Notorious single source shill Charlie Gasparino of Fox Business fed the carnival of news stories concerning Fannie and Freddie on Monday. He made the bizarre claim that the pop in the stock price on Friday was due to undisclosed “money managers” buying GSE shares because they expect Hank Greenberg to be victorious in his lawsuit.Fox business coined this the “Greenberg Trade”. This has to be one of the most bizarre GSE theories we have come across in quite some time. First of all the AIG/GSE litigation connection was brought up and discussed in great detail months ago. Why would these mysterious “fund managers” suddenly decide to buy in now? When Charlie phoned his big “scoop” into Fox business on Monday, he claimed a ruling is expected to come in March.
In reality closing arguments are scheduled for March, and no one (besides Charlie) was expecting a decision until May or June. By claiming March, it helped feed his bizarre narrative. Now it is not unusual to have lazy, uninformed journalists try and insert themselves into the GSE issue but Fox took it to new heights yesterday. With shares of Fannie up 25 percent, Charlie took to the airwaves boldly asking “When did Fox business move a stock 25 percent”? Charlie was now claiming that Tuesdays 25 percent gain was based entirely on his “Greenberg Trade” theory from the day before.To form this conclusion one must temporarily suspend reality, first you must ignore the fact that the move actually started late Thursday after Bill Ackman made the news sounding more confident than ever on his GSE trade and numerous real fund managers were turned on to the truth. You must also forget that on Friday shares soared 18 percent.And finally you must forget that on Sunday Gretchen Morgenson released a scathing indictment of the Obamas administration’s decision to keep the details of their lawless seizure private. If you are unable to suspend reality as Charlie is you quickly realize that to claim the “Greenberg trade” theory caused Tuesdays move is like predicting snow in the middle of a blizzard and then celebrating your accurate prediction. As I stated above and in our last post there are many true explanations for the recent gains, and none of these are even remotely related to the “Greenberg Delusion.”
When we confronted Charlie on Twitter today concerning what we dubbed his “Greenberg Delusion” he resorted to behavior more typically found amongst 13-year old punks.He obviously was not pleased that someone was exposing his bizarre theory for the con job that it was. At one point, Charlie challenged us to meet face to face to discuss things further but like a true cowardly cyber bully he backed down when we called his bluff. Charlie is a snapshot of all that is wrong in todays world of journalism, he is willing to compromise every shred of values to either present the “scoop” of the day or shill for one of his pimps.
The primary reason we wanted to clarify Charlies false reporting was to make it clear to everyone that very few people expect Hank to win his case. Our fear is that by Charlie presenting his delusional theory it will lead to an uninformed panic if and when Hank loses. This may have been the motive of Charlies scheme if he indeed was working as a shill rather than desperate for a “scoop”. The reality is that our case is far stronger than Hanks AIG case. The shareholders of AIG though mistreated were treated far fairer than the shareholders of GSE’s AIG was not victim of a lawless third amendment where our government changed the rules in 2012 and decided to seize all of the profits of 2 private companies.
I am truly shocked at the progress we have made since October, we are now experiencing a snowball effect as the truth gathers steam to crush our opponents inevitably. In a war such as this there will be a victor, the truth, but it is a war that never should have had to be fought. Every battle we win brings us closer to the bridge of victory. Celebrate our victories, God knows we have tread through some very dark days. Pandoras box has now been opened, and it will prove impossible to close. Don’t focus on the end, focus on the battle in front of us and have faith that the truth is always victorious. We have made many true friends throughout our involvement in this cause. The ending will mean the beginning of a new campaign for us, there will always be the need for truth and justice.
My trip was delayed by one day, but tomorrow we are off to Miami and the Florida Keys. As GSE “Commander in chief,” we realize we are never truly on vacation however we hope to get in a few good days on the beach where we will strategize what we hope is the final campaign to victory. Keep The Faith!
https://www.youtube.com/watch?v=CDpelFU6dJU ( Charlie breaks the “scoop” 2/16/15)
http://www.foxbusiness.com/industries/2015/02/17/more-stand-to-win-in-aig-case-than-just-hank-greenberg/ (Charlie brazenly celebrates predicting snow in the blizzard) 2/17/15