Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : CNBC -- critique. -- Ignore unavailable to you. Want to Upgrade?

To: DismalScientist who wrote (11354)	8/16/2002 10:34:47 AM
From: BWAC	Read Replies (2) \| Respond to of 17683

Look there is nothing CNBS can do to regain ANY credibility with its current format and current on-air talent. New producers won't do the job. New catchy formats won't do the job. Being hard on the Analyst Pimps and Financial Terrorists won't do the job. The time for all those measures is past. Those are all things CNBS should have been doing 3 years ago, instead of 'walking the Nasdaq market site wall' breathlessly blabbering on about XYZ.com going to THE MOON and BEYOND! Instead they pandered to the Broker Pimps. And provided the mass media hype machine and legitmacy that the Pimps needed to sell their wares. And to this day, they are still doing the same. They won't change cause they don't think they have done a wrong. They won't change cause the think they know what you want to see. They won't change cause they are unwilling to admit they are part of the problem, and have been knowingly used by the Broker Pimps in the previous mass theft of investor dollars.

To: DismalScientist who wrote (11354)	8/17/2002 5:08:32 AM
From: Gary M. Reed	Read Replies (3) \| Respond to of 17683

The witchhunt on Grubman is yet another joke by the NASD. The NASD is owned by and controlled by the big firms such as Salomon Smith Barney. What Grubman did was wrong, but he was following orders from his superiors. Guess what...the biggest penalty his Smith Barney superiors will get is a slap on the wrist for "failure to supervise," while Grubman will get banned for life from the business. Kinda like if the FBI only prosecuted the hit men in the Mafia instead of going after the kingpins. If the NASD was indeed an independent regulatory organization, they would've shut down firms such as Merrill and Smith Barney...lets face it, those firms' behavior was no different than that of the bucket shops of the 1980's and early 1990's. They were actively soliciting their clients to purchase shares of companies they KNEW were worthless or overvalued. That is the definition of a bucket shop, and yet it is how Merrill, Smith Barney, etc. made their butter in the late 1990s. Honestly, after seeing the crap peddled by Merrill to some of my clients in 2000, I don't see any difference between the CEO of Merrill Lynch and Robert Brennan of First Jersey...they both knowingly used deception to defraud clients out of their money by soliciting stocks of investment banking clients that they KNEW were worthless or grossly overvalued. Instead, the NASD will make a few lieutenants of these firms out to be "the bad guys," bar them for life (to show the public that they are, ahem 'cleaning up the Street'), and allow Sandy Weill, et.al to continue their shenanigans with new lieutenants. You want to clean up Wall Street's scandals? Start by sending a few select wirehouse execs (not their analysts or brokers--who were simply following orders) to prison. Of course, these are the same men who run the NASD, so it will never happen. If anyone doubts the NASD is such a corrupt, self-serving organization, I have tape-recorded conversations and depositions with their officials that prove it. -Gary