The last time telcos when south in a big way, Mr. Grubman was singing "everything is wonderful" when he knew it wasn't (see »www.sec.gov/news/press/2003-55.htm). Instead of fronting a pump and dump scheme, maybe Mr. Moffett is working the naked short sale side of the street. In any event, history has shown that the experts' ability to move the market far exceeds their insight.
