Unbelievable. Actually, par for the course. I guess a few people may need to apologize to Mr. Scanshift.
From what I saw a couple of years ago in the daytrading arena, it's very dog eat dog. The rooms (daytrading firms) need you to churn. If there's a glitch, you eat the loss. They refuse to institute protection against margin calls, something the computer is perfectly capable of doing. What's the big deal, 2X margin, you can't buy over that amount. Period. Why should a finger slip, or being in the wrong window cost you a $50,000 headache?
The whole ARCA deal sounds really fishy from this end. Maybe they want to go legit from here on in, but there may well have been some strange business in the past. Can't say first hand.
I you knew some of the *early* ISLD stuff that went on, you'd all wet your pants. I saw it. Now they are 'sqeaky' ;} |
