PracticeConsultingPeers fear dot.com boom has turned stock market into a casino

Peers fear dot.com boom has turned stock market into a casino

The government has rejected calls in the Lords to intervene to haltfevered investment in dot.com companies, which peers described as 'casino-like' and 'Stock Exchange farce'.

Deputy chief whip Lord McIntosh of Hariney agreed there was ‘huge resentment’ at ‘casino-like’ gambling from ‘those who devotetheir lives to public service’,but the government would not second-guess the stockmarket.

He was commenting on concern over the social and economic impact of themeteoric rise in stocks involving internet companies and others in the high-tech sector and the health warning issued by Financial Servies Authorityconsumer relations director Christine Farnish.

Feature: The rise of Brit.com

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