``The rules will level the playing field when it comes to the ability of everyday investors to receive important information at the same time as the Wall Street insiders,'' said SEC spokesman Chris Ullman.
Yeah... right!
The better view, IMO...
... Well, they keep talking that way. If you spend your day watching CNBC, which no one should do, under any circumstances—and I try not to, but I wind up tuning back in from time to time. They’re always pushing ideas like that. The Wall Street people that they interview tend to be the people who’ll come in and recommend Nortel because “It’s cheap now, it’s come down.” Or Cisco, because “It’s such a great company,” and things like that. The people who know better don’t want to talk on these programs, so you never see them. But guests like that have an enormous effect on the people who are watching. I don’t have the sound on often enough to be sure, but I suspect that the majority of the questions that come in for these people are really sad. “What do you think of Micron? Should I buy it, hold it, sell it, whatever? They’re, almost always, “I’m stuck in this stock.”
SF |
