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Rumor Control

Start a rumor, pay the price. We know you love watching Wall Street and imagining yourself as the Big Swinging Dick who profited by talking up (or down) Blue Star Airlines. But that's maybe not such a good idea. Just ask Paul Berliner. Remember all that stuff about how Blackstone was revising its offer for Alliance data down? No? Well, trust us, it was a big deal at the time. Yeah, that rumor? Paul.
Makes you wonder what else he might have been responsible for. Bear Stearns liquidity? Cold Fusion? The breakup of the Rolling Stones? You never know. Could have been Paul, right? Ok, maybe not.
SEC Fines Ex-Schottenfeld Trader Over Blackstone Deal Rumors [Bloomberg]