Former Crazy Eddie CFO and sometime Overstock.com (NASDAQ: OSTK) critic Sam E. Antar has posted an item on his blog accusing that company of a "stock market manipulation scheme."

Read Overstock.com and Patrick Byrne: Anatomy of a Stock Market Manipulation Scheme – First Quarter Earnings Release here.

In the post, Antar alleges that the first quarter earnings press release issued on Friday was "intentionally timed with expiration of options to manipulate the market (i.e., as a "short squeeze") and to bury and downplay grave news of a criminal investigation in California."

Analyzing the company's numbers, Antar points out that the company's revenue from its auction business declined more than 44% year-over-year, in spite of CEO Patrick Byrne's claim as recently as January that "things look better from here" for the auction site.

Antar accuses the company of violations of SEC rule 10b-5: interesting given that the company is currently the target of an SEC investigation.

Here are a few of my past posts on the company that one securities lawyer affectionately refers to as OverSchlock.com:

Shop at Overstock, Support Cyberstalking.
Patrick Byrne, Hypocrite
Patrick Byrne Defending USXP Fraud?
More Goofy Press Releases
Byrne overpaid at $0?

The indefatigable Perez Hilton has built a bigger career out of blogging than anyone else I can think of. Starting as just a regular guy blogging about celebrities from his bedroom, Mr. Hilton -- whose real name is Mario Lavandeira --has turned PerezHilton.com into the 752nd most visited website in the world, according to Alexa. And he's done it with semi-literate commentary on celebrity gossip, writing words like "busted" and drawing "<3s" on photos of stars. I say this, by the way, as a huge fan of his site. Then he parlayed that into a show on VH1 and now, he'll be hitting the airwaves with a twice-daily, three-minute celebrity update, launching in major markets soon.

This is perfect. Perez Hilton would likely be overexposed with a full radio show -- he just isn't that talented. But he'll be funny for about three minutes, driving tremendous traffic to his site.

According (subscription required) to the Wall Street Journal, "Mr. Lavandeira said he draws inspiration from other celebrities who carefully cultivate public images and business deals, such as Paris Hilton."

Given all the traffic he generates, I wonder how much one of the big media companies would pay for his site. Alternatively, I would absolutely kill to see a Perez Hilton IPO.

Naked short selling whiner Biovail (NYSE: BVF) has settled accounting fraud charged with the SEC, agreeing to pay a fine of $10 million. According to the SEC's complaint:

The SEC's complaint alleges that present and former senior Biovail executives, obsessed with meeting quarterly and annual earnings guidance, repeatedly overstated earnings and hid losses in order to deceive investors and create the appearance of achieving earnings goals. When it ultimately became impossible to continue concealing the company's inability to meet its own earnings guidance, Biovail actively misled investors and analysts about the reasons for the company's poor performance.

The SEC adds that former chairman and chief executive officer Eugene Melnyk, former chief financial officer Brian Crombie, current controller John Miszuk; and current chief financial officer Kenneth G. Howling still face charges.

Biovail's allegations of a naked short selling conspiracy and menacing antics intimidated analysts, convincing Banc of America Securities, which had been negative about the company, to drop coverage of the stock. On his blog, financial journalist Gary Weiss writes that "Despite all the post-Enron rhetoric about the sanctity of independent analysts, the SEC has done woefully little against companies like Biovail and Overstock that want analysts to be obedient little puppies."

It seems like every few weeks, another naked short selling poster child is exposed as a securities fraud. Back in 2006, then-CEO Eugene Melnyk told 60 Minutes that "When you've got these companies, these people out there trying to bring you down, we're lucky we survived."

Moral of story: when a company starts complaining about naked short sellers conspiring to drive down the share price, sell the stock and ask questions after.

Even though I just recently started blogging in October 2007-- after I closed my hedge fund -- I first began to understand that there was some real money to be made when Jeremy Schoemaker of Shoemoney.com posted THIS picture of a check for $132,994.97 from Google Inc. (NASDAQ: GOOG) as his AdSense income in August 2005.

