Forget David Sokol, Is The SEC About To Tell Charlie Munger To "Suck It In"?

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Sun, 04/03/2011 - 22:29 | 1131111 jkruffin
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The porn site bill must be bigger this month at the SEC. Those live private shows start costing more and more right?  Bet everyone right now, absolutely nothing happens here....

Sun, 04/03/2011 - 22:45 | 1131149 Ahmeexnal
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Munger has no option now but to open his piehole and start spewing out dirty deals by Soros.

Mon, 04/04/2011 - 07:12 | 1131633 BigDuke6
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Buffett's tacit approval of this criminality confirms him as a total and utter douchbag, in case anyone thought otherwise.

Mon, 04/04/2011 - 09:04 | 1131862 Thomas
Thomas's picture

It's Douchebag and, when referring to Buffett, it should always be capitalized.

Sun, 04/03/2011 - 23:10 | 1131216 DoChenRollingBearing
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NOTHING will happen to the rich members on Team Obama.

Mon, 04/04/2011 - 00:52 | 1131419 anonnn
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  Privilege is the trump card.

Sun, 04/03/2011 - 23:16 | 1131233 vas deferens
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Don't worry the SEC bill for porn is nothing compaired to the Pentagon's!! Do you know how much they are charging for Child Porn these days?

Operation Flicker


Sun, 04/03/2011 - 22:31 | 1131114 SolidSnake961
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noone can frontrun like goldman but the old farts are trying

Sun, 04/03/2011 - 22:46 | 1131120 EvlTheCat
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Come on, everyone, let's Wang Chuan-Fu Tonight

Finally, he [Brutus] spoke to Volumnius himself in Greek, reminding him of their student life, and begged him to grasp his sword with him and help him drive home the blow. And when Volumnius refused, and the rest likewise ... grasping with both hands the hilt of his naked sword, he fell upon it and died.!

Sun, 04/03/2011 - 22:37 | 1131121 ss123
ss123's picture

I'm going to start a conspiracy here and make a prediction: Sokol will attempt to take down as many as possible if he gets thrown under the bus here.

And one more thing: Charlie can suck it. Will never forget that comment he made telling the public to suck it in while his ass was getting bailed out.

Sun, 04/03/2011 - 22:39 | 1131137 NidStyles
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That's a given. Unless someone pay's his family a visit, which is equally likely.

Mon, 04/04/2011 - 01:05 | 1131442 Rick64
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 Its surprising to me that Sokol would implicate Munger in public unless things weren't as rosy as they are portrayed.

Sun, 04/03/2011 - 22:39 | 1131134 NidStyles
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I thought his reasoning for quitting were quite telling. His made his money, and got out. I bet you find out that he has a home out in the boonies somewhere where he has stockpiled food water and ammo.

Sun, 04/03/2011 - 22:40 | 1131138 SparkyvonBellagio
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Sun, 04/03/2011 - 22:40 | 1131140 nah
nah's picture

Jesus: "give a man a fish"

Sun, 04/03/2011 - 22:43 | 1131150 HoofHearted
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Martha Stewart's ass would be so deep in jail about now...if she were Charlie Munger.

Sun, 04/03/2011 - 22:46 | 1131152 Cursive
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Munger should have made his 3% stake in BDY known (i.e. public) earlier.  I doubt this goes anywhere, though.

Sun, 04/03/2011 - 22:44 | 1131153 Oh regional Indian
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Meanwhile, I've discovered that chain mail forwarding is a great way to change th epublic mind-set about the criminal over-class. I got a mail forward yesterday with a cloyingly sweet powerpoint about the orifice of omaha and his simple ways and his newspaper delivery start and his love for the world..... it made me sick. I'm sure a million or more have seen it (thsi mail trail alone had a few thousand adresssees). 

Very clever I thought. Sneaky, jest like them rich folk.

We live under three sets of rules. One for the over class (no rules), one for the middle class (mountain of rules) and one for the under-class (no rules but just restrict the damage to yourself and your own).

The social pyramid.


Mon, 04/04/2011 - 00:08 | 1131356 NrYC
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The prison population in the US is over 2 million.

Mon, 04/04/2011 - 06:22 | 1131612 CunningLinguist
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The prison population may be over 2 million, but I'll bet you can count the amount of rich fat cats there on one hand. The only reason Bernie Madoff is in prison, is because he made the mistake of swindling some of the wrong people (Elites).

