Political shakedown: SEC gunning for Elon Musk, seeking sanctions against majority owner of X

By
Suzanne Downing
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43
Elon Musk

The U.S. Securities and Exchange Commission said Friday it will pursue sanctions against Elon Musk after he did not appear in front of the commission tribunal scheduled for the agency’s investigation into his $44 billion purchase of Twitter, now called X.

In a nonscientific poll conducted over two days, readers of Must Read Alaska this week predicted by a large margin (82% to 18%) that if Kamala Harris becomes president, she’ll have the Dept. of Justice shut down X and prosecute Musk for “misinformation” or “hate” speech”? Those readers may have been prescient.

The SEC said in Friday’s court complaint that Musk should be held in civil contempt for not telling the SEC until three hours before a scheduled Sept. 10 tribunal that he would not appear.

The SEC is trying to prove that Musk broke securities laws when he bought a majority of the stocks that make up X. Jack Dorsey, the prior majority stockholder, who supported liberal candidates and causes, has not been investigated for selling the stocks to Musk. He operated the company with a different style, suppressing conservative voices as a business model.

Musk wanted to obtain the majority shares of the company because he said it was not living up to its potential as a platform for free speech.

Musk’s legal team said the sanctions constitute a drastic reaction by the SEC since Musk’s testimony had already been rescheduled for Oct. 3.

43 COMMENTS

  2. So Dorsey and the CEO’s of Facebook, Amazon, Google, etc… are all immune because they are diehard leftists? The so-called regulators, in their bubble, are apparently so detached from reality they can’t see how blindingly obvious the corruption is. Its the same arrogance we saw in the prosecutors of Trump. History is replete with this kind of fascist, totalitarian corruption.

    • They’ve been attacking A LOT of people who are standing up to them. Musk, RFK, Jr., Tulsi Gabbard, Russell Brand, just to name a few.

      • Indeed Mr. Martin, indeed. However, the first battle is in the heart of every man (including females). We must overcome our fear of tyranny to be bold patriots in defense of those words our founding fathers wrote on that parchment we call our constitution….. in defense of the Word of Yahweh Himself.

        “Give me liberty or give me death”–Patrick Henry

  3. “The SEC said in Friday’s court complaint that Musk should be held in civil contempt for not telling the SEC until three hours before a scheduled Sept. 10 tribunal that he would not appear.”

    Translation: “Vee are you overlords, and you vill appear before us when we say you will!!”

    The Communist Deep State is now claiming that the 1A is a threat to Democracy.
    Of course, what they really mean is that it is a threat to the Communist Deep State, which is why they are all working to eliminate it.
    They’ve already eliminated it in the UK, and Commies in the U.S. are working frantically to catch up with Starmer and Trudeau.

  4. Elon paid $44Billion for Twitter, a $15 Billion company and has now reduced the market value of X to $5 Billion. The SEC is following laws established by Congress before Harris was in Congress. Elon is now in a Bromance with the far right. Trump will promote Elon to a Broligarch if elected. Trump will be playing golf and fighting lawsuits with his own money next year and Elon will still be the richest dude on the planet.

    • Frank – apparently in your lexicon “Bromance with the far right” means he hates to have government suppressing speech of its political opponents thru private companies, I agree with you completely.

      He still makes EVs if I recall, and the twitter files, that uncovered all of the foolishness of the public-publically traded company attempts to differentially suppress speech that Bari Weiss (a married jewish lesbian, mother of two, whos also a hell of a reporter) helped break the news on.

      Yeah, with businesses and associates like that, he’s definitely far-right.

      Don’t question your masters man, just keep spewing the left wing talking points. Its a lot easier than thinking.

      • Elon can say anything he wants and the SEC will do their job. The fact remains, as it is in the SEC filings, Elon turned $44 Billion Twitter into $5 Billion X. Elon now wants to manipulate Trump for carte blanche permission for satellites in low orbit and X Financial services to get his $$$$ back

        • Frank, know what’s cool? Cool is someone who is an independent, strong minded free thinker who will not bow prostrate before the totalitarian authorities seeking permission to do what is rightfully his to do. You see Frank, your right to free speech isn’t granted to you by the Government, it is an inalienable right, one granted to you by the Creator.