Later that year, John Chow of JohnChow.com also started blogging about ways to make money online and now he, too, regularly earns $30,000 per month from blogging, all broken down and detailed on his site. Since my monthly blog income on my own personal blog is just a few thousand dollars, I decided to ask John Chow for some pearls of wisdom, here's the interview:

1. What have been some of the keys to your success?

I think one of the biggest reasons for my blogging success has been consistency. There has never been a single day that has gone by where I did not have a new blog post for people to read. One of the biggest mistakes a new blogger makes is by being an on again off again blogger. You can't build a blog this way.

Another key is just being myself. I show the good and the bad and let the chips fall where they may. A blog is not CNN or News.com. Your readers are there to read your opinion. You should give it to them instead of just giving the news without an opinion.

I often spend a little time over at Blogmaverick.com, where Mark Cuban recently sought to give the world of blogging a little of his insightful perspective. It seems that Mr. Cuban finds little to respect in the world of blogging, or at least in the world of slipshod ,cookie-cutter blogging. Though I found Mark's blog entry a trifle difficult to read, which is quite unusual coming from him, I nonetheless agree with most of the body of his post. I especially agree with his assertion that just because a blog is backed by the name of a well-known media organization does not in itself render that blog worthy of special notice.

Mark Cuban wrote, "...newspapers having 'bloggers' is easily one of the many bad decisions that newspapers have made over the past 10 years." If newspapers are going in a wrong direction by producing blogs, perhaps they need to reinstall the title reporter and drop the title blogger to give a different perspective to the reader. If newspapers are using the term blog simply as a culture hook, then they have it all wrong and they're just selling their reporters short. I believe that I'm in agreement with Mark Cuban when I say that true reporters should be releasing content within some format other than blogs. Blogging is what I do, and I'll be the first to tell you that I'm no reporter. The titles are absolutely not interchangeable, though they may sometimes be used correctly in tandem.

It was just an average Wednesday night for me-researching potential stock plays, working on some blog posts and catching up on many overdue emails, all to further my goal of becoming Cramer 2.0-when I saw a post on EliteTrader.com that linked to The Smoking Gun exposing Governor Spitzer's call girl "Kristen" as 22-year-old Ashley Alexandra Dupre. Apparently, Kristen was/is her professional name. Always one to jump when opportunity knocks, I raced to dig up everything I could on Ms. Dupre to post on my blog and break some news of my own. What happened next might or might not blow your mind.

Several websites had already linked to her MySpace profile (owned by News Corp. (NYSE: NWS) so I went there and grabbed her photos to add to my story. The other sites had used the photos, too, but the pictures were all tiny and spread out over multiple pages (no doubt to increase their hits and subsequently their Yahoo! (Nasdaq: YHOO) ads, so I saw opportunity in providing them all on one page just as they were. But I didn't stop there.

I also searched other social networks like Facebook and bingo, she had a profile there! That would be "my exclusive." A few more clicks and the post was published. Within minutes, Google (Nasdaq: GOOG) has indexed my article and while I was late to the party, my "Facebook Exclusive" made my story unique and the hits tumbled in. I'm used to 200-ish visitors/hour, but thanks to this one simple post, 1,500 people visited my site within the first 45 minutes. And that's when things got interesting.

With friends like Rush Limbaugh, John McCain doesn't need any enemies.

The conservative talk show hosts today denounced the New York Times' report on McCain's questionable relationship with lobbyist Vicki Iseman. During his 2000 presidential run, aides were so worried that there was a romance going on that they limited Iseman's contact with the Arizona senator, according to The Times account, which was backed up by the Washington Post. McCain and Iseman both flatly denied they had a romantic relationship.

Conservatives, who until now have loathed McCain, are rushing to his defense in the wake of the allegations raised by The Times, to them the symbol of all that is bad and liberal in the mainstream media.

Today's New York Times takes a look at Target (NYSE: TGT) and what can only be described as its arrogant attitude towards bloggers.

ShapingYouth.org sent an e-mail to the company, criticizing an ad Target was running that featured a woman lying on a Target logo with the bullseye centered on her crotch. Target responded by saying that, "Unfortunately we are unable to respond to your inquiry because Target does not participate with nontraditional media outlets."

