Read the 15 chapter story by " Deep Capture" of Michael Milken and his friends that ran the Hedge Funds that owned naked short shares of Dendroen (DNDN) when they were trying the get Provenge their prostate cancer drug approved by the FDA.
It goes into detail how far these people went to make sure their short investment paid off while in the meantime they made a bundle on three pump and dump companies they set up to supposably compete against Dendroen's Provenge. Only in the end buying up the majority up the stock in Dendroen itself.
It all starts with a well known clown who anounces the FDA rejection of Dendroen's Provenge prostate cancer drug. The only problem was only in Phase III Trials at the time and wouldn't be submitted the FDA for at least another year.
Who would be so stupid to make such a mistake as this to the public on televission?
The one and only Jim Crammer!
A must read while we are waiting for DEA and EU!
I've been thinking we need a grassroots organization based in WA to fight and bring to light all the corruption on WS (and beyond)...like lobbiests and everything. Why on earth doesn't this exist? So much goes on to rob the retail investor it's sad but it's not getting better even with all the newly created agencies to protect us-it's just getting worse and worse. Itso simple that they can create a rumor over Twitter and capitalize on it and othing happens except they make a lt of money and everyone elses loses. Doug Kass did this with Apple and he made a fortune only a few mths back.
I read it. Fascinating stuff. What can you say about ARNA? Everyone knows its being held back by sore losers who bet the wrong way. Yes we could all lose our Investment. And No, nothing will happen to the Perps. Americans have short memories.
My apologies for the bad grammer and mis-spellings but I asure you this is no joke. I read this actual pdf file on the SEC's wedsite last nite and couldn't believe it. Everyone who has or is invested in drug companies must read this. The corruption spans from the Russian mafia to Jim Cramer the Hedge Funds to Dr Scher on the FDA Advisory committee to the FDA itself to Congress's inability to investigate.
Please take the time to read this,. I know Yahoo won't let me post it but it is an actual SEC pdf document!
How DARE you isolate one single mistake by Jim Cramer when there are literally thousands of mistakes by Cramer out there to choose from. Then again, it wasn't really a mistake was it? Corruption and market manipulation are a whole different game.