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-----Original Message-----
From: ManningSto
Subject: Re: CL_Re: History-CFTC Case Update
>It's for compensation or profit. Does that make a difference? Should a
>small-time newsletter writer be required to register because he wants to
say
>something about corn?
It does make a difference. If you protect the right of someone, who for
compensation gives advice or opinions, then you are protecting their right
to lie and cheat the public. In the real world, they don't just stop at "I
think corn will go up" they say "I have told you corn will go up with 100%
accuracy (meaning 1 correct call in a row). Just ask Y.Z. (fake??) in
Cincinnati who made $60,000 last week (from a $1 million account that used
to be $5 million). Subscribe today for the low introductory price
of...(waaaaay too much)" If you protect one by having no regulation, you
protect both. One leads directly to the other.
This isn't about free speech. You can say anything you want even today as a
letter writer or CTA or anything else. You only get into trouble if you
can't support your claims. The real problem is that whether or not you are
a CTA seems to be a voluntary decision. Just read Futures magazine.
Doesn't it make you proud to be associated with this industry?
Whether it's regulation or enforcement, allowing the snake oil salesmen of
the world to operate with such impunity harms the entire industry. It is
the current, law abiding CTA's that are suffering the greatest harm watching
the vermin of the world thumb their nose at the regulations.
~Alan
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