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Pastimes : Brokerage-Chat Site Securities Fraud: A Lawsuit -- Ignore unavailable to you. Want to Upgrade?


To: Dave O. who wrote (1308)6/29/2003 1:09:19 PM
From: Graystone  Read Replies (2) | Respond to of 3143
 
Lotteries, casinos ?
or
Investing.

Have you ever bought a lottery ticket in a lottery that had no prize ? Have you ever gambled with a person who cheats ?
When you deal with an investment advisor or a broker you are not buying lottery tickets, nor are you being dealt a poker hand. Your broker has a duty that exceeds the commission. Mr. Asser's assertion is a simple one, the brokers and advisors that he dealt with were seeking commissions and were making recommendations to clients based on obtaining commissions, no other motive.

I expect barkers at the fair, if Mr. Asser's contentions are correct, his brokers were nothing short of barkers, pitchmen selling the latest piece of plush to the marks.



To: Dave O. who wrote (1308)6/29/2003 2:20:51 PM
From: CountofMoneyCristo  Read Replies (2) | Respond to of 3143
 
I suppose people who have played blackjack, roulette, slot machines, etc. and lost money could sue the casinos since they have a statistical advantage as far as winning and thus one could assert they are trying to financially harm the public.

I am pleased you raised that analogy. Now, if a casino owner puts a magnet in the roulette wheel and marks the decks used for blackjack he goes to jail. Or do you think that is OK, too?



To: Dave O. who wrote (1308)7/2/2003 10:52:10 AM
From: Yogizuna  Read Replies (1) | Respond to of 3143
 
>>>> Is it a FACT that YOU chose to buy and sell the securities you traded over whatever time period you apparently lost money? <<<<

This question is "null and void" in this case if Olivier is telling the truth, because yes, he "hit the keys", but did so without knowing the full extent of the scheming behind the scenes to create more commissions from his and the accounts of others. Do you understand this? Apparently not, and I have traded a hell of a lot since 1981, and fully understand Olivier's points in his complaints.