New book says Dykstra touted bogus stock, admitted to PED use

There never seems to be any rhyme or reason as to when it happens, but those of us in the blog biz have become accustomed to times when the flow of outrageous Lenny Dykstra news measures heavier than usual.

This week, we can place the blame on the attention-grabbing Nails headlines on Tuesday's release of Randall Lane's "The Zeroes: My Misadventures in the Decade Wall Street Went Insane," which features Dykstra as a famous character.

Mr. Lane, it seems, had the misfortune of being involved in Dykstra's ill-fated magazine venture, but the fortune to be able to live to write a book about it. What's more, he has at least two headlines guaranteed to generate press:

• On Monday, Lane wrote an article on The Daily Beast that detailed how Dykstra — in his short life as a Jim Cramer-endorsed Wall Street wizard — accepted $250,000 worth of penny stock on the condition that he'd tout his holdings to the investors that were following his advice.

• On Tuesday, Lane and TDB ran a excerpt from "The Zeroes" that revealed Dykstra had admitted to taking performance-enhancing drugs during his baseball career.

"You know," Lenny finally said, breaking the ice, "I was like a pioneer for that stuff."

"Excuse me, Lenny?"

"The juice. I was like the very first to do that. Me and [José] Canseco."

I'd be hesitant to label either alleged item as "news" as the most important ingredient in "news" is usually that it's "new." (And as a former editor of mine once said: "This ain't.") No one is really surprised to find out that Dykstra's ethics or morals were that low.

However, I do find the allegations interesting as separate hailstones in the never-ending storm that Dykstra's new life has become. In his brief brush with Wall Street fame, he crossed a lot of people and left even more in the lurch. A lot of them worked in media and my guess is that we're only starting to see the beginning of the revenge by those who can still buy their ink by the barrel (or Internet bandwidth by the gigabit, or whatever, you get my point.)