the SEC has taken an “offhands” approach to the personal blogs of financial analysts seemingly due to relaxed regulations instituted by the feds over the past 10 years of pro-corporate favoritism. unfortunately the resulting effect has been a growing sector of analysts creating blogs to effectively manipulate the stock prices of some companies, namely Apple. targeting Apple is a very easy and especially profitable action due to their explosion in wealth and popularity worldwide over the past decade backed by their tightly enforced corporate secrecy of their product roadmap. Apple, unlike all other tech companies, effectively uses secrecy to prevent a drop off in sales of products, especially in the lead up to the introduction of successive models and to build excitement for product releases. however, this allows analysts to use bogus “secret sources” to pump out false rumors during the run-up to product releases in the hopes of manipulating the stock price. because Apple doesnt comment on future products and releases, these analysts are allowed to go unchallenged as they manipulate the stock price. their actions were clearly detailed in an interview between Jon Stewart on The Daily Show with Jon Stewart, and Jim Cramer, host of Mad Money on MSNBC.
the SEC is responsible for enforcing rules and regulations that control the financial market, and insider trading is illegal. however, the blatant manipulation of the market by analysts goes uninvestigated as long as analysts post these opinions in unofficial channels, like blogs and tweets. they blatantly spout flat out lies, under the guise of “word from unnamed insiders” or a “secret, well placed source,” to artificially increase the stock price and dump the stock for profit shortly after public introduction when the lies they sowed dont pan out.
sadly, despite the obviousness of their actions and revelation by journalists (and comedians) who choose to investigate have clearly revealed these crimes, yet the SEC fails to enforce or prosecute these actions to ensure the integrity of the financial system. worse, bloggers only contribute to these crimes by consistently reporting on these known false reports by analysts who have a history of false reporting for financial gain. it seems these wannabe journalists simply lack the integrity necessary to help stem problem.