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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Tradelite who wrote (29098)	7/8/2000 1:40:22 AM
From: Tradelite	Respond to of 57584

Spotting a bogus news story....especially the one about the alleged arrest of SSB brokers... First clue was invalid "header", meaning the first few words citing the source of the news release. When did you ever see a story that starts off with DOW and a few nonsensical letters after that? Second clue was fact that SEC doesn't "arrest" offenders, as the story claimed. SEC doesn't have armed guards with guns and handcuffs...FBI arrests people who violate federal laws. Third clue was the decidedly "unjournalistic tone" in last few paragraphs of the story. The writer basically did a good job but started showing his amateurism at the end. I loved the story, but knew it was bogus from the start, but only (I guess) because I've seen one other bogus story issued about Wall Street in the past year (remember the hoaxter who was arrested in that case, where the story was alleged to have come from Reuters?). Maybe I'm also skeptical of such stories from the start because I have a journalism degree, and I used to issue news releases from a federal regulatory agency. Now, what should we do? Well, the most constructive thing we can do is lobby Congress to give the SEC the power to arrest Wall Street analysts without a show-cause order or warrant, without the help of the FBI, and without any delay at all when they issue silly downgrades of our stocks! ----grinning but not entirely joking-----