The SEC wants to ban false information spread about companies. What a great idea! I am sure they will have great success….not:
SEC Chairman Christopher Cox said the investigation is aimed at “ensuring that investors continue to get reliable, accurate information about public companies in the marketplace.
Chris, guess what? We already have that – it is called the market price. You can’t fake that. This is just another plan to increase the size of government. It will result in absolutely nothing except wasted tax dollars, but I am sure someone will feel better now.
Note: If some knucklehead wants to write misleading information on a chat board (and how do we define “misleading”?) and some bigger knucklehead wants to believe it and then act on it, I say that is a marriage made in heaven, not an opportunity for the government to step in.