You're showing yourself to be hopeless. What you're describing is the obvious conflict of interest inherent in the current governance structure that allows the NYSE to police itself. Did you read the link to the NYSE website I posted? You contradict what the NYSE says about itself in calling itself a regulator and a protector of the public interest, which is exactly its supposed role under federal law. You sound like a guy who studied for the series 7 and thinks he knows a lot. I think I know a few things about administrative law and securities regulation, and even about Wall Street. I worked for a large white shoe law firm and went to law school right across the street from Washington Square Park. You probably don't know the school and you're too stupid to look it up.
Well tea-bagger, if you went to NYU and knew securities law you would understand that im not describing any inherent conflict...You are....Im stating that the NYSE was founded by members and is run by members.....for their own benefit first and foremost.....as for the 'regulatory arm" each sro has one....thats why you have NASDAQ and NASDR.........You know nothing about securities laws or the set up ...first of all, the NYSE can make its own rules regarding margin, payment, and things like shorting on a down tick.....their rules not the SEC...NYU is mostly rich gay kids who couldn't get into Columbia,....so how' the paralegal job? couldn't pass the bar huh?....don't worry it took JFKjr 6 times to get it.
place your Grasso trades now!!!!! http://www.tradesports.com/ and also from: http://money.cnn.com/2003/09/15/com...stler/index.htm "Probably most important to investors is his role as overseer of the exchange's traders. Whenever they dance around the rules, it's Grasso's job to get them back into line. And it turns out he's getting paid pretty well for the work ... about $140 million, in fact. That includes retirement benefits and incentive payments over his 36-year career at the exchange. Who set that payment? The stock exchange's board, which includes the folks who employ the traders. To put it bluntly: the regulator is being paid an astronomical sum which is set by the regulated."
You're fortunate it's slow before the FOMC announcement. LOL. One final post and you're on your own. What is the "regulatory arm" of the NYSE? Uhh, how about the NYSE. Idiot. I passed the New York State Bar Exam on my first try. Thanks for asking. P.S. It's not correct to call the NASDAQ an SRO. The NASDAQ and NASD are SEPARATE entities - i.e., the NASDAQ is NOT self-regulated. This is my final bit of educating you. Otherwise, I'll have to charge you billable hours and you obviously can't afford those with all your trading losses.
You are a serious knuckle head you know that?????? You are arguing nothing.....I never said they were not regulated....what are you talking about? All i ever stated was that they are not a government entity....you are arguing for the sake of arguing....you must be a good attorney....cover up the evidence by arguing over it... one more time for the record and if you do not get it you should be disbarred: 1) They NYSE is an SRO ( about the 5th time ive said that to you yet you just made the point of stating that they were self regulated ) 2) despite what you may read on the mission statement, they are a private company whose # 1 purpose is to make money for it's members ( the same way MSFT sells software make $$ for its shareholders) you with me so far???? Good 3) They make up their own rules for listing, for trading and a variety of other things,,,,,they only have to ensure that they are incompliance with the basic rules of the SEC, but they can decide among other things to require higher margin, shorting or not shorting on a downtick certain stocks, fees , settlement ect.... what don't you get about what i've said???
well that answers my question.....GO BACK AND READ ....you are so anxious to argue that you did not read what i said.....i said "NASDAQ has NASDR" NASDR= NASD Regulation you gotta get glasses buddy,,,seriously, no hard feelings but your blind...
Nice press conference by Phil Angelides, the California State Treasurer asking for Grasso's resignation. He made an interesting point regarding Grasso's $5 million dollar BONUS for dealing with 911 and getting the NYSE back up and running quickly: "Rudy Guliani did not get a bonus for doing his job after the tragedy of 911" "No fireman or police officer that I know of received a bonus for doing his job on 911". But Grasso receives $5 MILLION FOR JUST DOING HIS FREAKING JOB! Give me a Break.
uHMMMM.....Isn't Cal. facing bankruptcy and an 18 billion deficit???? and the treasurer is calling for grasso to resign??? can you say kettle?????
Of the $122 million in pension fund benefits that Grasso received, $100 million came in the last 6 years. I know of no one in the world that is able to see his pension benefits ACCELLERATED and receive those benefits BEFORE THEY RETIRE. So what then is the "incentive" to stay on? Answer: ZERO