SEC says expanding rumor crackdown

Discussion in 'Wall St. News' started by moneymonger, Jul 13, 2008.


    My question is this: Where is the fine line between what the Gov. considers "rumor" and the right to make an opinion on a stock in
    an open forum? It just may be that the concerns voiced about fnm and fre are justified. The free mkt will surely reflect this and
    exonerate these companies based on the facts. It does seem that the US GOV. is beginning to resemble the Chinese Politburo.
  2. Bowgett


    Do you have any idea how legal system in US works?
  3. Sure, we have a first admenment right to express ourselves,
    and this includes opinions about stocks. I'm not dismissing wholesale that a crime was committed here. But the Gov's broad
    edict regarding what it considers "rumor" warrants scrunity
  4. what about the rumors that make a stock go up.I bet you'll never see a case brought up for that.

    The govt can be so gay at times.

    Remember the color coded terror alert levels. :p
  5. Oh the irony :

    "The examinations "are aimed at ensuring that investors continue to get reliable, accurate information about public companies in the marketplace," SEC Chairman Christopher Cox said in a statement.

    The Securities Industry and Financial Markets Association applauded the move and said it supports the "vigorous enforcement of existing regulation to ensure the integrity of our markets.""

    The Fed are the biggest manipulators of all.

  6. if the SEC cracks down on rumors, CNBC would be off the air
  7. The Fed, apparently, has seen internal developments in our financial sector that are very serious. Otherwise this edict need not be issued.

    Just a word to the wise.
  8. This article says they (Fed) are in a hurry to get this out before Asian markets open today lol.

    Gee---think they're worried about a crash lol??
  9. It's because we're seeing classic runs on the bank not seen since the early 1900's. This means the current financial system is worse than I thought. If the fed has to come in and crack down on rumors, banks must be in some deep shit. Because in a normal well functioning market, runs on a bank won't happen.
  10. Psst...have you heard the rumor that C and BAC have huge amounts of level 3 debt and stacks more MBS and credit card bad debt piling up.

    Pssst....I bet their stock prices drop in the coming weeks...Psstt....SHORT THE HELL OUT OF C and BAC.....

    Pssstt....SEC if you want to look at the real villains you better start looking at the big volume players profiting on both sides....GS.
    #10     Jul 13, 2008