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Well now, what do these folks have to say?

Dangers of Incompetent Internet Users

Posted by David on Monday, September 15, 2008 5:26:51 AM

I found this story fascinating! Well, if I owned stock or knew someone who owned stock in United Airlines I might feel different but...

Someone searching Google for "bankruptcy 2008" pulled up an article from the year 2002 about United Airlines filing for bankruptcy protection. Apparently without doing any checking or verification that this was indeed a "2008" article, it was subsequently posted to Bloomberg Financial News. Within minutes (well, maybe 30 minutes, check the article for the actual timeline) 15 million shares of United stock had been sold off and the price plummetted from $12.17 to $3.00 per share!
 
Trading was halted and the price eventually came back up, but, will this give unscrupulous traders a new trading tactic? Post a bogus story, wait for the price to fall, buy a bunch of stock and wait for the price to correct.
 
By the way, if you're tired of all the Che Guevara T-Shirts, check out these... http://www.zazzle.com/SuperDave/
Nam et ipsa scientia potestas est.Knowledge is power. - Francis Bacon
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Call Me A Conspiracy Theorist, but...

Posted by David on Wednesday, September 10, 2008 2:39:14 AM

I have to wonder about this government takeover of Fannie Mae and Freddie Mac. I would not be suprised if the top officials of these institutions were engaged in activities that were, shall we say, "less than ethical". However, for the federal government to just come in and say, "Well, our beancounters say there's a problem here so we're taking over!", I don't know...

It seems like just another power grab to me.
 
Care to make a statement against those Che Guevara Tee shirts? Well, here's your opportunity!
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