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Another echo from the dot-com bubble burst

Former New Yorker, now a San Diegan, ordered to pay up

Rendering of the NASDAQ Composite index from 1994 to 2005
Rendering of the NASDAQ Composite index from 1994 to 2005

The dot-com bubble, considered one of history's most malodorous stock market runups/rundowns, began around 1997 and lasted until March of 2000, when wildly absurd valuations peaked and the bubble burst. During the bubble period, a company only had to attach .com to its name — say, Horsemanure.com — and the stock would zoom.

But justice hardly moved as rapidly as those stocks. In September of this year, San Diegan Anthony Knight was told by a New York federal judge to pay $5.33 million for his role in a Long Island–based dot-com named iShopNoMarkup.com. His transgressions were committed between fall of 1999 and summer of 2000. According to the Securities and Exchange Commission, Knight and others offered unregistered securities to 350 investors who had put in $2.3 million.

The securities agency first made its charges in 2004. Ten years later, a jury ruled in favor of the agency. It took another year for a judge to render his judgment. Knight had lived in Great Neck, New York, at the time of the stock runup but later moved to San Diego. Knight also goes by the name of Ali Haghighi.

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Rendering of the NASDAQ Composite index from 1994 to 2005
Rendering of the NASDAQ Composite index from 1994 to 2005

The dot-com bubble, considered one of history's most malodorous stock market runups/rundowns, began around 1997 and lasted until March of 2000, when wildly absurd valuations peaked and the bubble burst. During the bubble period, a company only had to attach .com to its name — say, Horsemanure.com — and the stock would zoom.

But justice hardly moved as rapidly as those stocks. In September of this year, San Diegan Anthony Knight was told by a New York federal judge to pay $5.33 million for his role in a Long Island–based dot-com named iShopNoMarkup.com. His transgressions were committed between fall of 1999 and summer of 2000. According to the Securities and Exchange Commission, Knight and others offered unregistered securities to 350 investors who had put in $2.3 million.

The securities agency first made its charges in 2004. Ten years later, a jury ruled in favor of the agency. It took another year for a judge to render his judgment. Knight had lived in Great Neck, New York, at the time of the stock runup but later moved to San Diego. Knight also goes by the name of Ali Haghighi.

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Comments
24

So his name is Anthony Knight, but he goes by the name Ali Haghaghi. Just what is his ethnicity/nationality? Those names just don't seem to go together.

Oct. 1, 2015

Visduh: He goes by the name Anthony Knight but he is also known as Ali Haghighi. I don't know his nationality. Best, Don Bauder

Oct. 2, 2015

I heard somewhere that his original name was Al Rob Yu.

Oct. 2, 2015

ImJustABill: His relatives call him Cousin R. Best, Don Bauder

Oct. 2, 2015

Hmm, I'm still trying to figure that one out.

Oct. 2, 2015

ImJustABill: It's the word "cozener." Not a good pun, I confess. Best, Don Bauder

Oct. 2, 2015

It was actually a good pun; I was being slow...

Oct. 2, 2015

ImJustABill: I beg to disagree. It was a bum pun. I should check my puns before I send them: I should be punctilious. Best, Don Bauder

Oct. 3, 2015

THAT is an IMPEACHYABLE offense!

Oct. 3, 2015

Twister: You are plum loco. Best, Don Bauder

Oct. 3, 2015

You must have the -motive.

Tw

Oct. 3, 2015

Twister: Now I am the one who is puzzled. Expatiate, please. Best, Don Bauder

Oct. 4, 2015

Justabill: Yeah, I had to go to the dictionerry too; Bauder ain't all bad . . . at least he impishly betters my vocallabulary with multy-sillyabull werds. IF I can remember to show them off enough to get them to stick in my lumpin', bumpin' brane, maybe I can get a job so's I can afford to live in San Diego so's I don' have to join Don in the frozen North.

Justatwister (Regis Patoff)

Oct. 3, 2015

Twister: OK, you got me: who is Regis Patoff? If it is a pun, please explain. Best, Don Bauder

Oct. 4, 2015

Petty theft compared to some.

Tw

Oct. 2, 2015

Twister: Yes, this probably wouldn't have been an item if it hadn't taken the government 15 years to get the guy. That's what makes it man bites dog. Best, Don Bauder

Oct. 2, 2015

Of cur-se!

Oct. 2, 2015

Twister: That reminds me of a line by a great comedian of yore. He would tell his audience of an extremely valuable bit of jewelry, the Kaufman Diamond. "Like the Hope Diamond, it is cursed" the comedian would say. "The curse is Mr. Kaufman comes with it." Best, Don Bauder

Oct. 2, 2015

The perils of Pollyana-ing capitalism. The old, long-lost paper I did in economics on capitalism and the Fed in about 1965 (previously mentioned on this blog) traced the emergence of capitalism from a gift-centered (dynamically stable) culture to a hoarding (runaway acquisition) one and money as a means of control/enslavement where "virtual" illusion Trumped substance just might apply here. Being a vet in college for the second time and kind of WWIII-shocked, I dumped it when the economics prof was luke-warm and the comparative government prof suspected me of plaigarism. I was a contradiction at the time--a rebel just out of a highly authoritarian organization. Now, in my sunset years, I am beginning to wonder if maybe I was onto something. If so, it never will be popular. But then, I never was much of a salesman.

Tw

Oct. 2, 2015

Twister: I remember that you explained your paper on capitalism but I don't remember the details. Why don't you give a summation again? Best, Don Bauder

Oct. 3, 2015

Another bad pun / interesting business name:

I find it odd that there is a major bank called "Rabobank" - sounds a bit like "Rob a bank" to me. I don't think the Dutch translated too well.

A famous bad name when translated was the Chevy Nova (No va = no go in Spanish)

Oct. 4, 2015

ImJustABill: General Motors should have known better. But what would have been the likelihood of that? Best, Don Bauder

Oct. 4, 2015

A whole discipline called anthropology is dedicated to understanding the differences between cultures, and linguistics is dedicated to understanding language, with semantics and phonetics attempting to tease out subtleties of meanings. A hilarious book could be written or compiled on the odd contrasts discovered therein.

If only "administrations," so stupidly obsessed with their supposed omniscience that they refuse to pay any attention to those and other disciplines when it comes to dealing with other cultures and complex professional matters, places like the "Middle East" would not be falling apart, we would not be ineptly squandering billions on impotent “measures” to deal with wildland fires, and our own culture would not be coming apart at the seams. Our culture is suffering the same fate as our neighbor to the south, were drug kingpins murderously rule in open contempt for the social mores that have been the glue that has held that and other cultures together for so long. This is the Age of the MBA—dominance of the experts of nothing in particular.

We have to re-learn disciplined thinking.

Oct. 4, 2015

Twister: The surfeit of MBAs is a symptom of the problem. The actual problem is insatiable greed. Best, Don Bauder

Oct. 4, 2015

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