As someone who has been targeted by mean-spirited attacks from the site run by the subject of this article, I’m not surprised at all by this revelation about the co-author of Markos Moulitsas “Screw Them” Zuniga’s book: Shill to Hack. (Hat tip: Killgore Trout.)
June 18, 2006 — Jerome Armstrong, the political strategist who followed a famous Internet fundraising effort for Howard Dean in 2004 with a book on “people-powered politics,” has a sordid past as a shill for a worthless dot-com stock.
Armstrong, 42, touted a dubious Chinese software company, BluePoint, beginning in 1999, without disclosing that he accepted “below-market” shares in exchange for the glowing reports he posted on a site called Raging Bull, according to a 2003 civil suit that named him as a defendant.
“Armstrong posted over 80 times on the BluePoint message board located on the Raging Bull Web site in the first three weeks [it traded],” reads the complaint, filed by the Securities and Exchange Commission.
At no point in any of the 80 posts did Armstrong disclose he was paid for the service, the suit alleged. In fact, The Post has uncovered hundreds of Armstrong posts from 1999 to 2003, many supporting now virtually or entirely worthless stocks.
Armstrong denied to The Post that he did anything wrong and said the SEC made a mistake in charging him. “This was a long time ago and I settled the case without admitting or denying guilt, and I paid no fine,” said Armstrong, who refused to comment further.
Armstrong signed off on a settlement of the charges on Dec. 16, 2003, barring him from touting securities. In addition, Armstrong agreed never to deny any of the SEC charges. It was not immediately known if his statement to The Post denying guilt would violate the settlement agreement.
Considered an authority on political blogging and ‘Net campaigning, Armstrong’s MyDD.com is a trendsetter in liberal circles. A frequent subject of glowing media profiles on the growing role of the Internet in campaigning, Armstrong now directs Internet strategy for 2008 presidential hopeful Mark Warner.
The sharp partisan flair Armstrong shows on his blog was apparently honed in bitter message-board fights, where he was known for his attacks on those questioning the stocks he touted.
Floyd Schneider, a New Jersey mortgage broker and investigator of penny-stock scams, said he was a repeated target of Armstrong’s attacks because he criticized the finances and business models of firms Armstrong supported. “[Armstrong] was among the nastiest and ugliest stock touts from that era,” said Schneider. “The stocks he touted were dogs and rigged, so it makes sense that he had a deal with promoters.”
The Kos Kidz cry, “Say it ain’t so, Jerome!” Daily Kos: NY Post: Jerome is a crook.