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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?


To: Road Walker who wrote (110324)9/19/2000 3:17:31 PM
From: GVTucker  Read Replies (2) | Respond to of 186894
 
John, you really must have misinterpreted the Full Disclosure rule and Levitt's intent.

Bank of America is under absolutely no obligation at all to disclose anything to anybody other than their clients, and even then they can disclose some information to some clients and withhold that information from others.

Levitt would like to see individual investors and Wall St. analysts have access to the same information. For the most part, this is happening. If an individual investor makes the choice to listen to a Wall St. analyst, that is to his/her profit or peril.

Thanks goodness.



To: Road Walker who wrote (110324)9/19/2000 3:21:36 PM
From: Jim McMannis  Read Replies (2) | Respond to of 186894
 
RE:"To: Jim McMannis who wrote (110319)

John,

RE:"I think you guys are underestimating the SEC under Chairman Levitt. There was incredible pressure from the brokerage houses NOT to pass rule FD (selective disclosure), yet he got it through. If you take the time to read his speeches you will find that he is a strong friend to the retail investor, and he has "walked the walk".
A class action suit is interesting, I'm not a lawyer, and I have no idea if it could be won. I'm sure BoA wouldn't appreciate the publicity. At worst, it would send a message to the analyst's and their bosses. They might be more careful about yelling fire in a crowded theater.
I didn't sell any stock, but I might send an Email to the SEC."

All Whittington has to say is that to the "best of his knowledge" Intel was a sell at 76 and a buy at 55. If asked if he did this to facilitate a drop in the stock price he would reply, no, "I didn't have any idea the stock would drop that much so quickly. Market conditions contributed to it..."