SoylentNews is people
SoylentNews
The U.S. Securities and Exchange Commission on Monday announced a crackdown on alleged stock promotion schemes in which writers were secretly paid to post hundreds of bullish articles about public companies on financial websites.
Twenty-seven individuals and entities, including a Hollywood actress, were charged with misleading investors into believing they were reading "independent, unbiased analyses" on websites such as Seeking Alpha, Benzinga and Wall Street Cheat Sheet.
The SEC said many writers used pseudonyms such as Equity Options Guru, The Swiss Trader, Trading Maven and Wonderful Wizard to hype stocks.
It said it found more than 450 problem articles, of which more than 250 falsely said the writers were not being paid.
No word on conflicts of interest and misleading information in regard to stock promotion on television news networks.
(Score: 2) by kaszz on Tuesday April 11 2017, @03:51PM
There will always be fraudsters. But as long as there's also a continuous negative feedback they won't be around long enough to mess up too much. So if SEC is reduced enough then the system may go into positive feedback. Just ask anyone in control theory how that works out..