Word: cons
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Dates: during 2000-2009
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...boxing quarterfinals, there was a moment when I realized the Cold War is not only history, it's cold history. In the space of a half hour I saw Jeff Lacy, the American armed robber turned 165-pound contender, stopped by a Russian, then our 201-pound ex-con, Michael Bennett, stopped by the brilliant Cuban, Felix Savon. The crowd was very evenhanded and it wasn't until I was on my way out that I realized I had just watched two of our guys lose to a Russian and a Cuban. We used to be able to work...
They used to just look like kids, these rogue traders, boiler-room con artists and Internet scamsters possessing just enough knowledge about the stock market to fleece anyone who would listen. Now they really are kids...
...great evidence, and it's easy to find people," says the SEC's Stark. "Internet con artists may try to hide behind multiple screen aliases, but most computers leave their own electronic footprints that are relatively easy for experts to track...
...con to work, it must be done out in the open where investors will see it and throw money at it. "You want people to find you," Stark says. "You want them to read your information." That's what makes the stock go up, but it also makes you easier to find. Lebed may have got away with his schemes for a year, but others have been identified within days. In the Emulex case in August, Jakob was targeted within hours of his phony press release. Hoke, an employee at PairGain Technologies, was nabbed just a week after his bogus...
...Smith, a Houston oil executive. He upgraded his computer five years ago specifically to dump his broker and trade online. He checks the financial Web postings and tunes in to chat sessions on the market. But he also does his own research and notes that the hype-and-con element of Wall Street isn't just online. "Highly paid analysts hype Internet stocks with outrageous price targets, then drop their estimates," he says. "I am sure they get their firms out of a position before they drop the bomb on the rest of the investing public...