And if your losses had been gains I'm sure you'd want to also not be liable for them .. you'd want to give the profits to E*Trade, right? When you saw the extra $7K in your account why didn't you call or email E*Trade to find out what was going on? Sounds like you chose to trade with that extra $$$. So how is it their fault for your losses? Launder money .. yeah, right! Nice conspiracy theory. Market makers are out to get you too!
we have here a five page lecture here on the subject of personal responsibility which i am sure the indivdual in question will probably not think about for an ioata of a second. the correct answer is that this "honorable individual" should retain a securities lawyer. if the lawyer is willing to take the case on a contingency basis , he may have a case. what is the sum in question?
ahh...just blow smoke with the fear of the SEC fine...they will settle...just one letter from the atty for a $750-$1500 retainer..no refunds.
i said contingency basis. ( the lawyer takes a percentage of the recovered monies) no mention was made of a threatening letter for a fee.
ur all traders in here and i've been working on the street since last july and till date, i haven't met an honest trader b/c those guys don't stay in business long, so don't tell preach to me about goodness and ethics, your jobs involve pumping in at the lows and dumping at the highs and screwing other ppl like an 'honest' IB economist like myself. i'm the angel here, ur the barbarians. on a lighter note. i'm planning on an starting the arbitration process on monday. is this wrong or should I go with the lawyer, i just came out of school and still making analyst dough, so i can't really afford a good one. i just feel that if im etrade i'd rather settle and keep it on the hush or end up paying 20K to the nasd. thats my stance, i know i made a mistake as much as i know they made a mistake, the results ought to be shared equitably....no? u all must think im a dirtbag... but thats okay.