God Of Kahneman's twitter feed - more SEC BS

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THE AMERICAN BAR ASSOCIATION IS NOT A DRINKING CLUB

 

 

[JASCoder]

Wowzers

[BillyOckham]

@WrathofKahneman :
“Really, it's laughable. So many opinions; no rules, only guidelines citing opinions. That aren't rules...”
 

 

Saltwater crocodiles lay immobile in shallow pools waiting for prey.  Occasionally they muddy the waters with their tail to keep things opaque and in their favour.   Dunno why that popped into my head….     
 

Edited September 6, 2021 by BillyOckham
Added tag

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[panmores]

It truly hurts to see all these videos that are surfacing. The ulterior SEC motives are that obvious. How could this be possible, one asks. But there, they did it in broad daylight, not worried the slightest about being caught while stuffing their pockets.

Conflicts of interest are a very mild term to what's going on here. It just hurts.

 

[Seoulite]

Surely this is just over at this point, right? I mean surely Ripple’s lawyers are just piling this evidence up and up and there’s no way in hell the judge can say yeah Brad and Ripple this guidance was all crystal clear you should’ve known better.

can we just declare it done and get back to price appreciation please?

[Guest]

3 hours ago, Seoulite said:

Surely this is just over at this point, right? I mean surely Ripple’s lawyers are just piling this evidence up and up and there’s no way in hell the judge can say yeah Brad and Ripple this guidance was all crystal clear you should’ve known better.

can we just declare it done and get back to price appreciation please?

Ripple hasn’t raised the defence yet IIRC. Brad and Chris did. I think there are procedural and discovery things still pending.

Once all discovery is done, both parties exchange notes on each other’s weaknesses and strengths. At that point, they may settle. 

[djdhrubs]

3 hours ago, Seoulite said:

Surely this is just over at this point, right? I mean surely Ripple’s lawyers are just piling this evidence up and up and there’s no way in hell the judge can say yeah Brad and Ripple this guidance was all crystal clear you should’ve known better.

can we just declare it done and get back to price appreciation please?

You'd think so. Unless there is a mountain of dodgy stuff found in those Slack messages and Ripple meetings, which there might be. But all of this shit should trump anything the SEC finds. This is dodgy as hell.

The only thing I can think of, literally, that might be more dodgy from a Ripple point of view is a conversation amongst senior Ripple execs saying 'We all know what we're doing is dodgy, XRP is a security, let's pump and dump this shit ASAP'. If they found that conversation, we're screwed. But I'd like to think that conversation doesn't exist lol.

[NMNR]

Everything the SEC is asking for is to increase the settlement fine. This case is over. 

[Caracappa]

11 minutes ago, NMNR said:

Everything the SEC is asking for is to increase the settlement fine. This case is over. 

I think both the SEC and Ripple don't want the burden of delivering their internal documents/Slack messages anymore. The judge ordering Ripple to provide the Slack is a costly one and therefore some leverage for the SEC to make demands in the settlement.

The SEC on the other hand had been doing everything to prevent their documents from being released. I wonder if the 'in camera' review by the judge will happen and that they will settle this matter before that happens.

If it does not settle yet, there is no way out of releasing the docs for the SEC and they will emerge perhaps destroying future cases for the SEC.

[Julian_Williams]

59 minutes ago, djdhrubs said:

You'd think so. Unless there is a mountain of dodgy stuff found in those Slack messages and Ripple meetings, which there might be. But all of this shit should trump anything the SEC finds. This is dodgy as hell.

The only thing I can think of, literally, that might be more dodgy from a Ripple point of view is a conversation amongst senior Ripple execs saying 'We all know what we're doing is dodgy, XRP is a security, let's pump and dump this shit ASAP'. If they found that conversation, we're screwed. But I'd like to think that conversation doesn't exist lol.

As I have understood it even that would not suffice because the summary judgement comes before the Court case, and the the judge says it is an objective test not a subjective test.  What Ripple employees thought is simply irrelevant to the question were ripple, BG and CL Given fair notice.  Answer is NO.

What could go wrong is that Judge Netburn decides at a late stage that summary judgement is not a Defence in this case, and therefore that she will not make a summary judgment.  After such a decision the case would be about whether XRP is a security.  That is where Deaton's evidence becomes super important.

Some of the lawyers have been saying summary judgement would be as good as clarity that XRP was not a security.  I do not understand why.

[B088IN]

46 minutes ago, Caracappa said:

I think both the SEC and Ripple don't want the burden of delivering their internal documents/Slack messages anymore. The judge ordering Ripple to provide the Slack is a costly one and therefore some leverage for the SEC to make demands in the settlement.

The SEC on the other hand had been doing everything to prevent their documents from being released. I wonder if the 'in camera' review by the judge will happen and that they will settle this matter before that happens.

If it does not settle yet, there is no way out of releasing the docs for the SEC and they will emerge perhaps destroying future cases for the SEC.

This is an interesting theory. If indeed there are transcripts incriminating and damaging to the SEC within these documents, it would be in the SEC’s best interest to prevent the judge from seeing them. That provides a very short timeline to settle from now. If there isn’t anything that damaging in them, then the judge will end up seeing them to make her decision on them and decide if Ripple can access them without redactions. 

[Caracappa]

Just now, B088IN said:

This is an interesting theory. If indeed there are transcripts incriminating and damaging to the SEC within these documents, it would be in the SEC’s best interest to prevent the judge from seeing them. That provides a very short timeline to settle from now. If there isn’t anything that damaging in them, then the judge will end up seeing them to make her decision on them and decide if Ripple can access them without redactions. 

Remember that the attorneys for Ripple (Solomon, Mary Jo) were heads in the SEC in 2017. They know very well what discussions there were and what documents exist. I think they know the SEC does not want to spill that information because it could sabotage future litigations in other projects.

So slap on the wrist, a fine, both parties win and the SEC can not be sued for billions of loses because they were 'somewhat right' about their case.