SEC Tells Agents to “Check Yourself Before You Wreck Yourself”

Securities and Exchange Commission chief Chris Cox reprimanded the agency
s enforcement division for subpoenaing two journalists, declaring their behavior renegade.

The smackdown was as rare a move as the subpoena was in the first place. The injunctions filed against the journalists are in conjunction with accusations that they conspired with short sellers to downgrade company
s stock, including Overstock.com. The online retailer is suing the reporters for slander and libel. The CEO of that company, Patrick Byrne, henceforth known as The Jabberwock, has been recorded as making abusive and inflammatory remarks against the jourmalists.

While we smell a hint of the wafting char of freshly roasted scapegoat here, it
s fantastic someone is reigning in The Jabberwock
s minions.

Beware the Jabberwock, my son! / The jaws that bite, the claws that catch!
[snip]
One, two! One, two! And through and through / The vorpal blade went snicker-snack! / He left it dead, and with its head / He went galumphing back.”

From The Jaberwocky by Lewis Carol.

We
ll be right here sharpening our vorpal blade.

Previously: “Overstock.com’s CEO Patrick Byrne ‘Perhaps’ is an Ogre

SEC May Have Jumped the Gun on Subpoenas [SF Gate]