Vis Numar Settles.
Jerome Armstrong Pays the SEC $30K to go away.
By Leon H Wolf Posted in Blogosphere — Comments (21) / Email this page » / Leave a comment »
Drudge is reporting that Jerome Armstrong has apparently entered into a settlement agreement with the SEC in which Jerome has agreed to pay the SEC $30K just to go away. By way of reminder, the allegation the SEC brought against Armstrong was that he unethically touted a stock on an internet message board without disclosing that he was being paid to do so.
So, let's review: one of the founding members of the left blogosphere not only got his start in politics by predicting races on the basis of whether "Earley's natal Jupiter (that's being transited by Jupiter), is being dragged down by his south node there as well," he's now settled with the government over charges that he failed to disclose a conflict of interest when the law (as well as a basic sense of ethics) would have required him to do so. As noted at the time, this allegation in particular is troubling because of allegations that Armstrong was engaged in a hype-for-hire scheme in which he failed to disclose conflicts of interest with respect to his political career as well.
Now, lo these many months ago, in the course of exercising his remarkable powers of persuasion to make sure that the rest of the liberal bloggers kept quiet about the whole situation, Armstrong's long-time blogging partner and book co-author Markos Moulitsas said this:
Jerome can't talk about it now since the case is not fully closed. But once it is, he'll go on the offensive. That should be a couple of months off.
Well, it's actually been a year. But the case is apparently fully closed. We eagerly await Vis Numar "going on the offensive" to explain whether he did or did not fail to fulfill his legal obligations to disclose that he was being paid to tout a stock. More Markos:
My request to you guys is that you ignore this for now. It would make my life easier if we can confine the story. Then, once Jerome can speak and defend himself, then I'll go on the offensive (which is when I would file any lawsuits) and anyone can pile on.
Well, folks, the world awaits. Is an "offensive" from Armstrong coming? I mean to say, beyond deleting diaries at MyDD that make reference to the settlement (I am told that the "inflammatory" diary title in question was "Jerome Armstrong Admits Wrongdoing." The Google Cache has not caught it yet.)? Is Kos going to file a bunch of lawsuits now, to clear his name of the charges that the campaigns in question were really paying Armstrong in order to get favorable treatment from Kos? Or will another eerie silence fall over the left blogosphere like it did when this story originally arose?
I have a sneaking suspicion it will be the latter, don't you?
[UPDATE]: I am reminded in the comments that I forgot to mention Vis Numar's explanation for his apparent bizarre faith in Astrology. The bottom line is that it's not exactly something he's disavowing:
Oh yea, on the astrological stuff. I have done the new age type things over the years—life’s never boring that way. Down that line, I dabbled with planets and predictions in the most abstract manner, as one of several different predictive mathematical disciplines, when coming out of finances and into politics during my early blogging days (nobody is surprised that remembers the early 2001 days here), and since then have completely tapered out of it over time. So yea, the cons got me on this one being a little out of the ordinary… It has nothing to do with what I consult with in online political strategy. But hey, like JP Morgan once said, “millionaires don’t use astrology, billionaires do!”
"One of several different predictive mathematical disciplines?" The father of the left netroots, ladies and gentlemen.