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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: 0) by Anonymous Coward on Tuesday April 11 2017, @05:04PM
Second problem is that the working class is happy to keep taking their Soma. And if the chocolate ration is increased this week to 20g, they are happy, even if they don't actually get any more chocolate than last week.
Its more like they are happy as long as the 'undeserving' people get their ration reduced.