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=> clever fraud...

Posted by dr pancho (Guest) - Tuesday, April 11 2006, 23:06:15 (CEST)
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...as part of the aquisition of legitimate media outlets by corporations, came the importance of buisness stories about "hot stocks"...which was nothing more than a veiled attempt to fool people into thinking there really was something to this "analysis". These "experts" just like the ones the military trots out for gullible news stories, do nothing more than whet the public's appetitie so they'll go out the next day and buy those stocks, thereby making the "analysis" come true. It's such a blatant scam...and there's a story in yahoo about some people busted on Wall Street for a pretty elaborate scma of just this kind....

"They allegedly placed classified ads to get Nickolaus Shuster and Renteria to work as forklift operators at Quad/Graphics Inc. of Hartford, Wis., one of four plants where the magazine was published. Shuster has previously been charged with securities fraud in federal court in Manhattan.

The information from Shuster and Renteria enabled them to make at least $340,000 illegally by trading in about 20 different stocks just before the stocks received favorable mentions in the column, Garcia said.

...in other words, these guys got to the magazine first...saw what "analysts" were predicting would be the next hot thing....buying the stock before anyone else could get to the market...and then selling the very next day, when the readers fell for the "news" and didn't care WHAT they paid.

Serves them all right.

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