Should the government/SEC even check what public companies say and what CEOs tweet?
Why aren’t we letting shareholders deal with these things? Why is the government interested in whether Musk tweets “400,000 car production target” or “500,000 target”? It’s not the SEC which is a shareholder of Tesla, it is Joe from Montana, the Dubai Wealth Fund from Dubai, Japanese insurance companies from Tokyo and Lena Katovski, 32yr old hairdresser from Warsaw, Poland.
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SEC is fully compromised, look what they did during the 2008 crisis, they bailed put a company at high price and despite having nearly gone bankrupt the company was able to give its executives all raises before fading into obscurity with the bailout money
I just don’t think in this digital world they are of any use. They should go after the ponzi scheme Bernie Madoffs... but tweets which are just somewhat inaccurate? It’s not their business, Musk isn’t trying to defraud his investors.
Trump should seriously look into reforming the SEC. It’s not the 90s any more.
tesla will never be shut down, even if they file bankruptcy, they will be sold off to one of the big 3.
so questions.
should having the most open moment to moment communication between a CEO and the public be celebrated or punished?
Should the SEC be lauded or rebuked in their actions to attack the share price to assist the massive shortselling of this company? The inevitable result of success being market consolidation.
when has govt done anything right?
dude, he tweeted that he had some huge investment lined up, and the stock price jumped 50%. then a few days later, when it turned out he was *lying*, the stock dropped 50%. plenty of investors got fucked hard by his tweet.
i like musk, i think he's a cool rich smart guy who doesn't give a fuck what people think, and i'm glad he's going to war with the sec, but, he shouldn't be fucking with people's lives willy nilly like that.
Typically, war cannot be effectively waged by private corporations funded by the private sector. Also, privately funded courts and judges are a problem.
But the SEC is a classic example of a gov agency which once was necessary and made sense, but which is irrelevant now in a world of twitter and Google.
Securing the alaskan border and fucking leafs out of coastline
Investors can A. sue anyone manipulating thr share price for damages in court, B. shareholders can remove Musk from the Tesla board and Tesla management.
Tell me, why should this be the SEC’s job instead? Is America some communist party controlled hellhole?
P.S. the government should just streamline the court processes. They take way too long and lawyer’s costs are way too much. I would go as far as require a limit in how much a lawyer can provide to court in terms of paperwork / evidence and limit depositions etc. And then also allow any defendent to reply to charges informally by email without laywers without a court using this as an excuse to rule for the plaintiff because of “lack of formal arguments” from the defendent.
In other words, cut out the SEC, streamline the court processes and require judges to make common sense rulings ... and not require formalisms that require lawyers. A lawsuit should be as easy as a letter to court saying “hey judge, I lost mooooney in Tesla stock because the Musk tweeted. 20,000 bucks! Attached is a picture of my trading account. Do something!” And Musk should be able to reply by email: “I didn du nuffin. Look at my Twitter account, it’s all there. See yourself.”
And then that should be enough information for the judge to make a ruling. Fuck lawyers, legal arguments should not be permissible anyway, those or for the judge to make, not for plaintiffs and defendents.
>taking into account a fucking tweet as investment information
anybody who lost money from a fucking tweet is retarded
Tweets are important information for trading. If Trump tweets “nuclear war authorized, war with North Korea to start at 6am” I am sure the stock market will react to that.
The question is whether the SEC should punish people who tweet inaccurate stuff. I don’t think that should ever be their job. If someone defrauds someone else Bernie Maddof style, fine, put them in jail. But not for inaccurate tweets, but only for intentional schemes to personally enrich yourself or someone else from them.
If you get defrauded by someone bernie madoff style then you're a fucking idiot and deserve to lose your money
What ever happened to buyer beware?
Why does a government need to babysit every retard?
Someone comes into your car dealership, buys a Porsche with a lease he never intends to honor. He sells off the Porsche. A thing for a court, or you personally to sue him?
>tweets important for trading
jesus christ no they are not. Twitter is not a fucking official source, I don't care how many fucking blue checkmarks you add to an account. The accounts get hacked all the time anyway.
if they lied on a earnings call or something that's different, but twitter is absolutely not an official source and should not be used for investment information, full stop.
nigger youre out of your depth
You call your gang of goons and hooligans and sell him into chinese slavery after he transfers all his wealth to you
how is that analogy valid? you're really good at making false equivalencies
you don't buy a vehicle with a lease
Thats not an arguement
War is only waged because of governments anyways. Without government disputes, even when violence is present, would be localized.
The majority of people alive are coddled retards who can't survive in the world without being a ward of the state. This includes a huge portion of the lower, middle, and the upper classes. When middle class families in a capitalist state invest all of their money into an obvious scam they can't be allowed to lose it because it would upset the status quo. The same is true of huge banks who do exactly the same thing on a bigger scale.
The SEC and its equivalent European regulators are some of the most corrupt organisations in the world. They are chock full of industry plants who keep fines low for obvious corruption of huge companies.
Many officials at the SEC are hand in hand with groups selling Tesla short. They have deals were they will but regulatory pressure on musk and Tesla and get under the table payouts when the shorts produce revenue. This has happened for decades. Its all a scam. They haven't done shit about the dozens of obvious Chinese scam companies who have ripped 150b+ from US investors in direct and obvious scams, but they go after CEO for a tweet.
Is Elon Musk a chink?
can /fa/ link me Elons shirt ? thanks
Maybe the SEC cares when you manipulate stock prices to make a weed joke.
Whenever a german reminds Anyone that they've gained Knowledge of Markets or War, remind them of the 20th Century. You know Nothing, Hans.
Why should they though?
What is the fundamental difference between manipulating stock prices for a joke, and manipulating stock prices to defraud investors?
Jow Forumswallstreetbets $MU
What's next, suing people from Jow Forums?
Sorry where is the manipulation part?
Who was manipulated?
Did they write fake purchase numbers on their books?
Did they intentionally mis-represent the worth of their product?
Did they use some cheap materials for their cars that was found out about later?
Why do we always have to pretend that everyone's a fucking retard and can't think for themselves
60iq morons saw something that they thought would get them rich quick, it messed up, and now they cry when they say they got manipulated
Did Elon musk himself point a gun at each investor and tell them to buy or he'll blow their brains out?
What the fuck?