Wow! That kind of arrogance reminds me of Wal-Mart (NYSE: WMT) -- isn't Target supposed to be hip and chic? You'd think it would be up on what a powerful force bloggers are becoming.

A policy of not responding to blogs makes no sense at all. Companies should respond to questions from any potential customer.

Target explained to the New York Times that the ad was a woman making a snow angel, suggesting that it wasn't meant to be provocative. From looking at the ad, and despite the retailer's attitude, I'm actually inclined to agree.

Target could have saved itself a lot of trouble by just writing back to the blogger, explaining the idea behind the ad. Instead, the company's PR team is now answering the same question from the New York Times, and wasting further time defending its asinine policy of not responding to blogs.

Over the years, I've used a variety of blogging platforms. So far, my favorite is WordPress, which is the mastermind of Automattic.

Today there's some good news for WordPress users -- the company snagged $29.5 million in a round of financing. The investors include Polaris Venture Partners, True Ventures, Radar Partners and the New York Times (NYSE: NYT).

And yes, the founding developer of WordPress, Matthew Mullenweg, has a blog post about the funding and the company's history. Keep in mind that there have been more than 5.8 million downloads of the software, with over 3.8 million in 2007. With such a base, the company has been generating a good amount of revenues (and now has about 18 full-time employees).

Writes Matt: "Automattic is now positioned to execute on our vision of a better web not just in blogging, but expanding our investment in anti-spam, identity, wikis, forums, and more -- small, open-source pieces, loosely joined with the same approach and philosophy that has brought us this far."

If you want to see other interesting venture capital investments, visit DealProfiles.com.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements.

Over the past few months, I've received a ton of emails asking what my favorite finance blogs are (other than BloggingStocks of course). So here are my top ten favorites:

(in alphabetical order or else I'd be killed by bloggers)

1. ChrisPerruna.com – the most well organized stock blog around, very useful analysis
2. Dealbreaker.com – if you want Wall Street gossip, this is where you go
3. FeedTheBull.com – an up and coming site where bloggers can submit articles and users can vote their favorites
4. HowardLindzon.com – one of the godfathers of stock blogging, a real pro investor focusing on stocks making new highs
5. pfblogs.org – a blog comprised of posts from 1,000 different finance bloggers, say good-bye to whatever life you had

Crocs (NASDAQ: CROX) was one of the best-performing stocks of 2007 until it hit the wall after releasing its September 30th quarterly results. The stock began 2007 at $20.68, ran up to a high of $75 and now sits at $45. The December, March and June quarterly results were spectacular, exceeding both top line and bottom line expectations. The company and analysts raised expectations for forward quarters and the hedge funds that were short the shares thinking the company is just "a fad", got annihilated.

The September quarter results were by all measure excellent as Crocs reported revenues of $256 million, up 130% from the previous year and earnings were up 144% to 66 cents per share. The consensus estimates were for earnings in the 63 cent to 64 cent range and revenue was expected at $253-$258 million. With revenue not "crushing" expectations, the stock was crushed, down from $75 to $32.

In spite of the stock coming down dramatically, many portfolio managers that missed the first run up from $21 to $75 had an excellent opportunity to begin buying the shares. Many have. The stock has rebuilt its value to the $45 level and is still inexpensive versus any traditional valuation methodology. Street expectations for earnings this year is $1.98 and $2.70 for 2008, a solid 35% growth. Revenue will come in this year at $830-$840 million and expectations for 2008 are set for $1.150 billion, again up 35-40%.

Sheila Bair, chairman of the Federal Deposit Insurance Corp., is suggesting that some critics of President Bush's subprime bailout plan may not exactly have the most altruistic motives.

Ms. Bair, who was appointed by President Bush in 2006, told the Wall Street Journal (subscription required) that "I do worry that some of the investors have taken short positions on the ABX," an index based on subprime-mortgage-backed securities.