Mon, 04/04/2011 - 01:48 | 1131487 Conrad Murray
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Wouldn't be too expensive for a few people to get money together to rent the services of someone with a...distributed network of...emailers. Could spread any message far and wide.

Mon, 04/04/2011 - 04:24 | 1131568 Oh regional Indian
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My thoughts exactly CM. And retirees and young folk are the biggest chain mail forwarders/readers and gullible to boot.


Sun, 04/03/2011 - 22:45 | 1131156 Ted K
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SEC rule #1: Make the appearance of doing something about securities fraud.

SEC rule #2: Don't actually enforce securities fraud.

SEC rule #3: If the common natives begin to notice the facade/charade of rule #1, go after some short-sellers who expose SEC incompetence and jerk at their testicles. 

SEC rule #4: If rules #1--3 don't work, shrug your shoulders and go watch some internet porn.

Sun, 04/03/2011 - 22:56 | 1131184 tickhound
tickhound's picture

Addendum to SEC rule #1...


SEC rule #1: Make the appearance of doing something about securities fraud, Monday through Friday, between the hours of 9 am and 5 pm, observing all federal holidays and mandatory vacation time.

Sun, 04/03/2011 - 23:40 | 1131296 EvlTheCat
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Addendum to Addendum to SEC rule #1:

SEC rule #1 part C:  If inclement weather is affecting any part of the U.S. during the execution of SEC rule #1 then treat the current day as outlined in SEC rule #1 part B as observing a federal holiday.

Mon, 04/04/2011 - 03:25 | 1131540 No More Bubbles
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Fuck the SEC!  When do we start lynching these rich crooks?

Sun, 04/03/2011 - 22:46 | 1131159 The Rogue Trader
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Disgusting double standard....these guys need to study history...Marie Antoinette thought she was entitled to a double standard too Warren, Charlie....hello?

Sun, 04/03/2011 - 22:58 | 1131187 traderjoe
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I'm sorry I already trademarked the phrase American Exceptionalism.


Sun, 04/03/2011 - 23:02 | 1131200 Atomizer
Atomizer's picture

Watch out grandpa, there going to take your choo choo trains away.

Sun, 04/03/2011 - 23:05 | 1131207 Itsalie
Itsalie's picture

Sucking it up, like Charlie, Bernank and his masters recommend. I am sure he enjoys reading such stories; and yes, the SEC will ask all their staff to continue watching porn this week and thereafter:

Sun, 04/03/2011 - 23:08 | 1131209 vas deferens
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This is the same fat slob that said owning gold was anti-American.  I guess insider trading and a bucket of KFC extra crispy is the American dream now.

Sun, 04/03/2011 - 23:12 | 1131226 Raymond K Hassel
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The day the SEC tells Charlie to suck it is the day after internet porn goes dead.

Sun, 04/03/2011 - 23:22 | 1131254 6 String
6 String's picture

This is a rounding error report that will disappear faster than one can read it....but, hey, it's still worth reporting. After all, when you spin yourself as all-American Apple Pie for 50 years while fleecing the middle class of almost everything in your last days to keep them subservant to your all powerful self and maitaining your legacy at any expense becomes the new rule #1 and rule #2 is don't forget rule #1 of mainting status-quo of legacy survivalship then anything at that point goes. Especially after 50+ years.

The funny thing is all Berkshire board members and executives seem to have fogotten the basics of the other rule: Don't do anything you wouldn't want written about on the front page of the newspaper. Of course, I guess the old saggy balls have come to the conclusion that its okay so long as it only makes the the back page news and when any wrong doing gets weeded out for for it is they can always just resort to their strawman argument:

Suck it up.

Well, indeed, they can suck it up since they are losing every ounce of integrity they may have had at one point. What losers.

Sun, 04/03/2011 - 23:32 | 1131262 palmereldritch
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Blue Horseshoe loathes Anacott Steel

Sun, 04/03/2011 - 23:36 | 1131279 tmosley
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Damn, yet another guy with a fitting name.

Sun, 04/03/2011 - 23:37 | 1131289 truont
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I don’t believe I did anything wrong. Charlie Munger owned 3% of BYD before he asked me to go look at it.

David Sokol:  If I go down, I'm taking you with me, Charlie...

Mon, 04/04/2011 - 00:08 | 1131353 Careless Whisper
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Don't fuck with me fellas, this ain't my first time at the rodeo.



Sun, 04/03/2011 - 23:41 | 1131293 SparkyvonBellagio
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They should have a duel.


Pistols ready.



