Securities & Exchange Comission employs "fake locators" to teach lesson

[LM]

Securities & Exchange Comission employs "fake locators" to teach lesson

I just remembered this the other night and felt it appropriate to post here. This was a pretty popular 'education tool' in the investing world about 8 years back. Unfortunately, the the SEC stopped maintaining the site as of literally 7 days ago but there's plenty of online chatter out there about it. Google McWhortle.com.

Now, for the first time, McWhortle Enterprises is offering a product to the general public: the new Bio-Hazard Alert Detector. Running quietly on two double-A batteries, the Bio-Hazard Alert Detector emits an audible beep and flashes when in the presence of all known bio-hazards. The Bio-Hazard Alert Detector, measuring only 3 by 7 inches, is small enough to slip into a man's jacket pocket, a woman's purse or a child's backpack.

The basic idea was that a totally fake company and a totally fake device could be presented in such a way that people would 'believe' in what they were saying and invest in the scheme. They (SEC) employed the same fradulent sales tactics that LRL and other purveyors of bogus wares like to use (citing psuedo-scientific jargon, making great claims of high performance, naming "agencies" and "governments" that use their device, etc, etc).

The problem was, none of it existed... The idea was that by the time you click through to learn more about their IPO, there was a lander page that warned the entire thing was a hoax and how you should be careful of what you believe in since science had yet to invent such a device...

Here's an article on the SEC effort to educate how easily people can be steered astray.

http://www.ethicsscoreboard.com/sites/0407_mcwhortle.html

 

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[fenixdigger]

Re: Securities & Exchange Comission employs "fake locators" to teach suckers lesson

Good post. This is why it is important to have critics and hear their concerns. That said, these critics must have an open mind to the fact that there are "exceptions " to almost every rule, to be useful, or they simply become obsessive crackpots.(usually sort of hateful and angry)

 

[aarthrj3811]

Re: Securities & Exchange Comission employs "fake locators" to teach lesson

Very sad story SWR. Are you trying to tell us that our government is out of control ?..Art

 

[Felinepeachy]

Re: Securities & Exchange Comission employs "fake locators" to teach lesson

[mod] If you disagree with another member's post, make your comments in a polite and respectful manner. As long as you can do that, feel free to voice your opinions as much as you like. [/mod]

 

[Ted Groves]

Re: Securities & Exchange Comission employs "fake locators" to teach lesson

It is unethical to mislead people with a "play on words".

Then will you be leaving the forum soon?

PWYPB!

 

[EddieR]

Re: Securities & Exchange Comission employs "fake locators" to teach lesson

Don't worry.

I'll be sure and give you a Heads Up, Darlin'.

Heads up.....an award is coming!!!!

 

[Real de Tayopa Tropical Tramp]

Re: Securities & Exchange Comission employs "fake locators" to teach lesson

Hi : I see that ted is playing close to forbidden data in his posts. May I ask him formally just what his 'PWYPB!' represents in plain english so that I may refer to it in the future as his explanation. I would hate to think that he was using letters to post obscene words, which is strictly prohibited..

Don Jose de La Mancha

 

[Saturna]

Re: Securities & Exchange Comission employs "fake locators" to teach lesson

Please Would You Phone Babe ?

 

[EddieR]

Re: Securities & Exchange Comission employs "fake locators" to teach lesson

Hi : I see that ted is playing close to forbidden data in his posts. May I ask him formally just what his 'PWYPB!' represents in plain english so that I may refer to it in the future as his explanation. I would hate to think that he was using letters to post obscene words, which is strictly prohibited..

Don Jose de La Mancha

He probably won't answer that question.....

 

[Real de Tayopa Tropical Tramp]

Re: Securities & Exchange Comission employs "fake locators" to teach lesson

evening my buddy the Randi Sat: you posted-->Please Would You Phone Babe ?
************
noyflwidthhh. <-- guess. he he he he

Don Jose de La Mancha

 

[aarthrj3811]

Re: Securities & Exchange Comission employs "fake locators" to teach lesson

~JudyH~

I believe he was asking me to post his bond.

I have some loose change I will loan them

 

[aarthrj3811]

Re: Securities & Exchange Comission employs "fake locators" to teach lesson

Since all Random Chance odds are based on coin flips I would guess 50/50 odds..Art

 

[LM]

Re: Securities & Exchange Comission employs "fake locators" to teach lesson

It appears the SEC has renewed the domain name out to 2016 and gotten the McWhortle site back up and running...

http://mcwhortle.com/

 

[Rudy(CA)]

Re: Securities & Exchange Comission employs "fake locators" to teach lesson

Since all Random Chance odds are based on coin flips I would guess 50/50 odds..Art

Art, you are demonstrating how little you know about random variables and statistics. Not all random chance events are based
on the outcome of coin flips.