Posted on 10/27/2009 4:34:08 PM PDT by Rufus2007
Recent problems with the financial system could be used as a reason for regulators to have authority policing social networking sites like Facebook and other types of electronic communication like text messaging. If Financial Industry Regulatory Authority (FINRA) CEO Richard Ketchum has his way, that's exactly what will happen.
Ketchum appeared on CNBC's Oct. 27 "Closing Bell" in an interview with the network's NYSE floor reporter Bob Pisani from the Securities Industry and Financial Markets Association (SIFMA) annual meeting in New York City. Ketchum explained how the Internet and text messaging are unconventional means of communication that pose problems for regulators.
"With all of our kids, they don't talk by phones or certainly directly to each other anymore," Ketchum said. "They talk through the Internet and they talk through text messaging and they talk through Facebook."
...more (w/video)...
(Excerpt) Read more at newsbusters.org ...
Tough. This means that some 35k clerk could spread the word in seconds of a brewing scandal or earnings news.
It could get a jump on the big insiders who get the benefit now.
Of course no one knows how good any of those tips spread on the new social networks are..puts a lot of spice in the picture.
“Of course no one knows how good any of those tips spread on the new social networks are...”
See post 3 :)
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