Now I spoke to a very big attorney in NYC about Silicon investor and the Internet. He is not into internet, but he knew of SI as being the favorite vehicule for shorters. I asked him about enforcements against false rumors or hype. He told me, IHO they are very far from solving that issue.If providers or sites give out the identities of posters who hype or bash to the Justice Department or to enforcement officers, that's the end of them. They will lose tremendous revenues and subscribers will not post anymore knowing their identities can be reveiled.
Now this attorney is one that has done billions of $$$ IPO's on Wall Street with BIG firms. He knows the financial community, and knows what he is talking about.
He told me of the worries of those firms like Goldman Sachs, Salomon Brothers, Merryl Lynch, Pain Webber, Prudential etc... with the Internet community.
They are worried first because they are beginning to lose control of certain issues due to our growing audience on Internet, and because of the Lehman Brothers incident and rumor last week.
The power of our boards is such that we influence not only BB stocks, but NYSE and NASDAQ monsters.
They are also worried because tremendous sums of money are going to E-trade type of firms, and IPO time being over, they want revenues from people like us they despised not long ago.
(As you may notice I dont like the big firms.) |
