Sec Hunting for Steve Jobs Rumor Starter

I'm sure by now we all have heard about the Steve Jobs so called "heart attack" was just a rumor. The Securities and Exchange Commission is investigating “Johntw,” the as-yet unidentified rumor mongerer who briefly drove Apple stocks down nearly 10% Friday before Apple PR finally broke its silence and let it be known that Steve Jobs had not, in fact, suffered a heart attack?

Rumors are not uncommon for Apple, there have been negative and positive for the company. CNN says it is cooperating with the investigation, giving the SEC what information it has about Johntw (most likely limited to an IP number and an e-mail address), and it is possible that the Feds will get their man. Or woman.

I think if someone knowingly starts a rumor or passes on a rumor, they should be punished severely. This is even worse than insider trading. This is deliberate and malicious destruction of value and people’s lives. I hope the SEC gets this "Johntw" and make him an example for all those who find the need to start rumors.



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