Yahoo To Lose Credibility
- Posted on: Jan. 18, 2008
- 19 Comments
So Yahoo is launching a financial show with Henry Blodget. This is a guy who was banned for life from the SEC. Great move huh? Let’s hire a guy with no credibility at all who was banned for life to do a financial show. On top of it he looks like Danny Bonaduce.
In 2002, Eliot Spitzer published Merrill Lynch e-mails in which Blodget allegedly gave assessments about stocks, which conflicted with what was publicly published.[4] In 2003, he was charged with civil securities fraud by the U.S. Securities and Exchange Commission. He settled without admitting or denying the allegations and was subsequently banned from the securities industry for life.
Posted in 1938 Media, Dishonest, Dopes, LiarThe trouble for me here is that part of me believes that Henry Blodget ought to be in jail. He made millions of dollars doing something he knew to be corrupt.
Why would Yahoo do this? Because Yahoo is stupid. That company has been irrelevant for a long time now.
ReplySadly, assholes/crooks like Blodget are still kind of revered in financial world - because 20 years after motherfuckers like Milken got away with bilking BILLIONS from the market, 7 years after Enron, people still want to believe that they can cheat the market without having anything bad happen to them.
I indirectly blame Oliver Stone - I mean, it’s not his fault that audiences are too fucking stupid to understand that Wall Street was a condemnation of the market (or that people like Blodget, Milken, Bovsky, Lay, Fastow, Skilling, etc. are actually the most anti-capitalist mofos out there because they aren’t working in a free market but one that is fixed to their benefit), not an endorsement of “Greed is good” — but that film’s influence has had the largely opposite intended effect.
It’s why I didn’t get my degree in Finance, despite only having two credits to go, and switched majors. Disgusting.
ReplyThis is analogous to Fox Sports hiring Pete Rose to do a baseball show on its website. Maybe a blogger uproar will cause Yahoo to cancel this foolishness sooner than later.
ReplySomehow I just can’t equate supposed egregiousness of Pete Rose doing a baseball show to the prospect of Blodget giving people “sound” financial advice.
ReplyYahoo giving Blodget this platform to provide his insights about the markets is almost as bad as Republican primary voters giving an unenthusiastic, stiff and way-past-his-prime candidate like Fred Thompson a platform to seek the presidency against a younger, hungrier and harder working candidate like Barak Obama. Neither make sense.
ReplyYeah. Except for the fact that Fred wants to keep us a free republic, and Obama will turn us into a downtrodden socialist dirthole, you’re dead on.
Hint: Republicans don’t like big government.
ReplyRepublicans pre-2000 didn’t like big government. The current administration, operating until last year with a very compliant Republican majority in both Houses of Congress, has presided over the largest expansion in government with regards to personnel, spending and intruding upon our privacy since the 1930s. As Bush once famously babbled, “The era of big government being over is over.”
Replyslight modification: *Genuine* republicans don’t like big government.
ReplySave the political shit for another post please. Does it have anything to do with what Im fucking talking about?
ReplyNo. My apologies. I didn’t take it there. just defending myself.
ReplyNo need to apologize Art. You know I love you kid, was just hoping that people would talk about what an asshole Blodget is.
ReplyWell, it’s kinda redundant for us all to do that right? I mean everybody you talk about on here is pretty much an asshole, right? I mean what can we say? We all know he’s an asshole, and it might be kind of boring if every comment on here was some shade of “You’re right, Loren, is an asshole. Fuck that guy!”
See what I’m saying?
This is a cool blog. I like it here, and I don’t even really read blogs. Because generally, the only opinion I really care about is mine
Truth be told bro, I generally don’t care about 95% of the stuff you talk about, but you make it entertaining, and I like YOU. Yeah I talk politics. its just what I do. I do like tech a lot, but sadly, I find politics to be more honest than tech punditry. Web2 is nothing but a bunch of economy-wrecking psycho-babble for the most part. You’re the only one of the bunch I can stand, bro
I’ve had people try to get me to tech blog, but I think I’d rather sweep floors than do that. (Which would be interesting, since I have cerebral palsy and *can’t* sweep floors.)
Just try not to become one of those guys who leaves his blog open to comments but then gets ticked because he doesn’t like the comments he gets. That’s an easy trap to fall into, and you’re definitely on a higher level than that. Keep bringin’ it, man.
Replyoops that should say “You’re right, Loren, -blank- is an asshole. Fuck that guy!â€Â
the blank got eaten.
ReplyAwesome Art, I’m with you bro.
ReplyI LIKE ART!
I was good this time Loren very well behaved
ReplyYes you were Tiga, and Yes I like Art as well.
ReplyThanks, Tiga
ReplyThis reminds me of when Michael Milken was also “banned for life” from trading back in the late 1980’s. Only people don’t usually use Michael in a high profile thing like this, but they still use him to broker deals in the background as a “consultant.”
You have to be a type-A worthless scum to work on Wall Street and in the financial industry though.. I think it’s a requirement to be hired or something..
ReplyWell, karma is a bitch, and it always happens. It might take a while, but it happens.
Milken got cancer. That sure turned him around fast.
I am still surprised no one took at a shot at Bloddgett or Meeker during the bust. You know enough people lost their retirement funds from listening to those two.
Reply