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I think you'll be seeing more and more of that. The big question I've had is
what responsibility discount and on-line brokers have in terms of the "know
your customer" rule (clearly customers have some responsibilities but brokerage
firms have responsibilities too - there isn't too much precedent - think the
case involving Schwab is about the only case I've read about). In a lot of
states - you have what's called "comparative negligence". I.e., both plaintiff
and defendant can be at fault - and the plaintiff's recovery can be affected by
his degree of fault (in some states, there's pure comparative negligence, in
other states the plaintiff must be less than 50% responsible to recover
anything, etc., etc.). For what it's worth - at the last arbitration I
attended - I brought up the comparative negligence issue - but neither attorney
wanted to talk about it. Robyn
Robert Cummings wrote:
> Saw a TV show about Day Trading on UPfront Tonight. He lost $200,000 in one
> year and made 120 trades a day. Geez makes me tired to even read that the
> guy made $30,000 a year. Now the is going to file a lawsuit to get his
> money back. I hate seeing that kinda thing the blamers not taking
> responsibility for their own actions. Says he should have not had the
> opportunity to do that to himself.....pleeeeeeeeease.
>
> Robert
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