You will find listed in chalk on this board such items as "Laborers, company, country, $3.75; Wood Choppers, 4 ft. and stove wood, $2.50-4.50 2.50-4.50remen, cordtry, $45-65, fd.; Lead Burner, Choremen $8".
(Photograph: Turkey Sandwich on Wheat, by fd).
FD In the world of large-scale supermarkets, pretty produce rules.
And one of his last acts, known as Regulation FD, which requires companies to disclose market-sensitive information to everybody in the market, preventing them from discreetly briefing analysts, remains highly unpopular on Wall Street.
Yet, despite the fact that its rules forbid giving some shareholders more information than others, there have often been breaches in practice.That is just the kind of thing America's Securities and Exchange Commission was aiming to stamp out when it created Regulation Fair Disclosure (FD) two years ago, with heaps of new laws to ensure proper disclosure of "material information".
And those favours appeared to sway their recommendations to their clients.According to Regulation FD (for Fair Disclosure), adopted in 2000, any company information given to one analyst must be made available to all.
However, this goes against the SEC's recent Regulation FD (fair disclosure), which requires that no investor, however big, receive corporate information before others.
Since it took effect earlier this year, Wall Street has been complaining endlessly about the cost of compliance with Regulation FD and claiming that it has resulted in a less well-informed market.
The first time FD 26 was counterfeited was only a few months after the original appeared, and it has been bootlegged many times since.Grant McKinnon, a poster dealer in San Francisco, explains that in the rock'n'roll field, many of the original artists, printers and negatives are still around, so primary-source knowledge is fairly easy to come by.
Though promising that there will be prosecutions, Mr Pitt thinks that regulation FD falls short, because it allows firms to "tell everything to everybody, or nothing to anybody".
