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TM_Direct

Registered: Oct 2002
Posts: 5242

04-14-08 08:00 PM

Quote from NazSpaz:

They have to let all these guys open a business, they all became criminals after they were up and running and got greedy. But the reason we know about them is they got caught, if they were unregistered they would have done the same things or worse but would probably be on a beach instead of prison. Don't see how this supports your argument that unregistered and unregulated is better. [/B]

I never said unregistered was better....its not all its cracked up to be...

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NazSpaz

Registered: Mar 2008
Posts: 211

04-14-08 08:01 PM

Quote from zdreg:

.
"There are laws in this country that if you want to handle/invest the public's money you have to tell the SEC you exist and open your books for random inspection to make sure you are not a ponzi or some other scheme."

not true.
under your definition every hedge fund would be subject to sec inspection.

tuco was acting like a broker because it was charging its members commissions.
only broker dealers are allowed to charge commissions.
the sec concluded they were acting as an unregistered broker dealer.

tuco also performed other actions which
made them look like they were broker dealers which would subject them to registration.

You are correct, I should have specified I was only referring to trading firms - broker/dealers. I know hedge funds have some way around that but am not versed on what they do. But have also heard like TM that they soon will be under scrutiny.

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ratboy88

Registered: Dec 2003
Posts: 6163

04-14-08 08:07 PM

Quote from TM_Direct:

Thats what I said...No rule on Wall st. gets passed without their approval..and they often get finra to pass rules to eliminate small frims..

ok.. that has been my thesis since i have been in trading.

but lets apply this to the real world. Tuco had not harmed any of it's traders. the harm came from the government. why do the SEC and the receiver use cryptic language to defend their dirty work?

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reg

Registered: Mar 2001
Posts: 881

04-18-08 01:33 AM

Quote from bandit:

For those waiting on the cash. By Wednesday this week there may be a "Break in the Case". New info, and the reciever may get a big stick up his AR#$. Stay tunned and keep your fingers crossed. Things just might go our way.

Bandit

Any word yet regarding this "break in the case"?

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ab443

Registered: Mar 2008
Posts: 14

04-18-08 03:37 AM

Has anyone heard anything new at all? Spoke with Lennon last week ..he gave me the usual bs

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gptrader

Registered: Mar 2008
Posts: 145

04-18-08 04:37 AM

He was suppose to update by the 15th. Looks like he hasn't milked this enough yet. Where are you Mr. Lennon?

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