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Pastimes : CNBC -- critique.
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To: Ted David who wrote (8218)7/25/2001 4:24:57 PM
From: straight life  Read Replies (1) of 17683
 
Just in passing turned on the tube yesterday and Pissani-the-real-estate-reporter who's now an expert on equities (he calls Bill Griffith, 'William' and probably thinks that one affectation lends him all the gravitas necessary to do his job adequately) had evidently been reporting on a "buyer's strike on the floor of the NYSE"! You had turned to do an interview with some hack from Griswald inc.(?) when I tuned in; you said you thought there was some real selling going on (duh).

This 'expert' then used the whole of the interview to blame and rage about how Reg FD is the lone culprit for this bad market; his knickers were all in a twist about how he and the rest of the wallstreet thieves can no longer trade on advanced knowledge of corporate developments. His 'point' was that corporate officers are fearful of releasing any information because of FD.

You let him get away with this claptrap unchallenged, which is one reason I watch as seldom as possible.

FD levels the playing field but slightly. It might do it a little more than that if there was any enforcement but there isn't. Corporate officers are allowed to release any information any time through announcements, releases etc., there just shouldn't be any favoritism shown to pet analysts and the like.

As to the reason the market sucks? Well, there's no good news but there is plenty of bad news (not 'no news', griswald). How's that for a reason? Want to interview me?

ps- That last one was a joke, of course: I'm not available for interviews.
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