Friends Don't Let Friends Buy Stocks - Look at State Street [View article]
This was panic on a false rumor that STT was a major holder of the 'bad stocks,' when in fact they are a custodian bank, and so appear near the top of unsophisticated lists of major holders despite that they hold these securities on behalf of funds and institutions. As stated above, in the release, "The company is often reported to be an owner of many issuers because of its position as a large custodian and a large index fund manager."
Friends Don't Let Friends Buy Stocks - Look at State Street [View article]