To: TheStockFairy who wrote (43903 ) 5/31/1999 9:53:00 AM From: J. P. Read Replies (3) | Respond to of 86076
The U.S. market is a joke and a scam. Merrill Lynch says CC is their 'stock of the week' and the thing goes on a tear to the upside. Let's examine this for a moment... (Please make note CC stock wasn't making upward progress until Merrill's announcement) 1) Couldn't Merrill Lynch have loaded up themselves, or had a client loaded up prior to this declaration? (duh) 2) Is this not a form of 'insider trading' since Merrill obviously has a great influence on market direction of securities? 3) Isn't this a grossly unfair advantage over other market players? 4) Why isn't this advantage being investigated by the SEC? (Who, by the way, we pay dearly with our tax dollars to protect us against this kind of unfair activity. See Wizard of OZ, toothless lion who wished he had courage) Any kind of rigorous due diligence, investigative homework or other analysis by the individual investor is rendered completely worthless in the face of the ability of companies like Merrill Lynch to make positive proclamations (and not necessarily with any fundamental change in the underlying business of the security they are touting). You may say this is obvious, but if you examine it for a moment, this makes the individual investor subject to the whims of the big financial houses, and isn't that having the FOX GUARD THE HENHOUSE? Or is this ok with everybody, is it alright with investors that Merrill Lynch can call the shots on individual securities? Until this changes, our market is a joke, and insider profiteering is flourishing with a wink and a smile from our government and regulators. Anyone reading this note who doesn't think the U.S. equity market is a rigged scam, with big investment houses calling the shots all the way with the tacit approval of the U.S. Government, I urge you to write a rebuttal.