Comments on: Steve Jobs rumor: What can the SEC do?

By: Pete, Sparta, NJ

Pete, Sparta, NJ — Wed, 08 Oct 2008 13:00:59 +0000

The only way to stop the false rumors is to ban short selling across the board.

By: jim, richmond va

jim, richmond va — Sun, 05 Oct 2008 19:51:54 +0000

Cox and the SEC are crap. Here you have a so-called 'regulator' who neither generates new laws or enforces old laws. What the hell does he do all day? Golf!

By: Eddie-Coeur d Alene,ID.

Eddie-Coeur d Alene,ID. — Sun, 05 Oct 2008 18:59:33 +0000

To prosecute such cases one must prove intent,motive and gain.To accomplish all of these can be VERY difficult if other people were used in the scheme.

By: Gene Warech, Los Angeles CA

Gene Warech, Los Angeles CA — Sun, 05 Oct 2008 18:49:13 +0000

There is plenty of blame and culpability to go around, but as a journalist I have to point at CNN. They publish, what turns out to be a lie, under the CNN banner. They not only do not check sources and ask for corroboration, but they allow complete anonymity- CNN does not even ask for a name and address no less check the identity before they publish this stuff under the CNN name.

How can I then trust their TV coverage?

I see further down on this form a request for name and location on a letter to the editor but not on a news item. Yuck.

By: Mike, Palo Alto, CA

Mike, Palo Alto, CA — Sun, 05 Oct 2008 08:33:19 +0000

Sure, posting incorrect information about people and companies isn't nice, but the fact that a story like this can cause Apple stock to plummet shows that Apple's value is built on hype and that people are speculating. In different words, I don't think the SEC should do anything about this. Companies and individuals that get hurt by rumors have only themselves to blame.

What should be done is to re-institute very high taxes on short term capital gains in order to discourage speculation.

By: Lana Lynn, Westwood, CA

Lana Lynn, Westwood, CA — Sun, 05 Oct 2008 06:53:59 +0000

If you're dumb enough nowadays to make financial decisions, any decisions at all as a matter of fact, based upon rumors before you do your homework then you deserve to lose your shirt and more. You need to verify your sources and then check again. That's a thought brought to you by the investment group at http://www.lanaslines.com

By: James,Wilmette, IL

James,Wilmette, IL — Sun, 05 Oct 2008 05:46:36 +0000

Person who starts the rumor should go to jail.

By: Eric, NY, NY

Eric, NY, NY — Sun, 05 Oct 2008 04:07:21 +0000

Ironic that J. Dimon thinks that people should go to jail for spreading rumors. His firm certainly benefited from false rumor-mongering about BSC, forcing that company from solvency to the brink of bankruptcy in 3 days. This is just the free market at work–whereas getting the Fed to insure your losses when acquiring a competitor–is not.

By: RD, Freehold, NJ

RD, Freehold, NJ — Sun, 05 Oct 2008 04:02:26 +0000

I think it $ucks that this was done to Apple. Its a great company with great products and is making huge profits and has a fantastic growth potential. But the stock market is an emotional and subjective thing. In the beginning it was a closed system where friends invested in each others companies based on hearsay and conjecture. It was never based on logic. So rumors and false info historically have driven the market. When companies went public, some financial rules were developed to help investors decide if a stock was worth investing in. Buy low sell high makes the money. So if most investors would invest and not panick and day trade for a few cents, maybe the market would behave better. It is what it is. I see no end to its frailness in the current recession and devalued US dollar.

By: Terry, alexandria, va

Terry, alexandria, va — Sun, 05 Oct 2008 02:20:38 +0000

This gets into a bigger issue of so called "self-reporting" and how it has grown to incredible proportions. Youtube has created this – and CNN tries to be "hiP" with Ireport – yet of course takes no responsibility for the content. Why is CNN not under investigation? Why do they continue to air this trash?