorry, I can't even with this fuckstck asshat...of course he is a shit human and his net worth is 'Less than Zero'....
Didn't Martha Stewart go to jail for a lesser offense? She just sold her stock based on insider information. Not like she bilked other investors.
Insider trading is bilking other investors. The difference is Martha did it for relatively small $240k. If you are going to do insider trading you need to do it big and the SEC will leave you alone.
I work in biotech. If a drug is "too small" for a large company, then it has potential merit. If a drug is maybe going to be able to do something "off label" for a smaller population than what it has failed to do during clinical trials aimed at a different goal, then it has merit.
If it fails to meet its endpoint during clinical trials for its specified purpose and you don't anticipate using it for a different purpose, then NO NO NO. Buying shit and hyping shit and then bailing with $ is grifting, and it's especially gross when it has to do with people's hopes relative to their or their loved ones' health and well-being.
I don't work in biotech which is why I don't invest in individual companies in industries that I don't understand really well which means only certain segments of Enterprise Computing. Every time but one I have strayed, I ended up losing money and I attribute that one time to dumb luck. And if I ever look at a consumer product stock again, some needs to poke me with a garden weasel but preferably not a rusty one.
I don't understand why this guy hasn't been charged.
easy-steal $5 and the cops are all over you. Steal $50,000,000 and the media hails you as a genius and the law can't and doesn't even want to touch you.
Sort of like why did Trump never get investigated about money laundering despite years of suspicious real estate transactions and operating golf courses that list money year after year. Or even his tax evasion, both for property tax and income tax. The government fails to investigate these because it does not have the will to fight someone who is rich enough to hire accountants and attorneys. But they will sure nail you over a $2,000 mistake. Apparently the size of the tax recovery doesn't count on promotions, just the number of cases. So instead of hiring qualified investigators who can win multi million dollar recoveries you may advance further getting 800 recoveries of $1,000. Of course the loopholes built in by lobbyists doesn't help.
It kind of seems insider-trader-y to me. We don't see clinical results until everyone else sees results, though there are times where you hear rumors (or I used to at my last company where I was better-connected).
It is straight-up ILLEGAL to ever act on any of that info. Clinical folks are putting together reports before the release of info to the public, and their asses would be thrown in jail if they suddenly bought or dumped stock before a major announcement. We take training in this EVERY YEAR.
He's a scammer at the very least: buying a product that didn't work, hyping it and getting the investment, and then tapering off on the product while keeping the $$$, even if not directly associated with stock fraud.
It reminds me of a podcast I head about Theranos - loads of people there knew the product was never, ever going to work.
It's a lose/lose situation for lower-level people (the higher-ups can go fuck off at their fancy houses). If you're a basic analytical chemist who knows nothing works and you say "this doesn't work", then either you are a hero if you are somehow a whistleblower or you lose your job (hint: they'd lose their job).
I'm someone who has said "no" over and over again. The people on the ground always know what's really happening. And we get nothing for being the only honest players, because we are just trying to do our jobs.
ETA: I've never been in a company that was purposefully misleading anyone (that I know of). Just that when folks on the ground say "this isn't going to work", maybe listen to them.
my experience, none of it in any related field, mind, is that bosses NEVER want to hear No when they want yes, and your honesty is as welcome as a slap in the face, indeed it is perceived as willful, malicious disobedience. It is THE cardinal, unpardonable sin.
Neither does "George Santos."
He should choose Martin Skrelli as his VEEP.
Ugh. I should have read down farther…