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

To: GraceZ who wrote (1946)	7/22/2003 6:18:10 PM
From: Jon Tara	Read Replies (1) \| Respond to of 3143

Grace, the Count has never said that he lost all of his money. Nor that he even lost, net. Read his words carefully. He is very crafy with his wording. I have been trying to get him to either confirm or deny that he had a net loss. He won't say. "How long did you win before you started losing? How long did it take you to lose all your money?"

To: GraceZ who wrote (1946)	7/22/2003 6:29:02 PM
From: CountofMoneyCristo	Read Replies (4) \| Respond to of 3143

Welcome, Grace, to our peaceful corner of the Internet! :-). The casino analogy I think is one the defendants will use at trial. There are problems with it, though. First, casinos don't guarantee 94% accuracy when you play roulette, blackjack, craps, the slots or chemin-de-fer. Second, NASD is not supposed to be run like a casino, but if it truly is nothing more than a casino, if that's what the defendants ware going to try to argue, then they'll have a problem because the roulette wheel was rigged, the cards were marked, and Goldfinger had Miss Masterson telling him his opponents cards via earpiece radio connection. In fact, during the timeframe here, 1998-2000, investing was far more dangerous than trading during the day only, with the huge swings in stock prices. The speculators were the swing traders - not the traders going home flat every night. I lasted longer than six months before being wiped out. That's something the defendants are going to have to explain, since most of their clients were wiped out within 6-8 weeks then. Then they hired me as an analyst - after I was wiped out. Now why do that unless you know all traders are going to be cleaned out? In this period, there were many, many plays worth 100-500% in a single day. Traders who went in full-time had a great opportunity to make a killing. Instead, they were massacred. That will take some explaining. When you say negative expected return that may be so now with decimalization and the lack of liquidity, the changes in the markets, but then it was a great opportunity. Yet we had brokerage firms and sites conspiring to destroy their own clients, using every manipulative scheme or device they could think of, including front-running, trading against their own clients, sharing confidential client position and account records in real-time and churning their clients. What I have posted here is the very smallest tip of the iceberg. It is a massive scandal. Thousands of lives destroyed when if the advisers and brokers had been honest they would have been rewarded for their endeavors and the risks they took. But, while the markets were on fire, great trades all over, they conspired to step on everyone's efforts except their own. That will take some explaining. This is not a suit of people wiped out after the markets started crashing. We're talking about legions of people suffering catastrophic financial loss when the markets were still rocketing. How to explain? They'll have some problems.

To: GraceZ who wrote (1946)	7/22/2003 6:41:24 PM
From: Jorj X Mckie	Read Replies (2) \| Respond to of 3143

Hi Grace, while I agree with your statements, they really aren't supportive of the Count's case. You are basically supporting the idea that there was no need for the defendant's to do anything shifty for the count to have lost his money. What I see the issue as being is the unwillingness of someone to take responsibility for their losses. I had a pretty rough couple of months trading since March. The difference here is that I accept that there is only one place where I can point my finger....the PPT....err, I mean ME.