SEC Makes a Boneheaded Call on Social Networking

The SEC has just given companies carte blanche to issue important news announcements on their Twitter and Facebook (NASDAQ: FB  ) feeds -- maybe even on Google's Google+ service, if anyone still uses that. 

On the one hand, this is a bonanza for the social networkers, who can expect to reap big business from more active use of their sites. It's also good news for corporate PR folk, who can reach more customers and investors through social media -- not just with corporate news, but with corporate advertising.

But what does it mean for you and me, the ordinary investors of the world? Fool contributor Rich Smith explains...

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