          Thumbnail sketch for ya Frank, there is an age old contest, one between the GOD KING-slave men of the East and the FREE MEN of the West. This struggle goes back to the Greeks and their struggle with Persia. Presently we are seeing this conflict enacted by a slightly different set of players, ones who disavow the notion that there is a CREATOR entirely. This current model of God King- slave men is founded on the premise that GOVERNMENT is GOD. It is GOVERNMENT that grants you your rights. sadly Frank you and far too many folks have swallowed that Kool-Aid.

          In our lifetime Communism represented the God- King slave man model, only recently however in our country it’s been replaced by a glitzy Kommiela incantation. This novel concept holds all of the abuses of the previous GOD KING models wrapped up in an air head package which is unburdened by what has been…

          Think Frank, while there still is time! Goodness, if you are incapable of thought at least read an Ayn Rand novel to get a clue! I’m pulling for ya! We are all in this thing together.

        • 1. X is a privately held company, over which SEC has no oversight authority.
          2. According the SEC’s website, “regulates the offer and sale of all securities, including those offered and sold by private companies.” They regulate “offers and sales.” I’ve read nowhere of any intention of Mr. Musk to sell off this platform.
          3. If the value of Twitter fell from $44bn when Mr. Musk bought it, to $12.5bn (which is what I can best discern) as his own private asset, what business of the SEC is that? And, you, apparently, have missed an opportunity jump up and down 💖💕🤡”with Joy!” 🦄🎈🎉💟

          Take a breath…

        • It’s interesting that George Soros just bought 200 US radio stations and completely bypassed the SEC rules. Not a peep from your peeps on that one?

    • If it was really non-political and following the law, why do you mention the far right? Either the SEC is following their laws and regulations, or the far right is a factor into it. Cannot be both.

  5. Good for Musk.

    One thing about going after Musk. He has more money than most nations. Push him hard enough, he and his money go elsewhere.

    And he’ll keep on doing what he’s doing now. Out of Kamala’s jurisdiction.

  6. I love that Elon Musk has taken control of “X”
    He clearly knows what he is doing and some people will try to threaten to basically take him to the wood shed because he doesn’t back down!🇺🇸

  7. Where did the SEC get authority”? Was it expressed plainly in English in the US Constitution? Go find it. I’ll wait. Or, did it bequeath its authority to itself? We don’t let people themselves kings in the United States of America, typically.

  8. Our country has become so deeply corrupt. The ‘regulators’, the SEC, are all deep state mindless puppets of the bigger evil.

    • Elizabeth, well said , Martha Washington of today. Lady Washington consistently shared her husband’s political beliefs. She strongly supported his role in the ” Patriot ” movement and his work to advance his beliefs in the cause. Thank you Ms. Henry !

      • Doug
        Yes the feds have stepped on everybody but the politicians for wrong doing.
        We have a two tier judicial system mainly used against the conservatives. The department of justice is the department of control and they’re trying to control Elon and everything he does because he’s against the left so yes, he had to take his businesses his SpaceX and all and move out of America.

      • Ed I stand for equality injustice. The current regime seems to be after everybody that does not agree with their views and using the department of Justice to get them that’s not equal.

  11. So they attack America’s Modern John Hancock , Freedom is never a dying endearment…Remember the Battle at Lexington. General Washington said when ask by Samuel Adams what to do about repressions in Boston. Washington said build your own army then resist….Bravo Elon! I am with you . Liberty Ed Martin Jr

  12. Elon Musk is being attacked not just for political but mainly for business reasons. HIs ability to place assets in orbit has made NASA and its contractors look like a pack of fools. Then there is the USDA and others who have tossed billions to the telecoms for “broadband”. In some cases in Alaska this amounts to over $100,000.00 per connection. Starlink can do it for $500.00 and requires no expensive installation. Musk and Starlink have done more for rural Alaska than all the telelcoms and spsendthrift windbag politicians combined. Now that he is beginning to lauch the direct to cell satellites you are really going to see some screaming from the telcos. Understanding this persecution is a classic case of follow the money.

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