The US government investigation into an 18-year-old's false "citizen journalism" report that Steve Jobs had had a major heart attack has so far found he did it for the craic, according to a report. The SEC is probing the circumstances surrounding the one-paragraph October 3 story on CNN-owned site iReport because it caused a …
bankers.. always wanting to blame someone for their own lack if diligence. Surely someone on Wall Street has Job's telephone number and could have called him to check it first.
Its time to take control of the world away from the banks and stock markets as they have proved over and over again they are not up to the job.
Why is it
every one wants proof before believing anything good - but instantly believes anything bad :s
Follow the Money
I hope they look very carefully at the share trading activities of Henry Blodget, friends and family.
(Why is a disgraced financial analyst allowed to run a tech stock punditry mill anyhow?)
On correct spelling of the "craic"
Good work fella
"continued control freakery is seen as crucial to Apple's success"
Isn't that what just about killed them before?
Surely it's more his ability to make simple, shiny things with mass-market appeal?
Stock traders make money when the price changes, up or down they don't care as long as they know in advance what way it's going. If they can give it a push they are going to. They don't care about stability or what happens to other people. As long as they run the show expect more bubbles and more crashes as that's how they become millionaires.
Not that I want to start a flame war or anything but you might find that criac actually originated from Ulster Scots (what a waste of taxpayers money to say that it's a language in it's own right - aye) and should more correctly be spelt as 'crack' despite the protestations that 'craic' is correct.
The 'research' I've used for this comes from wikipedia so feel free to roast me :- http://en.wikipedia.org/wiki/Craic
yon coat's mine by the way.
My Dictionary of Hiberno-English by Terry Dolan states it is of Middle English origin, "crak" meaning loud conversation. Craic is just the pretentious (my opinion, not Prof. Dolan's) version of the modern english "crack". If "crack" is good enough for Brian Friel and Roddy Doyle then it should be good enough for anyone.
I'll get me coat.
yes, but was Harry or any of his cronies short-selling?
The answer ...
... is simple. In stock markets it does not matter whether or not the story is credible. What matters is whether OTHERS will EVENTUALLY believe it. If sufficient percentage of readers believes it, stock value will go down, which means one has to sell it FAST in order not to lose the money, which in turn drives price down *without anyone believing the story* at the moment (yet or ever, that's irrelevant).
Given that the original posting was a rumour ("someone told me", not "I saw this with my own eyes"), perhaps CNN should reconsider the name of their punter, er, citizen journalism endeavour.
People used to fact check...
but $10 commisions have destroyed the stock market. As near as I can tell about half the money now comes from Joe Sixpack, who jump on any rumor they hear.
you. couldn't. make. this. stuff. up.
Just further proof...
That this whole stock market casino crap is shite and has nothing to do with reality. Except for the part where it fucks us all up, that is...
says the relevant meaning of 'crack' and the expression 'for the crack' originate in the mid-20th century, probably derived along the lines of "a witty or sarcastic remark" (late 19th), "a gossip, (in plural) items of gossip" (early 18th), and "boastful talk; an instance of this, also, a flagrant lie" (Late Middle English). 'Craic' is just the Irish form of 'crack', re-imported into English in the late 20th century.
In short, it's about as Irish as Waterford Crystal is these days.
Forget the 'craic'...
... he did it for the lulz.
@kudos for correct spelling of craic
That's great and all, but I'd be more impressed if he had conjugated "to sink" correctly.