Comments on: Macquarie plunges as Rupert’s hacks sink the knife http://www.crikey.com.au/2008/09/18/macquarie-plunges-as-ruperts-hacks-sink-the-knife/ now with extra source Sun, 22 Nov 2009 04:36:07 +1100 http://wordpress.org/?v=2.8.6 hourly 1 By: Venise Alstergren http://www.crikey.com.au/2008/09/18/macquarie-plunges-as-ruperts-hacks-sink-the-knife/#comment-18322 Venise Alstergren Thu, 01 Jan 1970 10:00:00 +0000 #comment-18322 Frank Birchall: Yes, I agree with your sentiments. However, what about the poor bloody shareholders? Fortunately, I sold the shares before all this nightmare news. But there must be an awful lot of people out there who are very, very concerned.<br />BTW: Frank, I notice that there appears to be an awful lot of 'short selling' going on. Wasn't this legally forbidden some years ago? If not, why not? Or are the 'short sellers' merely more crooked American companies? Frank Birchall: Yes, I agree with your sentiments. However, what about the poor bloody shareholders? Fortunately, I sold the shares before all this nightmare news. But there must be an awful lot of people out there who are very, very concerned.
BTW: Frank, I notice that there appears to be an awful lot of ‘short selling’ going on. Wasn’t this legally forbidden some years ago? If not, why not? Or are the ‘short sellers’ merely more crooked American companies?

]]> By: Peter http://www.crikey.com.au/2008/09/18/macquarie-plunges-as-ruperts-hacks-sink-the-knife/#comment-18323 Peter Thu, 01 Jan 1970 10:00:00 +0000 #comment-18323 Regardless of the standard of journalism, shouldn't the real culprits be the one's coping the caning. That is the over-reacting fund and hedge managers that trade in rumour and ineuendo rather than due dillegence. Regardless of the standard of journalism, shouldn’t the real culprits be the one’s coping the caning. That is the over-reacting fund and hedge managers that trade in rumour and ineuendo rather than due dillegence.

]]> By: Frank Birchall http://www.crikey.com.au/2008/09/18/macquarie-plunges-as-ruperts-hacks-sink-the-knife/#comment-18324 Frank Birchall Thu, 01 Jan 1970 10:00:00 +0000 #comment-18324 I agree that for a stockbroker analyst and/or the media to state falsely that a bank has to refinance borrowings of $45 billion in the next 6 months is reprehensible in the extreme. In fact, it should be criminal for the individuals and their employers to do so. It is tantamount to causing death and injury in a crowded theatre by falsely calling out "Fire!" Should such reprehensible statements result in heavy financial loss to stakeholders, the culprits should be held accountable and punished appropriately. I agree that for a stockbroker analyst and/or the media to state falsely that a bank has to refinance borrowings of $45 billion in the next 6 months is reprehensible in the extreme. In fact, it should be criminal for the individuals and their employers to do so. It is tantamount to causing death and injury in a crowded theatre by falsely calling out “Fire!” Should such reprehensible statements result in heavy financial loss to stakeholders, the culprits should be held accountable and punished appropriately.

]]> By: Frank Birchall http://www.crikey.com.au/2008/09/18/macquarie-plunges-as-ruperts-hacks-sink-the-knife/#comment-18325 Frank Birchall Thu, 01 Jan 1970 10:00:00 +0000 #comment-18325 Venise, I used the term "stakeholders" to ensure inclusion of creditors, employees and others as well as shareholders. As a shareholder myself, I certainly had not overlooked them! I am not an expert on short selling but it is legal and I agree a lot of it has been going on. According to the media, hedge funds are major players. As such they have a vested interest in targeting a vulnerable (e.g. highly leveraged) company and cashing in on a downward price trend via short selling. The ASX has a discussion paper on the subject at http://www.asx.com.au/about/pdf/short_selling_public_consultation_paper.pdf Venise, I used the term “stakeholders” to ensure inclusion of creditors, employees and others as well as shareholders. As a shareholder myself, I certainly had not overlooked them! I am not an expert on short selling but it is legal and I agree a lot of it has been going on. According to the media, hedge funds are major players. As such they have a vested interest in targeting a vulnerable (e.g. highly leveraged) company and cashing in on a downward price trend via short selling. The ASX has a discussion paper on the subject at http://www.asx.com.au/about/pdf/short_selling_public_consultation_paper.pdf

]]> By: PAmela cox http://www.crikey.com.au/2008/09/18/macquarie-plunges-as-ruperts-hacks-sink-the-knife/#comment-18326 PAmela cox Thu, 01 Jan 1970 10:00:00 +0000 #comment-18326 xxxx xxxx

]]> By: engineer http://www.crikey.com.au/2008/09/18/macquarie-plunges-as-ruperts-hacks-sink-the-knife/#comment-18327 engineer Thu, 01 Jan 1970 10:00:00 +0000 #comment-18327 Frank,<br /><br />Whatever happened to the term "stakeholder" after it was coined? It properly means a person who is sufficiently trustworthy to be accepted by both sides of a wager to hold the cash while the race is run. Frank,

Whatever happened to the term “stakeholder” after it was coined? It properly means a person who is sufficiently trustworthy to be accepted by both sides of a wager to hold the cash while the race is run.

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