Reply to: BoE demands probe as rumours hit UK banks

[AtW]

Things would be far better if the state owned everything

I never said that.

However things would have been better if failed big company directors were going to jail rather than getting golden parachutes. More importantly speculators should not be able to affect market materially.

[HairyArsedBloke]

Rumours about Merrill having a big write down in the morning doing the rounds now.

Them market manipulators at it again. Things would be far better if the state owned everything

[TheFaQQer]

Hmm, ok I didn;'t know that. But if I wrote a column giving tips in a paper, wouldn't I act upon my own advice first?!

Just ask Piers Morgan how that works out

[AtW]

Oh diddumth! atw thinks the world is a nasty-wasty place and wants to cwy....Boo hoo!

[Lucy]

Old!!!!

I know you are, but they let everyone post on here.

[sasguru]

Teeth!!!!

Old!!!!

[Lucy]

Oh diddumth! atw thinks the world is a nasty-wasty place and wants to cwy....Boo hoo!

Teeth!!!!

[sasguru]

The problem is not that they say buy shares X and they buy them also - that's okay, the problem was that they were saying - buy shares X while they were selling their own shares X, effectively they were pumping market up in order to gain themselves.

Oh diddumth! atw thinks the world is a nasty-wasty place and wants to cwy....Boo hoo!

[AtW]

Hmm, ok I didn;'t know that. But if I wrote a column giving tips in a paper, wouldn't I act upon my own advice first?!

The problem is not that they say buy shares X and they buy them also - that's okay, the problem was that they were saying - buy shares X while they were selling their own shares X, effectively they were pumping market up in order to gain themselves.

[BrilloPad]

Can you really believe a word he says anymore??

anyone on this board

[Dow Jones]

AtW and the story of the boy who always cried wolf...

Can you really believe a word he says anymore??

[SueEllen]

Hmm, ok I didn;'t know that. But if I wrote a column giving tips in a paper, wouldn't I act upon my own advice first?!

As the law stands you are not allowed to.

[BrilloPad]

Yes, it is wrong and should be illegal, and here is why:

1) such activity does not contribute to human kind - go learn how to cute cancer or somethng like this instead
2) such activity is based on high degree of leverage - this can turn the earth around, nevermind financial markets
3) spreading knowingly incorrect information with the aim to enrich oneself from the misery of others falsely accused of something that is not true is certainly illegal - if this causes damages then I am sure any court would award them.

And all the hungry should be fed too.

I worked at TMI with a quant who left Glaxo for more money - he assumed the work would be tougher!!!

[HairyArsedBloke]

Yes, it is wrong and should be illegal, and here is why:

1) such activity does not contribute to human kind - go learn how to cute cancer or somethng like this instead
2) such activity is based on high degree of leverage - this can turn the earth around, nevermind financial markets
3) spreading knowingly incorrect information with the aim to enrich oneself from the misery of others falsely accused of something that is not true is certainly illegal - if this causes damages then I am sure any court would award them.

Items 1 & 2: OH! FFS!!!!! Do we have to go through all this again?

There is something to be address in item 3, laws do exists that can be used to prosecute if it can be proved that market manipulation did take place.

In times like this all sorts of rumours go around and all sorts of strange things happen in the markets. Sometimes, in fact most times, they defy rational explanation. Stupidity, not conspiracy explains most market movements.

[BrilloPad]

No

Manipulating the market by spreading false rumours is very wrong. And illegal.

If god had not wanted them to be fleeced he would not have made them sheep.