– From “Front and Center”, by C. Austin Burrell –
With the release of the CNBC CYA piece Friday on Anthony Elgindy, the convicted felon, the exodus of his journalist supporters and apologists stage left has not only continued, but expanded. For over 10 years, this coterie of killer clowns has relentlessly attacked victims of illegal short selling manipulation with every slander imaginable. Then, in a single one hour piece, their world came crashing down, along with their co-conspirators at the regulatory agencies who made hay by attacking criminals and the defenseless in the name of hanging the easiest low hanging scalps from their belt.
The CNBC segment of the “American Greed” series, titled “Mad Max on Wall Street” was laughable in its defense of many of Elgindy’s supporters. While it attacked Elgindy personally, it left out little bites like his prior conviction for felony insurance fraud in Dallas before he appeared in San Diego.
Elgindy was a former pump and dump broker for the notorious Blinder, Robinson (known in the trade by the not so affectionate name “Blind ‘em and Rob ‘em”) in Denver, before he moved on to another bucket shop where the commissions were greater in Dallas. When he saw both these firms go under to regulatory and criminal findings, he astutely morphed himself into a short seller, one who postured himself as being only concerned with outing criminal pump and dump stocks like he had previously lived off of. [entire post]