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View Diary: Wikileaks Under Attack: California Court Wipes Wikileaks.org Out of Existence (262 comments)

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  •  AHA! Sic the SEC on them! (5+ / 0-)

    As a fund manager and financial institution, this Julius Baer subsidiary is very much under the thumb of the SEC. Now the SEC has incredibly broad and sweeping powers of enforcement and protection.

    If the SEC is provided with true information about this IPO which can impact the level of risk for the IPO investors, they can make life very difficult for the folks at Julius Baer. (Which is why they would want to squash this to begin with.)

    Regardless of the court's finding, if the SEC gets this information (originally from the former Baer VP) they are obliged to investigate; if the initial whistleblower broke a law at all, it was not a US law, so possible objections about illegally obtained information would not seem to apply. (One would think that the court would have considered that, too.)

    I would think that the next move would be to make sure that the SEC has this info and is investigating it. In so doing, however, one must be very careful about how to approach it, especially in public posts. These posts, themselves, if not truthful, or if they contain material insider information, could be deemed tampering by the SEC, in order to sabotage the IPO. (And that could be big trouble in itself.)

    Also, the SEC is one agency that is not afraid to go after moneyed interests, because they inevitably represent an even larger moneyed interest (the IPO investors and backers, and the market as a whole).

    What do the securities types think?

    Anything worth saying can be said on a t-shirt.

    by spitemissile on Mon Feb 18, 2008 at 10:31:07 AM PST

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