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What's the outcome here if the expose turns out to be a farce? Written apology from Bloomberg? Fire the reporters? SEC charges of security fraud related to sto

What's the outcome here if the expose turns out to be a farce? Written apology from Bloomberg? Fire the reporters? SEC charges of security fraud related to stock manipulation?

kasey_junk 8y ago
The first 2 are likely outcomes the third would be extremely unlikely unless there was very specific evidence that it was an intentional act. A lawsuit from damaged shareholders isn’t out of the question though.
0xcafecafe 8y ago
The buck doesn't stop at the reporters right? They had somebody above them who gave the permission to run the story. Also, I want to believe that they did more groundwork to establish credibility before deciding to go for it. If it turns out to be false, I wouldn't know whom to trust anymore.
e40 8y ago
This will be exactly what POTUS needs to get his AG to move against the press. He's been threatening it since before he took office. Not saying it would succeed, but I'd wager he'll try.
- draw_down 8y ago
  No, no.
- heegemcgee 8y ago
  Oh my god, no. Edited: When i first read your comment, it sounded like you were emploring the president to act against the press. I see that i misread.
- jerf 8y ago
  "This will be exactly what POTUS needs to get his AG to move against the press." If this was anything, it would be a reason to move against China. However, several days later, we can be fairly confident in saying it isn't any reason for the President to do anything, on the grounds that to the best of my knowledge, he hasn't done anything. (This opinion subject to change if someone cites something, of course. But I'd expect it would have come up in our HN conversations by now.) If this was a conspiracy from the government to make hay out of this news, they would have done so by now. Next day at the latest, given the speed of the news cycle nowadays. I think we can safely discard this theory now. (I also see no reason to even suspect that the President thinks he needs some sort of additional casus belli against China. He seems to believe he's got plenty already. If such things are being faked, they aren't being faked in stories like this, but at a much different level in much different places.)
kjullien 8y ago
Well if you look at the US company stocks since the story (not the chinese ones) you'll see none of them had a negative day. So either they miss-planed their "stock market" manipulation or it was not their intention...
- dumbfounder 8y ago
  If it was their intent and they lost money, would be funny if they went to jail too.
- AimForTheBushes 8y ago
  That's flat out false. AAPL was at an all time high when this story came out and then proceeded to drop 11 pts over the next 2 days. Not evening mentioning that SuperMicro's value has halved.
- jwegan 8y ago
  Stock market manipulation doesn't mean you have to manipulate the entire $20 trillion dollar US stock market, it just means you tried to manipulate the price of a specific stock. Super Micro's stock dropped 40% based on the story. Hypothetically if someone shorted the stock and then pushed to get a story published that they knew had no basis in evidence, they would have profited handsomely and that would have been stock market manipulation.
mikekchar 8y ago
Genuine question: what happened to Leah Goodman and the editorial staff of Newsweek after the Satoshi Nakamoto debacle? As far as I can tell, nothing: https://www.newsweek.com/authors/leah-mcgrath-goodman https://www.newsweek.com/authors/leah-mcgrath-goodman

What's the outcome here if the expose turns out to be a farce? Written apology from Bloomberg? Fire the reporters? SEC charges of security fraud related to stock manipulation?

kasey_junk 8y ago

The first 2 are likely outcomes the third would be extremely unlikely unless there was very specific evidence that it was an intentional act. A lawsuit from damaged shareholders isn’t out of the question though.

0xcafecafe 8y ago

The buck doesn't stop at the reporters right? They had somebody above them who gave the permission to run the story. Also, I want to believe that they did more groundwork to establish credibility before deciding to go for it. If it turns out to be false, I wouldn't know whom to trust anymore.

e40 8y ago

This will be exactly what POTUS needs to get his AG to move against the press. He's been threatening it since before he took office. Not saying it would succeed, but I'd wager he'll try.

draw_down 8y ago
No, no.
heegemcgee 8y ago
Oh my god, no. Edited: When i first read your comment, it sounded like you were emploring the president to act against the press. I see that i misread.
jerf 8y ago
"This will be exactly what POTUS needs to get his AG to move against the press." If this was anything, it would be a reason to move against China. However, several days later, we can be fairly confident in saying it isn't any reason for the President to do anything, on the grounds that to the best of my knowledge, he hasn't done anything. (This opinion subject to change if someone cites something, of course. But I'd expect it would have come up in our HN conversations by now.) If this was a conspiracy from the government to make hay out of this news, they would have done so by now. Next day at the latest, given the speed of the news cycle nowadays. I think we can safely discard this theory now. (I also see no reason to even suspect that the President thinks he needs some sort of additional casus belli against China. He seems to believe he's got plenty already. If such things are being faked, they aren't being faked in stories like this, but at a much different level in much different places.)

kjullien 8y ago

Well if you look at the US company stocks since the story (not the chinese ones) you'll see none of them had a negative day. So either they miss-planed their "stock market" manipulation or it was not their intention...

dumbfounder 8y ago
If it was their intent and they lost money, would be funny if they went to jail too.
AimForTheBushes 8y ago
That's flat out false. AAPL was at an all time high when this story came out and then proceeded to drop 11 pts over the next 2 days. Not evening mentioning that SuperMicro's value has halved.
jwegan 8y ago
Stock market manipulation doesn't mean you have to manipulate the entire $20 trillion dollar US stock market, it just means you tried to manipulate the price of a specific stock. Super Micro's stock dropped 40% based on the story. Hypothetically if someone shorted the stock and then pushed to get a story published that they knew had no basis in evidence, they would have profited handsomely and that would have been stock market manipulation.

mikekchar 8y ago

Genuine question: what happened to Leah Goodman and the editorial staff of Newsweek after the Satoshi Nakamoto debacle? As far as I can tell, nothing: https://www.newsweek.com/authors/leah-mcgrath-goodman https://www.newsweek.com/authors/leah-mcgrath-goodman