Sun, 04/03/2011 - 23:49 | 1131317 williambanzai7
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He gets appointed to be Obama's Capital Markets Czar and is asked to be a judge on America You've Got Swindling Talent

Sun, 04/03/2011 - 23:56 | 1131323 bankonzhongguo
bankonzhongguo's picture

What an embarrassment to wear a federal badge these days.

With the likes of Shapiro, Napolitano, Holder, Geithner and The Bernak presiding over a howling wilderness of wanton financial crimes, how could any federal agent honestly wake up in the morning knowing that they are making a difference?  Well there is always Headquarters, if you can avoid setting yourself on fire in your backyard.

What's that line from Apocalypse Now?  '... like handing out speeding tickets at the Indy 500 ...'

How about being the shit-house towel boy fluffer at the end of a 100 man gang bang.

Ask them if they want a mint.  Maybe you will get a tip.  Doing security for that Lady Gaga after 20 years of CQB.

These money worshiping creep fucks and their purchased AUSAs are laughing at you while they work to take YOUR very pensions away and otherwise suck the future from your children like a ghoul fellates the head of a broken femur.  All under your watch.

Fidelity, Bravery, ...? Hanssen?

2 years to build a case in a HFT environment?  Only to have the prosecutor shelve it because they go to the same temple as your collar?

Time for a Star Chamber.

If anyone still remembers how to catch a real crook anymore.


Mon, 04/04/2011 - 00:07 | 1131351 palmereldritch
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Well, you see, Willard, in this war, things get confused out there. Power, ideals, the old morality, and practical military necessity. But out there with these natives, it must be a temptation to be God. Because there's a conflict in every human heart, between the rational and irrational, between good and evil. And good does not always triumph. Sometimes, the dark side overcomes what Lincoln called the better angels of our nature.

Apocalypse Dow

Mon, 04/04/2011 - 00:35 | 1131401 Coldfire
Coldfire's picture

[A] function of the Court of Star Chamber was to act like a court of equity, which could impose punishment for actions which were deemed to be morally reprehensible, but not in violation of the letter of the law. This gave the Star Chamber great flexibility as it could punish offenders for any action which the court felt should be illegal even when in fact it was technically legal; however it also meant that the justice imposed by the Star Chamber could be very arbitrary and subjective, and allowed the court to be used later on in its history as an instrument of oppression rather than for the purpose of justice for which it was intended. Many crimes which are now commonly prosecuted such as attempt, conspiracy, libel and perjury were originally developed by the Court of Star Chamber, along with its more common role of dealing with riots and sedition.

Well, if you want to make an omelet, you have to break a few eggs.

Sun, 04/03/2011 - 23:53 | 1131329 Lothar the Rott...
Lothar the Rottweiler's picture

The funny thing is, as corrupt and dirty as they are, the folks they buy out are absolutely ENTHRALLED and worship Ole Warren and BRK.

Personal experience here, folks.  Come and get me, you losers who suck at the craven man's teats after you made your fortunes.

Sun, 04/03/2011 - 23:59 | 1131335 IrrationalMan
IrrationalMan's picture

we all know this is a non event.  if they bring charges, then he will just have some sort deal where he doesn't go to jail because of his advanced age. 

Sun, 04/03/2011 - 23:59 | 1131340 MiguelitoRaton
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Sorry Charlie, front-running's for inmates.

Mon, 04/04/2011 - 00:23 | 1131385 davepowers
davepowers's picture

Becky Quick was distraught

did she bet on the wrong horse?

and, man, they gave that guy a lot of air time


Mon, 04/04/2011 - 05:08 | 1131582 ss123
ss123's picture

Yes... it's as if Sokol was Buffet.

Mon, 04/04/2011 - 00:27 | 1131397 Caviar Emptor
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Simply put, we have ourselves a two-tiered system of justice. Just like the old aristocratic social systems that Americans fought a revolution to get out from under. It's good to be back. That whole social mobility crap only caused headaches. Everyone should know his place

Mon, 04/04/2011 - 00:43 | 1131410 Coldfire
Coldfire's picture

If that Mary Schapiro dude's SEC were anything more than a paper tiger, Munger and Sokol would soon be buckling down to learn new skills such as salad tossing and wet nursing.

Mon, 04/04/2011 - 01:06 | 1131443 Jason Bourne
Jason Bourne's picture

When the collapse comes - and it will - may it come in such as a way that it's clear even to the masses who was really responsible.

Hmmm Zerohedge ought to print a deck of playing cards - Banzai can do the art :)

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