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Politics : Al Gore vs George Bush: the moderate's perspective -- Ignore unavailable to you. Want to Upgrade?

To: fuzzymath who wrote (3327)	10/21/2000 2:10:46 AM
From: Lino...	Read Replies (1) \| Respond to of 10042

I just caught the tail end of a story reported by Alina Cho on CNBC Fri morning. It was about the surplus, in a big part, being the result of the enexpected taxes paid on stock market capital gains. Without these gains there would have actually been a deficit of about 57 billion. I have spent hours trying to find this news report on the web with no luck. Has anyone here run across it? If true, and the market dump this year, the numbers will definitely change from current predictions.

To: fuzzymath who wrote (3327)	10/21/2000 10:31:02 AM
From: long-gone	Respond to of 10042

Teen defends stock-promotion actions 16-year-old settled with SEC for $285,000 By Steve Gelsi, CBS.MarketWatch.com Last Update: 5:18 PM ET Oct 20, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) -- A 16-year-old who has settled SEC charges over alleged pump-and-dump schemes that netted him about $800,000 said in his first interview that he didn't do anything wrong. Today on CBS MarketWatch Stocks notch first weekly gain in 7 weeks United Technologies, Honeywell end acquisition talks After Hours: Honeywell, GE and more Icahn holds discussion with Visx Due Diligence: CMGI stocks rides waves of the Internet sector More top stories... CBS MarketWatch Columns Updated: 10/20/2000 5:14:10 PM ET Jonathan Lebed told the television program "60 Minutes" that he "wasn't posting any kind of false information" and that the stocks he plugged under assumed names emerged from genuine research on his part. The segment is scheduled to air Sunday. See segment from show. Lebed's father Greg Lebed, said that at least Jonathan "didn't sit behind a garage smoking pot, or stealing wheels off a car." The family has a new $40,000 Mercedes, thanks to Jonathan. Lebed, the youngest person ever to be charged with illegal stock dealing, promised the Securities and Exchange Commission he'd stop manipulating stock prices. He turned over $285,000 to the SEC to settle civil charges that he committed fraud in stock deals that netted him $800,000. SEC Chairman Arthur Levitt pointed out that Lebed "used fictitious names. He made predictions . . . without any foundation. "The purpose . . . was not to help investors . . . but rather to line his own pockets as soon as he hyped the price of the stock." Lebed's lawyer, Kevin Marino, said, "I don't think . . .you could draw a principled distinction between what he did and what is done every single day of the week on Wall Street." The SEC announced Sept. 20 that it had settled fraud charges with then-15-year-old Lebed. It was the first time the SEC had ever brought charges against a minor. The Cedar Grove, N.J., teen settled charges without admitting or denying anything. The SEC charged Lebed with carrying out a plan on 11 separate occasions to buy blocks of shares in thinly traded microcaps. Within hours of making a purchase, Lebed sent "numerous false and/or misleading e-mail messages," primarily to various Yahoo Finance message boards, touting the stock he had just bought, the SEC said. CBS, which airs "60 Minutes," is a unit of Viacom (VIAB: news, msgs), which also owns a large stake in MarketWatch.com, the publisher of this report. cbs.marketwatch.com