The Trial Of Henry Blodget
from the why-he-should-go-on-trial dept
Forbes is running an article saying that, while it’s unlikely to happen, Henry Blodget should go on trial. Right now the National Association of Securities Dealers (NASD) is investigating Blodget, who they’ll probably fine, which he’ll pay out of his pocket change. They will also probably ban him from working in the industry again (as if he needs that with all the money he cashed out with). Anyone else find it amusing that NASD is only getting involved now? The article argues, though, that Blodget should go on trial – not necessarily to punish him more but to bring out a lot of the issues that need to be discussed. The writer is also curious to find out just what the hell Blodget was thinking on some of his calls (which are described as being usually “half right”). However, the chances of it happening are pretty slim. While it could make Blodget look bad, it would (more likely) make lots of other people look very bad as well – including his former employers and all the investors he suposedly “duped” who didn’t seem to heed any of the cautions he put in his research notes.
