March 7, 2010

"I have called ALL the highs and lows of the market giving EXACT DATES for rises and crashes over the last 14 years."

Did Sean David Morton think there was some "prophet" exception to securities regulation? Or maybe he — or you — think some things are so stupid that the people who believe them don't deserve any protection from the government.


rhhardin said...

As an Imus guest last week said after listening to an invest-in-gold commercial, how come if it's such a good deal they want to trade their gold for your money.

Automatic_Wing said...

Pretty awesome picture. That is one large cat standing on the prophet's shoulder.

Anonymous said...

Here's what the SEC does not claim in its press release:

* That any of his investors lost any money.

In fact, they're strangely quiet on this topic.

They claim he "diverted" some of the money entrusted to him ($240,000 of the $6 million raised) ... but all investment firms do this. Smith Barney, for instance, calls this a "transaction fee."

Have you at your bank statement lately? Didja notice them "diverting" the money you invested in your savings account? Bank of America steals $16 a month from the money I've invested with them.

The SEC also never alleges that Sean's website isn't fucking totally awesome.


It's a good thing that the SEC is actively pursuing CATMAN, you know instead of Bernie Madoff, who got away with it for 30 fucking years even though the SEC was told of his Ponzi scheme 6 times by concerned investors.

Dust Bunny Queen said...


As an Imus guest last week said after listening to an invest-in-gold commercial, how come if it's such a good deal they want to trade their gold for your money."

Sorry about the linkwhoredom: The Dumbplumber (my hubby) had blogged about this topic months ago. The man is always ahead of the curve!!

"Hey folks, has anyone but me wondered why all these shysters are hawking gold?"

You don't have to be a psychic to be able to figure out some things.

Yes. If people are this stupid it isn't the government's job to protect them from everything.

Phil 314 said...

What's with the cat!

Phil 314 said...

And was he just about to sing his rendition of "Stop in the Name of Love"?

Anonymous said...

I was bowled over by the SEC's use of the verb "disgorge", as in, they are seeking a judgment to force the defendants to "disgorge their ill-gotten gains." Probably it's normal legalese for this sort of case, but it conjured up an almost Bosch-like image of gold coins flowing out of the prophet's mouth as he is being interrogated by demonesque SEC officials.

Calypso Facto said...

Re: Peach

"Disgorge ill-gotten gains" is indeed standard white collar legalese. But for a more appropriate visual element, I myself would have gone for "cough up the hairball"!

wv: malpatiz. Burgers at the food court?

Jason said...

Idiots. This guy promises the impossible and absurd and people send millions for him to invest. I show a fixed annuity, promising 3.5%, in writing, with favorable tax treatment, no risk of loss and a track record of success and people assume I'm lying to them or trying to rip them off.

Go figure.

g2loq said...

Obama will be gone someday ...
His voters will remain among us.

traditionalguy said...

So what should the SEC do to the History Channel? They predict the end of the world 7 nor 8 times a week based upon Nostradamus and the Mayans Calendar. They also run continuous "Documentaries of the earth after all people have disappeared. This dude's words dodoes far less harm. Maybe the DC guys are jealous that he is believed while Obama and Gore are ignored for equally dumb nonsense.