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Non-Tech : Traditional brokers/SEC conspiracy
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To: Wiselight who wrote (21)9/17/1999 2:10:00 AM
From: nick nelson  Read Replies (2) of 104
 
sec.gov

Apparently the trading desks at ever broker-dealer and market-maker in the Country have not been "Day Trading" for the last 40 years?

I have to laugh at this guy... he is the problem. We have this problem because the SEC and Mr. Levitt have failed the retail investor repeatedly for the past 40 years. And here he is again, before Congress, saying the "retail investor" must change.

Is Artie Fagan saying:

"We, the SEC", have demonstrated over and over again that "We, the SEC!" can not get the market-makers and big brokerages to "play-by-the-rules" therefore we must pass laws to "prejudice" retail investors' opportunities in the marketplace - we will simply destroy retail investors ability to trade in fair markets and thereby gain, through their attrition, a "back-door" method of using retail investors to do what "We can NOT do - stop Wall Street from destroying America!".

Just getting rid of options, indexes, and program trading would accomplish this MUCH EASIER... the valueless money churning mechanisms that have turn the market place into the "Worlds Greatest Side-Show!"

IMO - why did the SEC "just discover?" that they they have non-compliant brokers - is it because they have totally failed under Mr. Levitt's chairmanship to "Be the Investor's Advocate!" or is it because the SEC, is and always has been, the broker-dealers,
market-makers, and the "Money Lenders" advocate.

Just one opinion - other interpretations welcomed?
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