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The SEC has filed its reply about the attorney-client privilege

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Well, it doesnt matter how much they f*cked up (again) -- they have netburn. And they know that she`s the kind of judge they can manipulate into getting everything they want.

Many lawyers say this and the RFA issue would be a perfect time for J. Netburn to finally call the SEC out - My prediction: She will not. She probably will try to find a soft way out for the SEC (again) in that shes going to allow some of their arguments and she`ll make her ruling seem like its a fair compromise (again) while in reality it will be a win for the SEC (again)

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"Government is good at one thing: It knows how to break your legs, and hand you a crutch, and say, see, if it weren't for the government you would not be able to walk."  Harry Browne

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13 minutes ago, Vvittin said:

 So it’s his personal opinion, but also part of his official duties...I’ll grab my popcorn for this dumpster fire.

Its a farce, and only because netburn allows it to be! why should the SEC stop with delaying, twisting and turning if the judge lets them without any consequences? SEC lawyers are doing their jobs exactly as intended... (knowing ripple won`t object to any decision because it would delay this case much much further) ...and it works thanks to netburn

The fact alone that the SEC was allowed to file a sur-reply on this otherwise fully briefed motion regarding an issue which was first ruled on 1 year ago is characteristical for how she handled this case so far!

(to be clear I`m bullish on the outcome of this case and XRP overall, but as the reasons for this lawsuit and SEC`s intentions are clear, to me netburn turns out as being part of the problem!)

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I hate it so much that it almost makes me sick, but I reckon the SEC is going to get away with this. At least to the extent that they will be able to redact/withhold the stuff that really matters (the exact stuff that should not be allowed to be withheld from the court). 

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Posted (edited)

I think Netburn has done an excellent job making the case water tight and difficult to appeal.  She has made many statements reinforcing Ripple's case for Fair Notice ruling, and clamped SEC very tightly to their Court statements that Hinman's speech was a private opinion.

The heavily redacted FOIA documents so far squeezed out of the SEC have demonstrated, along with documents published on the Deaton timeline, that SEC is oiled by a culture of undeclared conflicts of interests and revolving door between Banks/politics and Regulation (Like it was ten years ago when Madoff scandal broke). 

SEC's own Ethic department have declared Hinman to have conflicts of interests, and we know they were cut out of seeing drafts of Hinman's speech.

This case/scandal is now catching the attention of the US senate and elements of the media, but it seems being denied by the Democrat leaning side of politics and media).

Looking at ETH's price it may seem that ETHgate is not getting traction with the ETH community/investors.  ETHgate is however now inside the foundations of Consensys and its implications for the Brooklyn Group will not be avoided.  This scandal will go on rolling long after Ripple settle with SEC, and it will ruin/erode the price/market advantage of legacy crypto over Alts.   

Netburn is no fool. From the beginning she made it known to the Court that she would investigate and understand crypto and how it works.  I have no doubts she has been following this in the media and knows if she pivots on her previous statements, she could be blamed for allowing the SEC to get away with another Madoff scandal.

Be patient. The wheels of justice grind extremely slowly, and this is a government agency that is on the rack.  It has to be done thoroughly and be seen to be fair to both sides.

Edited by Julian_Williams
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THE Stupid Ethereum Criminals are serious...

At this point, why does this agency even exist, THEY ARE SCAMMERS and RUG pullers in the crypto space. If I own a can of coke, does that mean I own shares or have a contract with coke a cola, NO, does coke own a lot more coke than me, yep....

If the SEC win this case, then anything and everything could be classed as a security and WE would ALL have to become securities registered, just in case THEY deem whatever you maybe holding a security :(

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5 hours ago, Julian_Williams said:


Here's the thing - its neither laughable nor genius. The sec just keeps pace with what rewards them as long as they are allowed to. The only laughable thing is their twisting arguments and unfair game not being restrained and called out by the court. 

But theres no genius in staying the course when it proofs to be successful. They just do what lawyers usually do. 

 No lawyer fights for the truth but for the best possible outcome. They are bending the boundaries as much as possible to fit their argument - Thats nothing new at all. 

Im prepared for the emails not going to be helpful to ripple. Maybe she ordes the sec to hand over parts but probably without the juicy stuff (or it being redacted) due to A/C privilege.

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He got me at "We don't play games at litigation" ...

The last filing is irrefutably classifiable as gamesmanship. ... "person views" but not in a "personal capacity"!?!? Personal opinion delivery of the speech, but not for its compilation?!?! ... 

Don't get too upset about it all, @HAL1000 ... 

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