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sortofsilver

Fsa - Do Not Talk Down The Market Or Else

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I thought this deserved a bump from the news section.

http://www.telegraph.co.uk/money/main.jhtm...cnrumour219.xml

Quote "We will not tolerate market participants taking advantage of the current market conditions to commit abuse by spreading false rumours and dealing on the back of them." The FSA is livid that "shock of shocks" people are trying to make money out of the shady market conditions. Quote "What they see as short sellers trying to profit by spreading inaccurate stories. They fear the irresponsible action could undermine the stability of Britain's financial system in these fragile markets."

I think they have a god damn cheek to come out with this 5hit. What has it got to do with the FSA that the markets are in trouble? I thought they were there to ensure the legalities of the markets. Quote from the FSA website "The Financial Services Authority (FSA) is an independent non-governmental body, given statutory powers by the Financial Services and Markets Act 2000. We are a company limited by guarantee and financed by the financial services industry."

How can they be "independent non-governmental body" that is "financed by the financial services industry"?

That makes me a "independent non-governmental vodka inspector" that is "financed by Smirnoff" absolute corrupt twats with no credibility.

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This is a prelude to creating a news blackout and prosecuting people for saying anything that conflicts with the 'everything is ok' party line.

yup. Probably going to happen whether we like it or not.

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yup. Probably going to happen whether we like it or not.

I'll second that.

Just wait for the Blair style: Financial Stability (We're Doing Something About It) Bill 2008 - it will create an offence of spreading rumours about a bank with a view to profiting from the share drop.

Edited by newbie

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yup. Probably going to happen whether we like it or not.

That's a naughty rumour. Freedom of speech is safe. :-)

P.S. Not offended - glad others are picking up on the same story in other publications.

On this subject, however, I have to comment that I've reservations about the morality of short-selling. If shorting is allowed, I can't see why propagating rumours (false or otherwise) can be frowned upon.

Double... "I wonder moment" - Was this rumour started on this website, I wonder. :ph34r:

Edited by A.steve

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Where on Earth were these idiots when the banks were busy making dodgy CDO deals or lending cash to anyone who could sign their name on a form, no questions asked....?!

They should be asking themselves why rumours of a major bank imploding were so readily accepted. I didn't see anyone seriously questioning the HBOS story this morning simply because it was entirely plausible. That in itself shows what a major failure their organisation has been over the last decade.

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Guest Charlie The Tramp
This is a prelude to creating a news blackout and prosecuting people for saying anything that conflicts with the 'everything is ok' party line.

What not rogue traders ? Well I never. :rolleyes:

Trader borrows shares, then sells them

Repurchases shares later at a lower price

Trader returns shares to lender

Makes a profit on the difference

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Where on Earth were these idiots when the banks were busy making dodgy CDO deals or lending cash to anyone who could sign their name on a form, no questions asked....?!

They should be asking themselves why rumours of a major bank imploding were so readily accepted. I didn't see anyone seriously questioning the HBOS story this morning simply because it was entirely plausible. That in itself shows what a major failure their organisation has been over the last decade.

Exactly right! Rumours do not cause banks to crash. Bad debts and mismanagement cause banks to crash.

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This is a prelude to creating a news blackout and prosecuting people for saying anything that conflicts with the 'everything is ok' party line.

:unsure::blink: Not so far from what could easily happen!! :unsure::unsure:

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Quote from the Telegraph 'Hunt forĀ£100 million rogue trader'

Christopher Miller, chief executive of Allenbridge HedgeInfo, which analyses hedge funds said: "The banks and their traders have started to realise that they have got to pull themselves together as this sort of thing is not acceptable. They may well have a vested interest in shares falling but they don't want to trigger financial Armageddon."

What does he know we don't?

David Buik of the spread betting firm Cantor Index, said: "Every investor in the world knows that the banking sector is under the cosh. But what is unforgiveable is to perpetrate rumours about a pillar of financial society without foundation.

"For market spivs and vagabonds to attempt to capitalise unfairly on the weakness of the sector with vituperative rumours is wholly unacceptable."

Am I not right in saying that's what the traders have always done?

F.S.A. F------ S----- A-------s

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  • 295 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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