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In The News Discuss political issues as they come up in the news.

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Old 09-19-2008, 03:42 PM
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Default Tactics of Wall Street traders scrutinized

NEW YORK — New York State is launching an investigation into whether some traders used illegal tactics to drive down the stock price of several Wall Street firms.

Attorney General Andrew Cuomo told reporters Thursday his office has received a “significant number” of complaints about short sellers, or investors who hope to profit by placing bets that a financial company’s stock will fall.

Short-selling is not illegal. But Cuomo said he will focus on whether short sellers engaged in conspiracy or spread rumors and bad information to influence the stock prices of Lehman Brothers Holdings, American International Group, Goldman Sachs Group, Morgan Stanley and other firms that have been hammered in the ongoing financial crisis.

For the rest of the article: Tactics of Wall St. traders scrutinized : Business : The Buffalo News
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Old 09-19-2008, 04:50 PM
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Quote:
Originally Posted by Chan View Post
NEW YORK — New York State is launching an investigation into whether some traders used illegal tactics to drive down the stock price of several Wall Street firms.

Attorney General Andrew Cuomo told reporters Thursday his office has received a “significant number” of complaints about short sellers, or investors who hope to profit by placing bets that a financial company’s stock will fall.

Short-selling is not illegal. But Cuomo said he will focus on whether short sellers engaged in conspiracy or spread rumors and bad information to influence the stock prices of Lehman Brothers Holdings, American International Group, Goldman Sachs Group, Morgan Stanley and other firms that have been hammered in the ongoing financial crisis.

For the rest of the article: Tactics of Wall St. traders scrutinized : Business : The Buffalo News
That such Bullsh!t. Cuomo needs a new scam to pull, hopefully he gets busted with a whore... now that would be some ironic Karma.
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