what is happening at pfg is an outrage and i do not know the political leanings of this firm but i find it interesting how when things are good people hate regulations and clamor to kill them. then something happens to them and what is the first thing they call for. more regulation. something that i agree is needed. http://managed-futures-blog.attaincapital.com/2012/07/10/pfgbest-broken-promises-shattered-trust/ MF Global had us angry, but this time, itâs personal. Our clients have money with PFGBest. We have money with PFGBest. We were misled by senior leadership that we trusted in business. We were let down by regulators. We were failed by our government.
Right lesson learned. regulators can't stop illegal activity. you can put 1,000,000 laws on the books, and you WILL NOT stop the next madoff. criminals don't give a shit about the law, regs just hurt everyone that is playing by the rules.
what you probably should say if you were to take the time to think about it is self enforced regulations cant stop illegal activity.
seg funds, plain and simple. you touch, you go to jail. Whats the problem and why isnt corzine in jail for theft? If the manager at your local bank grabbed money out of the vault and smoked crack with it, he'd be in jail. I dont' see the difference.
I watched the CNBC specials on Madoff and Allen Sanford and the investors were whining how could the government let it happen and the government should pay their losses.I have no proof but my guess is they were all republicans
Why would that be what i should say? They only 'self-regulate' to please the feds anyway. My point was crime can't be prevented. However as the last poster pointed out, it can be punished. Make the common law penalties/sentences much more harsh and you will get people thinking twice about fucking over their clients.
why is that your guess.. because the majority of the dem base is broke and living off the govt? They should be crying, their taxes are wasted on regulators that are completely ineffective, and for like registered traders, as an example, have to pay sec fees and finra fees etc. What's the point when they are always behind the 8 ball.. or blowing 8 balls up their noses and wanking it in their offices? Just get rid of the sec, no one will notice a difference.
lol when i saw that comment i was thinking the exact same thing..... ak's post might be one of the dumbest i have ever seen on elite trader and that says alot.....