Linked by Thom Holwerda on Sat 4th Oct 2008 21:12 UTC
If you're looking for a party, Wall Street probably isn't the place you're going to find one. And to make matters worse, there are apparently people out there who are wilfully trying to make the life of the people on Wall Street (and subsequently, the rest of the world) even harder. By making up fake stories. And publish them on CNN's Digg - iReport.com. Some individual had posted a fake report last Friday, claiming Steve Jobs had suffered from a heart attack and was rushed into the hospital. As a result, Apple's stock made a 10% nosedive.
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Member since:
2005-07-06
Any high profile change will affect the stock market, and the SEC is aware of this, which is why they have all those laws about stock manipulation which is what this could easily be considered.
We even have similar laws protecting people, but they are far less effective because we cannot force people to believe something about a person. How many teachers have been falsely accused of abuse, been cleared of all charges, but are still banned from or simply not hired for teaching ever again?
I dearly wish this would serve as a wakeup call for all those people who react to rumors, threats, and stories "just in case they're true", but let's be realistic. I'm an idealist, not an idiot.
Far too many people lack good judgment, but love to make judgments when they can remain anonymous. I don't know about you, but scares the living $#!& out of me.
Happy Halloween.