Patrick Byrne, Under SEC Investigation, Featured As Panelist On Fox Business Network

For those of you who aren't aware that there is this thing called a "Fox Business Channel" which tens of Americans watch everyday, most believing that they are tuning into FearNet, well... there's a Fox Business Channel. And if you were lucky enough to be, say, trapped under a heavy piece of furniture in your own home, and unable to reach the remote to change the channel, you might have seen a segment on SEC regulations, featuring Patrick Byrne of Overstock.com. Byrne was touted as an expert on the matter, as well he should be, considering the fact that he and his company are in the middle of an SEC investigation. Not that this was disclosed!

Take it away, William Wolfrum!

Byrne was his typical, charming self. He invented a story about an anonymous "friend's" dealings with the SEC. He managed to mention Overstock.com's official media arm "DeepCapture." He again claimed SEC officials are, or were, on the take.

What Byrne - and the Fox Business anchors - didn't mention in this probing interview about the SEC? That Byrne's company, Overstock.com, has been subpoena'd by the SEC and is being investigated on Overstock's previously-announced restatements of its financial statements in 2006 and 2008 and other matters. It is the second time in three years Byrne and Overstock have been investigated by the SEC.

WATCH:

Quoth Joe Weisenthal: "For all CNBC's problems, this is the kind of bush-league move it would never pull."

RELATED:
Overstock's Patrick Byrne Shows Up As SEC Expert On Fox Biz [Clusterstock]
Come to think of it, Fox Business Network isn't much of a business network [William K. Wolfrum Chronicles]

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Comments

[John Horner]

01:35 AM on 10/24/2009

Year ago Byrne made himself infamous for blaming short sellers for the troubles at his company. Too bad he didn't stick to the knitting of building the Overstock.com business. Once upon a time it was a contender. Now it is kind of a joke.

[up420oz]

07:24 PM on 10/23/2009

Here is my plan for fox.

On MSNBC, have the entire line up use the exact same method of news generation on a single day. Have it announced the day before and through the broadcast day.
Make the stories as outlandish as possible. Do the same as fox, start the story as an opinion piece, and then ask it as a legit question during a news segment.
The following day, see what the reaction is.

[unitron]

07:21 PM on 10/23/2009

Of course he's an expert on SEC regulations.

Just like Willie Sutton was an expert on banking. : - )

[jordan327]

02:36 PM on 10/23/2009

Wow, six comments!!!! No pay check for this crap.

[HST]

02:05 PM on 10/23/2009

Jason do know that by saying bad things about Fox news you are acting like Nixon and making an enemies list? Lamar Alexander wants a word with you. Morning Joe and Eric Cantor want you to apologise to Fox ASAP.

[ibsteve2u]

01:52 PM on 10/23/2009

And yet there is another story on HuffPo (http://www.huffingtonpost.com/2009/10/23/white-houses-fox-news-boy_n_331437.html) that speaks of the other networks' eagerness to be Fox's enablers...

Makes you wonder about America's future.

[ToHoJo]

04:54 PM on 10/22/2009

The Hedge funds affiliated with Jim Cramer & CNBC personalities have been trying to sink him for years, check out deepcover, nake d short selling, and phantom stock for a truly fascinating story.

[whiskeytangofoxtrot451]

04:53 PM on 10/22/2009

Maybe Byrne can next appear on Fox "News" with Ollie North and G. Gordon Liddy and talk about ethics.

[Greg Petty]

12:40 PM on 10/23/2009

Faux news, has people that are regular panelist that are under SEC investigations as we speak, they are on FAUX,FOX business shows, go figure, I do not care what network news stations do, however they should report the news not try to be the news, by cranking up edited interviews, interviews that clip words to fit their slant,pay for astro turf , gatherings, get caught with their employees inciting people to misbehave on film . Ido not care what party or group,they criticize,just report the news as it is,let people make up their own mind.

[Jacksonian]

04:27 PM on 10/22/2009

And they wonder why the White House questions their journalistic creds...

[sheaintsayin]

03:51 PM on 10/22/2009

All over - lock, stock and fox