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Pastimes : MANIPULATION IS RAMPANT --- Can We Stop It? -- Ignore unavailable to you. Want to Upgrade?

To: Ron who wrote (169)	5/13/2002 11:43:52 AM
From: CountofMoneyCristo	Respond to of 589

He never traded on explicit advance notice of an analyst's report before its release, and he never planted a story in the press to take advantage of the resulting stock price. So, while virtually every investment bank on Wall Street was busy either front-running or trading contrary to their own analyst recommendations, good old Mr. Morality Cramer was upholding the bar of ethics? Considering his very own public statements, that is not very credible. After the analysts picked it up, "we would then be able to liquidate the position into the buzz for a handsome profit." Such tactics may not be fair to the average investor, but they are neither new nor illegal. Ccordinating stock transactions in collusion with Wall Street analysts, executing trades based on advance notice of analysts reports and comments, i.e. trading in non-public knowledge in this manner not illegal? Whoever wrote that article might peruse a few of our securities laws. This kind of scheme is certainly illegal. Simply because enforcement has been lacking doesn't mean it's legal. But he said Mr. Maier invented his most serious allegations. "He has some kind of nut-job* thing against me," he said, his voice rising. "I have a lunatic out there who dislikes me.* How very typical - anyone who dares raise voice against unethical and illegal practices is laboring in a state of deficient mental health.