Basic Trust Blemished

Regarding Martin Mayer’s June 28 Viewpoints column, “Don’t Pity the Big Loser on Bogus Dayton Hudson Bid”:

Justifying the losses Dayton Hudson investors suffered as a result of acting on incorrect information coming from a heretofore trusted and reliable source, Dow Jones, is the height of intellectual demagoguery.

Mayer cited anonymous sources who supposedly made the right decisions based on the “knowledge” that the Stone money is only “oil money” and not available for other uses, but these words ring of nothing but mind reading or, more likely, hindsight.

The point that should have been made is that the basic trust in the markets has once again been blemished by dishonesty, and all the intellectual claptrap Mayer puts forth doesn’t change that one iota.

PAUL T. GLASGALL

Pacific Palisades