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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: Sir Auric Goldfinger who wrote (2907)	6/17/2000 9:35:00 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 3543

Nice find, Auric. How about partly-owned Yachts and Ferraris for the even smaller outfits and their henchmen?

To: Sir Auric Goldfinger who wrote (2907)	6/23/2000 3:27:00 PM
From: EL KABONG!!!	Read Replies (1) \| Respond to of 3543

Auric, Looks like AMZN hasn't been doing too well of late. Perhaps there is something after all is said and done, to this new-fangled notion of earnings and a profitable business model... Nah... It's just day traders and MMs conspiring to cover their Canadian shorts. <g> KJC

To: Sir Auric Goldfinger who wrote (2907)	6/23/2000 6:38:00 PM
From: RockyBalboa	Respond to of 3543

Pffft! Friday June 23, 5:19 pm Eastern Time Royal Bank concedes RT portfolios inflated (UPDATE: Adds background in paras 5 through 9) TORONTO, June 23 (Reuters) - Royal Bank of Canada (Toronto:RY.TO - news), the country's largest bank by assets, acknowledged on Friday that some transactions at its investment arm RT Capital Management had overstated the value of certain portfolios. The bank said the transactions, which involved two portfolio managers and two traders, occurred at, or near, market close. Names of the participants were not disclosed and no resolution of the matter has been reached in continuing discussions with the Ontario Securities Commission, which is investigating the case. The transactions involved trading of 26 stocks on eight trading days between October 30, 1998 and March 31, 1999. Although the impact on portfolio values and fee revenues was small, RT Capital and Royal Bank Financial Group said they still regard the matter as very serious. RT Capital Management is Canada's third-largest institutional money manager, with C$28.6 billion ($19.5 billion) in assets under management. The bank said the orders were executed on the Toronto Stock Exchange by various independent brokers, and to its knowledge, the Ontario Securities Commission investigation does not involve any other unit of Royal Bank Financial Group. Speculation has swirled since media reports earlier this week disclosed that regulators were investigating whether the fund company was ``high sailing,'' or artificially inflating stock prices late in the day to improve the performance of its funds. The case comes at a time when the banking industry is already in need of a public makeover, analysts said. Canada's big banks, which have consistently reported strong earnings, are not in favour with the public as a result of layoffs, rising user fees and branch closings. Nor do the banks find much sympathy in government circles. Saying that they were not in the public interest, the federal finance minister vetoed two sets of merger plans by four of the country's Big Six banks in 1998. Last week he tabled a bill that forces future bank mergers to get public approval. ($1 equals $1.48 Canadian) biz.yahoo.com