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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who started this subject	10/29/2003 11:48:20 PM
From: energyplay	Read Replies (1) of 74559

Teach Putnam a Lesson: Take Your Money Away By James J. Cramer 10/29/2003 03:49 PM EST URL: thestreet.com Market Commentary It would have been one thing if Putnam had caught improper trading in 2000. But the practice was ongoing this year. This outrage deserves only one vote, the one with your feet. Still got your money in Putnam? Still think that you can trust guys who were in charge when skimming happened right under their noses? Still think that you can bank on these guys? Then if you don't mind, let me wake you up. You deserve better. Heck, even the Massachusetts State Treasurer is joining the party, pulling the money out; that's a big employer in the state and it can walk away. Look, it would have been one thing if this firm had caught this stuff in 2000, fired the guys and alerted the authorities. It also would have been enough if they had banned the practice. But the practice was ongoing this year. That's right, this year! That's amazing. I have seen the statements from brokers that sell Putnam funds saying all this is old news and Putnam is just suffering from bad publicity, and I want to puke. This outrage deserves only one vote, the one with your feet. Show Putnam you aren't as stupid as they seem to think you are. Take your money away.

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