How can execs issue these forward looking statements, that are obviously designed to mislead, without ending up in jail? Sen. Christopher Dodd was on TV just yesterday saying financial regulation would be merciless on cheaters. http://buffalo.bizjournals.com/buffalo/stories/2008/10/06/daily60.html
Everyone and their mom knew this company was out of money by march '09. I was appalled to hear Wagoner say that. But the ego of GM is what has lead them down this path for nearly 30 years. Oblivious to the writing on the wall to the bitter end.
LEH and BSC execs made "forward looking statements" that were false at the time they said them, and obviously designed to mislead - to keep a vicious cycle of selling and withdrawals from happening. Yet, these now seem to be OK. Any securities lawyers on ET? What am I missing?
the other death trap is insider buying. Seen many companies and their executives buy back huge amounts shares only to see stock get smashed 50% or more and/or company go to zero...Im thinking aeo,tma off the top of my head ....was watching cramer yesterday and he had the tup ceo announce a 50$ million share buyback.