Tuesday, July 08, 2008

Why Hello Mr. Pot!

JP Morgan Chase’s chief executive, Jamie Dimon, said U.S. regulators should investigate whether people betting on Bear Stearns‘ stock falling deliberately brought down the investment bank.

“Where there is smoke, there’s fire,” Mr. Dimon said in an interview with Charlie Rose on PBS, televised on Monday. “I think the Securities and Exchange Commission should investigate it, okay? I think if someone knowingly starts a rumor or passes on a rumor, they should go to jail.”
Then the same should go for those who make absurdly optimistic predictions about their companies' performances. If people can be punished for causing a stock to unduly drop, they should also take heat for causing one to unduly rise.

Then again, when stocks rise everyone makes money, so who cares?!

Link.

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