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ЕЛН Message Board

  • bob_dylan_thomas bob_dylan_thomas Jul 13, 2000 9:22 AM Flag

    other boards' reactions

    Are starting to occur. Here is part of one long
    post on the YUM board and a second part will appear in
    a separate posting.

    message 10434, freedom of speech
    by: SteveC282898
    (23/M/Birmingham, England) 7/12/00 8:41
    Msg: 10446 of 10474
    I want to thank you Mr'the
    committee is in my head' for drawing our attention to the
    Elan 11 situation. I have spent the past two hours
    reviewing this matter and am able to report that this is
    one of the most incredible stories I can recall- the
    implications should make this a must read situation for all
    fellow message board posters.

    The whole issue
    raises many questions.

    How can people feel safe
    using yahoo message boards for what they were designed,
    when they have their freedom of speech threatened if
    they use one wrong wording or make one critical
    comment? How does one define what is allowed and what is
    not? The only 'code of conduct' ie yahoo
    TOS/disclaimer is way too cumbersome. These baord were designed
    as an informal excahnge of ideas about a company,
    not as some legally correct gospel of facts to be
    pored over by lawyers.

    Why should analysts have
    the right to express opinions which can severely
    effect a companies stock price and affect the wealth of
    millions and then also have the right to prevent their
    views being shared and criticised after they have
    released them into the public arena? are they 'above'
    criticism- can they not be held to any standards?

    a huge corporation really so impotent that they
    cannot defend their actions by pointing to performance
    graphs or admitting occasional errors and have to try to
    'gag' and intimidate individuals by using their vast
    financial resources to start mega law suits which few
    individuals could hope to have the resources to

    Why doesnt yahoo better police the boards for obvious
    TOS violations and enforce a more rigorous code of
    conduct? if CSFB can sue for libel, will we soon see
    individual posters sueing each other for libel over message
    board disagreements? where will it all end? Does CSFB
    really believe that people all take evry post they rad
    on a message board as gospel and are unable to
    dissiminate information and make their own judgement call on
    what is fair and what is not? Do we really need the
    message board police and money hungry legal teams a la
    Soviet Union to rule these public forums with the threat
    of ruin hanging over anyone who steps out of line
    and criticizes what they belive is a bad call by a
    broker or bad performance by a company?

    If anyone
    thought people such as myself and razor were being
    paranoid when we have suggested in the past that these
    boards are monitored by companies/influential people,
    then this story and other recent tales of bashers
    being sued should shake off this complacency.

    the posters had been residents of Iraq posting from
    within that country rather than US and Irish citizens,
    would they have been allowed to get away with the same
    or worse comments to the ELN board while the US
    citizens were traced and sued for a million dollars each?
    The information would still be available for people
    to read the same wherever the poster's origin?
    surely in an intenet world old laws/legal conformities
    are largely out of date/ need major modification. How
    can murderers and psychos be allowed to walk the
    streets while people who in the vast majority of their
    posts concentrated on giving top quality info to fellow
    investors regarding a stock, face ruin? (continued)

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    • (by Steve on the YUM board)

      So many
      questions, so few answers- i'd love to read anyone elses
      views on this matter. Sorry to stray off topic again,
      but I think this is a matter of some urgency for
      anyone who uses the internet or truly believes in
      freedom of speech to consider?

      My personal
      response to all this- well let's just say I won't be
      requiring CSFB's services anytime in the near future- some
      of the posts by people on the ELN board may well
      have been out of order/poorly phrased/erroneous/overly
      critical and perhaps should have been deleted by yahoo or
      had the offenders nudged to be more careful about
      future posts- but this is ridiculous. These investment
      banks and brokers have almost all of the odds stacked
      in their favour especially after this long bull
      market, most of them are rolling in dollars- often gained
      through mediocre performance, yet a company still feels
      the need to use all of their might to try to frighten
      the little men and put themselves on some apparent
      plane of excellence where their research is the work of
      god and cannot be debated- Perhaps the brokerage
      industry should be asked more questions, like are they
      personally faithfully holding all the stocks they rank as
      'holds' and why they regularly downgrade stocks only
      after they have already lost half of their value or
      more? oh sorry i forgot, the truth can hurt can't

      But at the end of the day, it is us the individuals
      who are responsible through our actions in day to day
      life, through our investments in mutual funds,
      companies and our purchases and jobs, who make these
      companies the titans that they are- and they should at the
      end of the day be answerable to us- their
      stockholders (either directly or through index linked/managed
      pension funds) and customers. We should make it clear to
      them( ie the likes of CSFB) when they have gone too far
      and abused their position of trust and power, either
      by boycotting their products and services or writing
      to management at the companies or by voting against
      them at shareholder meetings.

      I'm thinking
      about posting a message of solidarity to our fellow
      message board posters on the ELN board to wish them luck
      in their fight for freedom. Nothing major, just a
      gesture of support, and my cheque will be in the post too
      if this does turn to a trial- What do you all

      It sure is some story, and i'm convinced that this
      is very much all about freedom of speech and the
      first amendment. Is the USA about to join the failed
      dictatorships of the world and effectively allow freedom of
      speech to be stifled and to force people who want to
      express their own humble opinions in what they thought
      was a free and self enforcuing debating forum to live
      in fear of reprisals? I certainly hope not. America
      is great- remember July 4th and all of the wars-
      remember what America fought for, because the very
      principal is being challenged right before your very eyes
      by a major foreign banking/broking

      Now i must stop and go to bed because im starting to
      sound like kahlmy! lol

      Take care all, and enjoy
      your freedom. It's precious.