Curtis Arnold vs Brooksley Born

[Bill Shumake <bshumake@xxxxxxxxxxxx>]

Several posts have inquired about the accusations leveled against Curtis Arnold by the CFTC.
I do not know Mr. Arnold, but I am familiar with his work and believe it to be a viable approach to trading the markets ( I am referring to PPS ). As to whether he has committed some type of fraud, I am not qualified to say, but as with most situations there are usually two sides to every story.  What follows is only my opinion, but I believe it is worth consideration when evaluating Arnold's situation.

It seems to me that ever since Brooksley Born has become Chairperson of the CFTC, the CFTC has been on a power grab.  There was once a time when only those managing someone else's money were required to register as CTAs, now those who publish newsletters are required to do so.
In fact to get a bit of clarification on who exactly is required to register, I spoke with a representative of the CFTC and left the conversation with the impression that not only does the CFTC require all those publishing newsletters to register but they would also like all those selling systems and books describing systems to have to register.  It even seems to me that some of us RTs are technically in violation of CFTC regulations when we post market opinions on a public forum ( does RTs fit the definition of public?...hmmm)  Now, Arnold may be guilty as charged, but I think we should also consider the possibility that he is being used as a guinea pig for a test case that could establish a very dangerous legal precedent...giving the CFTC authority to require authors of trading strategy books and sellers of trading systems to register ( and of course pay the $170.00 annual dues ) as CTAs. The problem with registration is that it in no way provides any protection for the publ!
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ic ( although it gives that impression ) all it does is increase the power of a non-elected government agency and of course increase revenues to that agency.  As a fellow RTer put it, the CFTC acts as though the general public doesn't have the sense to come in out of the rain. And while I appreciate a secure environment to trade and conduct business in as much as the next person, I can't help but think of what Ben Franklin once said..."those who would trade opportunity for security will soon have neither."  I know there are those that will disagree with me and perhaps even think me paranoid, but in fairness to Arnold, I think the opinion I've stated is worth consideration.

All the Best !
Bill