Well isn't that enlightened. A lot of people have spoken out with intelligent reason in opposition the President's bailout plan. And now the chairman of the FDIC is saying, utterly without evidence, that some of these people have nefarious ulterior motives.

Here's the problem with Bair's "worrying": This issue should be decided on the merits, regardless of the motives of the individuals behind the arguments. Short-sellers will always be criticized for "bashing." But they're usually right. And if the critics of the bailout are making reasonable arguments, who cares if they're short?

It's a really sad commentary on how low the debate has fallen when the chairman of the FDIC is resorting to what is essentially name calling, rather than defending a position on its merits. Happily, some of our bloggers have made cases on the merits -- without resorting to name calling, and they mostly oppose the bailout.

Homeowner bailout sets lousy precedent
Bust mortgage rescue plan: Winners and losers
Our government's mortgage bailout madness
Proposed subprime bailout gives the shaft to responsible consumers

Just in time for the holiday shopping season, Stockerblog has released its list of 100 investment books -- the site adds that these are just the last 100 books the site has mentioned in the past couple of years, but if they're good enough to discuss, that's probably an endorsement of some kind. The list contains some classics and a lot of books you've probably never heard of.

Rather than rehash all the classics that every investor worth his or her salt has read, I'm going to give a list of a few of my favorite investment books that are either new but not bestsellers or long and forgotten. Click on the title for my review:

R. Foster Winans' Trading Secrets: This is a richly-written morality tale of sorts about the insider trading scandal that ruined Winans' career.

Rocky Mountain News finance editor David Milstead recently blogged about Maximum Dynamics, a Colorado Springs company that has come under the scrutiny of regulators. The SEC has filed a lawsuit against two former officers charging that they operated a scheme.

But not so long ago, Maximum Dynamics had some penny-stock players convinced that the company was a victim of naked short sellers and other miscreants intent on bringing the company down. In an 8-K released in July of 2005, the company wrote that:

Until the anonymous internet attackers are brought to justice, management is providing a warning to investors to rely on the company itself as the sole source of information regarding the company. (emphasis added)

The idea of relying on a company as the sole source of information is probably the worst investment methodology I have ever heard -- it's actually slightly worse than examining goat feces to try to predict the future.

As ex-con turned white-collar crime fighter Sam Antar writes, " Do not trust, just verify. Verify, verify, and verify." Relying on the company as the sole source of information was exactly what cost investors billions in losses at companies like Enron and Worldcom. Since the analysts were just parroting the companies' claims, listening to them would have done no good either. Only strong independent research by journalists like Bethany McLean and short sellers like Jim Chanos was able to penetrate the elaborate fiction concocted by scheming executives.

Moral of the story: When a company says "Believe us, not your lying eyes," don't buy the stock. If you own it, sell it. If you don't own it, it may be worth shorting.

Back in July, I wrote about network marketing giant Amway/Quixtar's self-imposed 120-day moratorium on recruiting in the United Kingdom, a response to a Department of Trade and Industry complaint against the company. Many critics charge that Amway is operating a thinly-veiled pyramid scheme, based on the same principles as the chain letter.

Well earlier in November, Amway blogged about its plans to return to the region, posting a memo that had been sent to directors and employees, and also forwarded to many of the company's United Kingdom distributors.

Here's where it gets interesting. Many people, myself included, have charged that the FTC is not doing enough to crack down on multi-level marketing companies using false and misleading recruiting tactics. based on the text of the memo, Amway seems to agree:

"The fact is, in the wake of this sobering experience, every one of us -- employees, IBOs, and others -- should renew our commitment to hold ourselves to the highest standards of behavior. The marketplace -- and in the UK, the government -- has made it clear that they expect no less. And when falling short of those standards exposes our company to such grave risk, there can no longer be any such thing as 'business as usual.'" (emphasis added)

In other words, the government of United Kingdom has made it clear that it will hold Amway to the highest standards of behavior -- but the United States has not followed the lead.

Perhaps Amway's massive political contributions have had something to do with that. it's a shame that our elected officials are putting the interests of special interest groups ahead of those of consumers. That's just business as usual in the land of the free, home of the brave.