Category Archives: S.E.C.
Possible Fake News Tesla Tweets
Elon Musk tweeted that he wants to take Tesla private and has $70 billion in backing to do it. Tesla shares jumped 10% on the news. But now that the S.E.C. is on his case for possible fake news Tesla tweets the stock is back to ground zero.
Tesla Autopilot Crashes
I got to drive a Tesla once. It was cool. Like driving one of the HO slot cars I had as a kid.
But I think I’d be queasy about letting the car drive itself. There are those who say it’s a great innovation. Like speed control on steroids. But the car can kill.
Tesla Autopilot Crashes
The WSJ reports Tesla is being investigated by the SEC for not informing shareholders of a fatal crash involving its autopilot system.
Update:
Daily Beast says Tesla is misleading about autopilot safety. If you don’t brake it’s your fault because your weren’t paying attention. If you do brake it’s your fault because you were driving.
Holman Jenkins says the autopilot feature has been around since 1995. It’s basically cruise control and the driver still has to pay attention.
Eric Holder’s Wars
Eric Holder’s Justice Department sued Standard and Poor’s for giving bad advice. That bad advice consisted of high ratings the company gave for mortgage backed securities leading to the 2008 meltdown.
Jack Lew, the president’s nominee for Treasury Secretary, worked for Citigroup’s subprime department during the time leading up to the 2008 meltdown. Lew was rewarded with a nearly million dollar bonus following Citigroup’s government bail-out.
In an effort to divert attention from Lew (okay I made that up), the White House released Justice Department documents justifying the killing U.S. citizens without judicial review. I didn’t make that up.
Wall Street’s Fat Finger of Fate
The Dow plunged 1000 points yesterday and bounced back 500 in about 20 minutes. Some experts suspect someone pushed the wrong button.
Short Shorts
Holman Jenkins says the subtext of yesterday’s Senate panel grilling was that it’s unpatriotic not to lose money when home values plummet.
