Tesla has been under siege lately (what else is new?) by the SEC and rightfully so.
It’s looking like a planned takeover.
Tesla CEO, and everyone’s favorite villain, (F)elon musk, has been publicly giving the SEC the finger ever since they put him under investigation for illegal trading.
It’s pretty obvious what’s going on here.
Conman musk is not an idiot.
He knows Tesla is going bankrupt and he doesn’t wanna be in charge when it happens.
He WANTS to be forced out, so he can blame “the stupid SEC” for destroying the future of mankind.
It’s like planned martyrdom/suicide, and gives Musk an excuse.
“The SEC shut me down.”
Wall Street has never off loaded a bigger fool onto the public than this guy.
And the financiers never seem to be stuck with any leftover inventory.
It’s amazing how stock prices stay up until those in the front row are given a chance to leave the theater. (hint! hint!)
Here’s the problem.
The SEC has no teeth and are impotent.
They have known for years how Musk has been cooking the books…and let him get away with it.
They have to.
It’s taxpayer’s money at stake, not the Congress Critter’s money, and the taxpayer always gets screwed.
This whole push for electric cars was a crony capitalist scheme in the first place, hatched by certain Congress critters to enrich themselves and their friends.
Anything launched by Congress getting involved (in the private sector) is always a loser.
The false bravado has begun with the SEC pounding their chest as evidenced by the Probes Reporter quote below:
“The SEC FOIA experts at Probes Reporter said that the agency’s contempt motion response shows that they are “playing for keeps” and will “crush Musk if needed”.
Good luck with that.
If you own Tesla stock, we want to remind you what happened to GM when the govt. took over them.
You can’t say we haven’t been warning you.