"Punishing fraud, whether it be common law fraud or securities fraud, simply does not violate the First Amendment."
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Yesterday we noted how Porter Stansberry had decided to start a legal action against your humble scribe and his humble corner of cyberspace because we've said some nasty things about him. And Frank Porter Stansberry (can I call you Frank? Thanks!) doesn't like that.
Interestingly, this is the very same Frank Porter Stansberry that was found guilty of securities fraud by the SEC and fined U$1.5m. Which he appealed and lost. So when he lost his appeal he decided to take it to the Supreme Court claiming protection under the First Amendment, freedom of speech and all that. Of course the Supreme beaks laughed the case out of its hallowed halls by stating the extremely obvious:
In other words the person you know as Porter Stansberry just loves all that Free Speech concept when it suits him, but as soon as something gets printed about him that makes him feel all squirmy and icky inside it's time to sue. That, ladies and gentlemen, is how hypocrites operate and that's what Frank Porter Stansberry is, a simple hypocrite.
To sum up, we now know three things about Frank Porter Stansberry:
1) He is a securities fraudster. Proven and convicted, case upheld by the highest court in The United States of America.
2) He's a hypocrite when it comes to the cherished American right to free speech.
3) But we also know that he likes to waste his money on legal stupidities that don't stand a chance in the court of law, which brings us to our final point today. IKN can assure its readership that the Stansberry case against IKN isn't going to prosper. His lawyers know that proving actual malice on this one is nigh on impossible and the whole thing is nothing more than a big fat exercise in bullying (but his lawyers will collect a few billable hours off him before they explain the problem, they're laughing at you Frank). What's up Frank, did you think you could throw a case at me then get me to cower and remove a whole bunch of posts with your name on them? Think again, Frankie.
Labels: porter stansberry