To some, Theranos lawsuit shows scary side of buying stock in private companies

Discussion in 'Wall St. News' started by dealmaker, Dec 8, 2016.

  1. Sig


    Which was all reported per SEC regulations, you could have simply mimicked his buys which were publically reported and had pretty much the same gains. And I'd argue that the transparency was definitely there, if you followed those stocks it was common knowledge and very apparent how they were reporting their numbers, no-one was surprised by it. I'm no fan of Elon or at least one of those companies, but if/when they blow up it's not going to be because of anything that I couldn't tell you about right now. Again, it would have been a very different story just 20 years ago, so I'm not denying that these things aren't problems just pointing out the fallacy of this whole "the world is going to hell in a handbasket" grumpy old man mentality.
    #21     Dec 15, 2016
  2. Some examples of "cronyism".

    Former federal employees who migrate to lobby the same government agencies that formerly employed them.

    Employees of investment banks who migrate to positions inside the Treasury Dept, Federal Reserve, SEC, NFA and other agencies that issue rulings, monetary policy to benefit their former employers.

    Members of the press who collude with one political party (going so far as to sending articles for approval to members of said political party for "approval").

    Predictably, Sig will reply that "this has always existed". In other words, he will agree that cronyism has always been a part of the economic landscape. Next, he will argue that the above examples are some improvement over prior economic periods...Over the 1890's and 1920's perhaps, but certainly it's a trend back towards consolidation and a "merger" of business and state.
    #22     Dec 15, 2016
  3. Sig


    I don't know what 1980's you were living in my friend, and although it was before my time the 1970s and 1960s had exactly what you're describing but more from contemporary descriptions. Again, I'm happy to show you how to use the internet to your benefit, I know some older folks aren't really fully aware of the power available to them.
    #23     Dec 15, 2016
  4. Nice dodge and some petty passive-aggressive insults thrown in there to boot. So which is it? More of your contradictions: I'm either not old enough to remember the 80's or too old to use the internet.

    Show us the proof that the 1960's and 1970's had exactly what I outlined above.
    #24     Dec 15, 2016
  5. Just what I thought, "Sigmund Fraud"...
    #25     Dec 15, 2016
  6. Sig


    Wow, you get a 15 minute response window and that's it with this dude! God help you if you're not retired and actually just check in for entertainment purposes from time to time.

    Every single one of the items you listed has always been endemic. Rumely v. United States in 1952 is the seminal lobbying supreme court case litigated because there was so much concern at the time about lobbying. Let's look at some cabinet members, George Shultz, Secretary of Treasury from '72 to '74, then President of Bechtel from 74-82, then Secretary of State from 82-89. Tell me that isn't a revolving door! An how about Casper Weinberger, in Nixon's cabinet, then went to work for, wait for it... Bechtel, then back as Secretary of Defense for Reagan. Again, you want to talk cronyism and revolving doors that's pretty much the definition. We can find a dipshit reporter leaking info in any era, no need to litigate your political grievances on the biased press here.
    If you don't realize the increase in transparency the internet has brought then you clearly don't know how to use the internet, how's that for just being blunt. I'm happy to help you come up to speed on it, that's being nice in most people's book. Your Eeyore gloom and doom lense really just impacts your enjoyment of the world, but if you like being pissed off about how everything is screwed these days and that's what keeps you going then I guess whatever floats your boat, just don't expect everyone to buy into it as an accepted fact.
    #26     Dec 15, 2016
  7. The concept that transparency has reduced cronyism is unfounded.
    #27     Dec 15, 2016
  8. Pekelo


    Sig, what we are trying to tell you is that nothing has changed. And you talk too much...
    #28     Dec 15, 2016
  9. He is the guy who will scream "you're wrong", then spend the next fifteen minutes making your point for you...

    Or as most people refer to them "a pompous windbag".
    #29     Dec 15, 2016
  10. Sig


    You have a great night too. And don't let discussions get your blood pressure up too much, at the point you start calling people names you're probably impacting your health.
    #30     Dec 15, 2016