SEC Response to Defendants’ Letters re Peirce and Roisman

[HAL1000]

https://www.dropbox.com/s/1m1issta0djffsu/SEC Response to Defendants’ Letters re Peirce and Roisman.pdf?dl=0

Nope, I ain't read all 61 pages of it, someone else here needs to do some work - someone please call HULK HOGAN sorry I mean Jeremy LOL.

Edit:-

And here's Hogan

Jeremy Hogan

The SEC dodges the argument. Where does this pleading address the "Statement" and Fair Notice defense head on? Not once. Because the SEC can't! When you can't argue the issue - dodge it (I've done this before). I would guess that Judge Torres is too sharp for this tactic.

If you are a legal nerd, check out the case the SEC is relying on in summation. The case is a motion to dismiss an indictment and not even relevant to the Ripple case (different procedural posture) although perhaps relevant to the individual cases.

Edited July 22, 2021 by HAL1000

[HAL1000]

A quick summary - the SEC are still full of S**T - their attack dogs are not backing off, this beggars belief and goes against any common sense. OMG the SEC - I only managed to get to page 2 before I barfed.

[HAL1000]

A snippet of SEC BS:-

"This case should not be decided on the basis of speeches but on the basis of Howey and the cases applying it, just like every other case in the digital asset space has been decided."

SEC DIRECTOR BEING INTERVIEWED AS SEC DIRECTOR - NOT BILL HINMAN AVERAGE MAN OFF THE STREET, WHEN WE, WE, WE'RE  - GIVE US ALL A F*****G BREAK. I SEE JC IN THERE AS WELL, WTF.

Edited July 22, 2021 by HAL1000

[HAL1000]

I have shown this before, but it seems very relevant - keep in mind what they have just said in the above filing - "This case should not be decided on the basis of speeches" how about misleading senators, the SEC - SELF ENRICHING LYING DECEITFUL F'ING CRIMINALS.

 

Edited July 21, 2021 by HAL1000

[Guest]

The SEC response is well written garbage. 

How can they talk about protecting investors when they dropped this enforcement action days before Christmas after being fully aware and warned that this would cause havoc on the secondary XRP markets? 

[HAL1000]

This is desperate, in this filing they have dismissed their own commissioner's recent statements about the confusion the markets / companies / individuals / exchanges etc have had to endure due to THEIR lack of clarity. They are just listing a litany of existing cases as to exemplify THEIR self-righteous stance that everyone should have known they were selling securities and should have registered with them etc.

ALL THIS IS A F'ING JOKE.

[HAL1000]

FOR THOSE WHO CAN NOT BE BOTHERED READING 61 PAGES OF SEC BS.

 

Edited July 22, 2021 by HAL1000

[JASCoder]

But, what can they say ?

When you must deliver a response, and the only responses you have are lame ones, then you give them your best shot. AKA "between a rock and a hard place." 

[HAL1000]

My takeaway - the SEC maybe using this to get congress, etc, to grant them more powers and legal authority to go after this space. This is a F'ing mess and a s**t show, talk about a war at the top.

[HAL1000]

Going on J. Hogans brief summary - in my edit of the top post - I smell victory - he has said before, there are usually 2 teams, one working behind closed doors trying to reach settlement and the other is a full on attack dog.

[HAL1000]

MOONY LAMBO BREAKS IT DOWN:-

 

Edited July 22, 2021 by HAL1000

[HAL1000]

And the Digital Asset Investor show's once again the hypocrisy of the SEC.

 

Edited July 22, 2021 by HAL1000

[Julian_Williams]

The lawyers seem to be saying the response is a very weak distraction ploy, unlikely to impress the judges.

This feels like an endgame playing out with both sides fighting hard to the end in public whilst negotiations are continuing behind closed doors.  It looks to me as if Gensler is playing his cards; getting Warren and Pierce to putting letters ghost written by himself into the mix to set up the board for his game plan post settlement.  July 27th looks like an important target to settle because that would prevent Hinman's (incriminating?) deposition and releasing SEC's (incriminating?) internal documents.  It would also stop a bad precedent being formed for fair notice defence.

Post SEC the focus will be on regulating the exchanges (in favour of his friends in big business to swipe a big part of the crypto business) and getting Congress to pass laws that bring securities laws more into line with how the rest of the world is working (in favour of his friends in big business to swipe a big part of the crypto business).  Gensler is no saint, but he is clever enough to know what crypto is and plan ahead.  It seems he also like to work/pull strings behind the scenes rather than make public declarations (he has been so silent).

[robertbruce]

20 minutes ago, Julian_Williams said:

It seems he also like to work/pull strings behind the scenes rather than make public declarations (he has been so silent).

silent not so methinks - busy grooming his legals for this - nuthin' proactive has come yet!

[Julian_Williams]

48 minutes ago, robertbruce said:

silent not so methinks - busy grooming his legals for this - nuthin' proactive has come yet!

This case was destroyed by the Pierce Roisman letter.  I do not think they did that on their own without first discussing it with Gensler.  The Warren letter was a gift to Gensler, and many think written by Gensler. 

The SEC case was a poison chalice passed to him by the corrupt previous admin and he has been wise to distance himself and keep his hands clean.  I am sure busy being proactive behind the scenes, but he seems (I am guessing) to use others to present his opinions and set up his moves.

There is a new approach and agenda developing in plain sight;

• regulate the exchanges
• get Congress to enact new legislation to regulate crypto securities  
• end this case with a draw, and without giving away details of the corruption that was obviously rife in Clayton's admin. (from Gensler's point of view July 27 looks like a critical date to complete settlement but Ripple have an interest in pushing Gensler to the limits of his generosity, which means using the Hinman deposition as a big stick to wring every last drop of blood out of his weak position, but that stick goes after Hinman has been deposed because after that date much of the damage is done.  (Ripple have one more stick; the (incriminating?) internal docs)).

 

Edited July 22, 2021 by Julian_Williams