OK DU Lawyers: What standard of proof is needed to go after the talking heads on CNBC for pump&dump?

[ddeclue]

Doesn't the SEC prosecute pump and dump schemes?

Haven't these guys been pumping stocks for their wall street CEO buddies for the last several years?

What makes it a prosecutable crime and have they crossed over the line enough to prosecute?

:shrug:

Doug D.
Non-Lawyer....

[merh]

1. not a lawyer, but I would think that all the SEC would need is

a pattern of behavior and profits -

[elleng]

2. Please describe what you mean by 'pump and dump,'

and I'll try to get an answer.

Thx

[ddeclue]

3. Look it up on wiki....nt

[elleng]

9. You want advice????

.

[ddeclue]

10. No, not personally, it is a rhetorical question...

seems to be reasonably answered by others at this point.

[Frank Booth]

4. Rule 10b-5

http://en.wikipedia.org/wiki/SEC_Rule_10b-5

People have also claimed that The Motley Fool, The Street, and Mark Cuban (Sharesleuth) are guilty of stock manipulation. Whether they are or not, I have no idea.

[crimsonblue]

6. From Wikipedia

Enforcement

Both the SEC and private citizens can enforce the requirements of the rule through lawsuits. The defendant need not be the seller of the stock - any person who fraudulently induces a person to purchase any stock may be held liable.

[Me.]

8. The Street

is owned by Cramer

[crimsonblue]

5. There's evidence that Cramer and others at CNBC have been running a pump and dump

read the essay at deepcapture.com. In it, it explains how Cramer and others have used their bully pulpits to destroy companies by use of naked short selling. Essentially, one talks up a stock, then borrows stock they don't have and can't deliver to bet short on the stock. Then when the stock plummets, they make mad money. The bigger the stock price crash, the better.

[Me.]

7. You Should Read This

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=389&topic_id=5196768

[Supersedeas]

11. thanks for the link